Longpan Technology's performance declined, and its revenue from lithium iron phosphate cathode materials decreased

Longpan Technology achieved operating income of 8.729 billion yuan in 2023, a year-on-year decrease of 37.96%, and a net profit attributable to the parent company of -1.233 billion yuan, turning from profit to loss year-on-year. Among them, the revenue of lithium iron phosphate positive electrode materials fell to 6.754 billion yuan, accounting for about 77.4%. The company said that the main reasons for the decline in performance were the decline in new energy vehicle subsidy policies, sharp fluctuations in raw material prices, and a slowdown in downstream demand growth.