Lopal Technology channels raised funds into phosphate cathode material projects

On August 18, Lopal Technology announced that it had raised RMB1.4 billion (USD208.21 million) through a private placement of A-shares for the 2025 fiscal year, which will be used to increase capital in its controlling subsidiary, Changzhou LBM New Energy Tech. Co., Ltd., and that all interest and wealth management income generated from the fundraising account during the interim period will be provided to Changzhou Liyuan as interest-bearing loans.

Changzhou LBM New Energy will then channel the funds to its wholly-owned subsidiaries--Shandong LBM and Hubei LBM--via a combination of capital increases of RMB800 million (USD118.97 million) and RMB600 million (USD89.23 million), respectively, along with interest-free loans. These funds are earmarked for the implementation of a 110,000tpy high-performance phosphate-type cathode material project and an 85,000tpy high-performance phosphate-type cathode material project.