Chengdu Santai subsidiary to build 175,000-ton lithium iron phosphate project

Chengdu Santai Holding Group announced its wholly-owned subsidiary, Deyang Chuanfa Longmang New Material Co., Ltd., will cooperate with Jiangxi Shenghua New Material Co., Ltd. to establish a joint venture named Fulin Longmang New Material Co., Ltd. The joint venture, with a registered capital of RMB 66,000 million, will develop a 175,000-ton/year high-density lithium iron phosphate project. Jiangxi Shenghua will contribute RMB 33,660 million for a 51% stake, while Deyang Chuanfa Longmang will contribute RMB 32,340 million for a 49% stake.

This initiative follows previous announcements regarding cooperation between Chengdu Santai and Fulin Precision, and Deyang Chuanfa Longmang’s investment in a 100,000-ton/year lithium dihydrogen phosphate project. The total investment for the new lithium iron phosphate project is estimated at RMB 1,961 million, funded by the joint venture's own capital and borrowings.

The board of directors approved the project, noting its alignment with the company’s strategic goals to optimize its product structure and strengthen its position in the new energy materials sector.