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Shares of Tinci Materials Technology climbed after the company announced a plan to invest up to CNY 2.1 billion (approximately USD 310 million) in a new manufacturing facility in China. The facility will focus on producing essential raw materials for lithium iron phosphate (LFP) batteries as part of their broader strategy to expand their cathode materials division.
Initially surging by as much as 6.1 percent today, the stock ended the session 2.8 percent higher at CNY 53.46 (about USD 7.88) per share. Meanwhile, the broader Shenzhen stock market declined by 1.3 percent.
The new plant is set to be built in Tiantai, Zhejiang Province, with an expected annual output capacity of 160,000 tons of high-density LFP. The company indicated that preparatory activities for this project are already underway.
Having achieved pilot-scale mass production of the high-density LFP, the company shared that further details regarding the process are not provided at this time.
Compared to traditional LFP, the high-density variant offers increased compression, enabling batteries made with it to deliver higher energy density, improved fast-charging capabilities, and longer cycle life. This technology is primarily used in premium power batteries and large-scale energy storage systems.
Recent years have seen this Chinese company expand beyond electrolyte and component chemicals to other segments of lithium materials, including upstream iron phosphate and LFP precursors.
Currently, the company boasts an annual capacity of 150,000 tons of LFP cathode materials, along with production capabilities for upstream phosphorus-iron and lithium iron phosphate precursor materials. Their major customers include leading companies like Contemporary Amperex Technology, BYD, and Gotion High-Tech, backed by Volkswagen.
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