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Lygend Resources & Technology Co., Ltd. (寧波力勤資源, HKEX 2245; registered office Ningbo,
Named counterparties identified by open-source research and written only where a primary source states the relationship — never inferred from sector or co-mention. 1 supplier, 3 customer-side. This is a partial view: it covers the relationships we could evidence, not the company's full supply base.
Lygend FY2025 results (MD&A, customer base): 'the nickel-cobalt compounds produced by the Company's hydrometallurgy projects' (the Obi Island HPAL, Halmahera, Indonesia) are sold under 'long-term supply agreements with ... subsidiaries of CATL (Hunan Bangpu, Ningde Bangpu and Ningbo Bangpu), Rongbay Technology and GEM'; 'In 2025, the hydrometallurgical projects ... were operated at full capacity'. Origin = Obi Island, Indonesia; destination = the Bangpu (Brunp) recycling/precursor plants in Hunan, Fujian (Ningde) and Zhejiang (Ningbo), China; the same filing reports ~85% of revenue by shipment destination as Chinese mainland.
Same FY2025 MD&A passage: Obi Island (Indonesia) HPAL nickel-cobalt compounds (MHP) sold under long-term supply agreements to CATL subsidiaries, Rongbay Technology 'and GEM'. Destination = GEM's ternary-precursor plants in China (Jingmen, Hubei etc.); the filing reports ~85% of revenue shipped to Chinese mainland. GEM also appears in Trimegah's 2023 prospectus as an HPL offtaker.
Same FY2025 MD&A passage: Obi Island (Indonesia) HPAL nickel-cobalt compounds sold under long-term supply agreements to 'Rongbay Technology' (Ronbay, SSE 688005, cathode maker, Ningbo, Zhejiang, China). No dossier yet: queued for onboarding.
Lygend FY2025 MD&A: 'In the Philippines, the Company has established partnerships with leading nickel mining companies such as Nickel Asia Corporation and CTP Construction and Mining Corp. for over a decade' to supply 'high-quality and stable supply of nickel ore and ferronickel products' for its nickel-ore trading business. Origin = Nickel Asia's Philippine mines; the filing does not state the delivery country of this ore, so the destination is left open.
Scope. Absence of a counterparty here is not evidence that none exists — most commercial sourcing is confidential and never becomes public. Rows without a share figure mean no share was disclosed, not that the relationship is small.
3 other tracked dossiers name this company as a counterparty in its own sourced disclosure — this platform never wrote these rows on this company's own page, they are read here inverted from the dossier that disclosed them. This is a partial view: 1004 additional named-counterparty rows across the corpus could not be matched to a tracked dossier by name at all (mostly non-Latin legal names), so the true count is higher than what renders here.
Mirror of the customer row in lygend-resources.md: Obi Island (Indonesia) HPAL nickel-cobalt compounds sold to 'Rongbay Technology' under long-term supply agreements.
NAC FY2025 17-A: the Group concentrates China sales on '3 key Chinese sales agents, namely Ningbo Lygend Wisdom Co. Ltd., Union Wave Holding Pte. Ltd. and Big Wave Resources Co., Limited ... these sales agents distribute the Group's nickel ore to the largest NPI companies in China'; key-customer revenue note: 'Ningbo Lygend Wisdom Co., Ltd. P=7,470,275 [2025] P=3,486,857 [2024] P=4,433,877 [2023]' (PHP thousand, of ore sales P=27,253,316 in 2025). Counterparty side: Lygend FY2025 annual results (HKEX 2026-03-31, https://www1.hkexnews.hk/listedco/listconews/sehk/2026/0331/2026033104229.pdf) states Lygend has had partnerships with Philippine nickel miners including Nickel Asia Corporation and CTP Construction and Mining Corp. for over a decade, feeding its nickel ore trading business. Origin: NAC mines in the Philippines (Rio Tuba, Taganito, Cagdianao, Hinatuan, Dinapigue). Destination China per NAC's description of the agent channel; caveat: NAC also reports P=7.4bn of 2025 ore sales to Indonesia without naming the buyer, and Ningbo Lygend Wisdom's link to HKEX-listed Lygend is by name (Ningbo-registered Lygend group), not stated in either filing.
TBP interim financial statements 30 June 2025, revenue note (customers above 10% of revenue from contracts with customers): Lygend Resources & Technology Co., Ltd., Tiongkok/China IDR 7,477,236m = 53.05% of revenue in H1 2025 (IDR 6,804,426m = 53.14% in H1 2024); trade receivable from the same China-domiciled entity IDR 222,714m at 30 June 2025. Origin = TBP nickel processing (RKEF ferronickel) and mining on Obi Island, North Maluku, Indonesia; the note states export sales are paid on delivery of shipping documents. Destination = China: Lygend reports ~85% of its FY2025 revenue by shipment destination as Chinese mainland and supplies ferronickel to Chinese stainless mills (Lygend FY2025 results). Lygend is a nickel producer-trader that on-sells part of this tonnage.
Scope. This section is inverted evidence: each linked dossier wrote the original row about itself, describing its own relationship to this company. It is never a claim this company itself disclosed. Absence here is not evidence of no relationship — most of the corpus has no named-counterparty block at all yet.
This company sits on the supply side for 2 of its 2 materials — a restriction on those is a tailwind, not a headwind.
As a producer, policy pressure across its produced materials is coverage-limited.
Descriptive trend in official policy actions on this company’s materials — a policy-pressure trend, not a price or trading signal. No forward probability is implied. Direction is measured on actions we have discovered, and discovery lags events: where the recent window is too thin to support a calm reading, the row says coverage-limited instead of easing.
No actions in the register have named or swept this company in the last 24 months.