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Ronbay is a Chinese lithium-battery cathode maker listed on the SSE STAR Market. It reported FY2025 revenue of about RMB 12.27bn and a net loss attributable to shareholders of RMB -187m. The business covers four materials segments: ternary (NCM/NCA) cathode, sodium-ion cathode, LFP and LMFP.
Controlling shareholder per company disclosure is Shanghai Ronbay New Energy Investment Enterprise (LP) (上海容百新能源投资企业(有限合伙)); actual controller (实际控制人) is Bai Housan (白厚善), who controls this investment vehicle. No independent corpus dossier exists for the vehicle, so parent_slug is omitted. Stake percentage is not pinned to one primary-source figure this pass: secondary aggregators give 27% (10jqka) and 28.61% (Sohu), both citing the same underlying Q3 2025 SSE STAR filing (192,210,000 shares held); the primary PDF (star.sse.com.cn 688005_20251018_ZFDS.pdf) timed out on fetch. No GLEIF LEI found for the SSE STAR-listed entity (searched Ningbo Ronbay New Energy Technology, Ronbay Technology).
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, 1 customer-side. This is a partial view: it covers the relationships we could evidence, not the company's full supply base.
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.
FY2025 AR summary: long-term cooperation agreement (Nov 2025) under which CATL 'will procure no less than 60% of its total annual procurement volume for sodium-ion cathode materials from the Company', conditional on technology/quality/cost/delivery; plus a long-term procurement agreement signed January 2026. Sodium-ion cathode — no scored material on this row.
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.
Another tracked dossier names 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.
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.
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.
Every exposure is read as a buyer dependency; the top 3 are its binding chokepoints.
As a buyer, policy pressure across its consumed 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.