2025 China Nezha Enterprise, GEI China Potential Unicorn, Provincial Specialized and Sophisticated SME… Jiangsu Hengchuang Nano Technology Co., Ltd. is covered in labels of “technological innovation”. Behind these titles, a story of technological breakthroughs and market reversal is slowly unfolding.

Three years ago, the Hengchuang team acquired the global core patent package for lithium manganese iron phosphate (LMFP) materials from the multinational chemical giant Dow Chemical. At that time, this technology had been shelved for several years due to high costs and an undeveloped market. By the first half of 2025, Hengchuang Nano had already ranked first in global shipment volume for this material for three consecutive years, with a market share approaching 50%, emerging as a striking “dark horse” in the new energy battery materials track.

Currently, Hengchuang’s client list is dominated by consumer electronics and two-wheeled electric vehicle companies. The team was the first to apply LMFP to products such as power banks and floor-cleaning robots, “opening up a market that no one had previously entered.” However, their sights are already set on broader fields—commercial vehicles and passenger car power batteries. At present, multiple leading commercial vehicle companies have begun adopting their cathode materials.