HK Stock Market Move | Jiangsu Lopal Tech. (02465) rose more than 12% in the afternoon, recently signed a sales contract for lithium iron phosphate cathode materials, with a total amount possibly exceeding 5 billion yuan.

Jiangsu Lopal Tech. (02465) rose more than 12% in the afternoon, up 7.43% at the time of publication to HKD 6.94, with a total turnover of HKD 3.49 billion. In terms of news, Jiangsu Lopal Tech. previously announced that its direct non-wholly-owned subsidiary, Changzhou Lithium Source, along with its indirect non-wholly-owned subsidiary, Nanjing Lithium Source, as the sellers, has entered into strategic materials procurement cooperation agreements and supplemental agreements with buyers Wuhan Chueneng, Xiaogan Chueneng, and Yichang Chueneng. They will sell 150,000 tons of lithium iron phosphate cathode materials from 2025 to 2029, with a sales model including the seller providing lithium carbonate and the buyer providing lithium carbonate. The total contract sales amount is expected to exceed 5 billion RMB. Public information shows that in 2024, Jiangsu Lopal Tech. signed a 5-year long-term supply agreement and revised agreement with LG New Energy, selling a total of 260,000 tons of lithium iron phosphate cathode materials to LG New Energy. In January 2025, the company signed a supply agreement with Ford Motor Company's subsidiary lithium iron phosphate battery factory, Blue Oval, to provide lithium iron phosphate cathode materials from 2026 to 2030. Additionally, in January of this year, the company also signed an annual purchase agreement for lithium iron phosphate cathode materials with Contemporary Amperex Technology, with a purchasing limit of 7 billion RMB for 2025.