LOPAL TECH (02465) opened over 7% higher, rising 7.26% to HK$15.81 by the time of writing, with a turnover of HK$13.19 million. The surge follows the company's announcement that its subsidiary signed a long-term procurement agreement with Sunwoda for lithium iron phosphate (LFP) cathode materials, with estimated sales ranging between RMB 4.5 billion and RMB 5.5 billion.

According to the announcement, the agreed purchase volume entails the seller supplying 106,800 metric tons of LFP cathode materials meeting specified standards to the buyer from 2026 to 2030. Pricing will be adjusted monthly based on raw material fluctuations as per the agreement terms.

Notably, on November 24, the company signed a second supplementary agreement with a wholly-owned subsidiary of Chuneng New Energy, increasing the sales volume from the originally agreed 150,000 metric tons to 1.3 million metric tons of LFP cathode materials. The agreement's validity was also extended from April 30, 2030, to December 31, 2030. Based on projected quantities and market prices, the total sales value is estimated to exceed RMB 45 billion.