LOPAL TECH (02465) has surged more than 15% again, bringing its cumulative gain for the month to nearly 70%. At the time of writing, the stock was up 11.84% to HK$20.46, with a turnover of HK$330 million. The catalyst for the movement is the company's recent announcement of signing a legally binding term sheet with Australian lithium miner Global Lithium Resources Ltd (GL1) and its subsidiary GLR. LOPAL TECH plans to provide a US$75 million prepayment (approximately RMB 510 million), along with an equity subscription, to secure a stable supply of lithium from the Manna Lithium Project in Western Australia for the next ten years. Furthermore, LOPAL TECH forecasts its first-quarter 2026 revenue to be between RMB 3.3 billion and RMB 3.6 billion, representing a year-on-year increase of 107.25% to 126.09%. It also expects net profit attributable to shareholders to be in the range of RMB 200 million to RMB 250 million, marking a turnaround from a loss to a profit compared to the same period last year. During the period, the company's primary lithium iron phosphate business experienced varying degrees of growth in revenue and sales volume, influenced by demand from both upstream and downstream sectors in the industry. The realization of economies of scale contributed to a recovery in profitability.