LOPAL TECH (02465) rose over 9% before noon, gaining 8.48% to HK$12.03 by press time with a turnover of HK$202 million. Industry data indicates that October 2025 lithium hexafluorophosphate output increased approximately 13.8% month-on-month, with November production expected to grow by 3.7%. Electrolyte output continued climbing in October, supported by sustained demand growth in November. Third-party reports show ternary cathode materials (5-series for digital use) edged up weekly during October 29–November 4. Guosheng Securities notes lithium iron phosphate producers maintain high operating rates primarily fulfilling long-term contracts, with cost-demand dynamics supporting further price increases. Separately, LOPAL TECH reported Q3 2025 revenue of RMB5.825 billion (+2.91% YoY), narrowing net losses by 63.52% YoY to RMB110 million.