LOPAL TECH (02465) surged over 3% before noon, rising 2.86% to HK$13.3 by the time of writing, with a trading volume of HK$109 million. Industry data shows that China's lithium iron phosphate (LFP) production reached 2.445 million/3.06 million tons from January to October 2024/2025, marking year-on-year growth of 54%/59%. In October alone, LFP and lithium iron phosphate output hit 400,000/335,000 tons, with capacity utilization rates at 75.9%/76.7%. Analysts suggest that the rapid expansion of energy storage demand will drive continued growth in LFP production and sales in 2026. Given LFP's high consumption of phosphate rock and stringent quality requirements, it is expected to remain a key driver of phosphate ore demand in China. The improved capacity utilization in traditional chemical enterprises' LFP production has led to significant reductions in losses for most companies since 2025. Earlier, LOPAL TECH reported its performance for the first three quarters of 2025, with revenue reaching approximately RMB5.825 billion, up 2.91% year-on-year. The net loss attributable to shareholders narrowed by 63.53% to around RMB110 million, with basic loss per share at RMB0.16.