Shares of LOPAL TECH (02465) rose more than 6% in early trading. At the time of writing, the stock was up 6.14% to HK$13.32, with a turnover of HK$58.22 million.

The increase follows the company's announcement of plans to invest in constructing a large-scale production project for new energy vehicle power and energy storage battery cathode materials in Indonesia.

The total investment for the project is approximately $160 million, equivalent to about 1.088 billion Chinese yuan. Upon the full completion and operation of all three phases, the total production capacity at LOPAL TECH's Indonesian base is set to increase from the current 30,000 tons to 120,000 tons.

This expansion will establish the facility as the largest overseas lithium iron phosphate cathode material factory.