HK Stock Movement | L & M CHEMICAL (00746) Surges Over 10% Intraday as VC Prices Spike; Jiangsu Lithium Battery Electrolyte Project Completed in July

Stock News
Nov 14

L & M CHEMICAL (00746) rose more than 10% intraday, with gains narrowing to 7.12% by the time of writing, trading at HK$5.87 with a turnover of HK$12.4049 million.

On November 12, data from BaiChuan YingFu showed that the price of vinylene carbonate (VC) climbed to RMB 77,500 per ton. According to a research report by Soochow Securities, VC is a key film-forming additive in lithium battery electrolytes, serving as a core component. The latest VC price of RMB 77,500 per ton marks a 63% increase from RMB 47,500 per ton on September 1. The price surge is attributed to rising demand for energy storage both overseas and in China's western regions, leading to a reversal in supply-demand dynamics.

Public records indicate that Jiangsu L & M Chemical Co., Ltd. invested RMB 560 million in a new lithium battery electrolyte project, which passed final inspection at the end of July this year, signaling the traditional chemical giant's official entry into the new energy sector. The company's VC product boasts a purity of 99.999%, significantly enhancing battery cycle life and charge-discharge efficiency.

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