LOPAL TECH Shares Surge Over 9% Again on Securing Decade-Long Lithium Supply from Manna Mine

Stock News04-23

LOPAL TECH (02465) rose more than 9% again. As of writing, the stock was up 7.59%, trading at HK$17, with a turnover of HK$475 million. The company has signed a legally binding term sheet with Australian lithium miner Global Lithium Resources (GL1) and its subsidiary GLR. LOPAL TECH will provide a $75 million prepayment (approximately RMB 510 million), along with equity subscription, to secure a stable supply from the Manna lithium mine in Western Australia for the next ten years. Notably, LOPAL TECH forecasts revenue for the first quarter of 2026 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 expects net profit attributable to shareholders to be in the range of RMB 200 million to RMB 250 million, turning a profit compared to a loss in the same period last year. During the period, the company's primary lithium iron phosphate business was impacted by upstream and downstream industry demand, resulting in varying degrees of growth in revenue and sales volume. Scale benefits were realized, leading to a recovery in profitability.

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