Jiangsu Lopal Tech (SHA:603906, HKG:2465) said it won a contract to supply lithium iron phosphate cathode to electric vehicle battery maker Sunwoda Automotive Energy Technology (Thailand), according to a Hong Kong bourse filing Tuesday.
Shares of the automotive specialty chemicals seller jumped nearly 10% in morning trade Wednesday.
The company will supply 106,800 tonnes of the material between 2026 and 2030 at varying prices. The firm estimates the contract could net anywhere between 4.5 billion yuan to 5.5 billion yuan.
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