LOPAL TECH's stock price soared 5.33% during intraday trading on Monday, following the release of its impressive first-quarter financial results.
The company reported a remarkable financial turnaround for Q1, with revenue reaching RMB 3.497 billion, a surge of 119.61% year-over-year. Net profit attributable to shareholders swung to a profit of RMB 214 million, compared to a loss of RMB 25.95 million in the same period last year, marking a 925.71% improvement. This performance was primarily driven by significant gains in its lithium iron phosphate (LFP) cathode materials business, which experienced both higher sales volumes and an increase in the average selling price.
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