LOPAL TECH (02465) saw its shares rise nearly 6% during the trading session, reaching a high of HK$23.50 and setting a new record since its listing. As of the latest update, the stock was up 5.41%, trading at HK$23.38, with a turnover of HK$37.3877 million.

The company recently disclosed its financial results for the first quarter of 2026, reporting revenue of RMB 3.497 billion, a year-on-year increase of 119.61%. Net profit attributable to shareholders of the listed company stood at RMB 214 million, compared to a loss of RMB 25.949 million in the same period last year, marking a turnaround to profitability.

According to the announcement, the average selling price of the company's main product, automotive environmentally friendly fine chemicals, decreased by 1.75% year-on-year in the first quarter of 2026. In contrast, the average selling price of lithium iron phosphate cathode materials increased by 55.77% year-on-year.

Previously, LOPAL TECH announced that it had signed a legally binding term sheet with Australian lithium miner GL1 and its subsidiary GLR. The agreement involves an upfront payment of US$75 million (approximately RMB 510 million), along with equity subscription, to secure a stable supply of lithium from the Manna lithium mine in Western Australia for the next decade.