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2025-09-16 11:20:29
Chinese lithium battery materials manufacturer Longpan Technology's H-shares surge over 30%, securing a large supply contract from CATL. Chinese lithium battery materials manufacturer Longpan Technology (2465.HK) saw its H-shares surge as much as 30.5% in early trading on Tuesday, reaching a new high since its listing on October 30, 2024. Its A-shares (603906.SS) also hit the daily limit, reaching their highest point since July 14, 2023. The company previously announced that its controlling subsidiary, Lithium Source (Asia Pacific), has signed a procurement cooperation agreement with CATL (300750.SZ/3750.HK) for lithium iron phosphate cathode materials. Under the agreement, Lithium Source (Asia Pacific) and its wholly-owned or joint venture subsidiaries will supply a total of 157,500 tons of qualified lithium iron phosphate cathode materials to CATL's overseas factories from the second quarter of 2026 to 2031. Based on projected quantities and current market prices, the total sales value of the contract will exceed 6 billion RMB. 3. Longpan Technology's A-shares have surged 64.8% this year, significantly outperforming the CSI 300 Index, which rose 14.3% over the same period. However, the CSI New Energy Vehicle Index (.CSI399976) fell 1.7% during the day.
