HK Stock Market Move | Jiangsu Lopal Tech. Group (02465) rose more than 6% in early trading, planning to invest $160 million in an Indonesian cathode material project with a total planned capacity of 120,000 tons.

Jiangsu Lopal Tech. Group (02465) rose more than 6% in the early trading session, rising by 6.14% to HK$13.32 as of the time of writing, with a turnover of HK$58.22 million. In terms of news, Jiangsu Lopal Tech. Group announced its intention to invest in and construct a large-scale production project for new energy vehicle power and energy storage battery positive electrode materials in Indonesia. The total investment amount for the project is approximately US$160 million, equivalent to approximately RMB 1.088 billion. After the full production of the three-phase project, the total production capacity of Jiangsu Lopal Tech. Group's Indonesia base will increase from the current 30,000 tons to 120,000 tons, making it the largest overseas lithium iron phosphate positive electrode material factory in terms of scale.