Futu News on October 29, $LOPAL TECH (02465.HK)$ Today's pre-market opening is high, up by 0.91%, at 5.55 Hong Kong dollars, with a turnover of 0.4063 million Hong Kong dollars, and a total market value of 3.691 billion Hong Kong dollars.

Market source: Futu Securities.

Company overview

Jiangsu Lopal Tech. is a leading global manufacturer of lithium iron phosphate cathode materials, and a well-known producer of fine chemicals for automobiles in mainland China.

Established in 2003, Jiangsu Lopal Tech. focuses on the lubricant and engine coolant areas, with its products widely used in the automotive manufacturing, automotive aftermarket, and construction machinery sectors. In 2017, Jiangsu Lopal Tech. went public on the Shanghai Stock Exchange. Since 2020, the company has been selling lithium iron phosphate cathode materials. In 2021, Jiangsu Lopal Tech. became one of the world's major suppliers of lithium iron phosphate by acquiring Bettery's lithium iron phosphate cathode material business.

The company holds a significant market position in multiple submarkets within the lithium iron phosphate cathode materials and fine chemicals for automobiles industries. According to Frost & Sullivan data, in terms of sales volume in 2023, the company is the fourth-largest lithium iron phosphate cathode material manufacturer in China and globally, with a global market share of 6.5%. The top three manufacturers account for 30.5%, 12.9%, and 10.5% market shares respectively. The company is also the third-largest diesel engine exhaust treatment fluid manufacturer in mainland China, with a market share of 9.1%, while the top two manufacturers hold 29.1% and 12.9% market shares. Additionally, the company is the third-largest coolant manufacturer in mainland China, with a market share of 5.8%, while the top two manufacturers hold 12.3% and 8.8% market shares.

Financial overview

In terms of financial situation, jiangsu lopal tech.'s revenue in 2021, 2022, and 2023 were RMB 4.054 billion, 14.072 billion, and 8.729 billion respectively, with a compound growth rate of 46.75%. Pre-tax profits were 0.507 billion, 1.161 billion, and -1.831 billion respectively.

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Editor/Afina