Pangdong Tech Surges Over 10% Amid Soaring Lithium Iron Phosphate Prices

Pangdong Technology (2465.HK) surged during regular trading to HK$13.60, up 10.21%, with turnover at HK$269 million. According to CCTV Finance, lithium iron phosphate (LFP), a key raw material for new energy and storage batteries, has seen significant price increases this year, rising from about US$14,000 per ton one year ago to over US$35,000 per ton currently—more than doubling in value.

Pangdong Tech previously announced plans to invest approximately US$160 million in constructing a large-scale production base for EV and energy storage battery cathode materials in Indonesia. Upon completion of all three phases, the Indonesian facility will increase total capacity from the current 30,000 tons to 120,000 tons, becoming the largest overseas LFP cathode material plant.