HK Stock Market Move | Lithium battery concept drops, CALB (03931) fell 9% in the afternoon, Contemporary Amperex Technology (03750) dropped nearly 6%.

Under the concept of lithium batteries, as of the time of publication, CALB (03931) fell by 8.6%, to HK$25.21; Contemporary Amperex Technology (03750) fell by 5.82%, to HK$502. On the news front, stimulated by the Zimbabwean ban, the main lithium carbonate futures contract rose by over 11% at the opening this morning. On February 25th, the Zimbabwean Ministry of Mines released a ban on lithium ore exports, aimed at strengthening mineral supervision and promoting the development of mineral processing. CITIC SEC pointed out that by 2025, 19% of China's imported lithium spodumene comes from Zimbabwe, and it is expected that by 2026, Zimbabwe's lithium resources will account for 12% of the global total. The country's ban on lithium ore exports is expected to lead to a short-term shortage of lithium carbonate supply in China, potentially driving up lithium prices significantly. According to media reports, Google is heavily investing in "iron-air batteries". This new type of device, called "iron-air batteries", can provide stable power for up to 100 hours, compared to the current mainstream lithium batteries which can only maintain a limit of 4 to 8 hours. This technology significantly extends the lifespan of green energy facilities.