E-Power Surges Nearly 38% Premarket on $344M Contract

E-Power Inc. shares jumped 37.72% in Friday premarket trading to $0.62.

The Chinese graphite anode materials maker and seller closed Thursday at $0.45, up 4.43%.

Contract Win Boosts Investor Sentiment

Prior to the move, E-Power announced Thursday that its subsidiary Shandong Sunrise Technology signed a turnkey equipment and technology services contract with Chinese specialty electronics and metal materials maker Shandong Fusen New Materials, valued at approximately 343.5 million yuan.

The deal is E-Power's largest technology equipment order to date. It covers two production lines in the Laiwu district of Jinan, Shandong Province — one for artificial graphite anode materials with an annual capacity of 20,000 tons, and another for silicon-carbon anode materials with an annual capacity of 1,000 tons.

CEO Hu Haiping said: "This order validates our long-held belief that the process technology we have accumulated in building and operating our own anode material plants is itself a valuable asset."

He added: "We believe that delivering a complete artificial graphite production line and a silicon-carbon production line proves our team's ability to execute industrial-scale projects for third-party clients, not just for ourselves."

Trading Metrics and Technical Analysis

E-Power has a market capitalization of $26 million, with a 52-week high of $1.86 and a 52-week low of $0.35.

The stock's Relative Strength Index (RSI) stands at 42.76.

The shares have declined 49.66% over the past 12 months.

E-Power is currently trading near its 52-week low.