(Yicai Global) Sept. 1 -- Shares in Senior Technology Material jumped after the leading Chinese maker of electric car battery separators received a CNY4.3 billion (USD666 million) order from South Korean lithium-ion battery giant LG Energy Solution.

Senior Technology Material [SHE:300568] ended trading today 4 percent higher at CNY44.53 (USD6.89), after opening up 11 percent.

The parties signed a four-and-half-year supply contract yesterday, Shenzhen-based Senior Technology said late on the same day. To be settled in US dollars, the value of the deal may change depending on market conditions and customer demand, the firm added, without giving any further details, including about the supply of battery diaphragms.

Senior Technology inked a USD3.3 billion, six-year deal to supply Sweden’s Northvolt with lithium battery separators in March.

Senior Technology will also work with LG Energy Solution on a strategic partnership in lithium battery diaphragms, the firm said. It began supplying separators to LG Energy Solution last year after signing a USD2.3 million agreement.

Editor: Futura Costaglione