China Graphite (02237) rose more than 11%, surging 35% in 2 trading days. As of press release, it had risen 11.58% to HK$0.53, with a turnover of HK$2.05 million.
The Zhitong Finance App learned that China Graphite (02237) rose more than 11% and surged 35% in 2 trading days. As of press release, it had risen 11.58% to HK$0.53, with a turnover of HK$2.05 million.
According to reports, the company and its subsidiaries are mainly engaged in the manufacture and sale of graphite products. Due to the high carbon content of the company's flake graphite concentrate (the company believes this is due to the company's mineral processing capacity), it is suitable for heat-resistant materials and other value-added uses, such as making spherical graphite, and as anode materials for lithium-ion batteries in electronic devices and new energy vehicles.
Galaxy Securities pointed out that although the suspension of lithium mine Finniss lithium mine has limited improvement in the global oversupply of lithium resources in 2024, the suspension of lithium production in Australia indicates that the current round of lithium price decline has now begun to break through the cost line of spodumene mining companies after first removing the profits of non-mineral smelters. If lithium prices fall further, it is expected that more solid lithium mining companies will stop production or delay the progress of new production capacity. Thus, contraction on the supply side provides bottom lithium price support, thus completing the bottom lithium price reduction and completion of the industry.