Ganfeng Lithium (01772) rebounded by more than 4%. As of press release, it rose 2.59% to HK$21.8, with a turnover of HK$62.1697 million.
The Zhitong Finance App learned that Ganfeng Lithium (01772) rebounded by more than 4%. As of press release, it had risen 2.59% to HK$21.8, with a turnover of HK$62.1697 million.
According to a report published by Yamato, Ganfeng Lithium's first-quarter indicators can refer to Xinhua Tianneng, not Tianqi Lithium. According to the bank, Tianqi may have recorded SQM-related accounting losses of 1.75 billion yuan during the quarter, which has nothing to do with Ganfeng. The bank said it was not clear where Tianqi's remaining adjusted net loss of over 2 billion yuan came from. If the operating losses for the first quarter were recorded as profits due to minority shareholders, the relevant issue was also Tianqi itself and had nothing to do with Ganfeng.
In addition, Ganfeng Lithium will also disclose its first quarter results on April 29. Lyon previously said that due to the weakening outlook for lithium prices, Ganfeng Lithium's profit forecast for this year and next two years will be lowered by 66% and 69%. According to the Yamato Research Report, the earnings forecast per share for this year was lowered by 20%, and the target price was lowered from HK$29.5 to HK$29. The bank estimates that the company's recurring net profit for the first quarter, without taking into account one-time impairment, was 530 million yuan.