On October 16, GANFENGLITHIUM fell 4.53% in Regular Trading, trading at HK$24.1, with turnover of HK$156 million.
The move came after the company reported strong first-nine-month results, but the market focused on a sharp sequential slowdown in third-quarter profit and continued weakness in lithium prices.
For the first nine months, revenue reached RMB36.159 billion, up 147.24% year over year, while attributable net profit rose to RMB5.012 billion from a low base, helped by recovering lithium product prices and higher lithium battery sales. However, third-quarter attributable net profit was RMB755 million, up 35.62% year over year but down markedly from the prior quarter, signaling softer earnings momentum.
At the same time, recent lithium carbonate prices have continued to hit yearly lows, as the market remains focused on supply expansion, mine restarts, and expectations of future oversupply, keeping pressure on the broader lithium sector.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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