Ganfeng Lithium's stock price soared 5.06% during intraday trading on Friday, reflecting strong investor confidence in the company's operations and market outlook.
The surge follows reports that the company's energy storage battery cells have maintained full-load production with capacity utilization approaching 100% from January to April, with cell products remaining in short supply. Additionally, the company has scheduled the capacity ramp-up of a new 588Ah production line in Nanchang for the third quarter.
Market sentiment was further bolstered by CITIC Securities maintaining its lithium price target for the second half of the year at RMB 250,000 per ton, representing approximately 50% upside from current levels. Institutional confidence was also demonstrated by BlackRock's recent increase in its H-share holdings to 7.80%.
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