Movement Alert｜Ganfeng Lithium Rises 3.39% in Regular Trading, Subsidiary Sells PLS Shares Recording Approximately RMB 981 Million Pre-Tax Gain

Market Focus06-17

On June 17, Ganfeng Lithium rose 3.39% in regular trading, trading at HK$62.95/share, with turnover of HK$146 million, extending the recent lithium sector rebound.

On the news front, the company announced on June 16 that its wholly-owned subsidiary Ganfeng International sold approximately 35.09 million ordinary shares of Pilbara Minerals (PLS) via secondary market block trade for approximately AUD 222 million. After the disposal, Ganfeng International retains approximately 3.27% of PLS. The estimated cumulative pre-tax gain from the sale is approximately RMB 981 million, of which approximately RMB 353 million is attributable to current-year profit and loss.

Additionally, BlackRock recently increased its holdings of the company's H-shares to 7.80%, signaling continued institutional confidence. The lithium sector continues to benefit from supply-demand tightening expectations, with brokerages maintaining a second-half lithium carbonate price target of RMB 250,000/tonne, implying approximately 50% upside from current levels.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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