BUZZ-Ganfeng Lithium's Hong Kong shares at 3-1/2-year low on weak earnings estimate

Reuters01-31

** Hong Kong shares of Ganfeng Lithium Group Co Ltd

drop 6.6% to HK$20.55, their lowest since June 2020

** Stock on track for biggest one-day pct decline since Jan 17, extending losses to a fourth session; biggest pct loser in Hong Kong's material index

** Chinese lithium battery products producer expects its 2023 net profit to drop 69.8%-79.5% YoY to 4.2 bln-6.2 bln yuan ($585 mln-$863.5 mln)

** Prices of lithium salt products decreased as terminal demand growth slowed

** Co's Shenzhen-listed stock falls 6% to 34.74 yuan, lowest since September 2020

** The Hang Seng Commerce & Industry Index falls 1.2%, the material index slips 0.3% and the Hang Seng Index

down 0.7%

** Co's Hong Kong-listed stock down 27.8% YTD, Shenzhen shares down 17.8%

($1 = 7.1798 Chinese yuan)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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