HK Movers | Lithium Mining Stocks Rise; Tianqi Lithium up 5%; Ganfeng Lithium up 2%
Tiger Newspress10:40
HK lithium mining stocks rose in the morning trading on Wednesday.
Tianqi Lithium rose 5%; Ganfeng Lithium rose 2%; Zijin Mining rose 1%.
Tianqi Lithium announced its first-quarter results. Under the China Accounting Standards, revenue reached RMB5.128 billion, up 98.4% YoY. Net profit attributable to shareholders amounted to RMB1.876 billion, surging 1,699% YoY. The increase was mainly due to a significant rise in the average selling prices of major lithium products, which drove substantial growth in revenue and gross profit, as well as higher investment income recognized from associates.
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