Ganfeng Lithium 1772

[winston]

not vested

GANFENGLITHIUM (01772.HK) Crashes Nearly 10%, as 3Q NP Plummets 98%

GANFENGLITHIUM (01772.HK)3Q net profit attributable to shareholders crashed 97.9% to RMB160 million.

GANFENGLITHIUM logged an operating income of RMB25.682 billion in the first 3 quarters, down 7% YoY.

Net profit attributable to shareholders was RMB6.01 billion, dropping 59.4%.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

not vested

UBS: GANFENGLITHIUM (01772.HK) 3Q23 Results Miss; Investors Expected to React Negatively

UBS wrote in its report that GANFENGLITHIUM (01772.HK) 's 3Q23 recurring profit of RMB160 million plunged 97.9% YoY and 95.4% QoQ, way lower than the market expectation of RMB1 billion, in wake of the company's spread being disappointing when spodumene concentrate (SC) price adjusted much slower than lithium chemical price.

UBS expected that investors will have a negative reaction to the results.

Yesterday (30th), GANFENGLITHIUM is trading at 5x 2024E PE or 0.96x PB, being the lowest since the listing.

UBS' TP on GANFENGLITHIUM was $46.96, with rating Buy.

The broker listed the risk factors of EV raw material industry, including commodity prices and exchange rate trends, government regulation, the global political situation and climate change; and risk factors for the company, including commodity price trends of lithium faience and lithium compounds, growth in sales of EVs, as well as the development of battery technology.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/analy ... stock-news