Golden data 4 November news, CICC released a report, stating that Ganfeng Lithium (01772.HK) third quarter performance met expectations, maintaining the company's profit forecast for the next two years unchanged, and maintaining its "outperform" rating. Due to the smooth progress of the company's own resource projects, the H-share target price has been raised by 7% to 25.01 Hong Kong dollars. CICC stated that the decline in lithium prices in the mainland in the last quarter led to a decrease in Ganfeng Lithium's revenue, but the decline in concentrate prices and the consumption of high-priced inventory are conducive to the company's cost control. In addition, the Mali lithium mine project is about to be put into production, and the incremental release of its own ore will accelerate. Ganfeng Lithium's own resource projects will usher in a turning point for incremental release next year, and it is expected to drive the company's self-sufficiency rate from 31% this year to 39% next year.
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中金: Ganfeng Lithium's target price raised to HK$25.01, third-quarter performance in line with expectations.
Golden data 4 November news, CICC released a report, stating that Ganfeng Lithium (01772.HK) third quarter performance met expectations, maintaining the company's profit forecast for the next two years unchanged, and maintaining its "outperform" rating. Due to the smooth progress of the company's own resource projects, the H-share target price has been raised by 7% to 25.01 Hong Kong dollars. CICC stated that the decline in lithium prices in the mainland in the last quarter led to a decrease in Ganfeng Lithium's revenue, but the decline in concentrate prices and the consumption of high-priced inventory are conducive to the company's cost control. In addition, the Mali lithium mine project is about to be put into production, and the incremental release of its own ore will accelerate. Ganfeng Lithium's own resource projects will usher in a turning point for incremental release next year, and it is expected to drive the company's self-sufficiency rate from 31% this year to 39% next year.