Summary by Moomoo AI
Ganfeng Lithium issued a profit warning, expecting to incur losses in the first half of 2024. Based on preliminary estimates, the expected loss attributable to shareholders of the company will range from RMB 760 million to 1.25 billion yuan, compared to a net profit of approximately RMB 5.85 billion in the same period last year. After deducting non-recurring gains and losses, the expected net loss is expected to range from RMB 100 million to 200 million yuan, while the net profit was about RMB 4.11 billion in the same period last year. The basic loss per share is expected to be between RMB 0.38 yuan and 0.62 yuan. The company stated that the decline in performance was mainly due to the decline in the stock price of financial asset Pilbara Minerals Limited and the downward trend of the lithium industry, resulting in a decrease in the prices of lithium salts and lithium battery products. The financial data has not been audited, and the final data is expected to be released before the end of August 2024.
