Summary by Moomoo AI
Ganfeng Lithium's report for the third quarter of 2024 showed a decrease in both revenue and net profit, with a 45.78% decrease in revenue compared to the same period last year, and a 110.66% decrease in net profit attributable to the shareholders of the listed company. The company stated that the decline in income and profit was mainly due to the downturn in the lithium industry cycle, resulting from the decrease in selling prices of lithium salts and lithium battery products. Despite this, the net cash flow from operating activities increased significantly to 4,105,916,332.03 RMB, a growth of 399.90%. In addition, the company actively implemented strategic initiatives during the reporting period, including signing strategic cooperation agreements with Nanjing Public Utilities Development Co., Ltd. and...Show More