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Hong Kong stock market anomaly | Lithium industry stocks fell today, actual reduction of lithium salt factories is limited, and lithium prices are expected to remain weak in the short term.
According to the Wisdom Investing app, lithium stocks fell today. As of press time, Tianqi Lithium Corporation (09696) fell 3.8%, to HKD 24.05; Ganfeng Lithium (01772) fell 3.33%, to HKD 16.34. On June 27th, the main contract for lithium carbonate futures fell again below the 90,000 yuan level. Yesterday, the main contract for lithium carbonate futures, 2407, rose by more than 5%, to 92,550 yuan/ton. Zhicun Lithium Group recently announced that due to the summer flood season, in order to ensure the safe and stable operation of the production line, and improve product quality and production efficiency, regular summer maintenance plans will be carried out annually.
As lithium battery sector comes under pressure, ganfenglithium (01772) drops by 2.5%. Institutions suggest that the sector is undervalued, and under pressure from raw material prices, lithium battery companies may benefit.
Lithium battery sector is under pressure at the beginning of the market, with Ganfeng Lithium (01772) falling 2.50%, BYD Electronic (00285) falling 2.11%, Tsaker NE (01986) falling 1.87%, Zhongchuang Inno-Aircraft (03931) falling 1.49%, Tianqi Lithium Corporation (09696) falling 1.40%.
As of June 20, 2024, the total number of A-share shareholders in Tianqi Lithium Corporation (002466.SZ) was 300,710.
On June 26, Gelunhui reported that as of June 20, 2024, Tianqi Lithium Corporation had 300,710 A-share shareholders. As of June 4, 2024, the number of H-share shareholders was 517 (including 516 registered shareholders and Hong Kong Securities Clearing Company Limited, which represented non-registered shareholder holdings).
The lithium industry has strong momentum. Tianqi Lithium Corporation (09696) rose 7.87%, and institutions predict that the lithium battery Q3 peak season is expected.
Jingu Finance | Lithium stocks have shown strong momentum, with Tianqi Lithium Corporation (09696) rising 7.87% and Ganfenglithium (01772) rising 6.24%. After the release of relevant consultation draft on May 8, on June 19, the Electronic Information Department of the Ministry of Industry and Information Technology officially released the "Specifications for the Lithium-ion Battery Industry (2024 Edition)" (referred to as "Specifications") and the "Management Measures for the Announcement of Specifications for the Lithium-ion Battery Industry (2024 Edition)", which clarify that it will guide the industry to accelerate transformation, upgrading and structural adjustment, and promote the high-quality development of China's lithium-ion battery industry. Shanxi stated that every cycle of lithium mining expansion will undergo structural adjustment.
Hong Kong stock concept tracking | institutions bullish on lithium mine companies with clear production capacity and cost advantages (attached concept stocks), as lithium carbonate prices rebound.
The main Lithium Carbonate Futures contract rose over 4%, recapturing the 92,000 yuan/ton mark. Orient Securities research report pointed out that the lithium battery fundamentals have hit rock bottom and the valuation is recovering. With the release of the 2023 annual report/2024 first-quarter report, the negative factors affecting lithium batteries have been eliminated. The focus now should be on the positive factors such as production increases, stabilization or partial rebound of prices, and positive effect of old-for-new valuation. With the multiple factors in play, Orient Securities believes that opportunities outweigh risks, and the restoration of EPS and valuation for domestic lithium battery products is expected to become a trend. GTJA research report shows that production and sales of lithium products
Hong Kong Stock Market News: Lithium Carbonate Futures reclaimed the 90,000 yuan mark. Tianqi Lithium Corporation (09696) rose more than 8%, and Ganfeng Lithium (01772) rose more than 5%.
Lithium stocks rose in early trading. As of press time, Tianqi Lithium Corporation (09696) rose 8.09%, trading at HKD 25.4, while Ganfeng Lithium (01772) rose 5.04%, trading at HKD 17.5.
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