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Haitong Int'l: First-time coverage of Ganfeng Lithium (01772) with an "outperform" rating, target price of HKD 21.53.
Haitong Int'l forecasts that Ganfeng Lithium (01772) will have net profit attributable to shareholders of RMB 3.098 billion yuan, RMB 4.703 billion yuan, and RMB 6.136 billion yuan for 2024-2026 respectively.
Founder Securities: Prices of non-ferrous industry and industrial metals are weakening, and gold prices are reaching new highs.
Domestic demand for industrial metals has entered the off-season, coupled with increasing expectations of a U.S. economic downturn. Industrial metal prices may remain weak, and attention can be paid to downstream demand changes in the off-season. In addition, the expectation of interest rate cuts is gradually fermenting, coupled with the weakening of the U.S. credit system, and the short-term gold price may maintain a high-level shock trend.
Hong Kong Stock Market News: Ganfeng Lithium (01772) fell more than 3% due to the continuous decline in lithium carbonate prices. Recently, it witnessed a shareholding reduction of over 10 million Hong Kong dollars by Morgan Stanley.
Ganfeng Lithium (01772) fell more than 3%. As of press time, it fell by 3.02%, to HKD 16.68, with a turnover of HKD 52.3461 million.
Lithium battery stocks under pressure, BYD Electronic (00285) fell 3.7%. Cui Dongshu expects that the demand for electric vehicle batteries will grow slower than the total vehicle growth.
Jingu Finance News | Lithium battery stocks under pressure, BYD Electronic (00285) fell 3.7%, Tianqi Lithium Corporation (09696) fell 3.01%, Ganfeng Lithium (01772) fell 2.33%, and Zhongchuangxinhang (03931) fell 2.44%. Cui Dongshu, secretary general of the China Passenger Car Association, wrote that lithium battery installations in June 2024 reached 43 GWh, an increase of 30% YoY. The installation of ternary batteries was 11 GWh, accounting for 26%, which is lower than the same period last year. The installation of lithium iron phosphate batteries was 32 GWh, accounting for 74%, and the growth rate of ternary batteries has slowed down. The total lithium battery installations from January to June was 203 G, a YoY growth of 3.
Cui Dongshu: In June, 43 GWh of lithium batteries were installed, with phosphate iron lithium batteries accounting for 74%, and the growth of ternary batteries slowing down.
In June, the shipment volume of lithium batteries was 43 GWh, a 30% YoY increase; the shipment volume of lithium iron phosphate batteries was 32 GWh, accounting for 74%, and the growth of ternary batteries slowed down. From January to June, the shipment volume of lithium batteries was 203 G, with a YoY increase of 34%.
Ganfeng Lithium (002460.SZ): Partial completion of stock purchase for employee stock ownership plan reserved for 2023.
On July 19, GeLonghui reported that ganfenglithium (002460.SZ) announced that from July 2, 2024 to July 18, 2024, some of the employee stock ownership plan reserved by the company for 2023 was purchased through the Shenzhen Stock Exchange trading system using secondary market bidding, with a total of 478,280 shares of the company's A shares, accounting for 0.02% of the total share capital of the company. The highest purchase price was 29.65 yuan/share, the lowest was 28.20 yuan/share, and the average transaction price was 28.90 yuan/share. The total transaction amount was about RMB 13.8214 million, and the source of funds was the company.
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151453268 witso : Pls was definitely on the radar a while back but the thought of a slow recovery due to renewable uptake uncertainty, governments and market hold ups made it disappear, i do like Renascor resources graphite due to the potential supply side and china cant continue to dilute the price for ever when they kick off maybe a watch.