On October 2, GANFENGLITHIUM fell 3.24% in regular trading, trading at HKD 29.78 per share, with turnover of HKD 14.981 million. Peer TIANQI LITHIUM also dropped 3.14% on the same day, reflecting broad-based pressure across lithium mining stocks.
On the news front, UBS recently slashed its China lithium price assumption to RMB 120,000 per ton, a 40% reduction, and lowered its target price for GANFENGLITHIUM to HKD 44.28. JPMorgan also flagged short-term downside risks for lithium prices. Meanwhile, BlackRock reduced its long position in the company's H shares multiple times in September, with its stake declining from 9.72% to 7.72%. Lithium carbonate futures had previously plunged over 8%, with weekly destocking momentum narrowing sharply alongside rising production volumes, fueling sustained market pessimism.
Despite robust first-half results showing revenue of RMB 22.884 billion (up 177.1% YoY) and adjusted net profit of RMB 4.258 billion (up 894.0% YoY), forward-looking lithium price expectations and institutional outflows continue to dominate near-term sentiment. The company's board is scheduled to convene on October 15 to review its third-quarter report.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)