Ganfeng Lithium Co (HK:1772) has released an update.
Ganfeng Lithium Co. warns of a significant loss for the six months ending June 30, 2024, with expected net losses of RMB 760 million to RMB 1.25 billion, contrasting sharply with the net profit from the previous year. The downturn is mainly attributed to a decline in the share price of Pilbara Minerals Limited and falling lithium salt and battery prices, despite increased product shipments. Shareholders are urged to exercise caution, with final results yet to be audited and published by the end of August 2024.
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