Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
The latest announcement is out from Ganfeng Lithium Co ( (HK:1772) ).
Ganfeng Lithium Co., Ltd has issued a profit warning, indicating a significant net loss for the year ending December 31, 2024, due to declining lithium product prices and financial asset pressures. The company’s financial performance has been impacted by the decrease in lithium salt and battery sales prices, despite increased shipment volumes. Additionally, the company faced substantial losses from fair value changes in its investments, specifically due to a significant drop in the share price of Pilbara Minerals Limited. While Ganfeng has attempted to mitigate these losses through strategic financial measures, the overall operating results show a notable decline compared to the previous year, affecting stakeholder confidence and industry positioning.
More about Ganfeng Lithium Co
Ganfeng Lithium Co., Ltd is a leading company in the lithium industry, primarily engaging in the production and sales of lithium products. Its operations span the development, manufacturing, and distribution of lithium chemicals, lithium metals, and lithium batteries, with a market focus on supporting the growing demand for lithium in various sectors, including electric vehicles and energy storage solutions.
YTD Price Performance: -0.19%
Average Trading Volume: 10,729
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $7.66B
Learn more about 1772 stock on TipRanks’ Stock Analysis page.
