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<Research>Citi: GANFENGLITHIUM (01772.HK) 1Q Core NP In Line; Lithium Price Faces Larger Upside Risk
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GANFENGLITHIUM (01772.HK)'s 1Q26 net profit turned into positive territory at RMB1.6-2.1 billion, Citi Research issued a research report saying. Based on the midpoint, core net profit is expected to be RMB1.5 billion, in line with expectation. The results were mainly driven by a sharp rise in average selling prices, the average price of lithium carbonate of RMB154,000 per tonne, representing a 75% QoQ increase. Meanwhile, downstream battery demand was strong. According to ZE Consulting's estimations, output of EV/ energy storage system (ESS) batteries grew 17%/ 96% YoY each, while marginal costs also declined. Considering robust actual demand and on-and-off supply disruption factors, the broker believed that lithium prices face larger upside risk. Therefore, Citi Research kept rating at Buy on GANFENGLITHIUM, with a target price of $66.7. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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