Core Viewpoint - Ganfeng Lithium's stock experienced a significant decline of over 8% in early trading, currently down 6.77% at HKD 63.3, with a trading volume of HKD 440 million [1] Financial Performance - Ganfeng Lithium recently released its annual earnings forecast, expecting a net profit of between CNY 1.1 billion and CNY 1.65 billion, representing a year-on-year increase of 153.04% to 179.56%, compared to a loss of CNY 2.074 billion in the same period last year [1] - The fair value changes from the company's holdings in Pilbara Minerals contributed approximately CNY 1.03 billion to profits, while the non-recurring net profit is expected to show a loss between CNY 300 million and CNY 600 million [1] Market Outlook - Dongwu Securities published a report indicating that Ganfeng Lithium's performance in Q4 2025 is expected to be strong, with non-recurring net profit slightly exceeding expectations; lithium salt shipments are projected to remain stable quarter-on-quarter, with price increases contributing to profit elasticity [1] - For 2026, the firm anticipates the company's lithium salt shipment volume to reach 210,000 tons, a year-on-year increase of 25%, with self-supply resources estimated at 130,000 to 140,000 tons; assuming a lithium carbonate price of CNY 150,000 per ton, this could contribute over CNY 9 billion in profits [1]

本次出售后，赣锋国际尚持有PLS140,494,971股普通股(包含领式期权交易的部分)，约占截至目前PLS 已发行普通股总数的4.36%。 赣锋锂业（002460）(01772)公布，2026年1月，公司全资子公司GFL International Co.,Ltd(以下简称"赣锋 国际")通过二级市场大宗交易出售PLS Group Ltd(曾用名：Pilbara Minerals Limited，证券代码：PLS， 以下简称"PLS")3219万股普通股，出售金额(扣除交易费用等后)共计约1.6亿澳元。 ...

本次出售后，赣锋国际尚持有 PLS140,494,971 股普通股(包含领式期权交易的部分)，约占截至目前 PLS 已发行普通股总数的4.36%。 智通财经APP讯，赣锋锂业(01772)公布，2026 年 1 月，公司全资子公司 GFL International Co.,Ltd(以下 简称"赣锋国际")通过二级市场大宗交易出售PLS Group Ltd(曾用名：Pilbara Minerals Limited，证券代 码：PLS，以下简称"PLS")3219万股普通股，出售金额(扣除交易费用等后)共计约1.6亿澳元。 ...

海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條 刊 發。 根據中華人民共和國的有關法例規定，江西贛鋒鋰業集團股份有限公司（「本 公 司」）在 深 圳 證 券 交 易 所 網 站（http://www.szse.cn/）刊 發 了 以 下 公 告。茲 載 列 如 下，僅 供 參 閱。 江西贛鋒鋰業集團股份有限公司 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 （於中華人民共和國註冊成立之股份有限公司） （股份代號：1772） 承董事會命 董事長 李良彬 中 國‧江 西 二 零 二 六 年 一 月 三 十 日 於本公告日 期，董事會成員包括本公司執行董事李良彬先 生、王曉申先 生、沈海博先 生、黃婷女士及李承霖先 生；本公司非執行董事羅榮女 士； 本公司獨立非執行董事王金本先 生、黃浩鈞先 生、徐一新女士及徐光華 先 生；以及本公司職工董事廖萃女 士。 证 ...

一、交易概述 江西赣锋锂业集团股份有限公司（以下简称"公司"）于 2025 年 10 月 17 日召开第六届董事会第八次会议审议通过了《关于授权处 置公司所持部分股票资产的议案》。为优化公司资产结构，提高资产 运营效率，释放公司部分资产价值，同意董事会授权公司管理层根据 证券市场的情况，适时择机处置公司所持已流通上市的境内外上市公 司股票资产，出售上述资产的总成交金额不超过公司最近一期经审计 归属母公司股东净资产 10%，授权范围包括但不限于交易方式、交易 时机、交易价格、交易数量等的选择或确定，授权期限为本次董事会 审议通过之日起 12 个月内。具体内容详见公司于 2025 年 10 月 18 日 在《证券日报》及巨潮资讯网（http://www.cninfo.com.cn）披露的《关 于授权处置公司所持部分股票资产的公告》（公告编号：2025-122）。 二、交易进展情况 2026 年 1 月，公司全资子公司 GFL International Co.,Ltd（以下简 称"赣锋国际"）通过二级市场大宗交易出售 PLS Group Ltd（曾用 名：Pilbara Minerals Limited，证券代码 ...

Core Viewpoint - The energy storage industry is experiencing significant differentiation among listed companies, with most companies forecasting profitability for 2025, while only one company, 东方日升, is expected to incur losses due to price pressures in the photovoltaic supply chain [2] Group 1: Tesla - Tesla's energy business achieved a gross profit of $12.8 billion in 2025, representing a year-on-year increase of 26.6%, driven by strong demand for its Megapack and Powerwall products [3] - The company anticipates further growth in energy deployment with the introduction of new products, although management warns of potential short-term profit margin pressures due to increased competition and policy uncertainties [3] Group 2: 南网储能 - 南网储能 expects a net profit of between 1.667 billion and 1.727 billion yuan for 2025, marking an increase of approximately 5.41 billion to 6.01 billion yuan compared to the previous year, with a year-on-year growth rate of 47.98% to 53.31% [4] - The company is also expanding its project portfolio, including a 720MW/1440MWh battery storage project set to be operational by mid-2026 [6] Group 3: 智光电气 - 智光电气 forecasts a turnaround with a net profit of 110 million to 160 million yuan for 2025, a significant increase of 133.69% to 149.01% compared to a loss of 326 million yuan in the previous year [7] - The growth is attributed to rapid development in the energy storage sector and improved performance of independent energy storage stations [7][9] Group 4: 远东股份 - 远东股份 anticipates a net profit of 45 million to 65 million yuan for 2025, indicating a turnaround from previous losses, driven by improvements in its smart battery business [10] - The company plans to expand its core technology products and services related to energy and AI [10] Group 5: 东方日升 - 东方日升 expects a loss of between 2.3 billion and 2.9 billion yuan for 2025, primarily due to challenges in the industry cycle [11] - The company aims to enhance its value proposition through integrated solutions in the photovoltaic and energy storage sectors [11] Group 6: 新特电气 - 新特电气 projects a net profit of 40 million to 50 million yuan for 2025, recovering from a loss of 48.51 million yuan in the previous year, driven by growth in its energy storage business [12] - The company is leveraging its expertise in special transformers to expand into energy storage system integration [12] Group 7: 赣锋锂业 - 赣锋锂业 forecasts a net profit of 1.1 billion to 1.65 billion yuan for 2025, recovering from a loss of 2.074 billion yuan, largely due to gains from stock price increases and strategic investments [13] - However, the company still anticipates losses when excluding non-recurring items, indicating ongoing challenges in its core lithium product business [13] Group 8: 多氟多 - 多氟多 expects a net profit of 200 million to 280 million yuan for 2025, recovering from a loss of 308 million yuan, driven by increased demand in the energy storage and electric vehicle markets [14] - The company is actively promoting its battery products for energy storage applications and has achieved significant production capacity [14]

赣锋锂业公告，2026年1月，公司全资子公司GFL International Co.,Ltd通过二级市场大宗交易出售PLS Group Ltd 32,190,000股普通股，出售金额共计160,225,725澳元。预计本次出售的累计税前收益约为人民 币709,429,571元（即出售金额减去所对应的初始投资成本），其中，计入本年损益的税前收益约为人民 币119,725,072元。本次出售的累计收益占公司最近一期经审计归属于上市公司股东净利润的34.21%。 ...

星展集团研究部将 赣锋锂业 A股目标价从45元人民币上调至92元，将赣锋锂业H股目标价从39.00港元 上调至83.00港元。 ...

Core Viewpoint - Dongwu Securities report indicates that Ganfeng Lithium's Q4 2025 performance is impressive, with non-net profit slightly exceeding expectations [1] Financial Performance - The company expects a net profit attributable to shareholders for 2025 to be between 1.1 billion to 1.65 billion yuan, representing a year-on-year increase of 153% to 180% [1] - For Q4 2025, the expected net profit attributable to shareholders is projected to be between 1.07 billion to 1.62 billion yuan, indicating a turnaround from losses and a quarter-on-quarter increase of 93% to 192% [1] Profit Margins and Cost Structure - Due to self-supply of lithium carbonate, the company anticipates a slight increase in profit per watt-hour to 0.02 yuan per watt-hour in 2026 [1] Technological Developments - The company is advancing in solid-state technology, including solid-state electrolytes, lithium metal anodes, and solid-state batteries, with multiple technological routes being developed [1] Market Outlook - Considering the rising price of lithium carbonate, the company estimates that if the price reaches 150,000 yuan per ton in 2026, lithium salt could contribute over 9 billion yuan in profit [1] - The net profit estimates for 2025-2027 have been revised upwards to 1.48 billion, 9.4 billion, and 10.9 billion yuan respectively, reflecting year-on-year growth of 172%, 532%, and 16% [1] Valuation - The company is assigned a PE ratio of 103, 16, and 14 times for the years 2025, 2026, and 2027 respectively [1] - Given the price elasticity of lithium carbonate and the company's comprehensive solid-state industry chain layout, a valuation of 25 times for 2026 is suggested, leading to a target price of 112 yuan, maintaining a "buy" rating [1]

Group 1 - The core point of the news is the fluctuation in the rare metals market, particularly focusing on lithium prices and the performance of key companies in the sector [1][2] - As of January 20, the spot price of lithium cobalt oxide remained stable at 396.5 yuan/kg, with a weekly increase of 10.5 yuan/kg (2.72%) and a monthly increase of 33 yuan/kg (9.08%) [1] - Industrial-grade lithium carbonate has seen a significant weekly increase of 8.24%, indicating strong price resilience amid production disruptions in key mining areas in Jiangxi [1] Group 2 - Dongwu Securities predicts that the average price of lithium carbonate will reach 87,000 yuan/ton in Q4 2025, representing a 19% quarter-on-quarter increase, which will significantly contribute to earnings elasticity [1] - Ganfeng Lithium's profit per ton in Q4 is expected to rise to 8,000 yuan/ton, with self-owned resources contributing approximately 14,000 yuan/ton [1] - If lithium carbonate prices maintain at 150,000 yuan/ton in 2026, Ganfeng Lithium's lithium salt business is projected to contribute over 9 billion yuan in profits [1] Group 3 - As of December 31, 2025, the top ten weighted stocks in the CSI Rare Metals Theme Index include Luoyang Molybdenum, Northern Rare Earth, Huayou Cobalt, and others, accounting for 59.54% of the index [2] - The Rare Metals ETF (562800) tracks the CSI Rare Metals Theme Index, providing a convenient tool for investing in the rare metals sector [2] Group 4 - Investors can also explore investment opportunities in the rare metals sector through the Rare Metals ETF linked fund (014111) [3]