Core Viewpoint - Ganfeng Lithium (002460.SZ) announced that its Vice President, Fu Lihua, plans to reduce his shareholding by a maximum of 40,000 shares, representing no more than 0.002% of the company's total share capital, within three months from November 14, 2025, to February 13, 2026, to repay equity incentive loans [1] Summary by Categories - **Share Reduction Plan** - Fu Lihua intends to sell up to 40,000 shares through centralized bidding [1] - The reduction will occur within a specified period from November 14, 2025, to February 13, 2026 [1] - **Reason for Reduction** - The purpose of the share reduction is to repay loans related to equity incentives [1] - **Source of Shares** - The shares being sold are sourced from those granted under the company's equity incentive program [1]

（於中華人民共和國註冊成立之股份有限公司） （股份代號：1772） 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。 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。 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。 承董事會命 江西贛鋒鋰業集團股份有限公司 董事長 李良彬 中國‧江西 二 零 二 五 年 十 月 二 十 一 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 ...

Group 1 - The core point of the article is that Ganfeng Lithium announced on October 21 that as of October 10, 2025, the number of A-share shareholders is 384,400 [2]

证券代码：002460 证券简称：赣锋锂业 编号：临2025-123 江西赣锋锂业集团股份有限公司 关于为控股子公司提供担保的进展公告 本公司及其董事会全体成员保证公告内容真实、准确和完整，无 虚假记载、误导性陈述或者重大遗漏。 一、担保情况概述 1、江西赣锋锂业集团股份有限公司(以下简称"公司") 于 2025 年 3 月 28 日召开的第五届董事会第九十一次会议、于 2025 年 6 月 25 日召开 2024 年年度股东大会审议通过了《关于 2025 年度公司及 子公司对外担保额度预计的议案》，为满足公司及子公司的发展和生 产经营需要，同意公司向子公司提供连带责任保证担保额度合计人民 币 2,521,000 万元，同意子公司向子公司提供连带责任保证担保额度 人民币 1,114,000 万元，两项合计担保总额人民币 3,635,000 万元（包 括新增担保和原有担保的展期或续保）。其中公司及子公司向资产负 债率 70%以上的子公司提供总额不超过人民币 1,501,000 万元，向资 产负债率 70%以下的子公司（含新设立暂无财务数据的子公司）提供 总额不超过人民币 2,134,000 万元。本次担保额度在 ...

Core Viewpoint - Ganfeng Lithium announced an estimated external guarantee limit of 36.35 billion yuan for the year 2025 for the company and its subsidiaries [1] Group 1 - The company provided joint liability guarantees for its subsidiary Ganfeng Lithium Battery's 200 million yuan debt with China Development Bank, pledging 20% of its equity in Dongguan Ganfeng Lithium Battery [1] - The company also guaranteed a 50 million yuan debt for Tianjin Jianyuan under Shenzhen Yichu, with Shenzhen Yichu providing a shortfall compensation commitment and pledging 100% equity of Tianjin Jianyuan [1] - Additionally, the company provided guarantees for a 628 million yuan financing lease for Qujing Guangchu under Shenzhen Yichu [1] Group 2 - As of the announcement date, the total external guarantee balance for the company and its subsidiaries reached 20.43 billion yuan, accounting for 48.89% of the audited net assets for 2024 [1]

Core Insights - The energy metals sector experienced a rise of 1.83% on October 21, with Huayou Cobalt leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Energy Metals Sector Performance - Huayou Cobalt (603799) closed at 62.62, with a gain of 3.45% and a trading volume of 887,300 shares [1] - Zangge Mining (000408) closed at 56.70, up 2.42%, with a trading volume of 117,700 shares [1] - Tengyuan Mining (301219) closed at 66.56, increasing by 2.10%, with a trading volume of 63,900 shares [1] - Jizhong Mining (600711) closed at 10.38, up 1.96%, with a trading volume of 1,204,100 shares [1] - Ganfeng Lithium (002460) closed at 61.59, with a gain of 1.48% and a trading volume of 648,700 shares [1] - Other notable performances include Sai Rui Mining (300618) at 48.66 (+1.23%), Shengxin Lithium Energy (002240) at 19.30 (+1.21%), and Boqian New Materials (605376) at 56.11 (+1.19%) [1] Capital Flow Analysis - The energy metals sector saw a net inflow of 319 million yuan from institutional investors, while retail investors experienced a net outflow of 266 million yuan [2] - The main capital inflow and outflow for key stocks include: - Huayou Cobalt: Net inflow of 31.3 million yuan from main funds [3] - Zangge Mining: Net inflow of 39.36 million yuan from main funds [3] - Ganfeng Lithium: Net inflow of 36.95 million yuan from main funds [3] - Jizhong Mining: Net inflow of 34.01 million yuan from main funds [3] - Retail investors showed significant outflows in several stocks, including Zangge Mining and Ganfeng Lithium, indicating a cautious sentiment among retail participants [3]

Core Viewpoint - Ganfeng Lithium's stock price has shown significant volatility, with a year-to-date increase of 77.62% but a recent decline of 9.63% over the past five trading days [2]. Group 1: Stock Performance - As of October 21, Ganfeng Lithium's stock price was 61.92 CNY per share, with a market capitalization of 127.38 billion CNY [1]. - The stock has experienced a 27.25% increase over the past 20 days and a 71.14% increase over the past 60 days [2]. - The company has appeared on the trading leaderboard four times this year, with the most recent instance on October 13, where it recorded a net buy of -165 million CNY [2]. Group 2: Financial Performance - For the first half of 2025, Ganfeng Lithium reported a revenue of 8.376 billion CNY, a year-on-year decrease of 12.65%, while the net profit attributable to shareholders was -531 million CNY, an increase of 30.13% year-on-year [2]. - The company has distributed a total of 6.162 billion CNY in dividends since its A-share listing, with 3.933 billion CNY distributed over the last three years [3]. Group 3: Shareholder Information - As of June 30, 2025, Ganfeng Lithium had 283,900 shareholders, a decrease of 3.94% from the previous period, with an average of 4,254 shares held per shareholder, an increase of 4.03% [2]. - Major shareholders include Hong Kong Central Clearing Limited, which holds 70.1136 million shares, and several ETFs that have increased their holdings [3].

Core Viewpoint - The Hong Kong lithium battery stocks experienced a significant rally on October 21, with notable increases in share prices for several key companies in the sector [1] Company Summaries - Contemporary Amperex Technology Co., Ltd. (CATL) saw its stock price rise over 6% at the beginning of trading [1] - BYD Electronics reported a stock increase of 3.5% [1] - Zhongchuang Innovation Holdings experienced a nearly 2% rise in its stock price [1] - Other companies such as Tianneng Power, Ganfeng Lithium, Tianqi Lithium, and BYD Company all recorded stock price increases of over 1% [1]

New Stock Offerings - The offer period for the acquisition of Shangwei New Materials (688585) is from September 29, 2025, to October 28, 2025[1] - The latest announcements for various stocks include BoRui Pharmaceutical (688166) and Nanxin Pharmaceutical (688189) on October 10, 2025[1] - Significant abnormal fluctuations were reported for Nanxin Pharmaceutical (688189) on October 10, 2025[1] Trading Alerts - A total of 30 stocks have trading alerts issued on October 20, 2025, including Anlikang (002940) and ST Baoying (002047)[1] - The trading alerts cover various sectors, indicating potential volatility in the market[1] - The latest announcements for stocks such as YD Holdings (000626) and ST Nanzhi (002305) were made on October 20, 2025[1]

Core Viewpoint - The lithium industry is subject to significant price fluctuations, and companies must adhere to supply and demand principles rather than engage in speculative practices. It is essential for domestic companies to adapt to local markets when expanding internationally, rather than simply replicating domestic models [2]. Group 1 - The lithium market has experienced two major price cycles over the past thirty years, highlighting the importance of understanding industry dynamics [2]. - Companies should focus on the essence of business rather than being influenced by short-term price movements, which can lead to "resource gambling" [2]. - Domestic competition in the lithium sector is intense, but companies must integrate into local markets when operating abroad to succeed [2].