智通财经APP获悉，香港联交所最新资料显示，11月20日，小摩减持赣锋锂业(01772)159.3302万股，每 股作价59.1323港元，总金额约为9421.56万港元。减持后最新持股数目约为3087.79万股，最新持股比例 为6.91%。 ...

Group 1 - Morgan Stanley's short position in Ganfeng Lithium's H-shares has decreased from 4.45% to 3.86% as of November 19 [1]

Core Viewpoint - Lithium stocks experienced a surge in the afternoon, with Tianqi Lithium Industries rising by 4.11% and Ganfeng Lithium increasing by 3.21, driven by strong demand in renewable energy and electric vehicles [1] Industry Summary - The chairman of Tianqi Lithium, Jiang Anqi, stated that the demand for lithium materials is continuously increasing due to the rapid growth of electric commercial vehicles and energy storage applications. By 2026, global lithium demand is expected to reach 2 million tons of lithium carbonate equivalent, achieving a near balance between supply and demand [1] - Ganfeng Lithium's chairman, Li Liangbin, predicted a 30% increase in lithium carbonate demand by 2026, reaching 1.9 million tons, with supply capacity expected to grow by approximately 250,000 tons. This indicates a balanced supply-demand scenario, with potential upward pressure on lithium carbonate prices [1] - If demand growth exceeds 30% next year, potentially reaching 40%, short-term supply may not be able to keep pace, leading to prices possibly exceeding 150,000 yuan/ton or even 200,000 yuan/ton [1]

智通财经APP获悉，锂矿股午后拉升，截至发稿，天齐锂业(09696)涨4.11%，报47.64港元；赣锋锂业 (01772)涨3.21%，报49.56港元。 消息面上，天齐锂业董事长蒋安琪今日在2025年第二届中国国际锂业大会上表示，受益于可再生能源并 网需求、商用重卡等电动化设备增速迅猛，储能领域和动力电池对基础锂材料的需求持续上涨，2026年 全球锂需求量预计将达到200万吨碳酸锂当量，基本达到供需平衡。随着锂行业供需格局的改善，产业 链将破除同质化竞争，企业将迎来更大的发展空间。 值得一提的是，此前赣锋锂业董事长李良彬预测，2026年碳酸锂需求会增长30%，需求达到190万吨， 同时供应能力经过评估后会增长25万吨左右，供需基本平衡，碳酸锂价格有探涨空间。如果明年需求增 速超过30%，甚至达到40%，短期内供应无法平衡，价格可能会突破15万元/吨甚至20万元/吨。 ...

Group 1 - Ganfeng Lithium's stock price increased by 2.01% to 59.83 CNY per share, with a trading volume of 2.645 billion CNY and a market capitalization of 123.245 billion CNY as of November 25 [1] - The company has seen a year-to-date stock price increase of 71.63%, but a decline of 14.43% in the last five trading days and 7.50% in the last 20 days [1] - Ganfeng Lithium's main business revenue composition includes lithium series products (56.78%), lithium battery series products (35.52%), and others (7.70%) [1] Group 2 - As of September 30, Ganfeng Lithium reported a revenue of 14.625 billion CNY for the first nine months of 2025, representing a year-on-year growth of 5.02%, and a net profit attributable to shareholders of 25.52 million CNY, up 103.99% 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 in the last three years [3] - The number of shareholders increased to 372,500, with an average of 3,243 circulating shares per person, a decrease of 23.77% from the previous period [2]

高盛发布研报称，锂市场基本面近几月显著改善，预计2025年下半年至2026年上半年供需将呈现偏紧状态，主要原因在于国内需求及出口双双走强，其中储能系统是预期变化最大的驱动因素， 不过，该行认为当前现货价格存在下行风险，原因包括下游市场在短期内的负面反馈，储能系统安装增长速度减缓和其他因素影响库存增补，供应端节奏也较慢。高盛更新锂价预测，以中国基准 责任编辑：史丽君 ...

赣锋锂业副总裁何佳言表示，锂行业正处于上升周期，现已触底。由于资本投入周期，明年大型项目的 额外供应将有限。汽车制造商的需求在上升，而储能系统的发展也"超出我们预期"，此外，机器人和计 算领域的应用也日益增多。市场不应过分关注短期价格波动。 ...

Group 1 - The core viewpoint of the report is that the lithium market fundamentals have significantly improved in recent months, with expectations of a tighter supply-demand balance from the second half of 2025 to the first half of 2026, driven by strong domestic demand and exports, particularly in energy storage systems [1] - Goldman Sachs downgraded Ganfeng Lithium (002460) from "Neutral" to "Sell," raising the target price for Hong Kong shares from 28 HKD to 32 HKD, while maintaining a "Sell" rating for Ganfeng Lithium A-shares (002460.SZ) and Tianqi Lithium (002466) [1] - The target price for Tianqi Lithium's Hong Kong shares was increased from 21.5 HKD to 24.5 HKD [1] Group 2 - The current spot prices for lithium are considered to have downside risks due to negative feedback from the downstream market, a slowdown in energy storage system installation growth, and slow supply-side responses [2] - Goldman Sachs updated its lithium price forecasts, predicting an average price of 11,000 USD per ton of lithium carbonate in the first half of 2026, unchanged from previous predictions, while the second half of 2026 is expected to average 9,500 USD per ton, a 14% downward adjustment [2] - The average price for 2027 is forecasted at 9,300 USD per ton, reflecting a 15% downward adjustment from previous estimates, leading to a 5% to 42% reduction in profit forecasts for lithium stocks for 2026 to 2027 [2]

Group 1 - Goldman Sachs reports significant improvement in lithium market fundamentals in recent months, expecting a tight supply-demand situation from the second half of 2025 to the first half of 2026, driven by strong domestic demand and exports, particularly from energy storage systems [1] - The firm downgraded Ganfeng Lithium (01772) from "Neutral" to "Sell," raising the target price for Hong Kong shares from HKD 28 to HKD 32, while maintaining "Sell" ratings for Ganfeng Lithium A-shares (002460.SZ) and Tianqi Lithium (09696, 002466.SZ), with Tianqi Lithium's target price increased from HKD 21.5 to HKD 24.5 [1] Group 2 - Current spot prices face downside risks due to negative feedback from downstream markets, slowing growth in energy storage system installations, and other factors affecting inventory replenishment, with a slow response from the supply side [2] - Goldman Sachs updated its lithium price forecasts, estimating an average price of USD 11,000 per ton of lithium carbonate in the first half of 2026, unchanged from previous predictions, while the second half of 2026 is expected to average USD 9,500, a 14% downward adjustment from previous forecasts, and USD 9,300 for 2027, down 15% [2] - The firm lowered its earnings forecasts for covered lithium stocks by 5% to 42% for 2026 to 2027 due to the adjustment in lithium price predictions, but raised target prices by 9% to 15% as the valuation year rolls to 2026, assuming a higher bottom valuation for the cycle [2] - It is estimated that most Chinese lithium stocks currently imply lithium carbonate prices in the range of USD 16,200 to USD 24,500 per ton for 2026 to 2027 [2]

每经AI快讯，港股锂矿股今早继续下挫，截至发稿，赣锋锂业(01772.HK)跌7.35%，报47.16港元；天齐 锂业(09696.HK)跌4.83%，报44.88港元。 ...