Group 1 - The core viewpoint of the article is that Daiwa has upgraded Ganfeng Lithium's investment rating from "underperform" to "outperform" due to improvements in the global lithium supply-demand landscape, with a target price increase from HKD 53 to HKD 85 [1] - Daiwa anticipates a global lithium supply shortage in 2026, primarily due to the early implementation of Zimbabwe's lithium export ban and slower-than-expected resumption of production at CATL's lithium mica mines [1] - The brokerage has raised its earnings per share forecast for Ganfeng Lithium for 2026-2027 by 213% to 583%, reflecting an increase in lithium prices and has adopted a price-to-earnings valuation method with a target P/E ratio of 17.3 times, lower than the 20 times for Ganfeng's A-shares [1] Group 2 - Daiwa's forecast for lithium prices in 2026-2027 is set at RMB 130,000 to RMB 145,000 per ton, which is more conservative compared to the market's optimistic expectation of RMB 200,000 per ton, mainly due to concerns over rising production in Africa and China [1]

Group 1 - The core viewpoint of the article is that Daiwa has upgraded Ganfeng Lithium's investment rating from "underperform" to "outperform" due to improvements in the global lithium supply-demand landscape, with a target price increase from HKD 53 to HKD 85 [1] - Daiwa anticipates a global lithium supply shortage in 2026, primarily due to the early implementation of Zimbabwe's lithium mine export ban and slower-than-expected recovery of CATL's lithium mica mines [1] - The brokerage has raised its earnings per share forecast for Ganfeng Lithium for 2026-2027 by 213% to 583%, reflecting an increase in lithium prices [1] Group 2 - Daiwa has adopted a price-to-earnings (P/E) valuation method, assigning a target P/E of 17.3 times, which is lower than the 20 times for Ganfeng Lithium's A-shares, to account for lower liquidity in H-shares [1] - The firm predicts lithium prices for 2026-2027 to be between RMB 130,000 and RMB 145,000 per ton, which is conservative compared to the market's optimistic expectation of RMB 200,000 per ton, mainly due to concerns over rising production in Africa and China [1]

Group 1 - The core viewpoint of the report is that due to the improvement in the global lithium supply-demand balance, the investment rating for Ganfeng Lithium has been upgraded from "Underperform" to "Outperform" with a target price raised from HKD 53 to HKD 85, marking the first positive outlook since the previous pessimistic view for 2023 to 2025 [1] - The report anticipates a global lithium supply shortage in 2026, primarily due to the early implementation of Zimbabwe's lithium mine export ban and the slower-than-expected recovery of CATL's lithium mica mines [1] - The earnings per share forecast for Ganfeng Lithium for 2026 to 2027 has been increased by 213% to 583%, reflecting the rise in lithium prices, and a price-to-earnings ratio of 17.3 times has been assigned, which is lower than the 20 times for Ganfeng's A-shares, to account for the lower liquidity of H-shares [1] Group 2 - The forecast for lithium prices in 2026 to 2027 is set at CNY 130,000 to CNY 145,000 per ton, which is conservative compared to the market's optimistic expectation of CNY 200,000, mainly due to concerns over increased production in Africa and China [1]

企查查APP显示，近日，江西绿能船务有限公司成立，注册资本8000万元，经营范围包含：非金属矿及 制品销售，金属矿石销售，装卸搬运，国内船舶代理等。企查查股权穿透显示，该公司由赣锋锂业旗下 江西赣锋锂电科技股份有限公司等共同持股。 ...

Market Performance - A-shares indices collectively declined during the week of March 23 to 27, with the Shanghai Composite Index down 1.09%, the Shenzhen Component Index down 0.76%, the ChiNext Index down 1.68%, and the Sci-Tech Innovation Index down 0.43% [1][2]. Index Details - The Shanghai Composite Index closed at 3914 points with a weekly trading volume of 799.7 billion yuan, reflecting a year-to-date decline of 1.39% [2]. - The Shenzhen Component Index closed at 13760 points with a weekly trading volume of 1053.6 billion yuan, showing a year-to-date increase of 1.74% [2]. - The ChiNext Index closed at 3296 points with a weekly trading volume of 460.8 billion yuan, with a year-to-date increase of 2.89% [2]. Stock Performance - Seven stocks saw a weekly increase of over 40%, with Haike Xinyuan leading at 51.02%, followed by Lianxiang Co. at 48.26% and Rongjie Co. at 46.95% [3][4]. - On the downside, 30 stocks experienced a decline of over 20%, with Huada Technology leading the drop at 32.34% [3][4]. Trading Activity - A total of 47 stocks had a turnover rate exceeding 100%, with Shouhang New Energy at the top with a turnover rate of 236.08% [5][6]. - The majority of stocks with high turnover rates were in the electric power equipment, public utilities, and basic chemicals sectors [5]. Fund Flows - The sectors that attracted significant capital inflows included non-ferrous metals, basic chemicals, and building materials, while the electronics sector faced a net outflow exceeding 25 billion yuan [7][8]. - Ganfeng Lithium received the highest net inflow of 2.72 billion yuan, with a weekly increase of 18.15% [7][8]. Margin Trading - Lixun Precision received the highest net buy amount in margin trading at 1.094 billion yuan, with a weekly increase of 4.96% [9][10]. - Other notable net buys included China Ping An and Demingli, while NIO and Zijin Mining faced significant net sell amounts [9][10]. Institutional Research - A total of 163 listed companies were researched by institutions, with Sanhua Intelligent Control receiving the most attention from 284 institutions [11][12]. - The focus of institutional research was primarily on industrial machinery, electronic components, and automotive parts and equipment [11]. New Institutional Interests - Institutions showed first-time interest in 51 stocks, with seven stocks receiving target prices [14][15]. - Notable mentions include Kaige Precision Machine with a target price of 207.84 yuan and Daqin Railway with a target price of 5.95 yuan [15].

Market Overview - The A-share indices collectively declined during the week from March 23 to March 27, with the Shanghai Composite Index down by 1.09%, the Shenzhen Component Index down by 0.76%, the ChiNext Index down by 1.68%, and the Sci-Tech Innovation Index down by 0.43% [1][2]. Stock Performance - A total of 7 stocks saw gains exceeding 40%, with Haike Xinyuan leading at a weekly increase of 51.02%. Other notable gainers included Lianxiang Co. (48.26%), Rongjie Co. (46.95%), and Huadian Liaoning Energy (43.61%) [3][4]. - Conversely, 30 stocks experienced declines over 20%, with Huada Technology leading the drop at 32.34%, followed by Zhonghuan Hailu (29.59%) and Shenhua Fa A (28.03%) [3][4]. Trading Activity - 47 stocks had a turnover rate exceeding 100%, with Shouhang New Energy at the top with a turnover rate of 236.08%, followed by Nabichuan (199.27%) and Jiuzhou Group (177.88%) [5][6]. - The majority of stocks with high turnover rates were from the electric equipment, public utilities, and basic chemicals sectors [5]. Capital Flow - The sectors that attracted significant capital inflow included non-ferrous metals, basic chemicals, and building materials, while the electronics sector faced a net outflow exceeding 250 billion yuan [8]. - Ganfeng Lithium received the highest net inflow of 27.20 billion yuan, with a weekly increase of 18.15%. Other stocks with notable inflows included Demingli (15.88 billion yuan) and Yunnan Zhiye (14.20 billion yuan) [8][9]. Margin Trading - A total of 1399 stocks received net margin purchases, with 582 stocks having net purchases exceeding 10 million yuan. Luxshare Precision topped the list with a net purchase of 10.94 billion yuan, while NIO and Zijin Mining faced significant net sell-offs [10][11]. Institutional Research - During the week, 163 listed companies were researched by institutions, with Sanhua Intelligent Control receiving the most attention from 284 institutions. Other companies like Yuanjie Technology and Yuntianhua also attracted significant institutional interest [12][14]. Analyst Ratings - Several companies received new ratings from analysts, including Kaige Precision Machinery with a "Buy" rating and a target price of 207.84 yuan, and Daqin Railway with an "Overweight" rating and a target price of 5.95 yuan [15][16].

Core Viewpoint - The A-share market showed resilience despite a significant drop in US stocks, with energy metals leading the gains, particularly lithium stocks, which experienced a surge in trading activity and price increases [1][3]. Group 1: Market Performance - The energy metals sector led the A-share market, with lithium stocks like Ganfeng Lithium, Yongxing Materials, and Shengxin Lithium Energy hitting the daily limit, while Yunnan Tin also reached a historical high [1]. - The Huabao ETF (159876), which covers leading companies in the non-ferrous metals sector, saw a maximum intraday increase of 3.61% and closed up 2.91%, recovering above the 10-day moving average [1]. Group 2: Fund Flow and Demand - Over 14.8 billion yuan of main funds flowed into the non-ferrous metals sector, making it the top sector in terms of fund absorption among 31 primary industries [3]. - Ganfeng Lithium attracted a net inflow of 3.734 billion yuan, topping the A-share capital absorption list [3]. Group 3: Supply and Demand Dynamics - The main contract for lithium carbonate futures broke through 160,000 yuan per ton, with a cumulative increase of over 14% in the past five days [3]. - Zimbabwe, the world's fourth-largest lithium producer, has indefinitely suspended all raw mineral and lithium concentrate exports since late February, significantly tightening the domestic market's supply [3]. - The demand for lithium is expected to surge, with a projected 55% increase in lithium battery storage demand by 2026, driven by trends in AI data center construction and geopolitical tensions affecting oil prices [3]. Group 4: Future Outlook - Analysts from Industrial Securities noted that downstream demand for battery cells remains high, while supply concerns persist due to ongoing disruptions in Jiangxi lithium mines and the export ban from Zimbabwe, suggesting that lithium prices may continue to experience strong fluctuations in the short term [3]. - According to Shenwan Hongyuan, the non-ferrous metals sector may face pressure due to geopolitical tensions and rising energy prices, but the long-term investment logic has shifted, indicating potential for continued upward movement in the sector [3].

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） 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。 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 六 年 三 月 二 十 七 日 2、公司与中国建设银行股份有限公司新余市分行（以下简称"建 设 银 行 " ） 签 署 《 保 证 合 同 》 （ 合 同 编 号 ： HTC360650000YBDB2026N00A），约定公司为控股子公司江西赣锋 锂电科技股份有限公司（以下简 ...

证券代码：002460 证券简称：赣锋锂业 编号：临2026-023 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 公司全资子公司 GFL International Co., Limited（以下简称"赣锋国 际"）向中非发展基金有限公司（以下简称"中非基金"）发行总额 为 1 亿美元的可交换票据，中非基金可以根据可交换票据中未偿付的 票据金额及应付利息转换成赣锋国际全资子公司 Mali Lithium B.V.的 A 类优先股。由公司为本次赣锋国际发行 10,000 万美元的可交换票 据交易提供担保。（详见公司公告：2025-138） 公司与中非基金签署《保证合同》，约定公司为赣锋国际发行 10,000 万美元的可交换票据交易提供连带责任保证。 二、被担保人基本情况 （一）江西赣锋锂电科技股份有限公司 1、基本情况 公司名称：江西赣锋锂电科技股份有限公司 1、江西赣锋锂业集团股份有限公司(以下简称"公司"或"赣锋 锂业") 于 2026 年 1 月 20 日召开的第六届董事会 ...

Market Performance - The Hong Kong stock market indices collectively rose on March 27, with the Hang Seng Index increasing by 0.38% to close at 24,951.88 points, the Hang Seng Tech Index up by 0.35%, and the National Enterprises Index rising by 0.76% [1] Sector Performance - Technology stocks showed mixed results, with Kuaishou and Xiaomi both rising over 1%, while Bilibili fell by more than 1% [1] - Innovative pharmaceutical stocks surged, with CSPC Pharmaceutical Group increasing by over 13% [1] - The lithium battery sector performed well, with Ganfeng Lithium rising by over 9% [1] - The commercial aerospace sector faced declines, with Junda Co., Ltd. dropping by over 9% [1] Stock Highlights - Xiaomi Group saw a price increase of 1.726%, closing at HKD 33.00 with a trading volume of 4.727 billion [2] - Ganfeng Lithium reported a price increase of 9.265%, closing at HKD 74.30 with a trading volume of 2.66 billion [2] - CSPC Pharmaceutical Group experienced a significant rise of 13.848%, closing at HKD 9.29 with a trading volume of 1.734 billion [2] Investor Sentiment - Goldman Sachs indicated that international investor interest in Chinese stocks has likely reached a near-high point, with only about 10% of surveyed clients considering the Chinese stock market "non-investable," a significant improvement from approximately 40% two years ago [4] - Haitong International's Chief Economist Zhang Yidong believes that the recent market fluctuations do not alter the long-term trend, with both A-shares and H-shares expected to reach new highs in the second half of the year [4]