Ge Long Hui A P P·2025-10-31 06:13Core Viewpoint - The report from Credit Lyonnais indicates that Ganfeng Lithium's third-quarter performance is robust, with optimistic prospects for the fourth quarter due to deeper upstream integration and positive contributions from the battery business [1] Financial Performance - Ganfeng Lithium's net profit forecasts for the fiscal years 2025 and 2026 have been slightly adjusted downwards based on the latest financial data [1] - The valuation multiple for the fiscal year 2027 has been increased from 15 times to 25 times, reflecting Ganfeng Lithium's unique advantages in lithium chemicals and battery business compared to peers [1] Target Price Adjustments - The target prices for Ganfeng Lithium's H-shares and A-shares have been raised from HKD 35 to HKD 58 and from CNY 45 to CNY 80, respectively [1] - The premium for A-shares over H-shares has been increased from 40% to 50% [1] Rating - Credit Lyonnais reaffirms the "Outperform" rating for Ganfeng Lithium [1]