Ge Long Hui·2025-12-02 07:59Core Viewpoint - Salt Lake Co. reported a year-on-year increase of 113.97% in net profit attributable to shareholders for Q3 2025, indicating strong financial performance and growth potential [1] Company Developments - As of September 29, 2025, the new 40,000 tons/year integrated lithium salt project has been largely completed, with key devices such as lithium adsorption and extraction systems successfully trialed [1] - The nanofiltration and reverse osmosis systems have completed membrane installation and water linkage, while core equipment for lithium sedimentation and auxiliary projects has passed individual trials [1] - The project has officially entered the trial production phase, yielding qualified battery-grade lithium carbonate products, which will enhance the company's lithium salt production capacity [1] Market Position and Strategy - The trial production of the 40,000 tons/year integrated lithium salt project is expected to further improve the company's market competitiveness, profitability, and risk resilience in the lithium salt sector [1] - The company is aligned with China's "three-step" development strategy for salt lakes, aiming to complete integration and optimization by 2025, thereby establishing a foundation for a world-class salt lake industry [1] Financial Outlook - The company is given a 27 times PE ratio for 2026, with a target price set at 31.86 yuan, maintaining an "overweight" rating [1]