赣锋锂业：2025年第四季度扣非后净利润扭亏为盈

Core Viewpoint - Ganfeng Lithium expects a significant turnaround in its financial performance for 2025, projecting a net profit of between 1.1 billion to 1.65 billion yuan, compared to a loss of 2.074 billion yuan in the previous year [1] Group 1: Financial Performance - The company anticipates a net profit for 2025 between 1.1 billion to 1.65 billion yuan, a notable recovery from a loss of 2.074 billion yuan in the same period last year [1] - The expected net profit after deducting non-recurring items for 2025 is projected to be a loss of between 600 million to 300 million yuan, compared to a loss of 888.7 million yuan in the previous year [1] - For the first three quarters of 2025, the company reported a non-recurring net profit of approximately -942 million yuan, indicating that the fourth quarter is expected to yield a profit of between 342 million to 642 million yuan [1] Group 2: Stock Performance and Valuation Changes - The company reported a fair value change gain of approximately 1.03 billion yuan from its holdings in Pilbara Minerals Limited, after hedging related to established risk management strategies [2] - The stock prices of Ganfeng Lithium have shown an upward trend, with A-shares increasing by 16.56% and H-shares by 41.28% since December 2025 [2] - As of January 27, 2026, Ganfeng Lithium's A-share price closed at 72.91 yuan per share, while H-share closed at 69.20 HKD [2]