Hua Er Jie Jian Wen·2026-01-27 20:35Core Viewpoint - Ganfeng Lithium is expected to achieve a net profit of 1.1 billion to 1.65 billion yuan in 2025, marking a turnaround from losses, primarily due to a 1.03 billion yuan fair value gain from Pilbara stock price increase and asset transfer gains [1][2]. Financial Performance - The net profit attributable to shareholders is projected to be between 1.1 billion and 1.65 billion yuan, a significant increase of 153.04% to 179.56% compared to a loss of 2.074 billion yuan in the same period last year [1][2]. - After excluding non-recurring gains and losses, the company is still expected to incur a loss of 300 million to 600 million yuan, compared to a loss of 888.7 million yuan in the previous year, indicating ongoing pressure on its core business [1][2]. - Basic earnings per share are anticipated to be between 0.55 yuan and 0.82 yuan, recovering from a loss of 1.03 yuan per share in the same period last year [1][2]. Non-Recurring Gains - The expected net profit turnaround is largely attributed to non-recurring gains, including approximately 1.03 billion yuan in fair value changes from Pilbara Minerals Limited stock and investment income from the sale of subsidiary equity [2][3]. - The company has also reported a fair value loss on convertible bonds issued in H-shares due to significant stock price increases and the exercise of conversion rights by bondholders [2].