Zhi Tong Cai Jing·2026-01-30 01:59Core Viewpoint - Ganfeng Lithium's stock experienced a significant decline of over 8% in early trading, currently down 6.77% at HKD 63.3, with a trading volume of HKD 440 million [1] Financial Performance - Ganfeng Lithium recently released its annual earnings forecast, expecting a net profit of between CNY 1.1 billion and CNY 1.65 billion, representing a year-on-year increase of 153.04% to 179.56%, compared to a loss of CNY 2.074 billion in the same period last year [1] - The fair value changes from the company's holdings in Pilbara Minerals contributed approximately CNY 1.03 billion to profits, while the non-recurring net profit is expected to show a loss between CNY 300 million and CNY 600 million [1] Market Outlook - Dongwu Securities published a report indicating that Ganfeng Lithium's performance in Q4 2025 is expected to be strong, with non-recurring net profit slightly exceeding expectations; lithium salt shipments are projected to remain stable quarter-on-quarter, with price increases contributing to profit elasticity [1] - For 2026, the firm anticipates the company's lithium salt shipment volume to reach 210,000 tons, a year-on-year increase of 25%, with self-supply resources estimated at 130,000 to 140,000 tons; assuming a lithium carbonate price of CNY 150,000 per ton, this could contribute over CNY 9 billion in profits [1]