Zhi Tong Cai Jing·2026-01-31 22:34Core Viewpoint - DBS maintains a "Buy" rating for Ganfeng Lithium (01772), significantly raising the target price for H-shares from HKD 39 to HKD 83, and for A-shares from CNY 45 to CNY 92, based on a projected P/E ratio of 40 times and a 20% discount of H-shares compared to A-shares [1] Group 1 - Ganfeng Lithium is expected to achieve a net profit between CNY 1.1 billion and CNY 1.65 billion in the fiscal year 2025 [1] - The company is anticipated to maintain high lithium prices until mining permits are obtained for its Jiangxi lithium mine, with profitability in the lithium industry expected to rebound by 2026 [1] - The earnings per share forecast for Ganfeng Lithium has been raised to CNY 1.85 (HKD 2.07) for this year, supported by rising lithium product prices, improved profit margins, expansion in battery and energy storage businesses, and investment income [1]