Core Viewpoint - Ganfeng Lithium's stock has declined nearly 4%, with a current price of HKD 21.15, following the announcement of a significant expected drop in net profit for 2023, attributed to industry cyclicality and falling lithium prices [1] Financial Performance - The company expects net profit attributable to shareholders for 2023 to be in the range of RMB 4.2 billion to 6.2 billion, representing a year-on-year decline of approximately 69.76% to 79.52% [1] - The expected non-GAAP net profit is projected to be around RMB 2.3 billion to 3.4 billion, indicating a year-on-year decrease of about 82.96% to 88.47% [1] - Basic earnings per share are forecasted to be between RMB 2.09 and 3.08 [1] Industry Context - The decline in performance is primarily due to the cyclical nature of the lithium industry, with a slowdown in terminal demand growth and a significant drop in lithium salt product prices [1] - The price drop of lithium ore, which serves as a raw material for lithium salts and downstream products, has been less severe than that of lithium salts and downstream products, leading to a decrease in the company's gross margin [1] - The company has also made provisions for asset impairment according to accounting standards, contributing to the substantial year-on-year decline in performance [1]
港股异动 | 赣锋锂业(01772)跌近4% 预期2023年归母净利为42亿-62亿元 同比下降约69.76%-79.52%