Chengxin’s Shares Stay Subdued Despite Planned Lithium Salt Supply Deal Worth Up to USD2.4 Billion
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Chengxin Lithium Group's shares remained subdued despite announcing a potential USD2.4 billion lithium salt supply deal with a strategic investor. The stock [SHE:002240] fluctuated, closing up 1.9% at CNY38.12. The share price has surged 43% since Huayou Holdings announced a 6% stake acquisition. Huayou plans to buy 221,400 tons of lithium salt over five years, with the deal's value potentially reaching CNY17.2 billion. Chengxin's production capacity is 137,000 tons annually, including 60,000 tons in Indonesia.
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