---
title: "\"Big Banks\" Citigroup: Ganfeng Lithium's core net profit in the first quarter meets expectations, with significant risks of rising lithium prices"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/283081580.md"
description: "Citigroup's research report indicates that Ganfeng Lithium's core net profit for the first quarter of this year met expectations, ranging from 1.6 billion to 2.1 billion RMB, benefiting from the sharp rise in the average price of lithium carbonate and strong battery demand. The risk of lithium price increases is significant, maintaining a \"Buy\" rating on Ganfeng Lithium, with a target price of HKD 66.7"
datetime: "2026-04-17T02:40:45.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/283081580.md)
  - [en](https://longbridge.com/en/news/283081580.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/283081580.md)
---

# "Big Banks" Citigroup: Ganfeng Lithium's core net profit in the first quarter meets expectations, with significant risks of rising lithium prices

Citigroup's research report indicates that Ganfeng Lithium (01772.HK) turned a profit in net income in the first quarter of this year, ranging from RMB 1.6 billion to 2.1 billion (the same below), with a core net profit of RMB 1.5 billion calculated at the median, in line with expectations. The performance was mainly benefited from a sharp rise in average selling prices, with the average price of lithium carbonate during the period being RMB 154,000 per ton, a quarterly increase of 75%. At the same time, downstream battery demand is strong; according to ZE Consulting, the production of batteries for electric vehicles and energy storage systems grew by 17% and 96% year-on-year, respectively; and marginal costs have also been reduced.

Considering the strong actual demand and the fluctuating factors of supply disruptions, the firm believes that the risk of lithium price increases is significant. It maintains a "Buy" rating on Ganfeng Lithium (01772.HK) with a target price of HKD 66.7

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