---
title: "News: Lithium prices rebound, Ganfeng Lithium forecasts a profit in the first quarter after losses"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/283097671.md"
description: "Lithium producer Jiangxi Ganfeng Lithium Group expects a net profit of between 1.6 billion and 2.1 billion yuan in the first quarter of 2023, a significant rebound from a loss of 356 million yuan in the same period last year. The improvement in performance is mainly attributed to the expansion of the global new energy industry, the recovery in lithium salt demand, and the increase in product prices. In addition, the release of lithium resource project capacity and the growth in demand for power batteries have also driven the production and sales volume of lithium batteries. The company's holdings in PLS Group stocks increased, bringing approximately 259 million yuan in earnings. On Friday, the stock price closed at HKD 82.75, down 1.66%"
datetime: "2026-04-17T06:10:56.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/283097671.md)
  - [en](https://longbridge.com/en/news/283097671.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/283097671.md)
---

# News: Lithium prices rebound, Ganfeng Lithium forecasts a profit in the first quarter after losses

Lithium producer **Ganfeng Lithium Group Co., Ltd.** (1772.HK; 002460.SZ) announced on Thursday that for the three months ending in March, net profit is expected to be between 1.6 billion and 2.1 billion yuan (USD 308 million), a significant rebound from a loss of approximately 356 million yuan in the same period last year.

The company stated that the improvement in performance is mainly due to the continuous expansion of the global new energy industry, which has significantly boosted the demand for lithium salts, along with a notable increase in product prices compared to the same period last year, providing support for revenue. Additionally, as the production capacity of lithium resource projects is gradually released, the company's cost structure continues to optimize. Meanwhile, the growth in demand for power batteries and energy storage markets has also driven an increase in the production and sales volume of lithium batteries.

Furthermore, the rise in the stock price of Australian lithium miner PLS Group, in which the company holds shares, has brought about approximately 259 million yuan in fair value gains, contributing to profits.

The company's stock opened higher but fell throughout the day, closing at HKD 82.75 at noon, down 1.66%. The stock has risen approximately 61% year-to-date.

_Li Shida_

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