---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/42236985.md"
description: "$TIANQI LITHIUM(09696.HK) and $GCL TECH(03800.HK) have both dropped by six or seven points, with lithium and photovoltaics pulling back together. Lithium carbonate prices have fallen to low levels, and polysilicon remains mired in overcapacity. The weakness at the upstream price end directly weighs on the profit expectations of these cyclical stocks. This wave in new energy materials is the agony at the bottom of the cycle. Without a bottom in prices, stock prices will struggle to stage a decent rebound, and can only grind along with the commodities. 😔"
datetime: "2026-06-26T10:45:20.000Z"
locales:
  - [en](https://longbridge.com/en/topics/42236985.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/42236985.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/42236985.md)
author: "[划水的anthropos](https://longbridge.com/en/profiles/27713104.md)"
---

# $TIANQI LITHIUM(09696.HK) and $GCL TECH(03800.HK) …


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