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

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%