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<Research> Macquarie Raises TP for Ganfeng Lithium (01772.HK) to HKD86 Due to Lithium Price Increase
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Macquarie published a research report stating that Ganfeng Lithium (01772.HK) recorded a net profit of RMB16.13 billion last year, close to the upper limit of its profit alert forecast. The net profit for the fourth quarter of last year was RMB16 billion, compared to a net loss of RMB14 billion in the fourth quarter of 2024, mainly benefiting from the rise in lithium prices during the period. The company plans to increase capital for its battery subsidiary to further expand its downstream battery business. The firm believes that the battery business will be another driver of revenue and profit growth beyond lithium. At the same time, the firm expects lithium prices to be supported, primarily due to the Chinese government's policy on energy storage system capacity tariffs, which is expected to enhance profitability and drive further construction of energy storage stations. Additionally, supply disruptions in Jiangxi and Zimbabwe are tightening supply. The firm adjusted its lithium price forecast, raising Ganfeng Lithium's net profit forecasts for 2026 and 2027 by 8% and 9% to RMB44 billion and RMB50 billion, respectively, and introduced a forecast of RMB56 billion for 2028. The target price was raised from HKD83.5 to HKD86, maintaining an "Outperform" rating. (ss/j) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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