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Ganfeng Lithium Co., Ltd. (002460.SZ)

Shenzhen - Shenzhen Delayed Price. Currency in CNY
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51.50-0.40 (-0.77%)
At close: 4:29PM CST
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Chart Events
Neutralpattern detected
Previous Close51.90
Bid51.49 x 0
Ask51.50 x 0
Day's Range51.48 - 52.80
52 Week Range21.05 - 69.94
Avg. Volume25,077,832
Market Cap63.981B
Beta (5Y Monthly)1.04
PE Ratio (TTM)302.94
Earnings DateN/A
Forward Dividend & Yield0.30 (0.58%)
Ex-Dividend DateJul 22, 2020
1y Target EstN/A
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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      China's Ganfeng sees first-half profit halve amid lithium price slump

      Ganfeng Lithium , one of the world's top lithium producers, said on Tuesday its net profit almost halved in the first six months of 2020 as prices for the commodity used in electric vehicle batteries continued to slump. The Chinese company's net income reached 156.49 million yuan ($22.6 million) in January through June, down 47.1% from the same period a year earlier, it said in a filing to the Shenzhen Stock Exchange, adding that the coronavirus had affected its performance and the whole lithium industry. Ganfeng, which makes battery-grade chemicals such as lithium carbonate and hydroxide and counts automaker Tesla Inc among its clients, said half-year revenue was down 15.4% at 2.39 billion yuan, saying this was mainly due to the downward trend of the lithium salt market and the drop in prices.

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      Lithium producers must wait as pandemic slows electric vehicle revolution

      The coronavirus pandemic has paused the electric vehicle revolution, forcing producers of battery metal lithium into survival mode with output cuts, expansion delays and sales of major assets. Lithium industry shares have dropped sharply since January as the economic downturn from the pandemic slammed the brakes yet again on the electrification revolution that for years has seemed just around the corner. The holdup will result in a shortage of the white metal available for EV batteries when markets rebound, warned industry analysts, executives and consultants.