|Bid||51.49 x 0|
|Ask||51.50 x 0|
|Day's Range||51.48 - 52.80|
|52 Week Range||21.05 - 69.94|
|Beta (5Y Monthly)||1.04|
|PE Ratio (TTM)||302.94|
|Forward Dividend & Yield||0.30 (0.58%)|
|Ex-Dividend Date||Jul 22, 2020|
|1y Target Est||N/A|
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.
South Korean retail investors are stampeding into Chinese stocks in record numbers, ploughing hundreds of millions of dollars into a tech sector rush far removed from punishing taxes and regulations on investment at home. In July alone, South Korean investors spent $240 million buying shares in mainland China, data from the Korea Securities Depository (KSD) showed - their largest investment in mainland markets on record.
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.