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China's Ganfeng Lithium expects up to 528% net profit growth in third quarter

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(Kitco News) - China's Ganfeng Lithium, the world’s largest lithium metal producer, said today that in Q3 2021, the company expects net profit of between RMB915,200,000 (~$142 million) and RMB1,092,000,000 (~$170 million), an increase of between 425.98% and 527.59% as compared with the corresponding period last year.

Ganfeng noted that during the current reporting period, the production and sales volume of the products of the company increased as compared to the corresponding period last year, and that the average sales price of the products increased as compared to the corresponding period last year, which result in the year-on-year increase of the company’s operating net profit.

Ganfeng Lithium assets are located across the globe and it is the only company in the lithium industry that has the commercial scale technologies to extract lithium from brine, ore and recycled materials. The group’s lithium compound capacity ranks third worldwide, first in China, and it is the world’s largest lithium metal producer. The group has complete battery manufacturing and recycling technology.

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