Ganfeng Lithium Reports Strong 1H26 Earnings, Plans Expansion Amid Rising Lithium Prices

Published: Jul 16, 2026 15:09

Save

[SMM Lithium Battery] Soochow Securities research report noted that Ganfeng Lithium (002460.SZ) delivered results in line with our expectations, with the rise in lithium prices contributing to earnings flexibility.

SMM, July 15, a Soochow Securities research report noted that Ganfeng Lithium (002460.SZ) delivered results in line with our expectations, with the rise in lithium prices contributing to earnings flexibility. The company pre-announced 1H26 net profit attributable to shareholders of 3.65-4.6 billion yuan, up 787%-966% YoY; of which, 2Q26 net profit attributable to shareholders was 1.81-2.76 billion yuan, ranging from -1% to +50% QoQ, with a midpoint of 2.29 billion yuan, up 25% QoQ. For the full year, the lithium carbonate price center is expected to consolidate at 150,000-180,000 yuan/mt, and we estimate the corresponding profit contribution at 8-9 billion yuan. Additionally, the company will accelerate construction of Goulamina Phase II, CO Phase II, and the PPG salt lake, with long-term attributable self-owned resources expected to reach over 250,000 mt. The battery business saw further QoQ improvement in profitability in 2Q26, the potash business is gradually materializing, and the phosphate ore business contributes steady profits.

SMM New Energy Research Team

Wang Cong 021-51666838

Feng Disheng 021-51666714

Yang Zhaoxing 021-20707860

Wang Zihan 021-51666914

Wang Jie 021-51595902

Chen Bolin 021-51666836

Wang Yizhou 021-51595909

Xu Mengqi 021-20707868

Hu Xuejie 021-20707858

Lin Ziya 021-51666902

Yang Le 021-51595898

Li Yisha 021-51666730

Wang Zhaoyu 021-51666827

Xiao Wenhao 021-51666872

Zhang Jing 021-51666878

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

5 mins ago

[SMM Analysis] Spot lithium carbonate prices drifted lower, and downstream buying the dip was active.

5 mins ago

23 mins ago

[SMM Flash] India Faces Sulfur Export Ban

According to feedback from an Indian refinery, the relevant national authorities have issued a directive to prioritise domestic sulfur supply and ban exports, in order to safeguard local availability. Trade data shows that India's sulfur exports are heavily concentrated on the Chinese market. According to WITS data, in 2024 India's exports of crude or unrefined sulphur totalled approximately US$81.02 million, with a volume of about 805.2 million kg (approximately 805,200 tonnes). Among this, exports to China reached US$78.33 million, with a volume of about 797.2 million kg (approximately 797,200 tonnes), accounting for roughly 99% of India's total sulfur exports. Other major destinations included Tanzania, South Africa, Sri Lanka, and Australia, but in very limited quantities. Previously, Indian industry lobbying groups had repeatedly called on the New Delhi government to ban sulfur exports. Of India's annual sulfur demand of about 2 million tonnes, more than half is met by imports, nearly half of which come from the Middle East. The immediate trigger for this export ban is the severe disruption to shipping in the Strait of Hormuz caused by geopolitical conflicts in the Middle East, which has continuously tightened global sulfur supply.

23 mins ago

39 mins ago

CATL and Alfen to Deploy 5 GWh Sodium-Ion Battery Storage in Europe by 2027

Recently, CATL signed a Memorandum of Understanding with Alfen N.V., a leading new energy integrator in Europe. The two parties plan to deploy 5 GWh of Tianheng sodium-ion battery energy storage systems in Western European countries such as the Netherlands starting from 2027. The Tianheng sodium-ion battery energy storage system boasts a 25-year ultra-long lifespan, with an overall RTE increase of nearly 2% and lower life cycle costs. At the same time, it is compatible with LFP systems, allowing Alfen to be more flexible in battery material selection and reducing the impact of lithium price fluctuations. This signing marks the first deployments of the Tianheng sodium-ion battery energy storage system in the European market. Seizing this opportunity, CATL will accumulate localized experience in applying sodium-ion batteries on the European power grid, enhance product compatibility with European grid standards, thereby accelerating the large-scale popularization of sodium-ion battery energy storage technology in Europe and promoting Europe's zero-carbon and diversified energy transition.

39 mins ago