Ganfeng Lithium Industry expects net profit to increase by 419.87% 524.74% in the third quarter compared with the same period last year.

SMM: Ganfeng Lithium Industry announced that the net profit attributed to shareholders of listed companies in the first three quarters of 2020 is expected to be 330 million yuan to 365 million yuan, an increase of 0.25% to 10.89% over the same period last year. Among them, the net profit belonging to shareholders of listed companies in the third quarter was 173.5148 million yuan to 208.5148 million yuan, up 419.87% and 524.74% over the same period last year.

The reasons for the performance changes are as follows: 1, during the reporting period, the company's production and sales volume of lithium salt products increased compared with the same period last year, but the price of lithium salt products decreased compared with the same period last year, affecting the company's operating income and profit growth; 2, during the reporting period, the company's battery sector capacity release, sales growth, to provide the company with supplementary performance; 3, the company's Pilbara shares held by the company rebounded during the reporting period.