Ganfeng lithium industry expects to make a profit of 700-10 million yuan in the first quarter, down 96%-97% from the same period last year

SMM: April 14, Ganfeng lithium industry released the first quarter of 2020 results forecast: January 1, 2020 to March 31, 2020 expected profit of 7 million yuan-10 million yuan, the same period last year profit of 253 million yuan, down 96%-97%.

Ganfeng Lithium said that the price of lithium salt in the reporting period fell from the same period last year, affecting the company's profit growth, as a result of the outbreak of the new coronavirus, affecting some of the company's production capacity, resulting in a slight decline in production and sales this period compared with the same period last year.

The stock price of the financial assets held by the company falls, which leads to the loss of the fair value change in the current period and then affects the profit of the company.

Data show that Ganfeng Lithium Industry is the third largest lithium compound manufacturer in the world and the largest lithium compound manufacturer in China and the largest lithium metal manufacturer in the world. Ganfeng Lithium Industry has the production capacity of more than 40 kinds of lithium compounds and metal lithium products in five categories. Ganfeng Lithium Industry is one of the most complete manufacturers of lithium series products, and its perfect product supply portfolio can meet the unique and diversified needs of customers.

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