[SMM News] Lithium Africa receives two nonbinding funding offers for Springbok lithium project

Youngy announced that Q3 revenue was RMB915 million, up 343.61% YoY; net profit attributable to shareholders was RMB472 million, up 706.71% YoY. For the first three quarters, revenue was RMB2.439 billion, up 378.58% YoY; net profit attributable to shareholders was RMB1.473 billion, up 925.78% YoY. The change in performance was mainly due to substantial YoY increases in lithium concentrate output, sales volume and selling prices, as well as a substantial increase in net profit at associated lithium salt company Chengdu Youngy Lithium, which led to significant YoY profit growth.

Chengxin Lithium announced that Q3 revenue was RMB4.268 billion, up 188.22% YoY; net profit was RMB220 million, up 148.26% YoY. For the first three quarters, revenue was RMB11.626 billion, up 275.69% YoY; net profit was RMB1.232 billion, up 263.76% YoY. During the reporting period, affected by industry supply-demand dynamics and other factors, market prices of lithium salt products rose significantly YoY. The company continued to optimize production efficiency and implement cost-control and efficiency-improvement measures. Capacity at its Indonesia lithium salt plant was substantially released. In the first three quarters, lithium salt products achieved increases in both volume and price, and operating performance improved significantly YoY.