Earnings Alerts

Jiangxi Ganfeng Lithium (002460) Earnings: Preliminary 1H Net Loss of Up to 1.25B Yuan



  • Ganfeng Lithium announced a preliminary net loss between 760 million yuan and 1.25 billion yuan for the first half of 2024.
  • After excluding non-recurring profit or loss, the net loss is estimated to be between 100 million yuan and 200 million yuan.
  • Preliminary basic loss per share is projected to be between 0.38 yuan and 0.62 yuan, compared with earnings per share of 2.90 yuan in the same period last year.
  • A key factor in the loss was the decline in the share price of Pilbara Minerals Limited, a financial asset held by Ganfeng Lithium, which led to a significant fair value loss.
  • The company also cited falling prices of lithium salts and lithium batteries as contributing factors.
  • Market analysts have issued 24 buy ratings, 3 hold ratings, and 5 sell ratings on the stock.


A look at Jiangxi Ganfeng Lithium Smart Scores

FactorScoreMagnitude
Value4
Dividend4
Growth4
Resilience3
Momentum3
OVERALL SMART SCORE3.6

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on the Smartkarma Smart Scores, Jiangxi Ganfeng Lithium has a positive long-term outlook across various factors. With strong scores in Value, Dividend, and Growth at 4, the company shows promising potential for investment returns and financial stability. The Resilience score of 3 indicates a moderate level of stability in challenging market conditions, while the Momentum score of 3 suggests a steady growth trajectory.

Jiangxi Ganfeng Lithium Co., Ltd. excels in the production and research of lithium products, along with managing import, export, and manufacturing operations. Its diverse range of products, including lithium metal, lithium aluminum hydride, and lithium fluoride, positions the company well in the growing lithium market. With its overall positive Smart Scores, Jiangxi Ganfeng Lithium demonstrates a solid foundation for long-term growth and potential profitability in the industry.

Summary of the company:
### Jiangxi Ganfeng Lithium Co., Ltd. researches and produces lithium products and operates import, export, and manufacturing businesses for its own products. The Company’s products include lithium metal, lithium aluminum hydride, lithium fluoride, lithium chloride, and other chemical products of lithium. ###


Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.


 

πŸ’‘ Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • βœ“ Unlimited Research Summaries
  • βœ“ Personalised Alerts
  • βœ“ Custom Watchlists
  • βœ“ Company Analytics and News
  • βœ“ Events & Webinars