China's Ganfeng Lithium expects up to 528% net profit growth in third quarter
(Kitco News) - China's Ganfeng Lithium, theworld's largest lithium metal producer, said today that in Q3 2021, the companyexpects net profit of between RMB915,200,000 (~$142 million) andRMB1,092,000,000 (~$170 million), an increase of between 425.98% and 527.59% ascompared with the corresponding period last year.
Ganfeng noted that during thecurrent reporting period, the production and sales volume of the products ofthe company increased as compared to the corresponding period last year, andthat the average sales price of the products increased as compared to thecorresponding period last year, which result in the year-on-year increase ofthe company's operating net profit.
Ganfeng Lithium assets arelocated across the globe and it is the only company in the lithium industrythat has the commercial scale technologies to extract lithium from brine, oreand recycled materials. The group's lithium compound capacity ranks thirdworldwide, first in China, and it is the world's largest lithium metalproducer. The group has complete battery manufacturing and recyclingtechnology.
By Vladimir BasovFor Kitco News
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