Da Hua Ji Xian: Ganfeng Lithium Group (01772) Target Price Raised to 90 Hong Kong Dollars, Maintains "Buy" Rating.

Dahua Jixian released a research report stating that they maintain a "buy" rating on Ganfeng Lithium Group (01772) and have raised the target price of the H shares from HK$78 to HK$90; the target price of the A shares of Ganfeng Lithium Group (002460.SZ) has been raised from RMB 72 to RMB 80. Dahua Jixian maintains the forecast of the net profit of Ganfeng Lithium Group in 2025 at RMB 4.07 billion, based on the expected lithium salt sales volume of 180,000 tons LCE (a year-on-year increase of 39%). It is estimated that the net profit in the fourth quarter of 2025 will be RMB 382 million, while the market generally expects it to be RMB 438 million. Considering higher sales volumes (180,000 tons LCE in 2026 and 270,000 tons LCE in 2027) and higher lithium salt prices (RMB 160,000 and RMB 200,000 per ton in 2026/2027), the bank has raised the net profit forecast for Ganfeng Lithium Group in 2026 and 2027 by 67% and 58% respectively, to RMB 3.21 billion and RMB 5.24 billion.