Hong Kong Stock Concept Tracking | Lithium carbonate spot prices have surged significantly. Leading lithium mining companies show high performance elasticity (with concept stocks attached)

On May 6, the price of lithium carbonate approached the 200,000 yuan/ton mark, setting a new phase high and completely bidding farewell to the previous downturn. Goldman Sachs released a research report stating that due to the lack of greenfield investment projects in the short term, it indicates that the long-term supply elasticity of lithium is limited. Therefore, the future direction of the lithium cycle will mainly depend on demand intensity. To maintain the upward trend of the lithium market from 2026 to 2027, energy storage systems (ESS) and electric vehicles need to see a significant increase in demand. At the same time, Swiss investment bank UBS has stated that the "upward cycle of the lithium industry has returned" and has directly raised the target price of lithium carbonate to 41,875 US dollars/ton (equivalent to about 298,000 yuan/ton), predicting a nearly 50% surge. Meanwhile, unexpected production data for the lithium battery industry chain in May was exposed, with the entire chain collectively exceeding expectations, forming a strong resonance between supply and demand. The following Hong Kong-listed companies are involved in the lithium carbonate industry: Tianqi Lithium Corporation (09696): Tianqi's core assets are in Australia (Greenbushes) and Chile (SQM), but its global supply chain management capability is very strong. Tianqi Lithium Corporation responded on an interactive platform that as of the end of the first quarter of 2026, the company held approximately 21.90% of SQM's shares. SQM has the mining rights of the Atacama Salt Lake, which has the largest lithium reserves in the world. At the same time, through its subsidiary TLEA (the company holds 51% of the voting rights of TLEA), the company indirectly controls Wealthfield, holding 26.01% of Wealthfield's shares. Wealthfield's wholly-owned subsidiary Taylesen holds the mining rights of the largest producing lithium spodumene project in the world, the Greenbushes Lithium Spodumene Mine. Ganfeng Lithium Group (01772): In the first quarter, the company's operating income was 9.196 billion yuan, which was 143.81% higher than the same period last year. The net cash flow generated from operating activities was 787 million yuan, demonstrating a good cash flow situation. As for shareholding information, among the top ten shareholders, HKSCC NOMINEES LIMITED holds a shareholding ratio of 23.04%, and Li Liangbin holds 18.06%. It is estimated that the company's own equity resources can reach 130-150,000 tons in 26 years, with a profit contribution of around 9 billion yuan based on a lithium carbonate price of 150,000 yuan/ton in 2026. Zijin Mining Group (02899): As of 2025, Zijin Mining Group's lithium carbonate reserves reached 18.7 million tons, ranking 10th in the world in lithium carbonate production. The latest plan shows that in 2026, Zijin Mining Group's target production of lithium carbonate will be 120,000 tons; by 2028, this number will increase to 270,000 to 320,000 tons. Zijin Mining Group's lithium resources mainly come from four world-class core projects: the Argentina 3Q Salt Lake Lithium Mine, the Tibet Lago Salt Lake Lithium Mine, the Hunan Xiangyuan Hard Rock Lithium Polymetallic Mine, and the northeastern project of the Democratic Republic of Congo's Manono Lithium Mine. Jiangsu Lopal Tech. Group (02465): The company has successfully acquired the exploration rights for the Marble Bar Lithium Mine project in the Pilbara region of Western Australia. By strategically investing in the Australian listed company GL1 (holding approximately 5%), Jiangsu Lopal Tech. Group has locked in the stable supply of its flagship project Manna Lithium Mine for the next ten years. Starting from June 2028, the company will annually purchase 40% of the annual output of the project, ensuring a supply of at least 70,000 tons of lithium spodumene concentrate. CNGR Advanced Material (02579): CNGR Advanced Material has lithium mining resources in Argentina, with lithium resources equivalent to over 10 million tons of lithium carbonate equivalent (LCE). The company has two major salt lakes in Argentina, Jama and Solaroz, located in the core area of the South American "lithium triangle." According to the plan, production is expected to start gradually from 2028. In the long term, these lithium resources will be integrated into the company's global industrial chain to support its integrated development of "resources-smelting-materials-recovery."