HK Stock Market Move | Lithium mining stocks come under collective pressure as lithium carbonate futures fall below the 90,000 mark; under the lithium price pullback, companies' third-quarter results weaken quarter-on-quarter.

Lithium mining stocks come under collective pressure. As of press time, Ganfeng Lithium Group (01772) fell 3.69% to HK$22.46; Tianqi Lithium Corporation (09696) fell 2.62% to HK$23.82. On the news front, this afternoon, lithium carbonate futures continued to decline, with the main 2701 contract plunging more than 8%, falling below the 90,000 mark and hitting a new low since November 2025, down nearly 60% from this year's May high of 209,800 yuan. Affected by the lithium price pullback, lithium mining companies' third-quarter profits generally cooled. Ganfeng Lithium Group's third-quarter net profit attributable to shareholders was RMB755 million, down 68% quarter-on-quarter; Tianqi Lithium Corporation's third-quarter net profit was RMB1.36 billion, down 42% quarter-on-quarter. Cinda Futures pointed out that the market recently circulated news that Jianxiawo passed its environmental assessment and could resume production in early November; the weekly inventory data released by Mysteel yesterday showed a drawdown of about 3,000 tons, a sharp decline quarter-on-quarter. Combining the two, if Jianxiawo indeed resumes production as scheduled, then the weekly inventory drawdown within November could shrink significantly to 2,000 tons or even less, which would basically invalidate the earlier narrative of a year-end sprint rally.