Goldman Sachs: Raises Ganfeng Lithium (01772.HK) target price to HKD 28; Interim results worse than expected, rated "Neutral"

According to the Securities Times app, Goldman Sachs released a research report stating that Ganfeng Lithium (01772.HK) reported a net loss of 536 million yuan in the first half of the year, a decrease from the 759 million yuan loss in the same period last year. Excluding one-time items, the recurring net loss was 442 million yuan, compared to a recurring profit in the same period last year. The bank pointed out that the performance was below expectations, mainly due to lower-than-expected profits from lithium chemicals. The company has also not announced any interim dividends this year. The bank maintains a "neutral" rating for Ganfeng H shares with a target price raised from 19 Hong Kong dollars to 28 Hong Kong dollars, and maintains a "sell" rating for Ganfeng A shares (002460.SZ) with a target price raised from 21.4 yuan to 30.5 yuan.