Ganfeng Lithium (01772.HK) 2025 Hotness Analysis: Lithium Price Rebound and Performance Improvement Drive Stock Price Performance

Jiangxi Ganfeng Lithium Group Co., Ltd. is a leading lithium product manufacturer in China, with a complete industrial chain covering lithium resource development, lithium salt deep processing, metallic lithium smelting, lithium battery manufacturing, and recycling [1]. Its products include lithium compounds, metallic lithium, and lithium batteries, which are widely used in electric vehicles, aerospace, functional materials, pharmaceuticals, and other fields, holding an important position in the global lithium industry [1]. The company is dual-listed on the Hong Kong Stock Exchange (01772.HK) and the Shenzhen Stock Exchange (002460.SZ) [1].

Lithium prices rebounded sharply; the price of lithium hexafluorophosphate doubled compared to mid-October, with mainstream transaction prices reaching up to 150,000 yuan/ton [7][8]. Bloomberg reported that optimistic expectations for lithium demand in the Chinese market drove the price increase, and the company’s chairman predicted a 30% demand growth next year [7].

The company turned around from loss to profit in the third quarter of 2025, with revenue increasing by 44% year-on-year and gross margin rising to 16.6% [1], showing significant performance improvement.

Several investment banks raised the company’s target price: CLSA raised the target price to HK$58 and maintained the ‘Outperform’ rating [5]; HSBC Research raised it to HK$33.4, expecting the company to benefit from reduced lithium supply [6].

The company has already laid out plans in the solid-state battery field; its subsidiary Ganfeng International plans to issue US$100 million in exchangeable notes to the China-Africa Fund to further support the development of related businesses [3].

Global electric vehicle sales continue to grow; global PEV sales increased by 28.5% in 2024, with China contributing 86% of the growth, driving up lithium demand [8] and providing impetus for the company’s long-term development.

As an important enterprise in the global lithium industry, Ganfeng Lithium is expected to continue to benefit from lithium price rebound and growing EV demand in the future. The company’s complete industrial chain layout and technical reserves (such as solid-state batteries) will enhance its competitiveness [3][7][8].