Ganfeng Lithium Group Co Ltd Class A
002460: XSHE (CHN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
¥44.20 | Mxzmvrs | Jkzsxnlt |
Ganfeng Earnings: Revenue in Line, but Margin and Net Profit Missed on Lithium Price Decline
Narrow-moat Ganfeng reported first-quarter revenue growth of 76% year over year, but net profit dropped 32% to CNY 2.4 million, accounting for 14% of our full-year estimate. With first-quarter average lithium prices plunging more than 20% from a record fourth quarter last year, gross margin contracted 29 percentage points from a year ago.