On July 24, GANFENGLITHIUM declined 3.01% in regular trading, trading at HKD 39.8/share, with turnover of HKD 81.79 million. The stock retreated following an over 10% surge in the prior session on its H shares and a 7.93% gain on its A shares, triggering evident short-term profit-taking pressure.

On the news front, three government departments confirmed that a 2% consumption tax on lithium batteries will take effect starting September, prompting downstream buyers to slow procurement and further suppressing lithium salt demand expectations. Although the company's H1 earnings preview showed net profit of RMB 3.65 billion to RMB 4.6 billion, representing a turnaround from losses, Q2 sequential growth decelerated notably, with quarter-over-quarter profit change ranging from -1.3% to +50.4%. The positive earnings catalyst appears largely priced in. Peer TIANQI LITHIUM fell 1.34% on the same day, with the broader sector trending weak.

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