On June 2, Ganfeng Lithium fell 3.08% in regular trading, trading at HK$61.05/share, with trading volume of HK$168 million, extending its recent weakness.

On the news front, CATL announced plans to mass-produce sodium-ion batteries this year, triggering market concerns over potential lithium demand substitution in energy storage and low-speed EV applications. Concurrently, the lithium carbonate futures main contract has retreated below 180,000 yuan/ton after touching a near three-year high in mid-May, with price declines continuing to pressure lithium sector valuations. Additionally, the company's recent final investment decision with Mineral Resources on the Mt Marion lithium mine project, involving total capital expenditure of approximately US$490 million, has fueled market concerns over heightened financial burden. Peer stock Tianqi Lithium also declined 3.18% on the same day, reflecting broad-based pressure across the lithium mining sector.

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