Hong Kong's "Lithium Duo" Extends Rally: Ganfeng Lithium and Tianqi Lithium Surge Over 5%
Deep News
Oct 31
Hong Kong's "lithium duo" continued their upward momentum, with Ganfeng Lithium Group Co., Ltd. (01772.HK) rising nearly 6% to HK$57.4, following a 15% surge the previous day. Tianqi Lithium Corporation (09696.HK) also climbed over 5% to HK$52.6, after gaining more than 9% in the prior session.
The rally comes as lithium producers recently released their third-quarter earnings reports, signaling a recovery in profitability at the industry's bottom and highlighting structural divergences. Benefiting from rebounding lithium prices in Q3, Ganfeng Lithium posted a 364.02% year-on-year surge in net profit attributable to shareholders, while Tianqi Lithium returned to profitability during the quarter.
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