On August 31, GANFENGLITHIUM fell 3.05% in regular trading, trading at HK$40.08/share, with turnover of HK$205 million, extending a streak of consecutive losses.

On the news front, although the company's H1 results disclosed on August 28 were strong — revenue reached RMB 23.097 billion, up 175.75% year-over-year, while attributable net profit swung to RMB 4.257 billion from a loss of RMB 531 million, representing a 901.36% turnaround — falling lithium carbonate spot prices continue to pressure the sector. H1 operating cash flow surged 342.24% to RMB 1.328 billion, and gross margin improved by 20.4 percentage points to 31.2%.

Adding to headwinds, CATL's Jianxiawo lithium mine — the world's largest proven spodumene-mica deposit with approximately 100,000 tonnes of annual lithium carbonate capacity — saw its environmental impact assessment acceptance notice withdrawn on August 26 due to public compliance concerns, though the broader market remains wary of future supply additions. Separately, lithium battery consumption tax at 4% takes effect September 1, raising cost pass-through concerns. Peer TIANQI LITHIUM also declined 1.94% on the same session, reflecting broad sector weakness.

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