Ganfeng Lithium sees net profit up by 118% at RMB607 million
2017-08-29 18:09:17 [Print]
On August 24th, Ganfeng lithium announced the semi-annual report for 2017 with operating rate of RMB1.625 billion, up by 21% YOY; the company achieves net profit attributable to shareholders of listed companies of RMB607 million, up by 118.36% YOY.
According to the report, Ganfeng Lithium successfully put the Mt Marion lithium project of Australian RIM company into operation, in which Ganfeng holds 43.1% of stake and acquired 17.5% and 4.84% of stakes in Lithium Americas Corp and Australian Pilbara respectively, continuously expanding various supply channels of raw materials; the company intends to issue convertible bonds to collect funds of no more than RMB928 million to invest in projects of high volume lithium ion power battery with annual capacity of 600 million of kwh, battery grade lithium carbonate project of 15,000tpy and monohydrate lithium hydroxide of 20,000tpy; the company has completed construction the relocation butyl lithium of 1,000tpy and lithium chloride with by-product of 1,000t and put the project of comprehensive recycling of waste lithium battery of 34000t/a into operation by steps. In addition, the project of battery grade lithium carbonate project of 17,500tpy is under urgent construction.
On the same day, Ganfeng Lithium disclosed the performance report for the first three quarters in 2017, expecting to achieve net profit of RMB947 million to RMB1.19 billion in 2017, up by 95.00%-145.00% YOY compared with the figure of RMB486 million.
According to the report, Ganfeng Lithium successfully put the Mt Marion lithium project of Australian RIM company into operation, in which Ganfeng holds 43.1% of stake and acquired 17.5% and 4.84% of stakes in Lithium Americas Corp and Australian Pilbara respectively, continuously expanding various supply channels of raw materials; the company intends to issue convertible bonds to collect funds of no more than RMB928 million to invest in projects of high volume lithium ion power battery with annual capacity of 600 million of kwh, battery grade lithium carbonate project of 15,000tpy and monohydrate lithium hydroxide of 20,000tpy; the company has completed construction the relocation butyl lithium of 1,000tpy and lithium chloride with by-product of 1,000t and put the project of comprehensive recycling of waste lithium battery of 34000t/a into operation by steps. In addition, the project of battery grade lithium carbonate project of 17,500tpy is under urgent construction.
On the same day, Ganfeng Lithium disclosed the performance report for the first three quarters in 2017, expecting to achieve net profit of RMB947 million to RMB1.19 billion in 2017, up by 95.00%-145.00% YOY compared with the figure of RMB486 million.
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