GANFENG LITHIUM(002460) 格隆汇APP·2025-03-29 07:59Core Viewpoint - The lithium industry has undergone significant adjustments over the past year, with Ganfeng Lithium reporting its first annual loss since its listing, and a revenue decline of over 40% in 2024 [1][4]. Financial Performance - Ganfeng Lithium's 2024 revenue was 18.91 billion yuan, a year-on-year decrease of 42.66% from 32.97 billion yuan in 2023 [4][6]. - The net profit attributable to shareholders was -2.07 billion yuan, down 141.93% from a profit of 4.95 billion yuan in the previous year [4][6]. - The company's total liabilities reached 53.24 billion yuan, a 35.20% increase compared to the previous year [5][6]. - The asset-liability ratio stood at 52.80%, with total assets of 100.83 billion yuan, reflecting a 9.96% increase from the beginning of the year [4][5]. Market Conditions - The price of lithium carbonate has shown a downward trend, dropping from 101,000 yuan per ton at the beginning of 2024 to 75,000 yuan per ton, a decline of 25.74% [7]. - The average selling price of lithium chemical materials decreased by 21.04% in the second half of 2024 compared to the first half, while lithium battery products saw a 10% price drop [8]. Production Capacity and Expansion Plans - Despite the losses in 2024, Ganfeng Lithium continues to expand its production capacity, aiming to achieve an annual production capacity of no less than 600,000 tons of lithium products by 2030 [9]. - The company has several projects in progress, including a 25,000-ton lithium hydroxide project in Fengcheng and a 50,000-ton lithium salt project in Sichuan, expected to be operational by the end of 2024 [10]. Production Facilities - Ganfeng Lithium operates multiple production bases with significant design capacities, including: - 81,000 tons/year of lithium hydroxide in Xinyu, Jiangxi - 40,000 tons/year of lithium carbonate in Argentina [11].