Ganfeng Lithium Faces Profit Decline Amid Asset Growth

Ganfeng Lithium Co (HK:1772) has released an update.

Ganfeng Lithium Co. reported a substantial decline in its financial performance for the third quarter of 2024, with operating income dropping by 42.46% and net profit plummeting by 24.85% compared to the same period last year. The company’s total assets saw a modest increase, but net profit after deductions showed a significant loss. Despite this, the net cash flow from operating activities surged by nearly 400%, offering some financial resilience amidst the downturn.

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