Ann: 2019 Half Year Results Presentation, page-63

At least these guys are making a profit........for now

Love that word..... Avalanche
Slump in lithium prices hammers profits at China's Ganfeng

Tom Daly
3 MIN READ


BEIJING (Reuters) - China’s biggest lithium producer, Ganfeng Lithium Co (002460.SZ) (1772.HK), saw its first-half profits plunge 59% as rising supply of the material used in batteries for electric cars caused a slump in prices.
Ganfeng, which supplies lithium used in rechargeable batteries to electric vehicle (EV) maker Tesla (TSLA.O), had flagged last month that it expected a sharp decline in first-half earnings. On Wednesday, it said its net income totaled 295.8 million yuan ($41.70 million) for January to June, versus a restated figure of 725.3 million yuan a year earlier.
Revenues rose 21% to 2.82 billion yuan thanks to bigger sales volumes, Jiangxi-based Ganfeng said, but slumping lithium prices meant the company was unable to cash in.
Prices of lithium carbonate, a chemical used in EV batteries, have dropped nearly 20% this year to around $9.25 per kg amid an “avalanche” of supply, consultancy CRU said last week.