China Lithium GiantsNotch Earnings Records on Supply Crunch
· Tianqi Lithium’s first-half net income up almost 12,000% y/y
· Ganfeng unveiled expansion plans for battery production
· China’s biggest lithium miners are enjoying a bumper earningsseason just as the price of the battery metal approaches record highs amid asupply crunch.
· Tianqi Lithium Corp.’s first-half net income skyrocketed by almost 12,000% from a year earlier to a record 10.3 billion yuan ($1.5 billion), it said in a filing on Tuesday. Ganfeng Lithium Co. reported net income soaring more than 400% in the first half to 7.25 billion yuan, although that was at the lower end of its forecast range
https://www.bloomberg.com/news/articles/2022-08-31/china-s-lithium-giants-notch-earnings-records-on-supply-crunch
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