{"id":8749,"date":"2023-05-15T02:55:43","date_gmt":"2023-05-15T06:55:43","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/chinas-ganfeng-lithium-shares-jump-on-expansion-plans\/"},"modified":"2023-05-15T02:55:44","modified_gmt":"2023-05-15T06:55:44","slug":"chinas-ganfeng-lithium-shares-jump-on-expansion-plans","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=8749","title":{"rendered":"China\u2019s Ganfeng Lithium shares jump on expansion plans"},"content":{"rendered":"
\n

Chinese lithium producer Ganfeng Lithium shares jumped in both Hong Kong and China, as investors welcomed the company\u2019s latest move to expand its mining and battery production businesses.<\/p>\n

The company\u2019s Hong Kong-listed shares
\n 1772,
\n +6.58%<\/bg-quote>
\n have gained as much as 8.0% and were last up by 5.5%. In Shenzhen, Ganfeng Lithium shares
\n 002460,
\n +8.67%<\/bg-quote>
\n advanced 6.9%.<\/p>\n

\n

The rally came after the company said it agreed to invest 2.5 billion yuan (US$359.3 million) in the Chinese city of Xiangyang to build a new lithium battery project.<\/p>\n

In a separate filing Friday, Ganfeng Lithium said it will inject fresh capital of up to US$130 million into an Argentina subsidiary to further the development of an lithium mine there.<\/p>\n

Analysts are optimistic about Ganfeng\u2019s strategy to boost lithium production and diversify into battery businesses.<\/p>\n

The company is \u201cactively developing upstream lithium resources, which would not only allow Ganfeng to secure raw materials at a low cost, but would also underpin more lithium output growth potential,\u201d Eastmoney Securities analysts said in a note.<\/p>\n

The analysts also liked Ganfeng\u2019s move to expand its battery business. The segment has delivered \u201ceye-catching\u201d performance in recent quarters, and is set to become \u201cone of the company\u2019s core businesses in 2023, fueling profit growth,\u201d the Eastmoney analysts said, keeping an \u201cadd\u201d rating on the stock. The brokerage does not have a target price for Ganfeng.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Chinese lithium producer Ganfeng Lithium shares jumped in both Hong Kong and China, as investors welcomed the company\u2019s latest move to expand its mining and battery production businesses. The company\u2019s Hong Kong-listed shares 1772, +6.58% have gained as much as 8.0% and were last up by 5.5%. In Shenzhen, Ganfeng Lithium shares 002460, +8.67% advanced […]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-8749","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nChina\u2019s Ganfeng Lithium shares jump on expansion plans | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Chinese lithium producer Ganfeng Lithium shares jumped in both Hong Kong and China, as investors welcomed the company\u2019s latest move to expand its mining\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=8749\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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