Gasgoo Munich- Ganfeng Lithium (002460) released its third-quarter report for 2026 on Oct. 15. Driven by a rebound in lithium prices and rising battery sales, the company reported significant growth. Revenue for the first three quarters reached 36.159 billion yuan, up 147.24% year-on-year. Net profit attributable to shareholders increased to 5.012 billion yuan, a 19,540.5% rise, while non-recurring net profit climbed 592.14% to 4.636 billion yuan.
For the third quarter of 2026 alone, revenue was 13.062 billion yuan, up 109.03% year-on-year. Net profit attributable to shareholders reached 755 million yuan, a 35.62% rise, while non-recurring net profit surged 2,803.44% to 788 million yuan.
Image Source: Ganfeng Lithium announcement
Ganfeng attributed the surge to higher selling prices for lithium products and increased shipments of lithium batteries. Since the beginning of the year, downstream demand has steadily recovered, particularly in energy storage and rapid growth in new energy vehicle exports. This has driven a significant year-on-year rise in lithium salt market prices, boosting both volume and value in the company's lithium salt business and lifting overall performance.
Operationally, the lithium battery division is running near full capacity, with shipments increasing sharply year-on-year. At the same time, the company is ramping up production at high-quality upstream projects like the Argentina salt lakes. This has optimized the cost structure, achieved economies of scale, and significantly reduced the expense ratio.
As a global leader in the lithium ecosystem, Ganfeng Lithium spans the entire value chain, from resource development and lithium salt processing to battery manufacturing. Its products are widely used in new energy vehicles, energy storage, and consumer electronics.
The low profit base from last year, combined with a significant increase in lithium prices, fueled the sharp rise in net profit. With demand for energy storage and new energy vehicles remaining robust, the lithium sector's upward trend is set to continue, making the company's full-year performance one to watch.
