Loading…
Chinese lithium producer mining and processing lithium for batteries, with mining stakes worldwide and battery-material/recycling operations.
Chinese lithium producer mining and processing lithium for batteries, with mining stakes worldwide and battery-material/recycling operations.
Owns or buys spodumene and brine, converts them into lithium chemicals sold to battery makers, and also makes batteries, so it earns both a mining margin and a processing margin, and profit swings with lithium prices. Founder Li Liangbin controls it; interests include Mount Marion in Australia, Goulamina in Mali and Cauchari-Olaroz in Argentina.
In one line: China's Albemarle.
Moat: narrow (scale, installed base). Diversified global lithium resource ownership gives supply security versus processing-only competitors.
Headquarters: Xinyu, Jiangxi, China · Founded: 2000 · Employees: 19,257
Size Ganfeng Lithium (002460.SZ) is a China Materials company (Chemicals: Specialty) with a market value of $9.71B, the 259th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥38.22 on 6 Nov 2026.
Performance Over six months the shares fell 56.9%, against -12.2% for the median peer and -16.4% for the China market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 127.6% over the last twelve months (peer median +2.2%); the operating margin is 17.7% (peer median 12.7%).
Valuation It trades at 11.5× forward earnings against a peer median of 21.0× (6th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +33%, so the hurdle is -29 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.7 points below its cost of capital (8.6% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥44.6B | CN¥23.1B | CN¥18.9B | CN¥32.9B | CN¥41.5B |
| Revenue growth | — | +22% | -43% | -21% | — |
| Gross profit | CN¥13.5B | CN¥3.41B | CN¥1.86B | CN¥4.44B | CN¥20.3B |
| EBITDA | n/a | CN¥2.05B | CN¥1.14B | CN¥1.05B | CN¥18.6B |
| Net income | CN¥6.60B | CN¥1.61B | -CN¥2.07B | CN¥4.95B | CN¥20.5B |
| Free cash flow | CN¥2.71B | -CN¥3.17B | -CN¥4.02B | -CN¥5.97B | CN¥9.39B |
| Capital expenditure | CN¥4.13B | CN¥7.42B | CN¥9.22B | CN¥8.65B | CN¥4.95B |
| Total debt | CN¥42.2B | CN¥37.8B | CN¥39.2B | CN¥30.2B | CN¥17.0B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Ganfeng Lithium 002460.SZ | $9.71B | -57% | +128% | 18% | 11.5× | 4.4% |
| Tianqi Lithium 002466.SZ | $8.97B | -54% | +104% | 57% | 9.0× | -1.2% |
| Albemarle ALB | $11.7B | -51% | +18% | 14% | 11.3× | 10.9% |
| Sociedad Quimica y Minera de Chile S.A. Sponsored ADR Pfd Series B SQM | $16.0B | -37% | +59% | 39% | 7.3× | -4.8% |
| PLS PLS.AX | $6.33B | -56% | +152% | 43% | 10.6× | 2.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 002460.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -13.6% | -1.3% | 5th lowest of 21 |
| 6-month return | -56.9% | -12.2% | lowest of 21 |
| Distance from 52-week high | -58.3% | -29.6% | 2nd lowest of 21 |
| Revenue growth (TTM) | +127.6% | +2.2% | highest of 21 |
| Operating margin | 17.7% | 12.7% | 7th highest of 21 |
| Forward P/E | 11.5× | 21.0× | 6th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 4.4% | 10.9% | 5th least demanding of 16 |
| Growth delivered (Del g) | +33.1% | +10.4% | 2nd highest of 16 |
| Hurdle (Req g minus delivered) | -28.8 pp | +1.2 pp | 2nd least demanding of 16 |
| ROIC minus cost of capital | -0.7 pp | -1.0 pp | 11th highest of 21 |
| Net debt / EBITDA | 3.2× | 1.4× | 3rd most indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ganfeng Lithium 002460.SZ | China | $9.71B | -57% | +128% | 18% | 11.5× | 4.4% | +33.1% |
| Tianqi Lithium 002466.SZ | China | $8.97B | -54% | +104% | 57% | 9.0× | -1.2% | +26.2% |
| Guangzhou Tinci Materials Technology 002709.SZ | China | $8.73B | -53% | +102% | 19% | 10.3× | 9.3% | +32.3% |
| Swancor Advanced Materials 688585.SS | China | $10.9B | +50% | +3% | -25% | n/a | n/a | n/a |
| Formosa Chemicals & Fibre 1326.TW | Taiwan | $11.1B | +21% | -5% | 1% | 21.0× | 26.2% | +2.5% |
| Shandong Hualu-Hengsheng Chemical 600426.SS | China | $8.27B | -32% | +3% | 16% | 12.3× | -2.5% | +18.7% |
| Westlake WLK | United States | $8.11B | -32% | 0% | 1% | 38.6× | 37.4% | +8.3% |
| Albemarle ALB | United States | $11.7B | -51% | +18% | 14% | 11.3× | 10.9% | +10.4% |
| Formosa Plastics 1301.TW | Taiwan | $12.1B | +22% | -11% | -2% | 21.4× | n/a | n/a |
| Satellite Chemical 002648.SZ | China | $12.4B | -17% | +20% | 23% | 7.2× | -13.2% | +33.8% |
| Resonac 4004.T | Japan | $12.6B | -26% | +1% | 8% | 18.0× | 26.7% | +6.7% |
| Lgchem 051910.KS | South Korea | $12.6B | -42% | 0% | 0% | n/a | n/a | n/a |
| Eastman Chemical EMN | United States | $7.37B | -13% | 0% | 10% | 10.2× | 5.1% | +0.7% |
| Zhejiang Juhua 600160.SS | China | $13.1B | -12% | -5% | 20% | 18.2× | n/a | n/a |
| Croda International CRDA.L | United Kingdom | $6.88B | +31% | +3% | 16% | 23.3× | 19.9% | +4.1% |
| Covestro 1COV.DE | Germany | $14.0B | 0% | -9% | -3% | 200.3× | n/a | n/a |
| SOL SOL.MI | Italy | $6.39B | +6% | +9% | 14% | 30.5× | 16.9% | +12.8% |
| NewMarket NEU | United States | $6.39B | +1% | +1% | 20% | n/a | -0.8% | +6.3% |
| Haohua Chemical Science & Technology 600378.SS | China | $6.29B | -9% | +20% | 9% | 22.1× | 11.0% | +25.2% |
| Symrise SY1.DE | Germany | $15.1B | +30% | -1% | 12% | 24.8× | 8.1% | +7.0% |
| Linde India LINDEINDIA.NS | India | $6.20B | -13% | +13% | 22% | 97.2× | 47.9% | +11.5% |