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One of the world's largest lithium chemical producers, supplying lithium hydroxide and carbonate for EV batteries, with global mining assets.
One of the world's largest lithium chemical producers, supplying lithium hydroxide and carbonate for EV batteries, with global mining assets.
Sells lithium chemicals to battery makers and lithium metal for other uses, at prices that follow the lithium market, and has taken mine stakes to secure raw material, including Mt Marion in Australia, Goulamina in Mali and the Cauchari-Olaroz project in Argentina. Founder Li Liangbin is chairman and controls it.
In one line: A Chinese Albemarle.
Moat: narrow (scale, installed base). Vertically integrated global mining-to-chemicals footprint gives supply security versus processors without own mines.
Headquarters: Xinyu, China · Founded: 2000 · Employees: 19,257
Size Ganfeng Lithium (1772.HK) is a Hong Kong Materials company (Chemicals: Specialty) with a market value of $9.76B, the 165th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$25.04 on 6 Nov 2026.
Performance Over six months the shares fell 71.9%, against -10.5% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 122.8% over the last twelve months (peer median +2.2%); the operating margin is 17.8% (peer median 12.7%).
Valuation It trades at 6.4× forward earnings against a peer median of 18.2× (cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 9% a year for seven years (Req g). Recent delivered growth is +32%, so the hurdle is -23 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.0 points below its cost of capital (8.0% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$42.0B | HK$24.7B | HK$20.3B | HK$36.3B | HK$48.1B |
| Revenue growth | — | +22% | -44% | -25% | — |
| Gross profit | HK$11.1B | HK$3.92B | HK$2.31B | HK$5.02B | HK$23.6B |
| EBITDA | HK$10.6B | HK$3.41B | HK$1.12B | HK$1.35B | HK$21.7B |
| Net income | HK$7.21B | HK$1.75B | -HK$2.24B | HK$5.51B | HK$23.8B |
| Free cash flow | HK$62.7M | -HK$3.55B | -HK$5.48B | -HK$6.17B | HK$12.4B |
| Capital expenditure | HK$5.48B | HK$8.05B | HK$10.00B | HK$9.55B | HK$5.76B |
| Total debt | n/a | HK$43.2B | HK$38.1B | HK$30.7B | HK$16.9B |
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 1772.HK | $9.76B | -72% | +123% | 18% | 6.4× | 9.0% |
| Tianqi Lithium 9696.HK | $8.79B | -64% | +116% | 57% | 5.0× | -10.8% |
| 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% |
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 | 1772.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.2% | -2.0% | 5th lowest of 21 |
| 6-month return | -71.9% | -10.5% | lowest of 21 |
| Distance from 52-week high | -72.5% | -29.6% | lowest of 21 |
| Revenue growth (TTM) | +122.8% | +2.2% | highest of 21 |
| Operating margin | 17.8% | 12.7% | 6th highest of 21 |
| Forward P/E | 6.4× | 18.2× | cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 9.0% | 9.3% | 8th least demanding of 16 |
| Growth delivered (Del g) | +32.0% | +10.4% | 3rd highest of 16 |
| Hurdle (Req g minus delivered) | -23.0 pp | +0.5 pp | 4th least demanding of 16 |
| ROIC minus cost of capital | -2.0 pp | -1.0 pp | 10th lowest of 21 |
| EV / EBITDA | 11.2× | 10.5× | 6th most expensive of 12 |
| Net debt / EBITDA | 3.2× | 1.9× | 3rd most indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ganfeng Lithium 1772.HK | Hong Kong | $9.76B | -72% | +123% | 18% | 6.4× | 9.0% | +32.0% |
| Tianqi Lithium 002466.SZ | China | $8.97B | -54% | +104% | 57% | 9.0× | -1.2% | +26.2% |
| Swancor Advanced Materials 688585.SS | China | $10.9B | +50% | +3% | -25% | n/a | n/a | n/a |
| Guangzhou Tinci Materials Technology 002709.SZ | China | $8.73B | -53% | +102% | 19% | 10.3× | 9.3% | +32.3% |
| 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% |
| Albemarle ALB | United States | $11.7B | -51% | +18% | 14% | 11.3× | 10.9% | +10.4% |
| Westlake WLK | United States | $8.11B | -32% | 0% | 1% | 38.6× | 37.4% | +8.3% |
| 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% |
| Symrise SY1.DE | Germany | $15.1B | +30% | -1% | 12% | 24.8× | 8.1% | +7.0% |
| Haohua Chemical Science & Technology 600378.SS | China | $6.29B | -9% | +20% | 9% | 22.1× | 11.0% | +25.2% |
| Nippon Sanso 4091.T | Japan | $15.3B | +1% | +10% | 15% | 16.9× | 7.8% | +10.7% |