Ganfeng Lithium Group Co., Ltd. — Earnings Release 2023

Jan 30, 2024

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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(A joint stock company incorporated in the People’s Republic of China with limited liability)

(Stock Code: 1772)

INSIDE INFORMATION PROFIT WARNING

This announcement is made by Ganfeng Lithium Group Co., Ltd. (the “ Company ”) and its subsidiaries (collectively, the “ Group ”) pursuant to Rule 13.09(2)(a) and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board of directors of the Company (the “ Board ”) wishes to inform that the finance department of the Company conducted a preliminary estimate in accordance with the Chinese Accounting Standards for Business Enterprises. It is expected that, for the twelve months ended December 31, 2023 (the “ Reporting Period ”), (i) the net profit attributable to the shareholders of the Company would be in the range from RMB4,200 million to RMB6,200 million, representing a decrease of approximately 69.76% to 79.52% as compared with that of approximately RMB20,503.5679 million for the corresponding period of last year; (ii) the net profit after deducting the non-recurring profit or loss would be in the range from RMB2,300 million to RMB3,400 million representing a decrease of approximately 82.96% to 88.47% as compared with that of approximately RMB19,952.3415 million for the corresponding period of last year; and (iii) the basic earnings per share would be in the range from RMB2.09 per share to RMB3.08 per share (the corresponding period of last year: approximately RMB10.18 per share).

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Based on the information currently available, the unaudited annual results of the Group under the International Accounting Standards for the Reporting Period are expected to decrease significantly as compared to the corresponding period last year, primarily because during the Reporting Period, (1) due to the cyclical impact of the lithium industry, the growth rate of terminal demand slowed down, resulting in a significant decrease of the price of lithium salt products; (2) the price of lithium mines, being the raw material of lithium salt and downstream products, represented a smaller extent of decline than that of lithium salt and downstream products, resulting in a decrease of gross profit margin of the Company; and (3) the provisions for impairment on relevant assets by the Company in accordance with accounting standards caused significant decline on the Company’s result as compared to the corresponding period of last year.

The Company has made preliminary communication with the auditor of the Company (the “ Auditor ”) on related matters of the performance estimate, and there is no significant disagreement between the Company and the Auditor over the performance estimate of the Reporting Period. The relevant financial data of this announcement is based on the preliminary estimate made by the finance department of the Company under the Chinese Accounting Standards for Business Enterprises and have not been audited by the Auditor.

As the Group is still in the process of finalizing its consolidated financial information of the Reporting Period, the information contained in this announcement is based on the preliminary assessment made by the Board with reference to information that is currently available and the preliminary unaudited consolidated management accounts of the Group which have not yet been reviewed by the audit committee of the Board and the Auditor and may be subject to change. Such information may also be subject to adjustment after further review and finalization of the consolidated financial information of the Reporting Period.

The audited annual results of the Group for the Reporting Period are expected to be published before the end of March 2024.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

By order of the Board GANFENG LITHIUM GROUP CO., LTD. LI Liangbin Chairman

Jiangxi, PRC January 30, 2024

As at the date of this announcement, the Board comprises Mr. LI Liangbin, Mr. WANG Xiaoshen, Ms. DENG Zhaonan and Mr. SHEN Haibo as executive directors of the Company; Mr. YU Jianguo and Ms. YANG Juan as non-executive directors of the Company; and Mr. WANG Jinben, Ms. WONG Sze Wing, Ms. XU Yixin and Mr. XU Guanghua as independent non-executive directors of the Company.

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