By Bingyan WangShares of Ganfeng Lithium were higher in the first trading session in China after the Lunar New Year break after the company said it expects 2022 net profits to quadruple from the previous year. The Shenzhen-listed lithium maker's stock jumped as much as 6.0% in early trade Monday, widening its the year-to-date gains to 15%. Ganfeng Lithium's 2021 net profit was CNY5.22 billion. Shares of others Chinese lithium producers, which are major suppliers of electric vehicle battery makers, were also higher following news of robust new energy vehicles sales during the Lunar New Year holiday. Shares of Ganfeng Lithium was last 2.3% higher.

Source: Wall Street Journal January 30, 2023 03:24 UTC