5 Most Profitable Lithium Stocks Now

4. Ganfeng Lithium Group Co., Ltd. (002460.SZ)

TTM Net Income: $2.55 billion (¥17.55 billion)

Ganfeng Lithium Group Co., Ltd. (002460.SZ) is the largest producer of lithium compounds in China and the third largest in the world.

Ganfeng Lithium Group Co., Ltd. (002460.SZ) intends to reach an annual production capacity of 300,000 tons by 2025 and has applied for 365 national patents. The company has a global headcount of over 10,000 employees. The increase in lithium prices during 2022 has resulted in mining companies posting record profits. Lithium prices have jumped as much as 15 times from their lows in 2020, driven by the global push toward the adoption of EVs. In January 2023, Ganfeng Lithium Group Co., Ltd. (002460.SZ) announced that it intends to invest nearly $2.2 billion (¥15 billion) in two new battery factories to expand operations.