"20cm" limit-up, top-tier events make history, this company becomes a big winner! Lithium carbonate spot prices rise for five consecutive days, these companies' performances are improving.

On March 30, the latest spot quote for battery-grade lithium carbonate was 164,500 yuan/ton, with gains recorded for five straight days.

Hongchang Technology Locks Up the Daily Limit

On March 30, Hongchang Technology opened at the “20cm” daily limit. As of the close, there were still 36,800 lots of buy orders waiting to seal the limit, with the amount reaching 130 million yuan.

In the news, Xinhua News Agency reported that in the WorldSBK Portuguese round, in the WorldSSP class of the World Superbike Championship (WSBK) concluded on March 29, the Chinese motorcycle manufacturer “Zhangxue Motorcycle” won the two-race finals at that event in succession.

The team has not been established for long; this time it was only its second event, yet it achieved double titles and also created a historic breakthrough for Chinese motorcycle manufacturers in WSBK events. The biggest feature of the WSBK event is that the participating vehicles are based on mass-production motorcycles with limited modifications. Therefore, it is known as a “car show on the track,” and is one of the key stages for motorcycle manufacturers to showcase the technical strength of their mass-production vehicles.

According to Tianyancha, in early March Chongqing Zhangxue Motorcycle Industrial Co., Ltd. completed a Series A investment, adding Hangzhou Zhejiangchuang Baijian Entrepreneurship Investment Partnership (Limited Partnership) and Jinhua Zhejiangchuang Jinyi Zhikong Entrepreneurship Investment Partnership (Limited Partnership), both under Zhejiangchuang Venture, as shareholders. Among them, the Jinhua Zhejiangchuang Jinyi Zhikong Entrepreneurship Investment Partnership (Limited Partnership) has an investment contribution ratio of 29.8211% by Hongchang Technology.

Recently, Hongchang Technology disclosed a revised announcement of its 2025 performance forecast. The attributable net profit, previously adjusted upward from 20.9863 million yuan to 26.2329 million yuan, has been revised to 30 million yuan to 35 million yuan, a decrease of 33% to 43% compared with the same period last year.

Lithium Carbonate Spot Prices Rise for 5 Straight Days

Recently, affected by factors such as disruptions on the supply side, a surge in demand, and a cut to export tax rebates, lithium carbonate prices have moved up again. Wind data shows that on March 30, the latest quote for battery-grade lithium carbonate was 164,500 yuan/ton. It has risen for five consecutive days, up 12.34% in total compared with March 23. Since the start of the year, lithium carbonate prices have remained in a high-level range-trading pattern. The latest price is up 38.78% in total compared with the end of 2025. For futures, on March 30 the main lithium carbonate contract rose 4.53%; since last week, the cumulative gain has reached 16.32%.

Recently, news emerged that regulations banning the export of lithium concentrate from Zimbabwe are escalating. According to a research report from Huaxin Futures, in 2025, the total lithium carbonate imported by China from Zimbabwe accounted for about 16% of the amount. If production stoppage continues, it may further raise the price center of lithium carbonate.

From the demand side, energy storage and new energy vehicles jointly support the upward demand for lithium carbonate. In the energy storage segment, according to statistics from ICC Xinlu Information, global shipments of energy storage batteries in 2025 were 640GWh, up 82.9% year over year. In China, domestic battery manufacturers shipped 621.5GWh, up 82.8% year over year. Growth in new energy vehicle production drives higher loading volumes of power batteries. According to data from the China Automotive Power Battery Industry Innovation Alliance, in 2025, the cumulative loading volume of domestic power batteries reached 769.7GWh, with a cumulative year-on-year increase of 40.4%.

A research report from Shenwan Hongyuan argues that new energy vehicles and the energy storage sector maintain high growth, providing strong support for lithium demand. New energy vehicles are currently the largest application area downstream of lithium. In recent years, the industry’s boom has remained high. In January to December 2025, China’s cumulative new energy vehicle production was about 16.59 million units, up 29% year over year. In addition, since October 2025, global demand in the energy storage sector has grown beyond expectations. Downstream companies’ orders have been relatively full, further supporting lithium carbonate demand.

Lithium Mining Stocks See Collective High Year-Over-Year Profit Growth in the Fourth Quarter

Benefiting from downstream demand surges such as energy storage and new energy vehicles, the performance of the lithium carbonate industrial chain has clearly rebounded since 2025. Wind data shows that the latest price of battery-grade lithium carbonate is up more than 170% from the low point in June 2025.

According to statistics by Securities Times · Data Bao, there are 23 listed lithium mining concept stocks in the A-shares market. So far, 8 have released their 2025 annual reports. Among them, Chengmining and Tianqi Lithium have turned profitable; Zangge Mining, Keda Manufacturing, Rongjie Co., Ltd., and Western Mining have achieved year-on-year growth in attributable net profit.

Zangge Mining’s annual report shows that the company achieved attributable net profit of 3.852 billion yuan, up 49.32% year over year. In investor research discussions, the company said that in a volatile environment, its lithium segment has maintained stable production and quality advantages. Its cost advantage remains significant among global peers. Combined with the rebound in lithium carbonate prices in the fourth quarter, this has provided support for growth in the company’s profits.

By quarter, for the lithium mining stocks that have already released annual reports, the year-on-year growth in fourth-quarter performance is clearly significant. Rongjie Co., Ltd., Western Mining, Guocheng Mining, and Zangge Mining all saw year-on-year increases in attributable net profit of more than 50% in the fourth quarter; Rongjie Co., Ltd. and Western Mining recorded increases of over 200%.

Rongjie Co., Ltd.’s annual report shows that the company achieved attributable net profit of 279 million yuan, up 29.52% year over year. Of that, attributable net profit in the fourth quarter was 135 million yuan, up 315.26% year over year. The company’s stock price has continued to surge recently. Since the annual report was released, it has gained a cumulative 53.9%, with daily limit-ups for four consecutive trading days.

In its annual report, Rongjie Co., Ltd. stated that the main reasons for the company’s profit growth are a substantial increase in production and sales volumes of lithium concentrate products, and a substantial increase in net profit of Chengdu Rongjie Lithium Industry, its associated company, leading to year-on-year increases in the company’s operating revenue and profits. Overall, the changes in the company’s performance are in line with the development trend of the new energy lithium battery industry.

Statement: All information provided by Data Bao does not constitute investment advice. The stock market involves risks; investors should be cautious and consider risk.

Proofread by: Xu Xin