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Lithium Product Prices Plunge in Q1, Jintai Motor’s Net Profit Dips by 92.39%

In Q1 2023, lithium product prices have significantly dropped compared to the same period last year, leading to a sharp decline in net profit for companies such as Jintai Motor. According to recent financial reports from lithium-ion industry chain businesses, lithium mining enterprises that previously enjoyed high profits due to surging lithium carbonate prices now face shrinking profits.

Jintai Motor's Q1 financial statement reveals a total revenue of CNY 700 million ($105 million), down 48.32% year-on-year. The net profit attributable to shareholders of the listed company reached CNY 50.65 million ($7.6 million), a. . .

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