Ganfeng Lithium Declines After Insider Trading Probe in China

Ganfeng Lithium Co.’s shares slumped after the battery-material giant said Chinese regulators had filed a case against the company involving suspected insider trading.

The key global lithium producer fell as much as 8.7% in Hong Kong after announcing the case, which was filed by the China Securities Regulatory Commission earlier this year. The allegations relate to insider trading on the secondary market of a separate A-share listed company. The case was filed on January 24, according to Ganfeng’s exchange filing on Sunday.

Ganfeng’s shares in Shenzhen pared some of the earlier losses to less than 3%. The Jiangxi-based company ...