Summary by Futu AI
TIANCHI LITHIUM CO., LTD. ISSUED A PROFIT WARNING TO SHAREHOLDERS AND DIVING INVESTORS, EXPECTING A SIGNIFICANT DECLINE IN NET PROFIT FOR THE COMPANY'S SHAREHOLDERS IN 2023. According to preliminary estimates, the net profit range ranged from RMB6,620 million to RMB8,950 million, a year-on-year decrease of 62.90% to 72.56%. Net profit after non-routine losses is also expected to decline, ranging from RMB6,500 million to RMB8,820 million, down approximately 61.75% to 71.81% year-on-year. Basic earnings per share are expected to be RMB 4.04 to RMB5.46. The Company noted that the decline in earnings was mainly due to lower sales prices for lithium chemical products, increased sales of lithium ore, a decrease in the profit forecast of its important subsidiary SQM, and passive dilution of SES shares. In addition, the Company will conduct tests on assets that have signs of depreciation, which is expected to increase asset impairment losses. The company insists that this data has not been audited and the final financial data will be disclosed in the company's annual report.