TIANCHI LITHIUM INDUSTRY (SHARE CODE: 9696) PUBLISHED ITS FIRST QUARTER REPORT FOR 2024, SHOWING THAT THE COMPANY'S OPERATING INCOME DECREASED 77.42% COMPARED TO THE SAME PERIOD LAST YEAR, AND NET PROFIT FROM PROFIT AND LOSS REACHED APPROXIMATELY RMB39.97 BILLION, EXCLUDING NON-RECURRING LOSSES, A DECREASE OF 180.99%. Net cash flow generated by the Company's operating activities decreased 36.30% year-over-year. Basic earnings per share and diluted earnings per share were -$2.38, down 17.46 percentage points on weighted average net asset yield. During the reporting period, the company's total assets and shareholders' equity belonging to the listed company's shareholders decreased by 4.48% and 7.17%, respectively. In addition, the company's unaudited financial statements showed that the average sales price of its major lithium products declined significantly...Show More

TIANCHI LITHIUM INDUSTRY (SHARE CODE: 9696) PUBLISHED ITS FIRST QUARTER REPORT FOR 2024, SHOWING THAT THE COMPANY'S OPERATING INCOME DECREASED 77.42% COMPARED TO THE SAME PERIOD LAST YEAR, AND NET PROFIT FROM PROFIT AND LOSS REACHED APPROXIMATELY RMB39.97 BILLION, EXCLUDING NON-RECURRING LOSSES, A DECREASE OF 180.99%. Net cash flow generated by the Company's operating activities decreased 36.30% year-over-year. Basic earnings per share and diluted earnings per share were -$2.38, down 17.46 percentage points on weighted average net asset yield. During the reporting period, the company's total assets and shareholders' equity belonging to the listed company's shareholders decreased by 4.48% and 7.17%, respectively. In addition, the company's unaudited financial statements showed that the average sales price of its major lithium products declined significantly from the same period last year and was affected by the tax dispute settlement of its affiliate SQM. In the company's shareholder structure, Chengdu Tianqi Industrial (Group) Co., Ltd. is the largest shareholder with a shareholding ratio of 25.37%. TIANQI LITHIUM ALSO ANNOUNCED THE PROGRESS OF THE APPLICATION FOR REGISTRATION OF DEBT FINANCING INSTRUMENTS AND THE LAUNCH OF THE COMMODITY FUTURES SURETY BUSINESS. The company's lithium product projects in Australia and Suining are progressing well and have begun selling overseas. The company's equity firm SQM has signed a memorandum of understanding with Chile's National Copper Corporation concerning a partnership with the Atacama Salt Lake lithium business, but the specific details of the transaction are still in the negotiation phase.