Tianqi Lithium Corporation issued a profit warning, expecting a loss for the nine months ending September 30, 2024, with a net loss attributable to the company's shareholders ranging from RMB 5,450 million to 5,850 million, a significant decrease compared to the net profit of RMB 8,098.51 million in the same period last year. After deducting non-recurring gains and losses, the expected net loss is RMB 5,470 million to 5,870 million, with an expected basic loss per share of RMB 3.32 to 3.57. Meanwhile, the estimated net loss for the third quarter of 2024 is RMB 320 million to 640 million, with a net loss after deducting non-recurring gains and losses of RMB 330 million to 650 million, and an expected basic loss per share of RMB 0.20 to 0.39. The company stated that...Show More

Tianqi Lithium Corporation issued a profit warning, expecting a loss for the nine months ending September 30, 2024, with a net loss attributable to the company's shareholders ranging from RMB 5,450 million to 5,850 million, a significant decrease compared to the net profit of RMB 8,098.51 million in the same period last year. After deducting non-recurring gains and losses, the expected net loss is RMB 5,470 million to 5,870 million, with an expected basic loss per share of RMB 3.32 to 3.57. Meanwhile, the estimated net loss for the third quarter of 2024 is RMB 320 million to 640 million, with a net loss after deducting non-recurring gains and losses of RMB 330 million to 650 million, and an expected basic loss per share of RMB 0.20 to 0.39. The company stated that the main reasons are the significant decline in lithium product market prices and the mismatch in timing between the chemical-grade lithium concentrate pricing mechanism of its controlling subsidiary Talison Lithium Limited and the company's lithium chemical product sales pricing mechanism. In addition, the joint venture company SQM has not yet published its financial report for the third quarter of 2024, and the company expects a significant decrease in investment income from SQM compared to the same period last year. The company emphasized that the above data is unaudited, and the final data will be detailed in the third quarter report of 2024.