Gelonghui, April 24 | Daiwa released a report saying that Tianqi Lithium expects a net loss of 3.7 billion to 4.3 billion yuan in the first quarter and a net loss of 3.6 billion to 4.4 billion yuan from continuing operations. It recorded tax and accounting losses due to investing in the Chilean lithium mining company SQM, which may reach 1.75 billion yuan. After deducting the one-time impact, it is estimated that the adjusted net loss will still exceed 2 billion yuan, far below expectations. According to the bank, the relevant accounting losses relate to tax arrangements from 2017 to 2018. It is estimated that at the special shareholders' meeting to be held on Wednesday (24th) local time, SQM will disclose more details and reaffirm its “outperforming the market” rating.