Gelonghui, May 8 | Citibank released a report stating that according to Tianqi Lithium's performance in the first quarter of this year, it is estimated that the company will achieve profits in the second half of this year, mainly due to the possibility that high-cost spodumene stocks may be consumed from the first quarter to the second quarter of this year; the one-time impact of SQM, which holds about 22% of its shares, due to tax claims, has limited impact on cash flow throughout the year. However, the agreement between SQM and Codelco is uncertain. The bank lowered Tianqi Lithium's net profit forecast for this year from the original forecast of 3.3 billion yuan to a loss of 1.8 billion yuan to take into account SQM's one-time investment income loss and the impact of high-cost spodumene inventories in the first half of this year. After the forecast model was updated, the company's earnings per share forecast for 2025 to 2026 was lowered by 1% to 2%. Furthermore, the bank believes that the spot price of lithium carbonate may have bottomed out in February. Investors are advised to gradually increase their holdings of Tianqi Lithium when it is low. The target price will be raised from HK$40 to HK$42.