Tianqi Lithium Corporation Ltd. (stock code: 002466) is a high-tech enterprise focusing on lithium mining resources development, lithium compounds and their derivatives production and sales. The company occupies an important position in the global lithium industry and has rich lithium mining resources and advanced production technology. Tianqi Lithium Corporation's main products include lithium carbonate, lithium hydroxide and other lithium compounds, which are widely used in new energy batteries, medicine, chemical and other fields.
As for asset-liability data, as of March 31, 2024, Tianqi Lithium Corporation's total assets were 69.948 billion yuan, a decrease of 4.48% compared to the end of the previous year of 73.228 billion yuan. This change mainly reflects the company's reduction in asset size in this reporting period. The total liabilities decreased from 18.992 billion yuan to 17.123 billion yuan, a decrease of 9.84%, which indicates that the company has made certain progress in repaying some debts. The asset-liability ratio also decreased from 25.94% to 24.48%, indicating an improvement in the company's financial structure. However, total equity attributable to shareholders of the listed company decreased by 7.18%, from 51.52 billion yuan to 47.818 billion yuan, which may reflect the impact of profit distribution or other changes in equity.
Regarding profit data, in this reporting period, Tianqi Lithium Corporation's revenue was 2.585 billion yuan, a significant decrease of 77.42% from the same period last year of 11.449 billion yuan. This significant decline is mainly due to the significant decrease in sales prices of lithium compounds and their derivatives and lithium ore. The net income attributable to shareholders of the listed company was -3.897 billion yuan, compared to 4.875 billion yuan in the same period last year, a decrease of 179.93%. This loss is mainly attributable to two factors: first, the significant decrease in the average selling price of lithium products led to a significant decrease in gross profit; second, the significant decrease in the performance of the associate company SQM and the impact of tax dispute rulings led to a significant decrease in investment income recognized by the company. After deducting non-recurring gains and losses, net profit also showed a similar trend, a decrease of 180.99%.
As for cash flow data, Tianqi Lithium Corporation's net cash flow from operating activities in this reporting period was 3.144 billion yuan, a decrease of 36.30% from the same period last year of 4.936 billion yuan. This decrease is mainly due to the significant decrease in operating income, which led to a decrease in corresponding receipts and gross profit. Nevertheless, the company still maintained a certain balance in cash inflows and outflows from operating activities, demonstrating its ability in cash flow management.
Overall, Tianqi Lithium Corporation faced significant operational pressure in the first quarter of 2024, mainly reflected in the impact of the significant decrease in sales prices of lithium products and the decline in the performance of the associate company on the company's profit. However, the company still maintained a certain level of prudence in asset-liability management and cash flow management. In the future, the company needs to actively respond to market changes, optimize product structure and cost control to enhance profitability and market competitiveness.