According to the Zhicheng Finance app, Tianqi Lithium (09696) fell by more than 4%, hitting a new low of HKD 22.35 and continued to fall, down 4.27% to HKD 22.4, with a turnover of HKD 45.2895 million at the time of publication.

Recently, the Chilean Financial Market Commission (CMF) rejected Tianqi Lithium's application to hold a shareholders' meeting. On May 31st, SQM signed an agreement with Chile's state-owned copper company Codelco to establish a joint venture company. From 2025, 70% of the joint venture company's operating margin will belong to the Chilean government. This means that most of the profit from SQM's lithium business will be taken by the Chilean government.

It is reported that as the second largest shareholder of SQM, Tianqi Lithium currently holds 22.16% of its equity, and the nationalization of SQM will greatly reduce the income that Tianqi Lithium obtains from it. In addition, due to high-priced inventory and tax issues affecting SQM, the company's earnings hit bottom in the first quarter. The financial report shows that Tianqi Lithium achieved revenue of approximately CNY 2.585 billion in the first quarter, a year-on-year decrease of 77.42%; the net loss attributable to shareholders of listed companies was approximately CNY 3.897 billion, compared to a net profit of approximately CNY 4.875 billion in the same period last year, a year-on-year change from profit to loss.