Zhixin Finance and Economics APP learned that Morgan Stanley released a research report stating that it maintains a "shareholding" rating for Tianqi Lithium Corporation (09696) with a target price of 24.3 Hong Kong dollars. The company issued a profit warning, estimating a loss of 5.45 billion yuan to 5.85 billion yuan in the first nine months, indicating a narrowing loss of 0.32 billion to 0.64 billion yuan in the third quarter, roughly in line with expectations, while the second quarter incurred a loss of 1.3 billion yuan.

The company's management pointed out that the main reason for the loss is the high stock of spodumene at a high price, but stated that the impact is decreasing. The bank believes that although the speed is slow, the impact of high-cost inventory is decreasing. At the same time, the prices of lithium and spodumene are falling, coupled with the high production costs of the Kwinana plant and slow capacity expansion, which remain challenges for the future.