Gelonghui, May 21 | Changjiang Securities Research Report pointed out that Tianqi Lithium (002466.SZ) experienced high inventory costs due to a decline in the average price of lithium salt and a relative lag in lithium concentrate price adjustments last year, and the gross profit of the 2024Q1 lithium sector declined: affected by declining market prices, the average sales price of the company's lithium compounds fell 40.53% month-on-month; affected by SQM tax accounting processing, Q1 investment income fell sharply month-on-month. Along with the gradual digestion of the company's lithium concentrate inventory, the impact of the company's high-price inventory will decrease quarterly. At the same time, the M-1 price adjustment mechanism has caused the company's 2024Q1 lithium concentrate purchase price to drop rapidly, and the company's profit inflection point can be expected.