Gelonghui, May 22丨Tianqi Lithium (002466.SZ) said on the investor interactive platform that by the end of 2023, the lithium concentrate inventory within the scope of the company's consolidated statements was about 409,000 tons. This inventory includes the lithium concentrate inventory in stock and transit at the company's various lithium chemical product production sites and the lithium concentrate inventory of the company's holding subsidiary Wenfield Thalison. According to the relevant provisions of Wenfield's “Shareholder Agreement”, Thalison's chemical-grade lithium concentrate is currently only supplied to its two shareholders — TLEA and Yabao. The two shareholders can each obtain procurement rights equivalent to about 50% of Thalison's sellable quantity according to their actual needs. The lithium concentrate purchased by TLEA from Thalison is first used to meet TLK requirements, and the remaining amount will be used to meet the domestic factory and processing needs of Tianqi Lithium. IGO does not have the right to purchase lithium concentrate. Since January 2024, Wenfield has updated the pricing mechanism for Thalison Greenbush chemical-grade lithium concentrate to refer to the average prices of the four mainstream pricing agencies (Fastmarkets, Benchmark Mineral Intelligence, S&P Platts, and Asia Metal Network) on a monthly basis and enjoy certain shareholder discounts. The adjustment of the pricing mechanism made the purchase price of lithium concentrate closer to the market. Although it still lags slightly behind the overall pricing frequency of lithium salt, it has improved the company's ability to adapt to market fluctuations, enhanced market competitiveness, and further optimized the company's business strategy.