tianqi lithium corporation (09696) rose more than 3%, as of the time of publication, increased by 3.36%, at 27.65 Hong Kong dollars, with a turnover of 66.5653 million Hong Kong dollars.
According to the Wise Finance APP, tianqi lithium corporation (09696) rose more than 3%, as of the time of publication, increased by 3.36%, at 27.65 Hong Kong dollars, with a turnover of 66.5653 million Hong Kong dollars.
Morgan Stanley released a research report stating that the company issued a profit warning, estimating a loss of 5.45 billion yuan to 5.85 billion yuan in the first nine months, meaning a narrower loss of 0.32 billion to 0.64 billion yuan in the third quarter, roughly meeting expectations, while a loss of 1.3 billion yuan in the second quarter.
The report states that the company's management pointed out that the main reason for the loss is the high stock of spodumene at a high price, but indicates that the impact is decreasing. The bank believes that, although slow, the impact of high-cost inventory is diminishing. 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.