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On April 21, TIANQI LITHIUM disclosed its first-quarter 2026 performance forecast, projecting net profit attributable to shareholders of the listed company to be between 1.7 billion and 2 billion yuan, a significant increase of 1530% to 1818% compared to the 104 million yuan recorded in the same period last year, marking a leap in the scale of profitability.
The quality of earnings is equally impressive. Net profit after deducting non-recurring gains and losses is expected to reach between 1.6 billion and 1.96 billion yuan, a year-on-year surge of 3502% to 4312%, far exceeding the growth in net profit and indicating a more thorough recovery in core operations. Based on these figures, basic earnings per share are projected to range from 1.01 to 1.19 yuan, compared to 0.06 yuan in the same period last year.
The core logic behind this strong rebound lies in the dual resonance of two main trends: first, the continuous expansion of downstream demand in new energy sectors has driven a notable year-on-year recovery in the average sales price of lithium products, fueling a substantial increase in operating revenue; second, SQM, the Chilean lithium mining giant in which the company holds shares, is expected to post a significant year-on-year performance increase in the first quarter, thereby substantially increasing the investment income from associated companies recognized by TIANQI LITHIUM.
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<h2>Lithium Price Recovery: Operating Revenue Rebound</h2>
TIANQI LITHIUM explicitly stated in the reasons for performance changes that the selling prices of major lithium products in the first quarter &#34;all increased significantly&#34; compared to the same period last year.
Looking back, from 2024 to early 2025, lithium salt prices experienced a deep decline, with lithium carbonate hitting historic lows, severely compressing industry profit margins and leaving the company's net profit base at a relatively low level during the same period. Entering the first quarter of 2026, benefiting from positive demand-side factors such as the continuous rise in new energy vehicle penetration rates and the accelerated expansion of energy storage installation capacity, lithium prices staged a phased recovery. A pattern of simultaneous volume and price increases was established for the company, leading to a significant warming up of operating revenue.
<h2>SQM Expectation Improvement: Associated Company Makes Key Contribution</h2>
TIANQI LITHIUM holds equity in Chile's SQM, one of the world's key lithium resource suppliers, whose operational performance significantly impacts the company's investment income.
Since SQM is listed simultaneously on the Santiago Stock Exchange and the New York Stock Exchange, its quarterly financial reports are disclosed later than TIANQI LITHIUM's performance forecast window. In accordance with accounting standards, the company used Bloomberg's forecast data for SQM's first-quarter earnings per share, combined with financial modeling, to estimate investment income based on its shareholding ratio. Forecasts indicate that SQM's first-quarter 2026 performance is expected to grow significantly year-on-year, and the investment income recognized by TIANQI LITHIUM accordingly achieved a significant jump compared to the previous year, becoming a crucial support for this quarter's profit improvement.

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TIANQI LITHIUM's first-quarter 2026 performance forecast indicates a net profit of 1.7 billion to 2 billion yuan, representing a year-on-year increase of 1530% to 1818%; the adjusted net profit saw an even higher surge of 3502% to 4312%. The explosive performance was primarily driven by the recovery in lithium prices boosting operating revenue, as well as improved expectations for holdings in SQM enhancing investment income

- Tianqi Lithium announced a Q1 2026 profit forecast of 1.7 billion to 2 billion yuan, marking a substantial increase of 1,530% to 1,818% compared to 104 million yuan last year.  
- The strong performance is attributed to rising lithium product prices and significant growth in joint venture earnings from SQM, which is expected to see notable revenue gains.  
- As a result, the estimated earnings per share will rise to 1.01 to 1.19 yuan, up from 0.06 yuan the previous year, reflecting a strong recovery in the company's core business.

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TIANQI LITHIUM Q1 Performance 'Explosive'! Net Profit Forecast to Surge 15-18 Times, Lithium Price Recovery and Investment Income Dual Resonance | Financial Report Insights