"Profit Alert" TIANQI LITHIUM forecasts first-quarter net profit to increase at least 15 times to 1.7 billion RMB

TIANQI LITHIUM (09696.HK) issued a profit warning, expecting net profit attributable to shareholders for the three months ending in March to be between RMB 1.7 billion and RMB 2 billion, an increase of 1,530%-1,818% compared to the same period last year. This is mainly due to favorable factors such as the development of the new energy industry and the growth in downstream demand, leading to a significant increase in the average selling price of the company's main lithium products, as well as a substantial rise in operating revenue during the period; and the important associate SQM is expected to see significant growth in its quarterly performance, with the company confirming a corresponding substantial increase in investment income from SQM