Brief News: Product prices soar, TIANQI LITHIUM's first-quarter profit increases by more than 15 times

Lithium resource mining and sales company TIANQI LITHIUM Co., Ltd. expects its net profit attributable to shareholders in the first quarter of this year to be between 1.7 billion and 2 billion yuan, a year-on-year increase of 15.3 times to 18 times. After deducting non-recurring gains and losses, the net profit is also expected to reach between 1.6 billion and 1.96 billion yuan, a year-on-year increase of 35 times to 43 times. The company stated that the significant increase in profits is mainly due to the development of the new energy industry and the growth in downstream demand, with the average selling price of major lithium products rising significantly compared to the same period last year. TIANQI LITHIUM's stock price opened up 8.3%, currently rising over 180% from its low in the past year