Tianqi Lithium Jumps After Chinese Miner Predicts Up to 43-Fold Surge in First-Quarter Profit
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Tianqi Lithium's shares surged after the company announced a potential net profit increase of up to 43 times in Q1, driven by rising investment income and lithium product prices. The stock rose 5.5% to CNY70.47 in Shenzhen and 2.3% to HKD59.60 in Hong Kong. Expected net profit is between CNY1.7 billion and CNY2 billion. The price of battery-grade lithium carbonate has also increased significantly this year, peaking at over CNY170,000 per ton. Tianqi Lithium focuses on various stages of the lithium supply chain, established in 1995.
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