Tianqi Lithium Forecasts Sharp Rise in H1 Profit
Tianqi Lithium (HKG:9696, SHE:002466) expects attributable net profit of 2.85 billion yuan to 4.25 billion yuan for the six months ended June 30, compared with 84.4 million yuan a year earlier, according to a Tuesday filing with the Hong Kong bourse. Basic earnings per share are expected to increase to between 1.68 yuan and 2.51 yuan from 0.05 yuan a year earlier. The company attributed the expected growth to higher average selling prices for its lithium products, driven by stronger downstream demand from the new energy sector, and to a significant increase in investment income from its stake in SQM. Hong Kong-listed shares of the lithium company fell nearly 2% in morning trade Wednesday.
Tianqi Lithium (HKG:9696, SHE:002466) expects attributable net profit of 2.85 billion yuan to 4.25 billion yuan for the six months ended June 30, compared with 84.4 million yuan a year earlier, according to a Tuesday filing with the Hong Kong bourse.
Basic earnings per share are expected to increase to between 1.68 yuan and 2.51 yuan from 0.05 yuan a year earlier.
The company attributed the expected growth to higher average selling prices for its lithium products, driven by stronger downstream demand from the new energy sector, and to a significant increase in investment income from its stake in SQM.
Hong Kong-listed shares of the lithium company fell nearly 2% in morning trade Wednesday.