お知らせ • Jan 24
Tianqi Lithium Corporation Provides Preliminary Unaudited Earnings Guidance for the Year Ended 31 December 2024
Tianqi Lithium Corporation provided preliminary unaudited earnings guidance for the year ended 31 December 2024. For the year, the company expects the net loss attributable to the shareholders of the Company to range from RMB 7,100 million to RMB 8,200 million, as compared with that of RMB 7,297.32 million for the corresponding period of last year; the net loss after deducting the non-recurring profit or loss is estimated to range from RMB 7,100 million to RMB 8,200 million, as compared with that of RMB 7,176.53 million for the corresponding period of last year; and the basic loss per share is estimated to range from RMB 4.33 to RMB 5.00, as compared with the basic earnings per share of RMB 4.45 for the corresponding period of last year. Based on the information currently available, the Board believes that the changes of the Company 's results for the year of 2024 were mainly attributable to that: Although the production and sales volume of the Company ' s lithium compounds and derivatives for the year 2024 and for the fourth quarter of 2024 achieved year-on-year and quarter-on-quarter growth respectively, the overall market price of lithium products during the Reporting Period experienced a significant downward trend due to market volatility of the lithium products, which led to a substantial decline in the Company's lithium product sales prices and gross profit compared to the same period of last year. Additionally, due to time cycle mismatch between the pricing mechanisms for chemical-grade lithium concentrates of the Company's holding subsidiary, Talison Lithium Pty Ltd. ("Talison"), and the sales and pricing mechanisms for the Company ' s lithium chemical products, the Company ' s operational performance experienced a temporary loss during the Reporting Period. In 2024, as the market price of chemical-grade lithium concentrates progressively decreased, the price of lithium concentrates newly procured from Talison decreased accordingly. As the newly procured low-cost lithium concentrates gradually entered inventory and the existing stock of lithium concentrates was progressively consumed, the costs of chemical-grade lithium concentrates used in production across the Company's various production bases began to steadily align with the latest procurement prices. Consequently, the impact of the temporary mismatch in the lithium concentrates pricing mechanism diminished over time. As of the date of this announcement, Sociedad Química y Minera de Chile S.A. ("SQM"), an important associate of the Company, has not yet released its fourth quarterly results report for 2024. After thoroughly considering all reliable information available, the Company, adhering to its consistent approach, utilized a financial calculation model based on Bloomberg ' s forecast of SQM's earnings per share for the fourth quarter of 2024 and other relevant information to estimate the investment income from SQM generated by the Company for the corresponding period. In addition, in its first quarterly results report for 2024, SQM disclosed that in April 2024, the Santiago Court of Appeal in Chile ruled on the tax claims for the 2017 and 2018 tax years, revoking the conclusion of the ruling of the Tax and Customs Court on the case on 7 November 2022, resulting in the recognition of approximately USD 1.1 billion in income tax expenses and a corresponding reduction in net profit of SQM being approximately USD 1.1 billion. Based on the aforementioned forecast data by Bloomberg, the annual results of SQM in 2024 is expected to witness a substantial year-on-year decline. Consequently, the investment income from SQM recognized by the Company for the Reporting Period will also decrease significantly compared with 2023. The Company, in accordance with the Chinese Accounting Standards for Business Enterprises No. 8 Asset Impairment and other relevant regulations, conducted an analysis and evaluation of the Battery-grade Lithium Hydroxide Monohydrate Project with an Annual Capacity of 24,000 Tons and the Train II Battery-grade Lithium Hydroxide Monohydrate Project with an Annual Capacity of 24,000 Tons (the Overseas Lithium Hydroxide Projects), according to which, an impairment test has been carried out. Following the principle of prudence, it is expected that the asset impairment losses recognized by the Company for the Reporting Period will increase as compared to 2023; Since 2024, the US dollar has continued to reach highs. During the Reporting Period, exchange rate fluctuations of the Australian dollar and the Renminbi against the US dollar have resulted in an increase in exchange losses compared to 2023.