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2466

Tianqi Lithium SZSE:002466 Stock Report

Last Price

CN¥100.40

Market Cap

CN¥158.3b

7D

-10.1%

1Y

-1.2%

Updated

02 Oct, 2022

Data

Company Financials +
2466 fundamental analysis
Snowflake Score
Valuation5/6
Future Growth1/6
Past Performance4/6
Financial Health3/6
Dividends0/6

2466 Stock Overview

Tianqi Lithium Corporation, a new energy materials company, engages in the lithium resource investment, lithium concentrate extraction, and production of advanced lithium specialty compounds in Australia, Chile, and China.

Tianqi Lithium Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Tianqi Lithium
Historical stock prices
Current Share PriceCN¥100.40
52 Week HighCN¥148.57
52 Week LowCN¥58.05
Beta0.93
1 Month Change-4.58%
3 Month Change-29.15%
1 Year Change-1.16%
3 Year Change269.12%
5 Year Change42.84%
Change since IPO589.08%

Recent News & Updates

Shareholder Returns

2466CN ChemicalsCN Market
7D-10.1%-4.4%-2.3%
1Y-1.2%-22.5%-19.2%

Return vs Industry: 002466 exceeded the CN Chemicals industry which returned -22.5% over the past year.

Return vs Market: 002466 exceeded the CN Market which returned -19.2% over the past year.

Price Volatility

Is 2466's price volatile compared to industry and market?
2466 volatility
2466 Average Weekly Movement7.6%
Chemicals Industry Average Movement6.1%
Market Average Movement5.8%
10% most volatile stocks in CN Market9.2%
10% least volatile stocks in CN Market3.8%

Stable Share Price: 002466 is more volatile than 75% of CN stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: 002466's weekly volatility (8%) has been stable over the past year, but is still higher than 75% of CN stocks.

About the Company

FoundedEmployeesCEOWebsite
19951,773Juncheng Xiahttps://www.tianqilithium.com

Tianqi Lithium Corporation, a new energy materials company, engages in the lithium resource investment, lithium concentrate extraction, and production of advanced lithium specialty compounds in Australia, Chile, and China. Its products include battery and industrial grade lithium carbonate and lithium hydroxide monohydrate, lithium chloride anhydrous, and lithium metal. The company was founded in 1995 and is headquartered in Chengdu, the People’s Republic of China.

Tianqi Lithium Fundamentals Summary

How do Tianqi Lithium's earnings and revenue compare to its market cap?
2466 fundamental statistics
Market CapCN¥158.31b
Earnings (TTM)CN¥12.32b
Revenue (TTM)CN¥19.61b

13.4x

P/E Ratio

8.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
2466 income statement (TTM)
RevenueCN¥19.61b
Cost of RevenueCN¥4.03b
Gross ProfitCN¥15.58b
Other ExpensesCN¥3.26b
EarningsCN¥12.32b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)7.52
Gross Margin79.47%
Net Profit Margin62.83%
Debt/Equity Ratio61.7%

How did 2466 perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is 2466 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2466?

Other financial metrics that can be useful for relative valuation.

2466 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue9.1x
Enterprise Value/EBITDA11.6x
PEG Ratio-1.2x

Price to Earnings Ratio vs Peers

How does 2466's PE Ratio compare to its peers?

2466 PE Ratio vs Peers
The above table shows the PE ratio for 2466 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average17.4x
603260 Hoshine Silicon Industry
12.6x9.5%CN¥117.7b
600309 Wanhua Chemical Group
13.4x16.2%CN¥289.2b
603659 Shanghai Putailai New Energy TechnologyLtd
32.8x29.1%CN¥77.6b
600884 Ningbo ShanshanLtd
11x14.1%CN¥46.7b
002466 Tianqi Lithium
13.4x-10.7%CN¥158.3b

Price-To-Earnings vs Peers: 002466 is good value based on its Price-To-Earnings Ratio (13.4x) compared to the peer average (17.4x).


Price to Earnings Ratio vs Industry

How does 2466's PE Ratio compare vs other companies in the CN Chemicals Industry?

Price-To-Earnings vs Industry: 002466 is good value based on its Price-To-Earnings Ratio (13.4x) compared to the CN Chemicals industry average (25.1x)


Price to Earnings Ratio vs Fair Ratio

What is 2466's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2466 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.4x
Fair PE Ratio12.1x

Price-To-Earnings vs Fair Ratio: 002466 is expensive based on its Price-To-Earnings Ratio (13.4x) compared to the estimated Fair Price-To-Earnings Ratio (12.1x).


Share Price vs Fair Value

What is the Fair Price of 2466 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 002466 (CN¥100.4) is trading below our estimate of fair value (CN¥136.36)

Significantly Below Fair Value: 002466 is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is Tianqi Lithium forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-10.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 002466's earnings are forecast to decline over the next 3 years (-10.7% per year).

Earnings vs Market: 002466's earnings are forecast to decline over the next 3 years (-10.7% per year).

High Growth Earnings: 002466's earnings are forecast to decline over the next 3 years.

Revenue vs Market: 002466's revenue is expected to decline over the next 3 years (-1.7% per year).

High Growth Revenue: 002466's revenue is forecast to decline over the next 3 years (-1.7% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 002466's Return on Equity is forecast to be high in 3 years time (30.5%)


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Past Performance

How has Tianqi Lithium performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


2.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 002466 has high quality earnings.

Growing Profit Margin: 002466 became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: 002466's earnings have grown by 2.3% per year over the past 5 years.

Accelerating Growth: 002466 has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: 002466 has become profitable in the last year, making it difficult to compare its past year earnings growth to the Chemicals industry (16.1%).


Return on Equity

High ROE: 002466's Return on Equity (49.6%) is considered outstanding.


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Financial Health

How is Tianqi Lithium's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 002466's short term assets (CN¥13.9B) do not cover its short term liabilities (CN¥14.3B).

Long Term Liabilities: 002466's short term assets (CN¥13.9B) exceed its long term liabilities (CN¥9.9B).


Debt to Equity History and Analysis

Debt Level: 002466's net debt to equity ratio (46.5%) is considered high.

Reducing Debt: 002466's debt to equity ratio has increased from 53.7% to 61.7% over the past 5 years.

Debt Coverage: 002466's debt is well covered by operating cash flow (47.1%).

Interest Coverage: 002466 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Tianqi Lithium current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


0.52%

Forecast Dividend Yield

Dividend Yield vs Market

Tianqi Lithium Dividend Yield vs Market
How does Tianqi Lithium dividend yield compare to the market?
SegmentDividend Yield
Company (Tianqi Lithium)0%
Market Bottom 25% (CN)0.5%
Market Top 25% (CN)2.2%
Industry Average (Chemicals)1.8%
Analyst forecast in 3 Years (Tianqi Lithium)0.5%

Notable Dividend: Unable to evaluate 002466's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 002466's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 002466's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 002466's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: 002466 is not paying a notable dividend for the CN market.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as 002466 has not reported any payouts.


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Management

How experienced are the management team and are they aligned to shareholders interests?

10.1yrs

Average management tenure


CEO

Juncheng Xia (50 yo)

1.67yrs

Tenure

CN¥1,959,700

Compensation

Mr. Juncheng Xia serves as President at Tianqi Lithium Corporation since January 15, 2021 and serves as its Executive Director since February 01, 2021. Prior to joining Tianqi Lithium, he had management ex...


Leadership Team

Experienced Management: 002466's management team is seasoned and experienced (10.1 years average tenure).


Board Members

Experienced Board: 002466's board of directors are considered experienced (5.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of 2466?
Owner TypeNumber of SharesOwnership Percentage
Public Companies14,360,2000.9%
General Public324,342,52819.8%
Institutions326,872,83419.9%
Private Companies416,316,43225.4%
Individual Insiders557,549,22334.0%

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 11%.


Top Shareholders

Top 25 shareholders own 63.67% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
29.58%
Silong Li
484,996,309CN¥48.7b0%no data
25.39%
Chengdu Tianqi Industrial (Group) Co., Ltd.
416,316,432CN¥41.8b0%no data
4.19%
Jing Zhang
68,679,877CN¥6.9b0%no data
0.88%
LG Chem, Ltd.
14,360,200CN¥1.4b0%no data
0.46%
JPMorgan Chase & Co, Brokerage and Securities Investments
7,514,200CN¥754.4m0%0.07%
0.43%
JPMorgan Chase & Co, Private Banking and Investment Banking Investments
7,050,887CN¥707.9m0.01%0.04%
0.41%
China Asset Management Co., Ltd.
6,760,463CN¥678.8m0%0.21%
0.33%
EARNEST Partners, LLC
5,447,300CN¥546.9m0%0.51%
0.3%
Lombarda China Fund Management Co., Ltd.
5,000,046CN¥502.0m-13.81%0.25%
0.3%
E Fund Management Co., Ltd.
5,000,005CN¥502.0m0%0.12%
0.23%
Morgan Stanley, Investment Banking and Brokerage Investments
3,818,446CN¥383.4m0%0.01%
0.23%
Mirae Asset Global Investments Co., Ltd
3,710,716CN¥372.6m309126.33%0.08%
0.19%
BlackRock, Inc.
3,108,000CN¥312.0m11993.39%no data
0.17%
Hua An Fund Management Co., Ltd.
2,868,865CN¥288.0m0%0.22%
0.089%
The Vanguard Group, Inc.
1,454,040CN¥146.0m0%no data
0.084%
Harvest Fund Management Co., Ltd.
1,375,400CN¥138.1m0%0.07%
0.066%
Wei Wu
1,081,575CN¥108.6m0%no data
0.062%
Wei Ge
1,009,200CN¥101.3m0%no data
0.044%
Huashang Fund Management Company Ltd.
729,092CN¥73.2m0%0.3%
0.04%
Great Wall Fund Management Co. Ltd.
662,327CN¥66.5m0%0.26%
0.039%
Jun Zou
643,637CN¥64.6m0%no data
0.038%
DBX Advisors LLC
627,587CN¥63.0m-35.64%0.08%
0.038%
Galaxy Asset Management Company Limited
617,510CN¥62.0m0%0.18%
0.034%
Shanghai Orient Securities Asset Management Co., Ltd.
564,200CN¥56.6m0%0.06%
0.03%
Rongtong Fund Management Co., Ltd.
496,768CN¥49.9m0%0.19%

Company Information

Tianqi Lithium Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Tianqi Lithium Corporation
  • Ticker: 2466
  • Exchange: SZSE
  • Founded: 1995
  • Industry: Specialty Chemicals
  • Sector: Materials
  • Implied Market Cap: CN¥158.311b
  • Shares outstanding: 1.64b
  • Website: https://www.tianqilithium.com

Number of Employees


Location

  • Tianqi Lithium Corporation
  • Building 1
  • No.10, East Gaopeng Road
  • Chengdu
  • Sichuan Province
  • China


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
2466SZSE (Shenzhen Stock Exchange)YesDomestic SharesCNCNYAug 2010
2466XSEC (Shenzhen Stock Exchange - Shenzhen-Hong Kong Stock Connect)YesDomestic SharesCNCNYAug 2010
9696SEHK (The Stock Exchange of Hong Kong Ltd.)Foreign Shares-Foreign ListedHKHKDJul 2022
2220DB (Deutsche Boerse AG)Foreign Shares-Foreign ListedDEEURJul 2022
9696SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)Foreign Shares-Foreign ListedHKHKDJul 2022

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/02 00:00
End of Day Share Price2022/09/30 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.