{Economic Information Daily, 21st} Tianqi Lithium (09696) is currently up 2.5%, trading at HK$24.3, with approximately 40,000 shares traded, involving HK$10.7 million.
Tianqi Lithium announced, based on preliminary calculations under Chinese enterprise accounting standards, expects its net profit for the first three quarters ended September 30 to range between RMB 5.1 billion and RMB 6 billion, representing an increase of approximately 27 to 32.3 times year-on-year. After deducting non-recurring gains and losses, the net profit is expected to range between RMB 5.03 billion and RMB 5.93 billion, an increase of approximately 69.6 to 82.2 times year-on-year, with earnings per share ranging from RMB 3 to RMB 3.53.
The group stated that the profit increase is primarily due to the expected significant rise in operating revenue, driven by multiple favorable factors including the development of the new energy industry and growing downstream demand. The average selling prices of its major lithium products have increased notably, and its significant associate company SQM is expected to report a substantial increase in its first three quarters' earnings, resulting in a significant increase in investment income from this associate.
Currently, the Hang Seng Index stands at 24,139, up 271 points or 1.1%, with turnover on the main board nearing HK$3.1 billion. The Hang Seng China Enterprises Index is at 8,139, up 108 points or 1.4%. The Hang Seng Tech Index is at 4,110, up 64 points or 1.6%. (vs)
Tianqi Lithium announced, based on preliminary calculations under Chinese enterprise accounting standards, expects its net profit for the first three quarters ended September 30 to range between RMB 5.1 billion and RMB 6 billion, representing an increase of approximately 27 to 32.3 times year-on-year. After deducting non-recurring gains and losses, the net profit is expected to range between RMB 5.03 billion and RMB 5.93 billion, an increase of approximately 69.6 to 82.2 times year-on-year, with earnings per share ranging from RMB 3 to RMB 3.53.
The group stated that the profit increase is primarily due to the expected significant rise in operating revenue, driven by multiple favorable factors including the development of the new energy industry and growing downstream demand. The average selling prices of its major lithium products have increased notably, and its significant associate company SQM is expected to report a substantial increase in its first three quarters' earnings, resulting in a significant increase in investment income from this associate.
Currently, the Hang Seng Index stands at 24,139, up 271 points or 1.1%, with turnover on the main board nearing HK$3.1 billion. The Hang Seng China Enterprises Index is at 8,139, up 108 points or 1.4%. The Hang Seng Tech Index is at 4,110, up 64 points or 1.6%. (vs)
