Lithium miner Tianqi Lithium Corp. (9696.HK; 002466.SZ) announced on Tuesday that it expects to report a profit of 5.1 billion yuan ($764 million) to 6 billion yuan for the first nine months of 2026, equal to 28.3 times to 33.4 times the 179.9 million yuan it recorded a year earlier.
Excluding non-recurring items, the company said it expects to report a nine-month net profit of 5.03 billion yuan to 5.93 billion yuan, equal to 70.6 to 83.2 times the 71.28 million yuan it reported a year earlier.
Tianqi said the average selling prices of its major lithium products rose significantly year-on-year during the period, driven by growth in the new energy industry and stronger downstream demand, boosting its revenue. Profits from its associated Sociedad Química y Minera de Chile (SQM) also rose sharply in the first three quarters, lifting Tianqi’s investment income.
The company’s shares opened higher but fell to HK$23.56 by the midday break on Wednesday in Hong Kong, down 0.59%. They have lost about 60% over the past six months.
By Lee Shih Ta
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