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    002466   CNE100000T32

TIANQI LITHIUM CORPORATION

(002466)
  Report
End-of-day quote Shenzhen Stock Exchange  -  2023-02-06
91.74 CNY   +0.16%
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Tianqi Lithium Corporation Provides Earnings Guidance for the the Nine Months Ended September 30, 2022

10/14/2022 | 09:56am EST

Tianqi Lithium Corporation provided earnings guidance for the the nine months ended September 30, 2022. For the period, the company expects the net profit attributable to the shareholders of the Company would range from RMB 15,200 million to RMB 16,900 million representing an increase of approximately 2,768.96% to 3,089.83% as compared with that of approximately RMB 529,809,500 for the corresponding period of last year; (ii) the net profit after deducting the non-recurring profit or loss would range from RMB 14,200 million to RMB 15,800 million representing an increase of approximately 11,747.89% to 13,060.33% as compared with the net loss after deducting the non-recurring profit or loss of approximately RMB 121,910,500 for the corresponding period of last year; and (iii) the basic earnings per share would range from RMB 9.97 per share to RMB 11.08 per share (the corresponding period of last year: approximately RMB 0.36 per share). Based on the information currently available, the Board believes that the changes of the Company 's results for the nine months ended September 30, 2022 were mainly attributable to that: The Company is expected to record a significant increase in the operating income during the Reporting Period as compared to the corresponding period of last year, which was mainly attributable to the significant increase in the sales volume and average selling prices of the Company's major lithium products as compared with the corresponding period of last year, benefiting from a number of positive factors, such as the world-wide boom of new energy vehicles, accelerating capacity expansion by lithium-ion battery manufacturers and increase in the orders of downstream cathode materials.

During the Reporting Period, SES Holdings Pte. Ltd. ("SES"), an associate of the Company, has been listed on the New York Stock Exchange, resulting in a passive dilution to the Company's shareholding in SES and therefore the loss of the Company's material influence over SES. As a result, the Company's shareholding in SES is no longer recognized as a long-term equity investment but instead recognized as a financial asset at fair value through other comprehensive income with investment gains.

The aforementioned investment income derived from the passive disposal of a long-term equity investment due to the passive dilution to the Company's shareholding in SES is classified as non-recurring profit or loss. Up to the date of this announcement, Sociedad Química y Minera de Chile S.A. ("SQM"), an important associate of the Company, has not released its third quarterly report. After a thorough consideration of all the reliable information that can be used, the Company, as previous, adopted the forecast by Bloomberg on the earnings per share of SQM for the third quarter in 2022 and other information, in the calculation of the estimated investment income from SQM generated by the Company during the corresponding period.

Based on the above forecast and the interim results of SQM, both the third quarterly results and the released interim results of SQM in 2022 have witnessed significant increase, therefore the investment income generated by the Company from the investment in SQM in the Reporting Period also increased significantly.


ę S&P Capital IQ 2022
All news about TIANQI LITHIUM CORPORATION
01/30IGO 1st Half Net Profit, Dividend Jump to Record High
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01/29Ganfeng Lithium Shares Rise After Solid 2022 Profit Outlook
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01/26China’s Reopening Spurs Dealmaking Revival, Advisers Say
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01/26China's open borders and push to stoke economy may revive dealmaking, advisers say
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01/18Tianqi Lithium Forecasts Up to 1,131% Hike in FY22 Profit
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Analyst Recommendations on TIANQI LITHIUM CORPORATION
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Financials
Sales 2022 38 017 M 5 598 M 5 598 M
Net income 2022 23 310 M 3 432 M 3 432 M
Net cash 2022 10 175 M 1 498 M 1 498 M
P/E ratio 2022 6,26x
Yield 2022 0,05%
Capitalization 145 B 21 396 M 21 396 M
EV / Sales 2022 3,55x
EV / Sales 2023 2,48x
Nbr of Employees 1 773
Free-Float 60,4%
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Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 91,74 CNY
Average target price 125,74 CNY
Spread / Average Target 37,1%
EPS Revisions
Managers and Directors
Jun Zou Chief Financial Officer & Director
Wei Ping Jiang Chairman
Jin Yan Chairman-Supervisory Board
Ying Pan Independent Non-Executive Director
Chuan Xiang Independent Non-Executive Director
Sector and Competitors