On the evening of October 14, Tianqi Lithium Industry (002466) issued a performance forecast that the company expects to turn losses into profits in the first three quarters and the third quarter of this year compared with the same period last year. The net profit in the first three quarters was 420 million yuan to 620 million yuan, up 138.07% and 156.20% over the same period last year. The net profit in the third quarter was 340 million yuan to 510 million yuan, up 183.60% and 225.40% over the same period last year.
Tianqi Lithium Industry said that thanks to the improvement in the global prosperity of new energy vehicles, lithium-ion battery manufacturers accelerated capacity expansion and orders for downstream cathode materials picked up. During the reporting period, sales and average prices of the company's major lithium compound products increased compared with the same period last year. At the same time, the company's subsidiary capital increase and stock expansion introduced strategic investor IGOLimited was completed, confirming the debt restructuring gains related to the syndicated M & A loan rollover, which is a non-recurring profit and loss. In addition, the investment income recognized by the company in the associated company SQM during the reporting period increased significantly compared with the same period last year.
Tianqi Lithium Industry introduced at the shareholders' meeting a few days ago that the debugging work of the first phase of the company's Quinana, Australia, "24000 tons of battery-grade lithium hydroxide monohydrate project" is progressing smoothly according to the established plan. at present, the load debugging of public works, rotary kiln and acidizing kiln in the fire zone, pressing section in the wet zone, purification and impurity removal, evaporation crystallization and drying have been completed, and the whole process has been completed. At present, the joint working group is still committed to achieving the stable operation of the whole process and the optimization of process control parameters, and strives to achieve the phased goal of achieving the state of marketable products and the factory entering formal operation and trial production by the end of 2021. In the process of trial production, the company will carry out targeted rectification work in time according to the problems that arise, so that the project will gradually achieve a sustained and stable production state, with a view to achieving the ultimate goal of achieving the design capacity by the end of 2022.
At the same time, since 2019, TLK has successively signed long orders with some overseas manufacturers of high-quality batteries and cathode materials, such as Ecopro, SKI, LG Chemical and Northvolt. These long orders are important customer protection after the commissioning of the first phase of Quinana Lithium hydroxide plant in the future. The company has been committed to providing high-quality lithium products to all customers from multiple production bases for a long time. Shehong base currently has a capacity of 5000 tons / year of lithium hydroxide. The process for producing lithium hydroxide is similar to that of the first phase of TLK lithium hydroxide project, which can meet the basic supply quantity of some of TLK's long-term customers. At present, the company has provided some of its customers with lithium products produced by domestic factories.
Battery Network noted that in the Ningde era, Zijin Mining and other industry giants and a number of listed companies have swept the resource end, competing for lithium ore, Tianqi lithium industry as a lithium industry giant is holding two major mineral resources to enjoy its cost dividend.
Among them, Tailisen Lithium concentrate, a subsidiary of Tianqi Lithium Industry, has a production capacity of 1.34 million tons / year and a planned production capacity of 1.94 million tons / year. According to the agreement, Terlison's chemical grade lithium concentrate is not sold to customers other than TLEA and Yabo.
In addition, Sheng he Lithium, a wholly-owned subsidiary of Tianqi Lithium Industry, owns the mining rights of the Zola spodumene mine in Yajiang County, Sichuan Province, which belongs to the western section of the largest methyl carbopyroxene mining area in Asia, with an ore volume of about 19.714 million tons, equivalent to about 255700 tons of lithium oxide resources, with an average grade of 1.3%, and lithium resources equivalent to about 630000 tons of lithium carbonate equivalent. The company has always regarded the Ganzi Yajiang Zola spodumene mine as a medium-and long-term and necessary resource reserve, which is currently in a state of slow construction; the company will comprehensively consider the follow-up development plan in the light of its own development strategy, capital liquidity, project feasibility and other factors.
