Tianqi Lithium Industry: a pre-loss of 1.9-280 million in the first quarter

Tianqi Lithium Industry announced that the net profit of shareholders belonging to listed companies in the first quarter of 2021 is expected to be 1.9-280 million yuan, down from a loss of 500 million yuan in the same period last year.

As for the reasons for the changes in performance during the reporting period, Tianqi Lithium Industry said that in the first quarter of 2020, due to the large decline in the exchange rate of the Australian dollar against the US dollar, the amount of exchange losses on financial expenses in the same period in 2020 was relatively large; while the exchange rate of the Australian dollar against the US dollar was relatively stable during the reporting period, so the amount of exchange losses in financial fees decreased significantly compared with the same period last year.

On the other hand, affected by the stock price of Sociedad Q í mica y Minera de Chile S.A. (hereinafter referred to as "SQM"), the fluctuation of Libor interest rate and other factors, the fair value change income generated by the company's 2.1% B-share leading option business and hedging business during the reporting period decreased significantly by about 240 million yuan compared with the same period last year. The fair value changes caused by the above-mentioned lead option business and hedging business are non-recurring gains and losses.

From the company's annual results announced by KuaiBao, the company's net profit loss of 1.8 billion yuan, sustained losses.

Public data show that: Tianqi Lithium Industry was founded in 1995, after more than 20 years of development, such as today Qi Lithium Industry has been far ahead in the new energy materials enterprises with lithium as the core in China and even around the world. The company's business covers key stages of the lithium industry chain, including the development of hard rock lithium ore resources, the processing and sales of lithium concentrates and the production and sales of lithium chemical products.

As one of the world's largest manufacturers of lithium chemicals for electric car batteries, Tianqi Lithium Industry reported good results in the first quarter, while Tianqi Lithium Industry has a promising future at a time when the lithium industry is becoming more and more hot.

On April 14, battery-grade lithium carbonate was quoted at 88000,000,000 yuan / ton, with an average price of 90000 yuan / ton, up 126 percent from its low on August 21, 2020, according to SMM.

"Click to see more spot prices of SMM metals.

As of April 14, Tianqi Lithium opened 1% higher in early trading, and then its share price fluctuated higher, closing at 37.29 yuan near the end of the day with a 10% increase.