SHANGHAI, Aug. 23 (SMM) – Tianqi Lithium Industries posted 1722.5% year-on-year growth in net profit in the first half of the year, based on its mid-year earning report.
The company achieved 747 million yuan ($ 112.6 million) in net profit in H1 with business revenues up 125.71% YoY to 1.75 billion yuan.
The surge in the net profit was due largely to growth in the company’s lithium product output and sales. The increase in production and sales of lithium chemical products also drove the company’s net profit up.
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