Ganfeng Lithium expects to turn from loss to profit on a YoY basis in H1.

Tianqi Lithium announced on July 14 that it expects its net profit attributable to shareholders for H1 2026 to be 2.85 billion yuan to 4.25 billion yuan, up 3276.35%-4934.91% YoY, compared with a profit of 84.41 million yuan in the same period last year. The company stated that the main reason for the change in performance during the reporting period was that, driven by multiple favorable factors such as the development of the new energy industry and downstream demand growth, the average selling prices of the company's main lithium products in the reporting period increased significantly compared with the same period last year. As of the date of this performance forecast announcement, the company's significant associate, Sociedad Química y Minera de Chile S.A. ("SQM"), has not yet announced its Q2 2026 results. The company fully considered the reliable information available and, following its customary approach, used Bloomberg's forecast of SQM's Q2 2026 earnings per share and other information as the basis for calculating the company's investment income from SQM for the period. Based on the said forecast data, SQM's H1 2026 results are expected to increase significantly YoY, and therefore the investment income recognized by the company from this associate in the reporting period increased significantly compared with the same period last year. Parallel drilling efforts at the Mpama South site, totaling 3,654 meters, also delivered excellent results. This campaign specifically targeted depth extensions of the defined resource, with three out of the five completed holes successfully intercepting visible cassiterite. The standout discovery came from hole BGH206D2_T5, which revealed significant visible tin mineralization alongside intense chlorite and sulphide alteration between depths of 426.41 meters and 445.70 meters down-hole, marking it as the most critical new intersection of the current exploration program. Alphamin is advancing several key future initiatives to map and extend its resources. A comprehensive Versatile Time Domain Electromagnetic (VTEM) airborne survey covering the full license area was completed in mid-June, with data interpretation expected in the third quarter to help identify massive sulphides and isolate advanced drill targets. Additionally, a massive soil geochemical campaign is currently underway, planning to collect 13,000 samples over the next six months to test adjacent geological settings. Ultimately, these extensive exploration efforts will culminate in an updated comprehensive Resources and Reserves estimate, which remains on track for release in the fourth quarter of 2026.