证券代码：002466 证券简称：天齐锂业 公告编号：2022-076 天齐锂业股份有限公司 2022 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重大遗 漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、完 整。 3.第三季度报告是否经过审计 □是 否 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | --- | --- | |-------|-----------------------------------------------------|-------------------|-------------------------|-------------------|------------------------------- ...

[Major Financial Data](index=2&type=section&id=1.%20Major%20Financial%20Data) The company demonstrated robust financial performance in Q3 2022 and year-to-date, marked by significant revenue and net profit growth, alongside substantial asset and equity expansion [Major Accounting Data and Financial Indicators](index=2&type=section&id=(1)%20Major%20Accounting%20Data%20and%20Financial%20Indicators) The company achieved multi-fold year-on-year growth in revenue and net profit in Q3 2022 and year-to-date, driven by increased lithium product sales and prices, alongside significant asset and equity expansion Key Financial Indicators for Q3 2022 and Year-to-Date | Indicator | Current Period (Q3 2022) | YoY Growth | Year-to-Date (YTD Q3 2022) | YoY Growth | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 10,350,381,810.50 | 580.19% | 24,645,952,756.05 | 536.40% | | Net Profit Attributable to Shareholders of the Listed Company (RMB) | 5,653,820,646.20 | 1,173.35% | 15,981,408,779.72 | 2,916.44% | | Net Cash Flow from Operating Activities (RMB) | – | – | 11,735,361,724.43 | 750.38% | | Basic Earnings Per Share (RMB/share) | 3.49 | 1,063.33% | 10.48 | 2,811.11% | | Weighted Average Return on Net Assets | 15.74% | Increased by 12.29 percentage points | 65.19% | Increased by 58.55 percentage points | Key Balance Sheet Indicators at Period End | Indicator | End of Current Period (2022/09/30) | End of Prior Year (2021/12/31) | Change | | :--- | :--- | :--- | :--- | | Total Assets (RMB) | 62,965,638,055.71 | 44,165,325,659.12 | 42.57% | | Owners' Equity Attributable to Shareholders of the Listed Company (RMB) | 41,036,653,795.89 | 12,761,280,130.72 | 221.57% | [Non-recurring Gains and Losses Items and Amounts](index=3&type=section&id=(2)%20Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Year-to-date, non-recurring gains and losses totaled approximately **1.06 billion RMB**, primarily from investment income due to passive SES equity dilution and SQM B share disposal, offset by an **888.55 million RMB** loss from collar option fair value changes Major Non-recurring Gains and Losses Items Year-to-Date (Unit: RMB) | Item | Amount | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | 1,938,966,593.07 | | Gains/Losses from Changes in Fair Value of Financial Assets/Liabilities Held for Trading, etc | -888,551,041.79 | | Government Grants | 21,642,242.89 | | **Total** | **1,061,159,045.61** | - Gains from disposal of non-current assets primarily resulted from: 1) Income recognized from the reclassification of long-term equity investment to other equity instruments due to passive dilution of SES equity, leading to loss of significant influence; 2) Investment income from the disposal of certain SQM Class B shares due to collar option settlement[5](index=5&type=chunk) [Analysis of Changes in Major Financial Indicators](index=4&type=section&id=(3)%20Analysis%20of%20Changes%20in%20Major%20Accounting%20Data%20and%20Financial%20Indicators) Significant growth in financial indicators is primarily attributed to strong core business performance and specific accounting events, with revenue and net profit driven by increased lithium product sales and prices, substantial investment income from SQM, and asset/equity growth from operational expansion, exchange rate changes, and the H-share IPO - Revenue growth is primarily due to increases in both sales price and volume of the company's main lithium products compared to the prior year[7](index=7&type=chunk)[8](index=8&type=chunk) - Significant growth in net profit attributable to the parent company is attributed to: 1) Simultaneous increases in lithium product volume and price; 2) Substantial growth in investment income recognized from associate company SQM; 3) Investment income recognized from passive dilution of SES equity[7](index=7&type=chunk)[8](index=8&type=chunk) - Total asset growth is primarily due to: 1) Increased monetary funds, accounts receivable, and inventories resulting from revenue growth; 2) Significant appreciation of the USD against RMB at period-end, increasing the company's overseas USD assets[8](index=8&type=chunk) - Significant growth in net assets attributable to shareholders of the listed company is primarily due to current period profits and increased share capital and capital reserves from the H-share IPO[8](index=8&type=chunk) [Shareholder Information](index=6&type=section&id=2.%20Shareholder%20Information) The company's shareholding structure is detailed, identifying key shareholders and the influence of the actual controller's family [Common Shareholding Information](index=6&type=section&id=(1)%20Total%20Number%20of%20Common%20Shareholders%20and%20Preferred%20Shareholders%20with%20Restored%20Voting%20Rights%20and%20Top%20Ten%20Shareholders'%20Shareholding) As of the reporting period end, the company had **268,399 A-share shareholders** and **50 H-share shareholders**, with Chengdu Tianqi Industry (Group) Co., Ltd. and HKSCC NOMINEES LIMITED as the top two shareholders, holding **25.37%** and **10.00%** respectively Top Ten Shareholders' Shareholding | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held | | :--- | :--- | :--- | :--- | | Chengdu Tianqi Industry (Group) Co., Ltd. | Domestic non-state-owned legal person | 25.37% | 416,316,432 | | HKSCC NOMINEES LIMITED | Overseas legal person | 10.00% | 164,108,990 | | Zhang Jing | Domestic natural person | 4.18% | 68,679,877 | | Hong Kong Securities Clearing Company Limited | Overseas legal person | 2.20% | 36,073,501 | | China Securities Finance Corporation Limited | Domestic non-state-owned legal person | 1.70% | 27,853,574 | - Shareholder Ms. Zhang Jing is the spouse of the company's actual controller Mr. Jiang Weiping, indicating a family business characteristic[11](index=11&type=chunk) [Other Significant Matters](index=8&type=section&id=3.%20Other%20Significant%20Matters) Key corporate actions include a successful H-share IPO, establishment of a strategic joint venture, completion of a share repurchase for employee incentives, and a cornerstone investment in a leading battery enterprise [H-share Issuance and Listing](index=8&type=section&id=1.%20Regarding%20the%20Company's%20Issuance%20and%20Listing%20of%20H-shares%20on%20the%20Main%20Board%20of%20The%20Stock%20Exchange%20of%20Hong%20Kong%20Limited) The company completed its H-share issuance and listing on the Hong Kong Stock Exchange on July 13, 2022, issuing approximately **164 million H-shares** at **HKD 82/share**, accounting for **10%** of total share capital, with proceeds used to repay debt and supplement liquidity, significantly optimizing the capital structure - The company listed on the Hong Kong Stock Exchange on July 13, 2022, issuing **164,122,200 H-shares** at an issue price of **HKD 82 per share**[13](index=13&type=chunk) - Proceeds from the H-share issuance have been used to repay the entire SQM acquisition syndicated loan, approximately **1.48 billion RMB** in domestic loans, and to supplement liquidity and fund project construction[14](index=14&type=chunk) Share Capital Structure After H-share Issuance | Share Class | Quantity (Shares) | Proportion | | :--- | :--- | :--- | | Domestically listed RMB ordinary shares (A-shares) | 1,477,099,383 | 90% | | Overseas listed foreign shares (H-shares) | 164,122,200 | 10% | | Total Shares | 1,641,221,583 | 100% | [Establishment of Joint Venture](index=9&type=section&id=2.%20Wholly-owned%20Subsidiary's%20External%20Investment%20and%20Establishment%20of%20Joint%20Venture) The company's wholly-owned subsidiary, Tianqi Lithium, established a joint venture, Tianqi Weilan Solid Lithium New Materials (Shenzhen) Co., Ltd., with Beijing Weilan New Energy, to jointly engage in R&D, production, and sales of pre-lithiation manufacturing equipment, with Tianqi Lithium holding **51%** equity to enhance core competitiveness in the solid-state battery industry chain - The company's wholly-owned subsidiary established a joint venture with Beijing Weilan New Energy to jointly engage in the R&D, production, and sales of pre-lithiation manufacturing equipment[15](index=15&type=chunk) - Tianqi Lithium holds a **51%** controlling stake in the joint venture, which is beneficial for promoting the company's industrial operations and integration, enhancing core competitiveness[15](index=15&type=chunk) [Share Repurchase for Employee Stock Ownership Plan](index=9&type=section&id=3.%20Repurchase%20of%20Company%20Shares%20through%20Centralized%20Bidding%20for%20Employee%20Stock%20Ownership%20Plan) The company implemented a share repurchase plan, using up to **200 million RMB** of its own funds to repurchase A-shares for the 2022 employee stock ownership plan, with **1.78 million shares** repurchased, representing **0.11%** of total share capital, totaling approximately **200 million RMB**, completing the repurchase as of the report disclosure date - The company plans to use its own funds to repurchase A-shares through centralized bidding for an employee stock ownership plan, with a total repurchase amount of no less than **136 million RMB** and no more than **200 million RMB**[17](index=17&type=chunk) - As of the report disclosure date, the share repurchase has been completed, with a total of **1.78 million shares** repurchased, accounting for **0.11%** of total share capital, at a total cost of approximately **200 million RMB**[17](index=17&type=chunk) [Participation as Cornerstone Investor in CALB Hong Kong IPO](index=11&type=section&id=4.%20Participation%20as%20Cornerstone%20Investor%20in%20CALB%20Hong%20Kong%20Initial%20Public%20Offering) The company's wholly-owned subsidiary invested approximately **100 million USD** as a cornerstone investor in CALB's Hong Kong IPO, subscribing for approximately **20.22 million shares**, representing **1.12%** of its post-issuance share capital, aiming to deepen strategic cooperation with leading downstream battery enterprises - The company's wholly-owned subsidiary plans to use no more than **100 million USD** of its own funds to participate as a cornerstone investor in subscribing for CALB's initial public offering shares on the Hong Kong Stock Exchange[19](index=19&type=chunk) - The company ultimately invested approximately **100 million USD**, subscribing for **20,217,200 shares**, representing **1.12%** of CALB's post-issuance share capital, with a lock-up period of **6 months**[19](index=19&type=chunk) [Quarterly Financial Statements](index=12&type=section&id=4.%20Quarterly%20Financial%20Statements) The consolidated balance sheet, income statement, and cash flow statement for the reporting period are presented, reflecting the company's financial position and performance [Consolidated Balance Sheet](index=12&type=section&id=1.%20Consolidated%20Balance%20Sheet) As of September 30, 2022, the company's total assets reached **62.97 billion RMB**, a **42.57%** increase from the beginning of the year; owners' equity attributable to shareholders of the listed company was **41.04 billion RMB**, a substantial **221.57%** increase, while total liabilities decreased from **26.01 billion RMB** to **16.08 billion RMB**, significantly optimizing the asset-liability structure Key Items from Consolidated Balance Sheet (Unit: RMB) | Item | September 30, 2022 | January 1, 2022 | Change Rate | | :--- | :--- | :--- | :--- | | Total Assets | 62,965,638,055.71 | 44,165,325,659.12 | 42.57% | | Total Liabilities | 16,075,642,483.90 | 26,013,642,162.34 | -38.20% | | Owners' Equity Attributable to Parent Company | 41,036,653,795.89 | 12,761,280,130.72 | 221.57% | [Consolidated Income Statement](index=16&type=section&id=2.%20Consolidated%20Income%20Statement%20from%20Year-to-Date%20to%20Reporting%20Period%20End) In the first three quarters of 2022, the company achieved total operating revenue of **24.65 billion RMB**, a **536.40%** year-on-year increase, and net profit attributable to parent company shareholders of **15.98 billion RMB**, a **2916.44%** year-on-year surge, driven by simultaneous increases in lithium product prices and sales, and investment income from associates Key Items from Consolidated Income Statement (Year-to-Date as of Reporting Period End, Unit: RMB) | Item | Current Period Amount (YTD Q3 2022) | Prior Period Amount (YTD Q3 2021) | Change Rate | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 24,645,952,756.05 | 3,872,718,580.34 | 536.40% | | Operating Profit | 25,171,869,148.88 | 1,132,992,420.24 | 2121.71% | | Net Profit Attributable to Parent Company Shareholders | 15,981,408,779.72 | 529,809,524.63 | 2916.44% | [Consolidated Cash Flow Statement](index=19&type=section&id=3.%20Consolidated%20Cash%20Flow%20Statement%20from%20Year-to-Date%20to%20Reporting%20Period%20End) In the first three quarters of 2022, net cash flow from operating activities was **11.74 billion RMB**, a **750.38%** year-on-year increase due to significantly higher sales revenue, while net cash flow from financing activities was **-7.36 billion RMB** primarily due to substantial debt repayment, with cash and cash equivalents increasing to **6.70 billion RMB** at period-end Key Items from Consolidated Cash Flow Statement (Year-to-Date as of Reporting Period End, Unit: RMB) | Item | Current Period Amount (YTD Q3 2022) | Prior Period Amount (YTD Q3 2021) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 11,735,361,724.43 | 1,380,020,383.32 | | Net Cash Flow from Investing Activities | 65,570,041.75 | -387,893,800.31 | | Net Cash Flow from Financing Activities | -7,357,305,948.84 | -750,292,021.58 | | Cash and Cash Equivalents at Period End | 6,701,010,842.19 | 1,212,119,881.63 | [Audit Report](index=21&type=section&id=5.%20Audit%20Report) The company's 2022 third-quarter report is unaudited - The company's third-quarter report is unaudited[43](index=43&type=chunk)

Financial Performance - The company's revenue for the reporting period reached RMB 14,167,992 thousand, a significant increase of 506.30% compared to the same period last year, which was RMB 2,336,806 thousand[9]. - Profit attributable to equity shareholders for the period was RMB 10,230,305 thousand, a remarkable turnaround from a loss of RMB 78,145 thousand in the previous year, representing a growth of 13,191.44%[9]. - The net cash generated from operating activities was RMB 7,066,631 thousand, up 681.22% from RMB 904,566 thousand in the same period last year[9]. - Basic and diluted earnings per share were both RMB 6.93, compared to a loss of RMB 0.05 per share in the previous year, marking an increase of 13,960.00%[9]. - Gross profit for the reporting period was RMB 11,920,512 thousand, up from RMB 1,190,953 thousand, representing an increase of RMB 10,729,559 thousand[92]. - The company's net profit attributable to equity shareholders for the reporting period reached RMB 10.23 billion, a significant increase of 13,960% year-on-year, driven by the growth in lithium product sales and higher average selling prices[68]. Production and Operations - Lithium carbonate production in China for the first half of 2022 was 168,000 tons, a year-on-year increase of 42.4%, while lithium hydroxide production was 110,000 tons, up 35%[17]. - The company’s subsidiary, Talison, was the largest lithium product producer globally in 2021, with a production of 127,100 tons LCE, accounting for 38% of global output[19]. - The company’s lithium concentrate production capacity has increased from 1.34 million tons per year to 1.62 million tons per year, ensuring stable supply of high-quality lithium spodumene[57]. - The total production of lithium concentrate from the Greenbushes mine during the reporting period was 608,244 tons, with mining activities totaling 1.97 million tons of ore[109]. - The company has ongoing exploration activities at the Greenbushes mine, completing 17 drill holes with a total depth of 8,525 meters during the reporting period[109]. Market and Demand - The lithium supply-demand imbalance is expected to persist in 2022 due to slow growth in new production capacity against surging demand from the electric vehicle market[21]. - From 2015 to 2021, global lithium demand increased over 100%, reaching 498,000 tons LCE, with a CAGR of 16.3%[22]. - The demand for lithium from rechargeable batteries grew at a CAGR of 26% from 2015 to 2021, with a 57% increase in 2021 compared to 2020[25]. - By 2032, lithium demand is expected to reach 2.2 million tons LCE, with a projected CAGR of 13.8%[33]. - The share of battery applications in lithium consumption was 73% in 2021, expected to rise to 92% by 2032[33]. Financial Position and Liabilities - Total assets at the end of the reporting period amounted to RMB 54,805,778 thousand, reflecting a growth of 19.66% from RMB 45,800,308 thousand at the end of the previous year[9]. - The company's equity attributable to shareholders increased to RMB 24,811,667 thousand, a rise of 72.82% from RMB 14,357,066 thousand at the end of the previous year[9]. - The company's asset-liability ratio decreased to approximately 28% as of July 2022, down from the previous year, achieving its leverage reduction target[68][70]. - Total liabilities decreased to RMB 24,176,130 million from RMB 26,007,356 million, with outstanding bank loans and borrowings reduced to RMB 17,844,124 million[100]. Strategic Initiatives - The company plans to accelerate domestic lithium resource development to ensure stable supply amid increasing demand for lithium batteries[18]. - The company has established strategic partnerships with major battery material manufacturers and multinational battery companies, enhancing its market position[53]. - The company aims to establish strategic partnerships with leading upstream and downstream enterprises to optimize its investment portfolio and enhance sustainable development[80]. - The company is advancing its international strategy, having listed its H-shares on the Hong Kong Stock Exchange, thus becoming a dual-listed company in A+H shares[77]. Corporate Governance and Social Responsibility - The report includes a comprehensive overview of corporate governance and social responsibility initiatives[3]. - The company has established a volunteer service team and published a book on corporate volunteer culture, emphasizing its commitment to social responsibility and sustainable development[118]. - The company has actively responded to the national rural revitalization strategy, promoting innovative concepts to support local agriculture[115]. - The company has maintained a modern corporate governance structure, complying with relevant regulations and ensuring shareholder interests are protected[112]. Research and Development - The company’s R&D team is focused on energy-saving innovations and the development of core new products, aiming for business diversification[54]. - By 2025, the company aims to have nearly 300 R&D personnel, with 30% holding doctoral or senior positions[82]. - The company is advancing the construction of a world-class R&D platform and plans to establish a cutting-edge technology incubation center[82]. Risks and Challenges - The company faces risks related to foreign exchange fluctuations, particularly with the US dollar and Australian dollar, which may impact profitability[88]. - The ongoing COVID-19 pandemic continues to create uncertainty and may adversely affect the company's operations and financial performance[90]. - Lithium prices are subject to significant volatility, which can adversely affect the company's business, financial condition, and operating performance[84]. Shareholder Structure - The total number of shares is 1,477,099,383, with 99.78% being unrestricted shares[119]. - The largest shareholder, Chengdu Tianqi Industrial Group Co., Ltd., holds 28.18% of the shares, equivalent to 416,316,432 shares[120]. - The shareholder structure shows that the top ten shareholders hold a significant portion of the company's equity, with the largest shareholder having a controlling interest[123].

Financial Performance - Tianqi Lithium Corporation reported a revenue of 1.2 billion RMB for the first half of 2022, representing a year-on-year increase of 150%[2]. - The company achieved a net profit of 300 million RMB in the first half of 2022, up 200% compared to the same period last year[2]. - The company's revenue for the first half of 2022 reached approximately RMB 14.30 billion, representing a 508.05% increase compared to the same period last year[13]. - Net profit attributable to shareholders was approximately RMB 10.33 billion, a staggering increase of 11,937.16% year-on-year[13]. - The net cash flow from operating activities was approximately RMB 7.06 billion, up 834.59% from the previous year[13]. - Basic and diluted earnings per share both stood at RMB 6.99, reflecting an increase of 11,550.00% compared to the same period last year[13]. - Management has provided a performance guidance of 2.5 billion RMB in revenue for the full year 2022, reflecting continued strong market conditions[2]. - The company's net profit attributable to shareholders reached 10.328 billion RMB, with a net cash flow from operating activities of 7.064 billion RMB during the reporting period[36]. - The gross profit margin for the chemical raw materials and chemical products manufacturing sector was 87.54%, reflecting an increase of 40.86% year-on-year[86]. - The company's operating revenue for the first half of 2022 reached CNY 14,295,570,945.55, a significant increase of 508.05% compared to the previous year[196]. Market Demand and Strategy - User data indicates a significant increase in demand for lithium products, with sales volume rising by 120% year-on-year[2]. - The company plans to expand its production capacity by 50% in the next two years to meet growing market demand[2]. - The company has outlined a strategic goal to enter new international markets, particularly in Europe and North America, by 2023[2]. - The lithium market is expected to see a demand growth rate of 17.8% annually from 2020 to 2030, driven by the increasing demand for electric vehicles[40]. - The company aims to achieve a 20% market share for new energy vehicles by 2025, as part of the national strategy to promote electric vehicles in urban public transport[55]. - The global demand for lithium is primarily driven by lithium-ion batteries, with the rechargeable battery sector accounting for over 50% of lithium demand since 2017, growing at a CAGR of 26.0% from 2015 to 2021[62]. Production and Capacity - The company is actively involved in the expansion of its lithium production capacity through projects like the Talison third-phase chemical-grade lithium concentrate expansion plan[13]. - In the first half of 2022, the company's lithium carbonate and lithium hydroxide production reached 168,000 tons and 110,000 tons, respectively, representing year-on-year growth of 42.4% and 35%[47]. - The company achieved a lithium concentrate production capacity of 12.71 million tons LCE in 2021, accounting for 38% of global production, making it the largest lithium producer globally[48]. - The company’s lithium hydroxide production project in Australia has an annual capacity of 48,000 tons, contributing to a total planned lithium chemical product capacity exceeding 110,000 tons per year[74]. - The production cost of lithium concentrate at the Greenbushes mine was $271 per ton in 2021, significantly lower than the industry average of over $386 per ton[76]. Investments and Research - Tianqi Lithium is investing 500 million RMB in new technology development for lithium extraction processes[2]. - The company has a strong R&D team focused on innovation in lithium products, with several national-level honors and platforms supporting its research efforts[33]. - The company has a total of 168 patents, including 85 domestic invention patents and 4 foreign invention patents, showcasing its continuous improvement in R&D capabilities[80]. - The company’s investment in solid-state battery enterprises aims to track downstream technology trends and commercialization processes[23]. Environmental and Social Responsibility - The company has reduced its waste gas emissions and greenhouse gas emissions by 6.6% and 21.8% respectively in 2021 compared to 2020, demonstrating significant progress in environmental protection[26]. - The company is committed to international standards and sustainable development, positioning itself as a key player in the global energy transition[23]. - The company donated RMB 1.5 million to support the construction of a youth entrepreneurship center in Xiuyun Village, contributing to rural revitalization efforts[135]. - In the first half of 2022, the company donated a total of RMB 4,176,035 to various social responsibility initiatives[137]. Risks and Challenges - The company faces risks related to fluctuating lithium prices and regulatory changes in key markets, which are being actively monitored[2]. - The company is facing potential demand reduction due to rising raw material prices impacting battery production costs, which could lead to decreased demand for lithium[42]. - The ongoing COVID-19 pandemic has introduced significant uncertainties and operational challenges, potentially impacting demand, supply chains, and overall financial performance[120]. - The company is exposed to foreign exchange risks, particularly with fluctuations in the USD and AUD, which could impact overseas business costs and revenues[118]. Corporate Governance and Structure - The company has appointed new executives, including a Vice Chairman and two Executive Vice Presidents, as of April 28, 2022[124]. - The company reported a 38.12% investor participation rate in the 2021 Annual General Meeting held on May 23, 2022[123]. - The company has implemented a strategy to gradually release restricted shares for executives, with specific release dates outlined for each executive[175]. - The company continues to monitor and manage its shareholding structure to ensure compliance with regulatory requirements and to enhance shareholder value[176].

Company Overview - Tianqi Lithium Corporation has been deeply engaged in the lithium industry for nearly 30 years, evolving from a small lithium salt factory to a world-class leader in lithium battery materials [3]. - The company aims to enhance its international management team and promote industrial integration and upgrading on a global scale [4]. - Tianqi Lithium Corporation does not plan to distribute cash dividends or issue bonus shares for the reporting period [5]. - The company holds a 21.90% stake in Sociedad Química y Minera de Chile S.A. (SQM), a significant player in the global lithium market [8]. - The company holds a 51% stake in Tianqi UK Limited, which was renamed Energy Australia Pty Ltd on December 6, 2020 [9]. - Tianqi Lithium Australia Pty Ltd (TLA) was renamed from TLH in June 2021 and is a wholly-owned subsidiary of Tianqi Lithium [9]. - The company has a 20% stake in Tibet Rikaze Zabuye Lithium High-Tech Co., Ltd. as of the end of the reporting period [9]. - The company has a 9.91% stake in Shanghai Aerospace Power Technology Co., Ltd. at the end of the reporting period [9]. - The company has a 49% stake in Windfield Holdings Pty Ltd, which is a significant lithium product producer globally [9]. Financial Performance - The company's operating revenue for 2021 was ¥7,663,320,941.87, representing a 136.56% increase compared to ¥3,239,452,205.58 in 2020 [16]. - The net profit attributable to shareholders for 2021 was ¥2,078,857,302.44, a significant turnaround from a loss of ¥1,833,765,744.87 in 2020, marking a 213.37% increase [16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥1,333,782,795.29, compared to a loss of ¥1,294,492,840.35 in 2020, reflecting a 203.04% increase [16]. - The net cash flow from operating activities for 2021 was ¥2,094,448,935.69, up 200.74% from ¥696,434,171.49 in 2020 [16]. - The basic earnings per share for 2021 was ¥1.41, a recovery from a loss of ¥1.24 in 2020, representing a 213.71% increase [16]. - The total assets at the end of 2021 were ¥44,165,325,659.12, a 5.07% increase from ¥42,035,564,445.32 at the end of 2020 [16]. - The company's net assets attributable to shareholders increased by 145.12% to ¥12,761,280,130.72 in 2021 from ¥5,206,126,193.53 in 2020 [17]. - The company reported a quarterly operating revenue of ¥3,790,602,361.53 in Q4 2021, contributing significantly to the annual total [19]. - The company achieved a weighted average return on equity of 23.15% in 2021, up 53.29 percentage points from -30.14% in 2020 [16]. - The company reported non-recurring gains totaling ¥745,074,507.15 in 2021, compared to a loss of -539,272,904.52 in 2020 [21]. Production and Capacity - The company reported a significant increase in its lithium production capacity, aligning with the growing demand for electric vehicle batteries [11]. - The company has a total lithium concentrate production capacity of 1.34 million tons per year and a lithium compound and derivative production capacity of 44,800 tons as of December 31, 2021 [58]. - The company has established a resource base at the Greenbushes lithium mine in Western Australia and has strategic holdings in SQM and Zhabuye lithium resources [55]. - The company is constructing a battery-grade lithium hydroxide production line in Australia with a total annual capacity of 48,000 tons, with the first phase already in trial production [60]. - The company has achieved 100% self-sufficiency in lithium concentrate supply, which enhances operational efficiency and profitability [90]. - The company’s lithium products are widely used in electric vehicles, energy storage systems, ceramics, and glass [58]. Market Trends and Demand - The global demand for lithium batteries is expected to continue rising, with the share of lithium battery demand in 2020 reaching 37% for power batteries, 29% for consumer batteries, and 3% for energy storage batteries [38]. - The lithium market is experiencing increased demand due to the rapid growth of electric vehicle penetration and the development of the energy storage industry [38]. - The demand for lithium compounds, particularly lithium carbonate and lithium hydroxide, has surged due to the rapid growth in the production of downstream materials such as ternary materials and lithium iron phosphate, leading to a supply-demand imbalance and rising prices [39]. - The company emphasizes the production of battery-grade lithium hydroxide, with a new plant in Australia dedicated solely to this product [30]. - The company is focused on expanding its lithium business and aims to optimize production capacity through effective technological means, supporting the sustainable development of lithium-ion battery technology [56]. Research and Development - The company has maintained its commitment to research and development of new lithium products and technologies to enhance market competitiveness [11]. - The company has established a strong R&D team focused on energy conservation and product quality improvement, with multiple research centers across China and Australia [72]. - The company has received several awards for technological progress, including the first prize from the China Nonferrous Metals Industry Science and Technology Award [73]. - In 2021, the company conducted research on "modular technology for direct lithium extraction from brine," aiming to provide efficient, clean, and low-consumption solutions for various salt lake brines [74]. - The company achieved a significant milestone by developing low-cost preparation technology for lithium sulfide, a key raw material for solid-state electrolytes, and successfully established continuous sample production capabilities for ultra-thin lithium metal strips for next-generation high-energy lithium batteries [74]. Sustainability and ESG Commitment - The company emphasizes its commitment to sustainable development, adhering to advanced ESG standards and focusing on energy efficiency and pollution reduction [3]. - The company is committed to corporate social responsibility and actively engages in community welfare projects [4]. - The company is dedicated to creating more value for shareholders and partners while contributing to sustainable development and ecological balance [4]. - The company has established an ESG and Sustainability Committee aims to enhance the company's commitment to environmental and social governance [169]. - The management team emphasized the importance of sustainability initiatives, with a goal to reduce carbon emissions by 30% by 2025 [194]. Strategic Partnerships and Acquisitions - The company has established strategic partnerships with major battery material manufacturers and multinational electronics companies, providing customized services to clients [56]. - The company is pursuing a global cooperation strategy, considering expansion into North America and Northern Asia, with Hong Kong as a trade and innovation platform [71]. - The company is exploring partnerships with electric vehicle manufacturers to secure long-term supply agreements, potentially increasing revenue by 500 million RMB over the next three years [194]. - The company has identified potential acquisition targets in the lithium sector to enhance its market position and resource base [198]. Risk Management and Challenges - The company faces potential risks from reduced downstream demand due to rising raw material costs, which could pressure financial liquidity and production capacity [84]. - National policies aimed at stabilizing lithium product prices may impact the company's operational performance in the short term [85]. - The company acknowledges the potential for significant adverse impacts from trade tensions and economic conflicts, particularly between major economies [163]. - The ongoing COVID-19 pandemic has created substantial uncertainty and economic disruption, affecting labor, operations, and demand for the company's products [161]. - The company has implemented measures to comply with local pandemic control policies to ensure safe operations in both domestic and overseas factories [162].

Financial Performance - The company's revenue for Q1 2022 reached ¥5,257,158,413.95, representing a 481.41% increase compared to ¥904,210,248.68 in the same period last year[3] - Net profit attributable to shareholders was ¥3,327,975,300.41, a significant increase of 1,442.65% from a loss of ¥247,866,438.13 in the previous year[3] - Basic and diluted earnings per share were both ¥2.25, compared to a loss of ¥0.17 per share in the previous year, marking an increase of 1,423.53%[7] - Operating profit for the current period was ¥5,051,728,868.10, compared to a loss of ¥152,246,648.53 in the previous period, indicating a turnaround in profitability[19] - Net profit for the current period was ¥3,935,679,380.35, a substantial improvement from a net loss of ¥181,920,728.65 in the previous period[19] - Total comprehensive income for the current period was ¥4,578,221,576.67, compared to a loss of ¥206,641,743.53 in the previous period[19] Cash Flow and Assets - The net cash flow from operating activities was ¥3,836,609,528.29, up 980.62% from ¥355,038,106.40 in the same period last year[3] - Cash flow from operating activities generated ¥3,836,609,528.29, a significant increase from ¥355,038,106.40 in the previous period[20] - The company's current assets reached CNY 7.23 billion, up from CNY 6.47 billion, indicating a growth of about 11.7%[15] - Cash and cash equivalents increased to CNY 2.49 billion from CNY 1.99 billion, representing a rise of approximately 25%[15] - The ending balance of cash and cash equivalents reached ¥2,225,533,454.21, up from ¥1,178,590,311.37 at the end of the previous period[21] Investments and Financing - The company recognized investment income from its associate SQM, which is expected to show significant growth in Q1 2022 compared to the previous year[5] - Tianqi Lithium Holdings sold part of its stake in SQM, raising approximately $159 million through a financing scheme involving 2,575,318 and 2,700,000 shares of SQM B shares as collateral[12] - The company has completed the delivery of part of the financing, repaying Morgan approximately $88.35 million and delivering 2,079,125 shares of SQM B shares[12] - Tianqi Lithium plans to issue H-shares not exceeding 20% of the total share capital post-issue, with proceeds aimed at debt repayment, capacity expansion, and operational capital[13] - The company is actively progressing with its H-share issuance application, having received acceptance from the China Securities Regulatory Commission[13] - Cash inflow from financing activities was ¥1,198,159,057.97, while cash outflow totaled ¥4,418,296,152.10, leading to a net cash flow from financing activities of -¥3,220,137,094.13[21] Shareholder Equity and Assets - Total assets at the end of the reporting period were ¥46,726,529,153.73, a 5.80% increase from ¥44,165,325,659.12 at the end of the previous year[3] - Shareholders' equity attributable to the parent company increased by 29.78% to ¥16,561,213,956.94 from ¥12,761,280,130.72 at the end of the previous year[3] - The company's equity attributable to shareholders rose to CNY 16.56 billion, compared to CNY 12.76 billion, marking an increase of approximately 29.5%[17] Legal and Operational Stability - The company successfully resolved all litigation and arbitration matters with MSP, concluding all judicial processes related to the disputes[14] - The company has maintained a focus on strategic negotiations to mitigate potential adverse impacts from legal disputes, ensuring operational stability[14] - The company is committed to maintaining its operational capabilities while managing its financial obligations effectively[12] Expenses - Sales expenses increased to ¥5,814,334.27 from ¥4,241,692.18, reflecting a rise in marketing efforts[18] - Research and development expenses were slightly up to ¥5,681,707.25 from ¥5,491,674.91, indicating continued investment in innovation[18] - The company reported a tax expense of ¥1,115,051,405.53 for the current period, compared to ¥37,711,439.38 in the previous period, reflecting higher profitability[19]