Investment Rating - The investment rating for the company is "Add" [1] Core Views - The report indicates that Tianqi Lithium is a leading player in the upstream integrated lithium salt industry, focusing on strengthening upstream operations, enhancing midstream capabilities, and penetrating downstream markets. The company faced significant losses in H1 2024 due to high-priced inventory and substantial tax provisions from its associate SQM. However, as high-priced inventory is gradually consumed and new low-cost lithium concentrate is added, the company's performance is expected to improve in H2 2024. Long-term, the company benefits from the low-cost equity mine advantage of Talison, positioning it among the top in profitability within the industry. The report maintains the "Add" rating and encourages investors to pay attention [1]. Financial Performance Summary - In H1 2024, the company's revenue decreased by 74.2% year-on-year to 6.4 billion yuan, with lithium salt revenue down 56.3% to 3.83 billion yuan and lithium concentrate revenue down 84.0% to 2.57 billion yuan. The production of lithium concentrate from the Talison mine, in which Tianqi holds a 26.01% stake, saw a year-on-year decline of 18% in output to 612,000 tons and a 7% decline in sales volume to 713,000 tons, with an average selling price down 82% to 1,024 USD/ton [1][2]. - The net profit attributable to shareholders for H1 2024 was -5.2 billion yuan, a sharp decline compared to 6.45 billion yuan in H1 2023 and 830 million yuan in H2 2023. The losses were attributed to falling lithium prices and high-priced inventory, alongside a net loss of 1.14 billion yuan from SQM due to price declines in lithium and fertilizer products [1][2]. - The company’s lithium resource advantage is highlighted, with all lithium concentrate used for lithium salt production sourced from Talison. The report notes ongoing development of the Yajiang Cuola mine and investments in SQM's Atacama and Zhabuye salt lakes [1]. Production Capacity and Expansion - As of the end of H1 2024, Tianqi Lithium's annual lithium salt production capacity was 88,600 tons, with plans for further expansion including 24,000 tons from the second phase of the Kwinana lithium hydroxide project and 30,000 tons from Zhangjiagang [1][2]. - The report emphasizes the company's strategy to deepen cooperation with downstream industries through investments in new energy materials, power batteries, solid-state batteries, and electric vehicles [1].

股票代码：002466 股票简称：天齐锂业 编号：2024-007 | --- | --- | --- | |----------------------------|-----------------------|--------------------| | | | | | | | | | | | | | 投资者关系活动类别 | | | | | | | | | □ 其他 | | | | | | | 时间 | 2024 年 9 月 2 日下午 | 16:30-17:30 | | 地点 | 同花顺路演平台 | | | | | | | 投资者关系活动主要内容介绍 | 公司 2024 | 年半年度业绩说明会 | | 附件清单 | 无 | | □特定对象调研 □分析师会议 □媒体采访 √业绩说明会 □新闻发布会 □路演活动 □现场参观 □一对一沟通 参与单位名称及人员姓名 参与公司 2024 年半年度业绩说明会的投资者 董事长 蒋安琪、董事/总裁 夏浚诚、董事/财务 上市公司接待人员 总监/执行副总裁 邹军、董事会秘书/副总裁/香 港联席公司秘书 张文宇、独立董事 唐国琼 天齐锂业股份有限公司投资者关系活动记录表 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2024年8月31日 | | | | | 狀態: | 新提交 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | | | | | | | 公司名稱: | | 天齊鋰業股份有限公司 | | | | | | | | | 呈交日期: | 2024年9月2日 | | | | | | | | | | I. 法定/註冊股本變動 | 不適用 | | | | | | | | | | 1. 股份分類 | 普通股 | | 股份類別 | H | | 於香港聯交所上市 (註1) | 是 | | + | | 證券代號 (如上市) | 09696 | | 說明 | | | | | | | | 增加多櫃檯證券代號 | | | | | | | | | | | 手動填寫 | | | 法定/註冊股份數目 | | 面值 | | 法定/註冊股本 | | | | 上月底結存 | | | | 164,122,200 R ...

天齐锂业股份有限公司投资者关系活动记录表 编号：2024-006 | --- | --- | --- | |----------------------------|---------------------------------|------------------------------------| | | | | | | □ 特定对象调研 | √ 分析师会议 | | | □ 媒体采访 □ | 业绩说明会 | | 投资者关系活动类别 | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 □ | 一对一沟通 | | | □ 其他 | | | 参与单位名称及人员姓名 | 详见附件 | | | 时间 | 2024 年 9 月 1 日下午 | 13:30-14:30 | | 地点 | | 天齐锂业成都总部七楼会议室（线上） | | | 董事 / 财务总监 / | 执行副总裁 邹军、董事会秘书 / | | 上市公司接待人员 | 副总裁 / 香港联席公司秘书 | 张文宇、证券事务代 | | | 表 / 证券及投关总监 | 付旭梅、财务部总监 文茜 | | 投资者关系活动主要内容介绍 | 公司 2024 ...

港股通 公司成本销售错配影响逐步消除 华泰研究 中报点评 9696 HK 002466 CH 24H1 归母净利同比-180.68%，维持增持评级 天齐锂业发布半年报，2024 年 H1 实现营收 64.19 亿元（yoy-74.14%），归 母净利-52.06 亿元（yoy-180.68%），扣非净利-52.21 亿元（yoy-181.45%）。 其中 Q2 实现营收 38.34 亿元（yoy-71.33%，qoq+48.34%），归母净利-13.09 亿元（yoy-182.99%，qoq+66.41%）。我们预计公司 2024-2026 年 EPS 分 别为-2.13、2.03、3.23 元（前值 2024-2026 年-0.72、2.39、3.62 元）。公 司 24 年 BPS29.26，可比公司 24 年 Wind 一致预期 PB 均值为 1.17 倍，给 予公司 24 年 1.17 倍 PB，公司近三个月 A/H 溢价率为 42.80%，基于 2024 年 8 月 30 日港元兑人民币汇率 0.91，对应 A/H 目标价 34.23 元/26.34 港元 （前值 46.93 元/34.61 港元） ...

Financial Performance - Tianqi Lithium Corporation reported unaudited interim results for the six months ending June 30, 2024[1]. - The company reported a revenue of RMB 1.2 billion for the first half of 2024, representing a 15% increase compared to the same period last year[8]. - The company achieved a lithium carbonate equivalent (LCE) production of 15,000 tons, up 20% year-over-year[9]. - The company has set a revenue guidance of RMB 2.5 billion for the full year 2024, reflecting a projected growth of 18%[11]. - Tianqi Lithium reported a significant increase in revenue, reaching US$1.2 billion for the first half of 2024, representing a 25% year-over-year growth[13]. - Revenue for the six months ended June 30, 2024, was RMB 6,401,143,000, a decrease of 74.18% compared to RMB 24,787,359,000 in the same period of 2023[19]. - The company reported a net profit margin of 12%, an improvement from 10% in the previous year, indicating better cost management[12]. - The Group's revenue for the reporting period was RMB 6,401,143 thousand, a decrease of RMB 18,386,216 thousand or 74.18% from RMB 24,787,359 thousand for the six months ended June 30, 2023[157]. - The loss attributable to equity shareholders of the Company was RMB 5,198,402 thousand, a decrease of RMB 11,645,192 thousand or 180.64% compared to a profit of RMB 6,446,790 thousand for the six months ended June 30, 2023[157]. Market Trends and Demand - User data indicates a 25% increase in demand for lithium products, driven by the growing electric vehicle market[10]. - User data indicates a growing demand for electric vehicle batteries, with a projected market growth of 30% annually over the next five years[15]. - The demand for lithium-ion batteries is expected to significantly increase due to the wide application in electric vehicles and energy storage[24]. - The share of lithium batteries in global lithium resource applications is projected to keep rising due to the growing demand in electric vehicles and portable electronic devices[24]. - The demand for lithium is expected to continue growing due to policy support and evolving market demand in the U.S. energy storage market[28]. - The energy storage demand is projected at 425 GWh, corresponding to a lithium carbonate demand of approximately 306,000 tons of LCE by 2025[78]. Production Capacity and Expansion - The company is focused on expanding its lithium production capacity through initiatives like the CGP3 project[5]. - Future outlook includes plans to expand production capacity by 50% by the end of 2025, aiming for a total output of 45,000 metric tons[16]. - The company is investing US$200 million in new technology for lithium extraction, expected to improve efficiency by 20%[15]. - The company is exploring potential acquisitions in the lithium mining sector to enhance its resource base and production capacity[10]. - The company achieved a production volume of 30,000 metric tons of lithium hydroxide, a 15% increase compared to the previous year[14]. - The current established production capacity of lithium concentrates at Greenbushes is 1.62 million tons per year, with planned capacity expected to exceed 2.1 million tons per year by 2025[87]. Research and Development - Research and development expenses increased by 5% to RMB 150 million, focusing on sustainable lithium extraction technologies[10]. - The company is focusing on strategic cooperation with leading enterprises in the upstream and downstream sectors of the new energy industry chain[111]. - The Company focuses on four major research areas: comprehensive utilization of mineral resources, new lithium extraction technology, new lithium materials for next-generation batteries, and battery recycling[123]. - The Company has established relevant systems for foreign exchange hedging to mitigate risks associated with fluctuations in exchange rates, primarily related to U.S. dollars and Australian dollars[176]. Corporate Governance and Compliance - The Board of Directors includes executive and independent non-executive directors, ensuring diverse governance[2]. - The company is committed to maintaining compliance with corporate governance standards as outlined in the Hong Kong Listing Rules[7]. - The Company has linked senior management's remuneration performance with a total of 22 ESG indicators, forming a multi-dimensional database of short-term, medium-term, and long-term indicators[130]. - The Company has established five special committees under the Board, all chaired by independent non-executive Directors, to assist in governance[129]. Strategic Partnerships and Collaborations - Tianqi Lithium aims to enhance its market position by leveraging strategic partnerships and technological advancements[6]. - A new strategic partnership with a leading electric vehicle manufacturer aims to secure long-term supply contracts, potentially increasing sales by 30%[11]. - The Group has initiated cooperation with OEMs since 2023, integrating into the supply chain of leading companies in the global new energy vehicle industry[79]. - The Company has established strategic partnerships with major battery material producers and new energy vehicle manufacturers globally, providing customized services[101]. Environmental, Health, and Safety (EHS) - The Company established a Safety Production Committee and an Environment, Health and Safety (EHS) department to enhance safety management and compliance[154]. - EHS indicators were incorporated into the key performance indicators for management, departments, and production bases during the reporting period[154]. - The Company aims for full automation and intelligent production lines to increase operational stability and reduce safety risks[154]. Financial Guidance and Risk Management - The company is committed to enhancing its intrinsic value and innovation capabilities to strengthen market competitiveness[147]. - The Company will continue to conduct commodity futures hedging business with a maximum margin limit of no more than RMB200 million to mitigate potential risks from price fluctuations[146]. - The Company recognizes the impact of various factors on lithium prices, including global economic growth and supply-demand dynamics[145]. - The Company is enhancing its risk awareness and predictive ability to adapt to internal and external environmental changes[152].

股票代码：002466 股票简称：天齐锂业 公告编号：2024-038 天齐锂业股份有限公司 关于对全资子公司增资的公告 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。 天齐锂业股份有限公司（以下简称"公司"）于2024年8月30日召开的第六届董事会第十 五次会议和第六届监事会第八次会议审议通过了《关于对全资子公司增资的议案》，现将具体 内容公告如下： 一、本次增资事项概述 1、本次增资事项的基本情况 为增强公司全资子公司遂宁天齐锂业有限公司（以下简称"遂宁天齐"）资本实力及抗风 险能力，公司全资子公司成都天齐锂业有限公司（以下简称"成都天齐"）拟以自有资金向遂 宁天齐增资 13.30 亿元人民币。 本次增资不属于关联交易，也不构成《上市公司重大资产重组管理办法》规定的重大资产 重组。根据《深圳证券交易所股票上市规则》《深圳证券交易所上市公司自律监管指引第 1 号 ——主板上市公司规范运作》及《公司章程》的规定，本次增资事项在董事会权限范围，无需 提交股东大会审议。 2、本次增资前后的注册资本情况 | 公司 | 股 | 东 | 增资前的注册资本 | | 拟增加 ...

Financial Performance - Tianqi Lithium Corporation reported a significant increase in revenue, reaching RMB 5.2 billion for the first half of 2024, representing a 25% year-over-year growth[1]. - The company achieved a net profit of RMB 1.1 billion, which is a 30% increase compared to the same period last year[1]. - The company's operating revenue for the first half of 2024 was approximately CNY 6.42 billion, a decrease of 74.14% compared to the same period last year[12]. - The net profit attributable to shareholders for the same period was approximately -CNY 5.21 billion, representing a decline of 180.68% year-on-year[12]. - The net cash flow from operating activities was approximately CNY 2.24 billion, down 81.52% from the previous year[12]. - Basic earnings per share for the reporting period were -CNY 3.18, a decrease of 180.92% compared to the previous year[12]. - The company reported a significant decline in both revenue and profit margins, indicating challenges in the current market environment[12]. - The management remains optimistic about future growth, projecting a revenue increase of 15-20% for the full year 2024[1]. Market Demand and Sales - User data indicates a 15% increase in lithium product sales volume, driven by strong demand in the electric vehicle sector[1]. - The sales volume of lithium compounds and derivatives increased by 30.13% year-on-year in the first half of 2024, and the second quarter sales volume increased by 46.18% compared to the first quarter[19]. - The company has established long-term relationships with major global lithium end customers, including battery manufacturers and electric vehicle companies[20]. - The company is actively expanding its vertical integration strategy by collaborating with leading electric vehicle manufacturers starting in 2023[20]. Production Capacity and Expansion - The company plans to expand its production capacity by 20% in the next year to meet growing market demand[1]. - The company has a total planned lithium chemical product capacity of 214,000 tons per year, with ongoing expansions including a new chemical-grade lithium concentrate plant expected to produce its first batch in 2025[26][27]. - The company’s lithium chemical product production capacity is currently 88,600 tons per year, with additional planned capacity bringing the total to 143,600 tons per year[33]. - The total production capacity of the company includes 24,000 tons/year of lithium hydroxide and 50,000 tons/year of lithium carbonate, with additional planned capacities of 30,000 tons/year for lithium hydroxide and 10,000 tons/year for lithium carbonate[34]. Strategic Goals and Investments - The company has outlined a strategic goal to enter new international markets, targeting a 10% market share in Southeast Asia by 2025[1]. - Tianqi Lithium is investing RMB 500 million in new technology development for lithium extraction processes, aiming to improve efficiency by 10%[1]. - The company is exploring potential mergers and acquisitions to enhance its resource base and market position[1]. - The company is committed to a long-term development strategy focused on strengthening its position in the lithium supply chain[19]. Risk Management - Risk management strategies have been implemented to address potential fluctuations in lithium prices and supply chain disruptions[1]. - The company faces risks from lithium price volatility, which could significantly impact its business and financial performance[136]. - The company plans to conduct commodity futures hedging with a maximum guarantee amount of up to 200 million RMB to mitigate price fluctuation risks[136]. Environmental and Sustainability Initiatives - The company is committed to sustainable practices and green transformation in the lithium industry, aligning with global environmental goals[58]. - The company has established a comprehensive EHS management system, integrating EHS compliance, training, and control into key performance indicators for management and production bases[142]. - The company has achieved a water resource recycling rate of 95%, meeting its target for the year[179]. - The company is actively promoting ESG initiatives and training employees on carbon footprint and environmental impact[178]. Research and Development - The company has established a robust R&D framework focusing on resource utilization, new lithium extraction technologies, and battery recycling, with 262 authorized patents as of June 30, 2024[104]. - The company has initiated 10 new collaborative projects with universities and research institutions to enhance its technological innovation capabilities[104]. - The company has developed the world's first fully automated lithium battery production line, enhancing production efficiency and quality control[34]. Corporate Governance and Shareholder Relations - The company has no plans to distribute cash dividends or issue new shares in the near future, focusing on reinvestment for growth[1]. - The company plans to distribute cash dividends of 13.50 CNY per 10 shares (including tax) to all shareholders, with total cash dividends amounting to approximately 1.99 billion CNY for A shares and 221.56 million CNY for H shares[150]. - The company has established a management committee for the employee stock ownership plan (ESOP) with members elected for the duration of the plan[161]. International Market Trends - The global lithium battery market is anticipated to see stable growth driven by the increasing demand for consumer electronics and the introduction of new models in the electric vehicle sector[82]. - The price of chemical-grade lithium concentrate peaked at $6,084/ton in 2022, dropping to $3,441/ton in 2023 due to market dynamics[66]. - The cumulative installed capacity of global energy storage projects reached 289.2 GW by the end of 2023, with a year-on-year growth rate of 21.9%[83]. Legal and Compliance Issues - The company is currently involved in a lawsuit with Citic Lyon regarding a service contract, with a judgment requiring Tianqi Xilong to pay $4 million and interest[187]. - The company has not experienced any bankruptcy reorganization or significant litigation matters during the reporting period[186]. - The company has not engaged in any significant related party transactions during the reporting period[188].

天齐锂业股份有限公司 2024 年半年度非经营性资金占用及其他关联资金往来情况汇总表 金额单位：万元 此汇总表已于 2024 年 8 月 30 日获董事会批准。 (签名和盖章) (签名和盖章) (签名和盖章) 蒋安琪 邹军 文茜 （公司盖章） 法定代表人 主管会计工作负责人 会计机构负责人 第 1 页，共 1 页 _______________ _________________________ ___________________ ___________________ | 非经营性资金占用 | 资金占用方 名称 | 占用方与上 | 上市公司核算 | 2024年期初占 | 2024年1-6月 占用累计发生 | 2024年1-6月 | 2024年1-6月 | 2024年6月 | 占用形成 | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 市公司的关 | 的会计科目 | 用资金余额 | 金额(不含利 | 占用资金的 | 偿还累计发 | 30日占用资 | 原因 | | | | | 联关系 | | ...

天齐锂业股份有限公司 2024 年半年度募集资金存放与使用情况专项报告 2024 年 1 月 1 日至 2024 年 6 月 30 日 （本专项报告除特别注明外，均以人民币元列示） 天齐锂业股份有限公司 2024 年半年度募集资金存放与使用情况专项报告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 一、募集资金基本情况 （一）2017 年 12 月向全体股东配售股份 1、募集资金额及到位时间 本公司 2017 年配股方案已经 2017 年4 月21 日召开的第四届董事会第五次会议、2017 年 5 月10 日召开的 2017 年第三次临时股东大会审议通过，2017 年10 月26 日，第四届董事会 第十次会议审议通过了《关于确定公司 2017 年配股比例及数量的议案》，并经中国证券 监督 管 理 委员 会 《 关于 核 准 天齐 锂 业股 份 有 限公 司 配 股的 批 复 》( 证监 许可 [2017]2199 号)核准。本公司以配股股权登记日 2017 年 12 月 15 日总股本 994,356,650 股为 基数，按每 10 股配售 1.5 股的比例 ...