TLC(002466)2024-10-30 12:21Financial Performance - The company's operating revenue for Q3 2024 was ¥3,646,159,930.05, a decrease of 57.48% compared to the same period last year[3]. - The net profit attributable to shareholders for Q3 2024 was -¥495,644,270.41, representing a decline of 130.11% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥516,039,799.65, down 132.82% from the previous year[3]. - The net cash flow from operating activities for the year-to-date was ¥4,192,370,886.76, a decrease of 79.07% compared to the same period last year[3]. - Total operating revenue for Q3 2024 was CNY 10,064,738,520.01, a decrease from CNY 33,399,166,232.91 in the same period last year, representing a decline of approximately 69.9%[27]. - Net profit for Q3 2024 was CNY 1,734,043,201.82, significantly lower than CNY 22,370,264,777.45 in the previous year, reflecting a decrease of approximately 92.2%[28]. - The net profit attributable to the parent company was -5.70 billion CNY, compared to 7.44 billion CNY in the previous period, indicating a significant decline[29]. - The total comprehensive income attributable to the parent company was 1.20 billion CNY, down from 22.89 billion CNY in the previous period[29]. - The basic earnings per share were -3.48 CNY, compared to 4.93 CNY in the previous period, reflecting a negative performance[29]. Assets and Liabilities - The total assets at the end of Q3 2024 were ¥70,355,035,161.95, a decrease of 3.92% from the end of the previous year[3]. - The total liabilities increased to CNY 20,001,526,283.47 from CNY 18,991,821,645.97, marking an increase of about 5.3%[28]. - The total equity attributable to shareholders decreased to CNY 43,508,204,212.27 from CNY 51,519,658,068.18, a decline of approximately 15.6%[28]. - The company's long-term equity investments decreased from ¥26,873,607,682.35 to ¥25,612,103,131.11, a reduction of approximately 4.7%[25]. - The company's fixed assets increased from ¥9,079,609,360.11 to ¥12,304,536,948.12, reflecting an increase of about 35.5%[25]. - Short-term borrowings rose significantly from ¥337,372,340.00 to ¥1,430,963,725.90, an increase of approximately 324%[25]. - The long-term borrowings increased to CNY 11,427,835,608.53 from CNY 9,544,758,108.47, reflecting an increase of about 19.7%[28]. Shareholder Information - Total number of ordinary shareholders at the end of the reporting period is 326,228 for A shares and 47 for H shares[8]. - The largest shareholder, Chengdu Tianqi Industrial (Group) Co., Ltd., holds 25.37% of shares, totaling 416,316,432 shares[10]. - HKSCC NOMINEES LIMITED holds 10.00% of shares, totaling 164,085,245 shares[10]. - The top 10 shareholders account for a significant portion of the total share capital, with the largest shareholder holding over 25%[12]. - The company has a diverse shareholder base, including domestic and foreign entities[10]. - The total number of preferred shareholders with restored voting rights is zero[8]. - The company has not disclosed any new strategies related to market expansion or mergers and acquisitions in this report[12]. Cash Flow and Investments - As of September 30, 2024, the company's cash and cash equivalents decreased to ¥6,275,563,352.70 from ¥9,588,520,244.89 at the beginning of the period, representing a decline of approximately 34.5%[25]. - Cash flow from operating activities generated a net amount of 4.19 billion CNY, a decrease from 20.04 billion CNY in the previous period[31]. - Cash inflow from operating activities totaled 12.21 billion CNY, down from 36.35 billion CNY in the previous period[31]. - Cash outflow from operating activities was 8.02 billion CNY, compared to 16.31 billion CNY in the previous period[31]. - The net cash flow from investing activities was -4.67 billion CNY, worsening from -0.90 billion CNY in the previous period[31]. - The net cash flow from financing activities was -11.58 billion CNY, compared to -30.77 billion CNY in the previous period[32]. - The ending balance of cash and cash equivalents was 6.25 billion CNY, down from 7.70 billion CNY in the previous period[32]. - The company received 650 million CNY from cash recovered from investments, while cash inflow from investment activities totaled 1.03 billion CNY[31]. Production and Sales - The sales volume of lithium compounds and derivatives increased by 67.71% year-on-year for the first three quarters of 2024[7]. - The sales volume for Q3 2024 increased by 24.69% compared to Q2 2024[7]. - The company experienced a significant decline in the average selling price of lithium products, impacting overall profitability[6]. - The company confirmed a substantial decrease in investment income from its associate company SQM, contributing to the overall loss[6]. Strategic Initiatives - The company plans to issue debt financing tools up to RMB 6 billion, with a registered short-term financing bond of RMB 2 billion and a medium-term note of RMB 4 billion approved[16]. - The first phase of short-term financing bonds was successfully issued at a total amount of RMB 300 million with an interest rate of 2.35% and a term of 1 year[16]. - The company has initiated commodity futures hedging to mitigate price volatility risks, with a maximum trading margin and premium cap of RMB 200 million and a maximum contract value of RMB 800 million per trading day[17][18]. - The Suining Anju factory project for an annual production capacity of 20,000 tons of battery-grade lithium carbonate has a total investment of approximately RMB 1.5 billion and has completed construction as of October 27, 2023[19][20]. - The project has achieved product sales and has established a stable customer base, with the first batch of battery-grade lithium carbonate meeting the required standards[20]. - The company’s subsidiary, Shenghe Lithium, has signed a cooperation agreement for the construction of a power transmission and transformation project in the Moke lithium mine area, establishing a joint venture for this purpose[21]. - The company holds approximately 22.16% of SQM, having invested USD 4.066 billion for a 23.77% stake, and is involved in a non-binding memorandum with Codelco regarding operations in the Atacama salt flat from 2025 to 2060[22]. - The company’s subsidiary Tianqi Chile has filed an administrative review against CMF's decision regarding the partnership agreement with SQM and Codelco, which is currently under judicial review[23]. - The partnership agreement aims to develop lithium and potassium production activities in the Atacama salt flat region, indicating a strategic move towards resource development[23].