Financial Performance - Revenue for the third quarter was CNY 3,646,159,930.05, a decrease of 57.48% compared to the same period last year[3]. - Net profit attributable to shareholders was CNY -495,644,270.41, representing a decline of 130.11% year-over-year[3]. - The basic earnings per share was CNY -0.30, down 130.00% from CNY 1.00 in the same period last year[6]. - Operating revenue for the reporting period was ¥10,064,738,520.01, a decrease of 69.87% compared to ¥33,399,166,232.91 in the same period last year, primarily due to a significant drop in the average selling price of lithium products[7]. - Net profit attributable to shareholders was -¥5,701,413,364.59, representing a decline of 170.40% from ¥8,098,513,756.30 year-on-year, mainly due to decreased sales prices and gross margins of lithium products[7]. - Basic and diluted earnings per share were both -¥3.48, a decrease of 170.59% from ¥4.93 in the same period last year, reflecting the significant drop in net profit[7]. - The company reported a significant drop in sales revenue from 35,421,723,913.00 to 11,312,090,167.48, reflecting a challenging market environment[38]. - The total comprehensive income attributable to the parent company was 1,197,098,394.24, down from 22,893,356,563.04 in the previous period[37]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 70,355,035,161.95, a decrease of 3.92% from the previous year[3]. - Equity attributable to shareholders decreased by 15.55% to CNY 43,508,204,212.27 compared to the end of the previous year[3]. - The company's current assets totaled ¥13,631,775,908.46, down from ¥19,629,040,462.42, indicating a decrease of about 30.5%[28]. - The total liabilities increased to ¥20,001,526,283.47 from ¥18,991,821,645.97, reflecting an increase of approximately 5.3%[30]. - The company’s long-term equity investments decreased from ¥26,873,607,682.35 to ¥25,612,103,131.11, a decline of approximately 4.7%[28]. Cash Flow - Cash flow from operating activities showed a net outflow of CNY -5,736,899,667.35, a decline of 171.87% year-over-year[3]. - The net cash flow from operating activities was ¥4,192,370,886.76, down 79.07% from ¥20,035,216,823.45 in the previous year, attributed to a substantial decline in operating revenue[7]. - Cash inflow from financing activities totaled 9,023,769,728.18, up from 7,540,421,688.89 in the previous period, reflecting a growth of approximately 19.6%[39]. - The net cash flow from financing activities was -2,559,321,184.06, an improvement from -23,230,195,129.05 in the previous period, showing a reduction in cash outflow[39]. - The cash flow from investment activities saw a total outflow of 5,692,883,054.37, compared to 2,840,874,577.84 in the previous period, indicating a substantial increase in investment spending[39]. Shareholder Information - The company holds a total of 326,228 common shareholders (A-shares) and 47 (H-shares) as of the end of the reporting period[10]. - Chengdu Tianqi Industry (Group) Co., Ltd. holds a 25.37% stake, amounting to 416,316,432 shares, making it the largest shareholder[10]. - The top 10 shareholders include China Postal Savings Bank with 8,525,734 shares and ICBC with 8,340,773 shares, both holding RMB common stock[12]. - The total number of shares held by the top 10 shareholders participating in margin trading was 19,911,757, accounting for 1.21% of the total share capital[13]. - The company has not disclosed any related party relationships among the top shareholders, except for a known relationship between Zhang Jing and Jiang Weiping[12]. Investment and Development - The company is actively working on new product development and market expansion strategies to mitigate the impact of declining lithium prices[8]. - The Suining Anju factory project for an annual production capacity of 20,000 tons of battery-grade lithium carbonate has a total planned investment of approximately RMB 1.5 billion[18]. - The budget for the Suining Anju project has been finalized at RMB 1.4778071 billion, and the project has completed construction and entered the trial operation phase[19]. - The company’s subsidiary Sichuan Tianqi Shenghe Lithium Industry has obtained approval for the construction of the Cuola lithium spodumene mine project, laying the groundwork for future development[20]. Market Conditions and Future Outlook - The company confirmed a substantial decrease in investment income from its joint venture SQM for the third quarter of 2024[6]. - The company expects a gradual reduction in losses in Q2 and Q3 of 2024 as the pricing mechanism for lithium concentrate aligns with recent procurement prices[8]. - The pricing mechanism mismatch between the company's lithium products and the pricing of lithium concentrate from its subsidiary Talison Lithium Pty Ltd has led to temporary losses, which are expected to improve as market conditions stabilize[8].
天齐锂业(09696) - 2024 Q3 - 季度业绩