2023-10-26 16:00Financial Performance - The company's revenue for Q3 2023 was ¥8,575,931,902.40, a decrease of 17.14% compared to the same period last year[3]. - Net profit attributable to shareholders for Q3 2023 was ¥1,646,051,259.20, down 70.89% year-on-year[3]. - The net profit excluding non-recurring gains and losses for Q3 2023 was ¥1,572,484,555.67, a decline of 72.12% compared to the previous year[3]. - Basic and diluted earnings per share for Q3 2023 were both ¥1.00, representing a decrease of 71.35% year-on-year[3]. - Total revenue for the first nine months of 2023 reached ¥33,399,166,232.91, a growth of 35.52% compared to the same period last year[6]. - Net profit attributable to shareholders for the first nine months of 2023 was ¥8,098,513,756.30, down 49.33% year-on-year[6]. - Total operating revenue for Q3 2023 reached ¥33.40 billion, a 35.5% increase from ¥24.65 billion in the same period last year[20]. - Net profit for Q3 2023 was ¥22.37 billion, up 14.5% from ¥19.55 billion in Q3 2022[21]. - Operating profit for the period was ¥31.68 billion, compared to ¥25.17 billion in the previous year, reflecting a significant growth[20]. - Basic earnings per share for Q3 2023 were ¥4.93, down from ¥10.48 in the same quarter last year[21]. - The total comprehensive income for Q3 2023 was ¥22.89 billion, compared to ¥20.93 billion in Q3 2022, showing overall growth[21]. Assets and Liabilities - Total assets at the end of Q3 2023 were ¥74,431,600,384.02, an increase of 5.06% from the end of the previous year[3]. - As of September 30, 2023, current assets totaled CNY 22.42 billion, down from CNY 25.99 billion at the beginning of the year, representing a decrease of approximately 13.5%[18]. - Cash and cash equivalents decreased to CNY 8.12 billion from CNY 12.46 billion, a decline of about 34.5%[18]. - Accounts receivable amounted to CNY 6.99 billion, slightly down from CNY 7.38 billion, indicating a decrease of approximately 5.2%[18]. - Inventory increased significantly to CNY 3.38 billion from CNY 2.14 billion, reflecting an increase of around 57.8%[18]. - Total liabilities rose to CNY 22.77 billion from CNY 17.78 billion, marking an increase of approximately 28.1%[19]. - The company's total equity decreased to CNY 51.66 billion from CNY 53.07 billion, a decline of about 2.7%[19]. Cash Flow - The company's operating cash flow net amount for the first nine months of 2023 was ¥20,035,216,823.45, an increase of 70.73% year-on-year[7]. - In Q3 2023, Tianqi Lithium's cash inflow from operating activities reached CNY 36.35 billion, a significant increase from CNY 19.80 billion in Q3 2022, representing an 83.4% growth[23]. - The net cash flow from operating activities for Q3 2023 was CNY 20.04 billion, compared to CNY 11.74 billion in the same period last year, marking a 70.5% increase[23]. - Cash outflow from financing activities totaled CNY 30.77 billion in Q3 2023, up from CNY 22.63 billion in Q3 2022, indicating a 35.8% increase[24]. - The net cash flow from financing activities was negative CNY 23.23 billion in Q3 2023, compared to negative CNY 7.36 billion in Q3 2022, reflecting a deterioration in financing conditions[24]. - Cash paid for purchasing goods and services was CNY 6.45 billion in Q3 2023, compared to CNY 2.75 billion in Q3 2022, representing a 134.1% increase[23]. - The company reported a cash inflow of CNY 35.42 billion from sales and services in Q3 2023, compared to CNY 19.29 billion in Q3 2022, reflecting an 83.8% increase[23]. Investments and Projects - The company plans to invest 150 million USD in Smart Mobility Pte. Ltd. for A round financing, acquiring 17,605,633 shares, representing 2.83% of the post-investment total[11]. - The total investment for the Anju project, which aims to build a 20,000-ton battery-grade lithium carbonate factory, is approximately RMB 1.5 billion, with the budget recently adjusted to RMB 1.4778 billion[15][16]. - The Anju project has completed construction and is currently in the trial operation phase, with commercial production contingent on third-party testing and customer certification[16]. - The lithium hydroxide project in Australia has achieved commercial production capability since November 30, 2022, with stable production from December 2022 to April 2023, currently in the capacity ramp-up phase[13]. - The first batch of approximately 10 tons of lithium hydroxide products met battery-grade standards and was certified by SK On, while feedback from other potential buyers is still pending[14]. - The company has introduced strategic investor Zijin Mining Group through a capital increase in its wholly-owned subsidiary, Sichuan Tianqi Shenghe Lithium Industry Co., Ltd., maintaining control over the subsidiary post-transaction[17]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 331,561 for A shares and 46 for H shares[8]. - Chengdu Tianqi Industry (Group) Co., Ltd. holds 25.35% of shares, totaling 416,043,732 shares[8]. - The company distributed cash dividends of 30.00 RMB per 10 shares, totaling 4,429,894,251.00 RMB for A shares and 492,366,600.00 RMB for H shares[10]. - The company has 10 major shareholders, with HKSCC NOMINEES LIMITED holding 10.00% of shares, totaling 164,110,575 shares[9]. - Zhang Jing, an individual shareholder, holds 4.18% of shares, totaling 68,679,877 shares[9]. - The company completed the 2022 profit distribution plan, with a total of 1,641,221,583 shares, of which 1,477,099,383 are A shares[10]. - The company’s major shareholder Chengdu Tianqi Industry (Group) Co., Ltd. participated in securities lending business, with a total of 416,316,432 A shares involved[9]. Market and Economic Conditions - The company confirmed a decrease in investment income from its associate SQM due to expected lower performance in Q3 2023[6]. - The lithium product prices have shown volatility, which could adversely affect the economic viability of projects if prices decline significantly[16]. - The company emphasizes the importance of rational investment and awareness of investment risks due to the uncertainties in project timelines and market conditions[14][16]. - The ramp-up process for production capacity may require further technical optimizations if quality or output issues arise[14][16]. - The company has invested a substantial amount in the lithium hydroxide project, and any delays in achieving production targets may lead to potential losses or impairment risks[14].