智通财经网·2025-04-28 02:38Core Viewpoint - Tianqi Lithium has reported a significant turnaround in its financial performance for Q1 2025, projecting a profit of 82 million to 123 million RMB, compared to a loss of 3.897 billion RMB in the same period last year, indicating a substantial recovery from its "darkest hour" in 2024 [1][3][4] Financial Performance - In 2024, Tianqi Lithium recorded a revenue of 13.063 billion RMB, a decline of 67.75% year-on-year, and a net loss of 7.905 billion RMB, marking a drastic increase in losses by 208.32% compared to the previous year [3][4] - The company’s Q1 2025 performance shows a projected non-GAAP net profit of 32 million to 48 million RMB, a stark contrast to the 3.917 billion RMB loss in Q1 2024 [1][4] Market Reaction - Following the announcement of the Q1 earnings forecast, Tianqi Lithium's AH shares experienced a strong rally, with H shares rising over 10% at one point and closing up 2.52% on April 24, 2025 [1][3] Industry Context - The lithium market has faced downward pressure due to falling lithium prices, with the average spot price for battery-grade lithium carbonate in 2024 dropping by 65% to 93,000 RMB per ton [4][8] - Despite the challenges, the demand for lithium remains optimistic, driven by the growth in the electric vehicle sector, with a projected 19% increase in lithium carbonate demand in 2025 [8][14] Strategic Outlook - Tianqi Lithium aims to enhance production capacity and accelerate technological transformation in 2025, focusing on various research directions including resource utilization and new battery materials [15][16] - The company has a robust resource base, with over 55 million tons of lithium carbonate equivalent (LCE) and plans to expand its production capabilities significantly [15][16]