Zheng Quan Zhi Xing·2025-08-29 14:21Core Viewpoint - Tianqi Lithium's half-year report for 2025 indicates a significant decline in revenue and a notable increase in net profit, reflecting a complex financial landscape for the company amid market fluctuations [1][2]. Financial Performance - The company's operating revenue for the reporting period was approximately 4.83 billion yuan, a decrease of 24.71% compared to the same period last year [1]. - Net profit attributable to shareholders was approximately 84.41 million yuan, marking a 101.62% increase from a loss of over 5.2 billion yuan in the previous year [1]. - The net profit after deducting non-recurring gains and losses was approximately 1.32 million yuan, a 100.03% increase from a loss of over 5.2 billion yuan in the previous year [1]. - The net cash flow from operating activities was approximately 1.82 billion yuan, down 18.58% from the previous year [1]. Earnings Metrics - Basic earnings per share were reported at 0.05 yuan, a significant increase of 101.57% from a loss of 3.18 yuan per share in the previous year [2]. - Diluted earnings per share also stood at 0.05 yuan, reflecting the same percentage increase [2]. - The weighted average return on net assets was 0.20%, down from 10.65% in the previous year [2]. Asset and Equity Position - Total assets at the end of the reporting period were approximately 73.60 billion yuan, an increase of 7.17% from the previous year [2]. - Net assets attributable to shareholders were approximately 41.91 billion yuan, showing a slight increase of 0.04% from the previous year [2]. Shareholder Information - The largest shareholder, Chengdu Tianqi Industrial (Group) Co., Ltd., holds 25.37% of the shares, while HKSCC Nominees Limited holds 10.00% [2]. - The total number of ordinary shareholders at the end of the reporting period was 270,741 for A shares and 44 for H shares [2]. Important Developments - The company has initiated a project to build a production base for battery-grade lithium hydroxide in Zhangjiagang, Jiangsu Province, with a total investment of approximately 3 billion yuan [5]. - The first phase of the project aims to produce 30,000 tons of battery-grade lithium hydroxide annually and is expected to be flexible in switching production between lithium hydroxide and lithium carbonate based on market demand [5]. - The company has also established joint ventures for the construction and management of tailings storage and water supply facilities, enhancing resource utilization and operational efficiency [6][7]. Project Adjustments - The company has decided to terminate the second phase of the lithium hydroxide project due to economic feasibility concerns, after an investment of approximately 2.07 billion yuan [8]. - This decision is aimed at optimizing investment and reducing potential economic losses, reflecting a prudent approach to resource allocation [8].