Zheng Quan Shi Bao Wang·2025-10-29 12:36Core Viewpoint - Tianqi Lithium Industries has turned a profit in Q3 2025, despite a decline in revenue due to lower lithium product sales and prices [1][2] Financial Performance - For the first nine months of 2025, Tianqi Lithium reported revenue of 7.397 billion yuan, a year-on-year decrease of 26.5% [1] - The net profit for the same period was 180 million yuan, a significant recovery from a loss of 5.701 billion yuan in the previous year [1] - In Q3 2025 alone, the company achieved revenue of 2.565 billion yuan, down 29.66% year-on-year, but net profit rose to 95 million yuan, compared to a loss of 496 million yuan in Q3 2024, marking a 119.26% increase [1] Operational Insights - The decline in revenue is attributed to lower sales volume and average selling prices of lithium products [1] - The company maintained a strong cash flow, with a net cash flow from operating activities of 2.193 billion yuan in the first half of 2025 [1] - As of the end of Q3 2025, Tianqi Lithium's debt-to-asset ratio stood at 30.50%, indicating a stable financial condition [1] Market Dynamics - Despite the market fluctuations affecting lithium product prices, Tianqi Lithium's net profit increased significantly due to improved pricing mechanisms and reduced time cycle mismatches in pricing [2] - The appreciation of the Australian dollar against the US dollar during the reporting period contributed to increased foreign exchange gains [2] Strategic Developments - Tianqi Lithium's production base in Jiangsu has completed a project for producing 30,000 tons of battery-grade lithium hydroxide, which has entered the trial operation phase [3] - The company has signed a partnership agreement to establish a new investment fund with a total commitment of 500 million yuan, aiming to deepen collaboration in the new materials and new energy sectors [3]