Quan Jing Wang·2025-10-30 04:42Core Insights - Tianqi Lithium's Q3 report shows a gross margin increase to 37.57%, with a net profit attributable to shareholders of 95.49 million yuan, representing a 120% year-on-year growth [1] - The company achieved a basic earnings per share of 0.06 yuan for the quarter, and 0.11 yuan for the first three quarters of 2025, marking a 103.16% year-on-year increase [1] - Despite fluctuations in lithium product prices, the company benefited from a shortened pricing cycle for its subsidiary Windfield Holdings and improved pricing mechanisms for its lithium products [1] Industry Overview - The lithium battery sector is experiencing a robust supply-demand dynamic, with domestic new energy electric vehicle sales increasing by 35% year-on-year in the first nine months of 2025, and an expected annual growth rate exceeding 30% [3] - The European market also shows a growth rate of 25%, with significant expansion in the energy storage sector [3] - Domestic battery production reached 186 GWh in October, a 22.4% month-on-month increase, with many leading manufacturers' orders extending into the next year [3] Company Developments - Tianqi Lithium's Jiangsu Zhangjiagang production base has confirmed that its 30,000-ton annual capacity project for battery-grade lithium hydroxide has met technical standards as of October 17, with sales expected to ramp up soon [3] - According to Dongwu Securities, the company possesses excellent resource endowments and significant cost advantages, suggesting further improvements in lithium salt profitability [3]