Zhi Tong Cai Jing·2026-01-29 13:52Core Viewpoint - Tianqi Lithium Industries (002466) anticipates a significant turnaround in its financial performance for the year ending December 31, 2025, projecting a net profit attributable to shareholders between RMB 369 million and RMB 553 million, compared to a net loss of approximately RMB 7.905 billion in the previous year [1] Financial Performance - The expected net profit range for 2025 is RMB 369 million to RMB 553 million, a substantial improvement from the previous year's loss of RMB 7.905 billion [1] - The projected net profit after excluding non-recurring gains and losses is estimated to be between RMB 240 million and RMB 360 million, compared to a loss of RMB 7.923 billion in the prior year [1] - Basic earnings per share are expected to be between RMB 0.22 and RMB 0.34, a recovery from a loss of RMB 4.82 per share in the same period last year [1] Market and Operational Factors - The primary reason for the expected performance improvement is the reduced impact of pricing mismatches in lithium product sales, despite a decline in sales prices compared to the previous year [1] - The company has benefited from a shortened pricing cycle for lithium ore from its subsidiary Windfield Holdings Pty Ltd, which has improved the alignment of pricing mechanisms for lithium chemical products [1] - The gradual consumption of inventory lithium ore and the arrival of newly purchased lithium ore are expected to stabilize production costs close to the latest procurement prices [1] Investment and Currency Impact - The company has not yet received the fourth-quarter earnings report for 2025 from its significant associate, Sociedad Química y Minera de Chile S.A. (SQM), but is using Bloomberg's forecasts to estimate investment income from SQM, which is expected to show significant growth [2] - The appreciation of the Australian dollar since 2025 has led to increased foreign exchange gains compared to the previous year [2] - The company plans to conduct impairment tests on assets showing signs of impairment as of the balance sheet date in 2025, with preliminary estimates indicating a reduction in impairment losses compared to 2024 [2]