天力锂能：预计2025年减亏幅度超50%

Core Viewpoint - Tianli Lithium Energy (301152) forecasts a net loss for 2025, with expected losses narrowing compared to the previous year, primarily due to price fluctuations in lithium carbonate and adjustments in the lithium iron phosphate industry [1] Financial Performance - The net profit attributable to shareholders is projected to be between -150 million to -200 million yuan, compared to -429 million yuan in the same period last year, representing a year-on-year reduction in losses of 53.37% to 65.03% [1] - The net profit after deducting non-recurring gains and losses is expected to be between -154 million to -204 million yuan, down from -428 million yuan last year, indicating a year-on-year reduction in losses of 52.34% to 64.02% [1] Operational Challenges - The company faces challenges such as insufficient operating rates of some production lines and low capacity utilization, leading to higher fixed costs per unit [1] - The company has made provisions for asset impairment according to accounting standards, which has impacted current profits [1] Positive Developments - Despite the losses, the company has achieved a reduction in loss scale due to two main factors: 1. The company's position and technological breakthroughs in the niche market of new energy cathode materials, leading to successful product transformations and increased sales in high-nickel materials and single-crystal high-voltage materials [1] 2. Implementation of a centralized procurement model, which has effectively reduced the cost of raw materials and improved production efficiency, positively impacting profits [1]