Jing Ji Guan Cha Wang·2026-02-12 11:18Core Viewpoint - Tianqi Lithium Industries (002466) expects a net profit attributable to shareholders of 369 million to 553 million yuan in 2025, marking a turnaround from losses in the previous year. The company is simultaneously advancing H-share placement financing and equity disposal plans to optimize asset liquidity [1][2]. Performance and Operating Conditions - The company disclosed its earnings forecast on January 30, 2026, projecting a net profit attributable to shareholders of 369 million to 553 million yuan for 2025, a significant improvement driven by the optimization of lithium ore pricing cycles and increased investment income from SQM [2]. Recent Events - On January 27, 2026, the Chilean Supreme Court made a final ruling rejecting Tianqi Lithium's appeal, which will change the control of SQM's collaboration with the Chilean National Copper Company starting in 2031. This may have long-term implications for Tianqi Lithium's investment returns and asset impairment risks as the second-largest shareholder of SQM [3]. Capital Increase and Financing - On February 3, 2026, the company announced plans to place H-shares at 45.05 HKD per share and issue 2.6 billion yuan in zero-coupon convertible bonds, aiming to raise a net amount of approximately 5.829 billion HKD. The funds will be used for lithium resource acquisitions, project development, and working capital supplementation [4]. Company Status - On February 4, 2026, the company announced plans to selectively dispose of part of its holdings in Zhongxin Innovation and SQM to enhance asset liquidity, aligning with its financing strategy. Additionally, the company continues to invest in new lithium battery technologies, such as all-solid-state battery materials, and participates in industry conferences [5].