起点锂电·2025-06-18 10:18Core Viewpoint - The collaboration between Tianqi Lithium and CATL aims to accelerate the development of local lithium mining projects, enhancing resource complementarity and market competitiveness in the lithium industry [2][3]. Group 1: Company Collaborations - Tianqi Lithium's subsidiary and CATL's subsidiary established two new companies, Sichuan Muyunze Mining Co., Ltd. and Sichuan Miaowei Water Co., Ltd., focusing on mineral processing and water supply [2]. - The registered capital of Muyunze Mining is 500 million RMB, located in Ganzi Tibetan Autonomous Prefecture, Sichuan Province, with a focus on mineral processing and environmental monitoring [2]. - The ownership structure of Muyunze Mining shows Tianqi Lithium holding 60% and CATL holding 40% [2]. Group 2: Resource Development - The new mining company is strategically located near the Tso La mine, part of Asia's largest hard rock lithium deposit, with significant resource potential in the "West Kunlun-Songpan-Ganzi" mineralization belt [3]. - The Tso La mine is expected to become Tianqi Lithium's first domestic source of lithium concentrate, with ongoing feasibility studies and project advancements [3]. Group 3: Market Position and Performance - In 2024, Tianqi Lithium reported a revenue of 13.063 billion RMB, a decrease of 67.75% year-on-year, and a net profit loss of 7.905 billion RMB, marking a significant decline in performance [6]. - The first quarter of 2025 showed signs of recovery with a net profit of 104 million RMB, a substantial improvement from a loss of 3.897 billion RMB in the same period last year [7]. - Tianqi Lithium is facing external pressures from resource nationalization policies in major lithium-producing countries, prompting a focus on domestic mining and resource control [7][9]. Group 4: Strategic Investments - CATL is diversifying its lithium resource portfolio both domestically and internationally, with interests in various lithium mines across China and the "Lithium Triangle" in South America [4]. - Tianqi Lithium is also increasing its capital investment to strengthen control over existing resources and explore new lithium production areas [9].