Group 1: Company Performance - Ganfeng Lithium is expected to report a net loss of 300 million to 550 million yuan for the first half of 2025, a decrease from a loss of 760 million yuan in the same period last year, indicating a narrowing of losses year-on-year [1] - Tianqi Lithium is projected to achieve a net profit of 0 to 155 million yuan for the first half of 2025, a significant improvement from a loss of 5.006 billion yuan in the previous year, indicating a turnaround to profitability [1][2] Group 2: Business Operations - Tianqi Lithium is involved in the production, processing, and sales of lithium concentrate and lithium chemical products, with significant control over the Greenbushes lithium spodumene mine, which accounts for 30% of global hard rock lithium production in 2023 [2] - The pricing mechanism for Tianqi Lithium's chemical-grade lithium concentrate will be updated to reflect the average monthly prices from four major pricing agencies, aligning procurement costs more closely with market prices [3] Group 3: Investment and Financial Impact - Ganfeng Lithium's increased losses are attributed to significant non-recurring gains, including investment income from the disposal of energy storage projects and other equity stakes, despite a decline in lithium salt and battery product sales prices [6][7] - Tianqi Lithium anticipates an increase in investment income due to the expected growth in performance from its joint venture SQM in the first half of 2025 [5]