Tianqi Lithium announces its 2021 Q3 results.
Financial Results for 9M ended September 30, 2021
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Net profit attributable to shareholders 530 million RMB, +148.02% YOY. The main reasons of increase are:
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· the increase in the sales volume and average selling prices of lithium compounds.
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· completion of the IGO transaction. We repaid the syndicated loan of $1.2 billion and its corresponding interest through this transaction.
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· significant increase in our investment income from SQM compared with the same period of the previous year.
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Gross profit margin 53.28%, +9.10% YOY
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Profit before interest and taxes 2.303 billion RMB, +146.59% YOY
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Net cash flow from operating activities 1.38 billion RMB, +107.47% YOY
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Total assets 42.655 billion RMB, +1.47% YOY
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Net assets attributable to the parent 13.201 billion yuan, +153.57% YOY
Important Events
· We started the preparation work of H-share listing.
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· We completed the IGO transaction and formed a strategic partnership with IGO to grow a leading global lithium business.
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· The commissioning of Kwinana train I is progressing smoothly as planned.
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· XTC New Energy Successfully Completed IPO.
