Tianqi Lithium Corporation (SEHK: 09696) shares rose more than 3% after its earnings release, gaining 2.5% as of press time to HK$24.56, with turnover of HK$45.3129 million.
On the news front, Tianqi Lithium Corporation released its results for the first three quarters of 2026, with operating revenue of RMB 18.279 billion, up 147.11% year-on-year; net profit attributable to shareholders of the listed company of RMB 5.602 billion, up 3,013.86% year-on-year; net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses of RMB 5.533 billion, up 7,663.29% year-on-year; and basic earnings per share of RMB 3.30.
The announcement stated that the increase in operating revenue was mainly due to the rise in the average selling price of the company's lithium products and the increase in sales volume of lithium compounds and derivatives compared with the same period last year.
The main reasons for the growth in net profit attributable to shareholders were: driven by multiple favorable factors including the development of the new energy industry and growing downstream demand, the average selling prices of the company's main lithium products rose notably year-on-year during the reporting period, resulting in a substantial year-on-year increase in operating revenue and gross profit; according to Bloomberg consensus forecast data, SQM's third-quarter 2026 results are expected to grow significantly year-on-year, so the company's investment income recognized from this associate during the reporting period increased compared with the same period last year.
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