Tianqi Lithium Corporation (ASX: TLC) shares rose nearly 3% in Hong Kong trading, last up 1.82% at HK$33.54 with turnover of HK$71.69 million.
On July 24, the company announced that its wholly-owned subsidiary, Shehong Tianqi, plans to subscribe for newly issued shares in Sunwoda Electronic Co., Ltd. (target company). The proposed investment amounts to RMB 150 million in cash, acquiring 7,921,810.6 new shares. Another investor, Sungrow Power Supply Co., Ltd., plans to subscribe for 34,591,906.4 new shares as part of the same capital increase.
In a separate update, Tianqi Lithium previously issued a positive profit alert for the first half of 2026. The group expects to report net profit attributable to shareholders of approximately RMB 2.85 billion to RMB 4.25 billion (unaudited) for the period, compared with RMB 84.41 million in the same period of 2025. Core profit, excluding non-recurring items, is forecast at RMB 2.81 billion to RMB 4.2 billion (unaudited), versus RMB 1.32 million a year earlier.
The company attributed the strong performance to the development of the new energy industry and robust downstream demand, which drove significantly higher average selling prices for its main lithium products compared to the prior year.
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