On July 29, TIANQI LITHIUM rose 3.65% in regular trading, trading at 33.56 HKD/share, with turnover of approximately 53.71 million HKD.
On the news front, Australian miner IGO disclosed on July 28 that the Greenbushes lithium mine CGP3 plant — the world's largest hard-rock lithium mine in which TIANQI LITHIUM holds an equity stake — is expected to resume production within days after approximately seven weeks of downtime following a fire in June. The news alleviated short-term market concerns over lithium concentrate supply disruption, triggering a share price rebound after the stock declined 3.24% in the prior session amid sector-wide weakness driven by oversupply fears.
On the fundamental side, the company forecasts H1 attributable net profit of 2.85 billion to 4.25 billion yuan, representing over 32-fold year-over-year growth, driven by higher average selling prices and a significant increase in investment income from its stake in SQM. The company also recently invested 150 million yuan in Sunwoda Mobility to expand its downstream battery business.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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