Tianqi Lithium Shares Extend Gains with Over 5% Rise Following Stellar Q1 Profit Surge

Stock News10:10

Tianqi Lithium (09696) climbed more than 5% in Hong Kong trading, extending recent gains. At the time of writing, the stock was up 5.5% to HKD 61.4, with a turnover of HKD 227 million. The rally follows the company's release of its first-quarter results, which showed significant growth. Revenue for the period reached RMB 5.128 billion, a 98.44% increase year-over-year. Net profit attributable to shareholders surged dramatically by 1,699.12% to RMB 1.876 billion.

The substantial growth in revenue and gross profit was primarily driven by a significant year-over-year increase in the average selling price of the company's key lithium products. Furthermore, SQM is projected to report a substantial year-over-year increase in its first-quarter performance, leading to a corresponding rise in the investment income recognized by Tianqi Lithium.

In related news, Australian firm IGO has lowered its production guidance for the Greenbushes lithium mine for fiscal year 2026. According to an analysis by Founder Securities, this adjustment is expected to result in a reduction of 125,000 to 225,000 tonnes of lithium concentrate from the Greenbushes mine, equivalent to approximately 16,000 to 28,000 tonnes of lithium carbonate equivalent (LCE). IGO's revised production guidance applies to FY26, covering the period from the third quarter of 2025 to the second quarter of 2026, indicating that the impact of the production decline will persist into the second quarter of 2026.

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