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Benefiting from a sharp rise in lithium product sales prices, Tianqi Lithium Corporation (SZSE: 002466) saw its net profit increase more than 30-fold in the first three quarters.
Regarding its high earnings growth, Tianqi Lithium stated that it was mainly driven by multiple favorable factors, including the development of the new energy industry and growing downstream demand. During the reporting period, the average selling price of the company's main lithium products increased significantly year-on-year, leading to substantial growth in operating revenue and gross profit.
Shanghai, October 26 (Reported by Li Shaopeng) 鈥?Tianqi Lithium Corporation (SZSE: 002466) released its 2026 third-quarter report on the evening of October 25, showing that the company achieved operating revenue of 18.279 billion yuan in the first three quarters, a year-on-year increase of 147.11%, and a net profit attributable to shareholders of 5.602 billion yuan, a year-on-year increase of 3,013.86%. In the third quarter alone, the company recorded operating revenue of 6.037 billion yuan, up 135.4% year-on-year, and a net profit attributable to shareholders of 1.36 billion yuan, up 1,323.97% year-on-year.
Regarding its high earnings growth, Tianqi Lithium Corporation (SZSE: 002466) stated that it was primarily driven by multiple favorable factors, including the development of the new energy industry and growing downstream demand. During the reporting period, the average selling price of the company's main lithium products increased notably year-on-year, resulting in substantial growth in operating revenue and gross profit.
Although Tianqi Lithium Corporation (SZSE: 002466) did not disclose lithium carbonate production and sales data in its third-quarter report, based on the average selling price of 146,600 yuan per tonne disclosed in Zangge Mining's third-quarter report and Tianqi Lithium Corporation (SZSE: 002466)'s first three quarters performance, industry players appear to have seized this round of price increases on the sales side.
As a leading company in the industry, Tianqi Lithium Corporation (SZSE: 002466)'s abundant resource reserves also provide room for future development. In terms of core capacity construction, the Greenbushes lithium mine in Australia has made impressive progress. It is understood that the Greenbushes spodumene mine, controlled by the company, is the world's largest hard-rock lithium mine by output, producing 1.353 million tonnes of lithium concentrate in 2025, accounting for 18.9% of global hard-rock lithium mine output. The company recently stated that Talison's Chemical Grade Plant 3 (CGP3) was completed and commissioned in December 2025, with qualified products produced in January this year. Total lithium concentrate capacity will rise to 2.14 million tonnes per year, with capacity ramp-up planned for completion within 2026.
Furthermore, Tianqi Lithium Corporation (SZSE: 002466)'s domestic resource layout is accelerating, with a key breakthrough at the Yajiang Cuola lithium mine in Sichuan. The project is located in Asia's largest pegmatite-type spodumene mining area, with resources of approximately 632,400 tonnes of lithium carbonate equivalent and a grade of 1.30%. According to the company, the project completed resource expansion exploration, joint venture establishment, and auxiliary facility improvements in 2025. Preliminary design for the mining and beneficiation engineering has now been advanced. In the future, it will form a dual resource guarantee with Greenbushes both domestically and internationally, enhancing supply chain security.
In terms of the shareholder list, Tianqi Lithium Corporation (SZSE: 002466)'s third-quarter report shows that National Social Security Fund Portfolio 412 newly entered the top ten shareholders, holding 4.5264 million shares and ranking as the ninth-largest shareholder. ICBC-Nanfang CSI Shenwan Non-Ferrous Metals Exchange-Traded Open-End Index Securities Investment Fund purchased 1.1885 million shares of the company in the third quarter, raising its shareholding ratio from 0.63% at the end of the second quarter to 0.70%, continuing to rank as the fifth-largest shareholder. In addition, the fourth-largest shareholder, Hong Kong Central Clearing Limited, sold 8.9566 million shares of Tianqi Lithium Corporation (SZSE: 002466) in the third quarter, reducing its shareholding ratio from 3.96% at the end of the second quarter to 3.44%.
Editor: Guo Zhouyang
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