Tianqi Lithium to Swing to Loss in H1; Shares Up 3%

MT Newswires Live07-10

Tianqi Lithium (HKG:9696, SHE:002466) expects to incur a net loss attributable to shareholders of between 4.88 billion yuan and 5.53 billion yuan in the first half of the year, swinging from the year-ago profit of 6.45 billion yuan, according to the company's filing on the Hong Kong Stock Exchange.

Loss per share is anticipated to be between 2.98 yuan and 3.37 yuan, compared to the earnings per share of 3.93 yuan in the previous year, the Tuesday filing added.

The Chinese lithium miner attributed the forecast to a decline in lithium prices. The company's Chilean associate, Sociedad QuÃmica y Minera de Chile, is not yet submitting its second quarterly results to the parent, affecting the group's earnings report.

Shares of the company rose more than 3% on the Shenzhen bourse.

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