By Jason Chau
Shares of Chinese mining major Tianqi Lithium surged after the company guided for significantly higher first-quarter earnings.
Tianqi Lithium's shares rose more than 10% in Hong Kong on Tuesday morning before trimming gains, while its Shenzhen-listed shares climbed as much as 9.7%. Hong Kong-listed shares were recently 2.5% while shares in Shenzhen were trading 4.9% higher.
The company reported net profit of 104.27 million yuan, equivalent to $15.3 million, in the first quarter of 2025 and revenue of 2.58 billion yuan.
The company said in a filing Monday that net profit for the three months ended March is estimated to have increased 16 to 19 times from a year earlier. Revenue is also projected to have climbed significantly, driven by an expansion in the new energy sector and stronger downstream demand, which lifted average selling prices for its key lithium products.
Tianqi Lithium is primarily engaged in the extraction and processing of hard-rock lithium resources, with mining operations and investments spanning China, Australia and Chile. Its lithium chemical products are essential for the adoption of renewable energy and are used widely in batteries, energy storage systems, electric vehicles and electric ships.
Chinese renewable energy companies are seen as beneficiaries of the war in Iran as nations look to reduce reliance on fossil fuel imports from conflict-prone regions to enhance energy security.
China is the world's largest producer of renewable energy equipment and a leading processor of the minerals used to manufacture them.
Write to Jason Chau at jason.chau@wsj.com
(END) Dow Jones Newswires
April 20, 2026 23:57 ET (03:57 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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