Core Viewpoint - Tianqi Lithium Industries (09696) expects a significant decline in net profit for the fiscal year ending December 31, 2023, with estimates ranging from 6.62 billion to 8.95 billion RMB, representing a decrease of approximately 62.90% to 72.56% compared to the previous year's profit of 24.125 billion RMB [1] Summary by Relevant Sections Financial Performance - The expected net profit attributable to shareholders is projected to be between 6.62 billion and 8.95 billion RMB, down from 24.125 billion RMB in the previous year, indicating a decline of about 62.90% to 72.56% [1] - The net profit after excluding non-recurring gains and losses is anticipated to be between 6.5 billion and 8.82 billion RMB, a decrease of approximately 61.75% to 71.81% from 23.059 billion RMB last year [1] - The basic earnings per share are expected to range from 4.04 RMB to 5.46 RMB, compared to 15.52 RMB per share in the previous year [1] Reasons for Performance Change - The decline in performance is primarily attributed to fluctuations in the lithium chemical product market, leading to a decrease in sales prices and gross margins for lithium chemical products [1] - An increase in the price of lithium concentrate has resulted in higher net profits for the subsidiary Windfield Holdings Pty Ltd, but also led to increased tax expenses and minority shareholder losses [1] - The company has not yet received the fourth-quarter performance report for 2023 from its significant associate, Sociedad Química y Minera de Chile S.A. (SQM), and anticipates a decline in investment income from SQM based on Bloomberg's forecasts [1] - The company lost significant influence over SES Holdings Pte. Ltd due to passive dilution of its stake after SES's listing on the New York Stock Exchange, resulting in a decrease in investment income by approximately 1.2 billion RMB [1] - The company plans to conduct impairment tests on assets showing signs of impairment as of the balance sheet date, with preliminary estimates indicating an increase in impairment losses compared to the previous year [1]
天齐锂业(09696)发盈警 预计年度归母净利润同比下降约62.90%-72.56%至66.2亿-89.5亿元