Tianqi Lithium expects losses of 3.6 billion to 4.3 billion in the first quarter of 2024

Lithium mining giant Tianqi Lithium released its earnings forecast, predicting a net loss of 3.6 billion to 4.3 billion yuan in the first quarter of 2024, compared with a profit in the same period last year. The main reasons include the decline in lithium prices and the decline in performance of its equity-holding company SQM. In addition, SQM may reduce its net profit by about US$1.1 billion in the first quarter due to tax issues, and Tianqi Lithium's net profit will be reduced by about 1.768 billion yuan.