Tianqi shares' lithium battery recycling business will lose money in 2023

Tianqi shares' lithium battery recycling business revenue in 2023 was 1.03 billion yuan, but the gross profit margin was -9.90%, indicating a loss. Its core subsidiary Jiangxi Tianqi Jintaige Cobalt Co., Ltd. had an operating income of 917 million yuan in 2023, but a net profit loss of 307 million yuan. At present, the company has built and put into production a 100,000-ton waste lithium battery processing scale, and is expanding its 100,000-ton iron-lithium recycling and processing capacity.