Comparison of customer concentration between Tianqi Lithium and Ganfeng Lithium

Tianqi Lithium has a high customer concentration in 2023, with sales to its largest customer, Albemarle Corporation, accounting for more than 60% of its annual sales. In contrast, Ganfeng Lithium's customers are relatively scattered, with sales to its top five customers accounting for only 40% of its overall sales in 2023.