Tianqi Lithium (HKG:9696, SHE:002466) expects a net loss attributable to the shareholders of about 5.45 billion yuan to 5.85 billion yuan for the nine months ended Sept. 30, reversing a net profit of 8.09 billion yuan in the year-ago period.
The lithium producer attributed the downbeat forecast to volatility in the lithium market, leading to lower sales and decreased returns anticipated from investment in Sociedad Química y Minera de Chile (SQM), according to a Thursday filing on the Hong Kong bourse.
Hong Kong-listed shares of the company rose over 9% in recent trade.
Price (HKD): $27.30, Change: $+2.3, Percent Change: +9.20%
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