Shares of Tianqi Lithium, a Chinese lithium products maker, soared 9.8% on Thursday, October 25, 2024, in Hong Kong trading. The stock's strong performance came as the company reported a quarter-on-quarter decrease in losses for the second and third quarters of 2024, driven by lower production costs.
Despite the narrowing losses, Tianqi Lithium expects to record a net loss in the range of 320 million to 640 million yuan ($45 million to $90 million) for the third quarter, compared to a net profit of 1.65 billion yuan a year ago. This anticipated loss is attributed to falling prices of lithium products.
However, the company's production and sales volume of lithium compounds and derivatives saw year-on-year and quarter-on-quarter growth, respectively, in the first three quarters and the third quarter of 2024. This increase in production and sales volumes likely contributed to the stock's rally, as investors reacted positively to the company's operational performance.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。