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Tianqi Lithium (002466) investor relations material
Tianqi Lithium H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for 2025 was RMB 10.35 billion, down 20.8% year-over-year; net profit attributable to shareholders was RMB 462.6 million, a turnaround from a RMB 7.9 billion loss in 2024.
Gross margin improved in mining (52.88%) but declined in chemical manufacturing (28.59%) compared to 2024.
Cash flow from operations was RMB 2.96 billion, down 46.7% year-over-year.
Major cost reductions and improved pricing mechanisms contributed to profitability recovery.
Financial highlights
EBITDA margin and interest coverage improved significantly; EBITDA/total debt ratio at 26.27%, interest coverage at 7.29x.
Total assets at year-end were RMB 72.11 billion, up 5% from 2024.
Net assets attributable to shareholders reached RMB 42.36 billion.
Basic and diluted EPS were RMB 0.28, up from -4.82 in 2024.
No cash dividend, bonus shares, or capital increase from reserves for 2025.
Outlook and guidance
Focus on expanding upstream resource security, ramping up new lithium projects, and enhancing global customer base.
Ongoing optimization of cost structure and digital transformation to support long-term growth.
Continued investment in R&D, with emphasis on next-generation battery materials and recycling.
No cash dividend planned; profits to be retained for future investment and growth.
- 2024 saw a sharp revenue drop and net loss amid lithium price declines and market headwinds.002466
Q4 202426 Dec 2025 - Severe H1 loss on lithium price drop and SQM tax hit; liquidity and expansion plans intact.002466
Q2 202426 Dec 2025 - Q3 revenue and profit fell sharply on lower lithium prices, but sales volumes and cost structure improved.002466
Q3 202426 Dec 2025 - Net profit returned to positive as investment income and FX gains offset lower lithium prices.002466
H1 202526 Dec 2025 - Q3 net profit rebounded sharply on improved pricing and investment gains, despite lower revenue.002466
Q3 202529 Oct 2025 - Net profit swung to ¥104 million, with stable revenue and improved cost alignment.002466
Q1 202510 Sep 2025
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