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The latest update is out from Tianqi Lithium Corp. Class H ( (HK:9696) ).
Tianqi Lithium Corporation announced an asset impairment related to its lithium hydroxide projects in Australia, with an estimated provision of approximately RMB2.163 billion for 2024. This financial adjustment reflects ongoing challenges, including high production costs during the ramp-up phase and lower market prices for lithium hydroxide, impacting the company’s financial positioning and necessitating further asset evaluations.
More about Tianqi Lithium Corp. Class H
Tianqi Lithium Corporation is a Chinese company focused on the lithium industry, primarily producing battery-grade lithium hydroxide. The company has expanded its operations with significant projects in Australia, aiming to supply the growing demand for lithium in various technological applications.
YTD Price Performance: -0.83%
Average Trading Volume: 1,923,853
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$54.64B
For an in-depth examination of 9696 stock, go to TipRanks’ Stock Analysis page.
