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Tianqi Lithium Corp. Class H
(9696)
Tianqi Lithium Corp. Class H (9696) vs. iShares MSCI Hong Kong ETF (EWH)
Tianqi Lithium Corp. Class H Business Overview & Revenue Model
Tianqi Lithium Corp. Class H Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.40B | 13.06B | 40.45B | 40.17B | 7.66B | 3.22B |
| Gross Profit | 3.05B | 5.30B | 34.35B | 34.15B | 4.69B | 1.33B |
| EBITDA | 3.12B | 5.44B | 37.66B | 41.46B | 4.59B | 1.16B |
| Net Income | -2.02B | -7.90B | 7.28B | 23.94B | 3.65B | -1.83B |
Balance Sheet | ||||||
| Total Assets | 73.95B | 69.56B | 74.97B | 72.56B | 45.80B | 42.29B |
| Cash, Cash Equivalents and Short-Term Investments | 8.05B | 6.42B | 9.35B | 12.46B | 1.99B | 994.15M |
| Total Debt | 17.37B | 14.92B | 11.76B | 8.71B | 21.81B | 30.44B |
| Total Liabilities | 22.56B | 19.50B | 19.01B | 17.80B | 26.01B | 34.86B |
| Stockholders Equity | 42.40B | 42.77B | 51.52B | 50.16B | 14.36B | 5.20B |
Cash Flow | ||||||
| Free Cash Flow | 245.37M | 1.03B | 18.25B | 18.58B | 1.23B | -47.11M |
| Operating Cash Flow | 3.61B | 5.55B | 22.69B | 20.30B | 2.23B | 915.75M |
| Investing Cash Flow | -4.43B | -5.88B | -2.02B | 744.01M | -65.19M | -520.49M |
| Financing Cash Flow | 1.08B | -3.24B | -23.44B | -10.57B | -1.15B | -3.51B |
Tianqi Lithium Corp. Class H Technical Analysis
Tianqi Lithium Corp. Class H Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | HK$39.21B | 13.91 | 24.57% | 1.89% | 60.77% | 100.45% | |
70 Outperform | HK$565.27B | 22.56 | 27.23% | 1.45% | -2.42% | 38.68% | |
70 Outperform | HK$55.10B | 54.44 | 36.46% | 1.32% | 31.24% | 58.16% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
52 Neutral | HK$98.73B | -37.03 | -4.63% | 2.80% | -39.59% | 69.00% |
Tianqi Lithium Corp. Class H Corporate Events
Tianqi Lithium has issued a positive profit alert for the year ending 31 December 2025, forecasting a swing back to net profit of between RMB369 million and RMB553 million, compared with a net loss of about RMB7.9 billion a year earlier, and estimating basic earnings per share at RMB0.22–0.34 versus a substantial loss per share previously. Management attributes the turnaround to a mitigation of earlier pricing-cycle mismatches between its lithium concentrate inputs and lithium chemical product sales, stronger expected investment income from its associate SQM, foreign-exchange gains driven by a stronger Australian dollar, and lower anticipated asset-impairment charges relative to 2024, signaling a marked recovery in operating performance despite ongoing volatility in lithium product prices.
The most recent analyst rating on (HK:9696) stock is a Hold with a HK$58.00 price target. To see the full list of analyst forecasts on Tianqi Lithium Corp. Class H stock, see the HK:9696 Stock Forecast page.
Tianqi Lithium said its wholly owned subsidiary Tianqi Chile has lost its bid before Chile’s Supreme Court to overturn a key partnership agreement between its major investee SQM and Chilean state-owned miner Codelco, with the court issuing a final judgment dismissing the claim of illegality. While the ruling clears the way for the SQM–Codelco partnership to take effect—extending SQM’s Atacama lithium mining rights to 2060 and increasing production quotas before 2030—the structure will ultimately shift control of SQM’s core Chilean lithium business to a Codelco-majority joint venture from 2031, which may alter SQM’s strategic direction and could pressure Tianqi’s long‑term returns from its SQM stake; however, Tianqi currently does not expect a material short-term profit impact and will continue dynamic impairment assessments and monitoring of associated operational and earnings risks.
The most recent analyst rating on (HK:9696) stock is a Hold with a HK$58.00 price target. To see the full list of analyst forecasts on Tianqi Lithium Corp. Class H stock, see the HK:9696 Stock Forecast page.
Tianqi Lithium Corporation reported the poll results of its extraordinary general meeting held on 30 December 2025 in Chengdu, where shareholders representing about 34.6% of voting shares were present or represented. All proposed special and ordinary resolutions were duly passed with overwhelming majorities, including a reduction of the company’s registered share capital, amendments to the Articles of Association, and revisions to procedural rules governing shareholders’ meetings, the board of directors, independent directors, director remuneration, accounting firm engagement, and related-party transaction decision-making. The approval of these measures signals a broad shareholder endorsement of Tianqi Lithium’s efforts to refine its capital structure and strengthen its corporate governance framework, which may enhance governance transparency, operational oversight and alignment of management incentives with shareholder interests.
The most recent analyst rating on (HK:9696) stock is a Hold with a HK$49.00 price target. To see the full list of analyst forecasts on Tianqi Lithium Corp. Class H stock, see the HK:9696 Stock Forecast page.
Tianqi Lithium Corporation has set an annual cap of up to 950,000 tons for transactions in 2026 under its long-standing Albemarle Agreements, which govern lithium concentrate sales from the Greenbushes Mine to Albemarle Germany, an associate and connected person at the subsidiary level. The cap, based on current production capacity, recent expansions such as the Chemical-Grade Plant No. 3, expected ramp-up, and Albemarle Germany’s projected procurement, represents a ceiling for potential transaction volume rather than a forecast of actual production or sales. The board, including independent non-executive directors, has confirmed that the transactions are on normal commercial terms, in the ordinary course of business, and in the interests of the company and shareholders, meaning the 2026 cap will be subject only to reporting, announcement and annual review requirements under Hong Kong Listing Rules, without the need for a circular, independent financial adviser’s opinion or independent shareholders’ approval.
The most recent analyst rating on (HK:9696) stock is a Hold with a HK$49.00 price target. To see the full list of analyst forecasts on Tianqi Lithium Corp. Class H stock, see the HK:9696 Stock Forecast page.
Tianqi Lithium Corporation has announced the resignation of executive director, vice general manager and chief financial officer Zou Jun, who is stepping down for personal career planning reasons after joining the company in 2007. The board stated that his departure will not affect its ability to operate or the company’s normal business, and noted that his shareholdings will continue to be handled in line with Chinese securities regulations. To ensure continuity in financial oversight, the board has appointed Zhu Hui as vice general manager and person in charge of finance, effective immediately for the remainder of the current board term; Zhu brings extensive prior CFO and international financial management experience from roles at Dalian Rongke Power Storage Group, Goldwind, Dahua Technology and ZTE, underscoring Tianqi Lithium’s focus on maintaining strong financial governance during a senior leadership transition.
The most recent analyst rating on (HK:9696) stock is a Hold with a HK$49.00 price target. To see the full list of analyst forecasts on Tianqi Lithium Corp. Class H stock, see the HK:9696 Stock Forecast page.
Tianqi Lithium Corporation has disclosed the current composition of its board of directors and outlined the allocation of responsibilities across its five key board committees, signalling an emphasis on structured governance and oversight as it navigates the global lithium market. The board is led by Honorary Chairman and Executive Director Jiang Weiping and Chairlady and Executive Director Jiang Anqi, with President Frank Chun Shing Ha also serving as an executive director, alongside four independent non-executive directors who chair and populate the Strategy and Investment, Audit and Risk, Nomination and Governance, Remuneration and Appraisal, and ESG and Sustainable Development committees, underscoring the company’s focus on risk management, sustainability and long-term strategic planning for stakeholders.
The most recent analyst rating on (HK:9696) stock is a Hold with a HK$49.00 price target. To see the full list of analyst forecasts on Tianqi Lithium Corp. Class H stock, see the HK:9696 Stock Forecast page.
Tianqi Lithium has reported that its major investee SQM has completed the strategic partnership merger with Chile’s state-owned Codelco, renaming the joint venture SQM Salar as Nova Andino Litio SpA and putting into effect new share preference and dividend rights from 1 January 2025, although the transaction remains subject to a resolutory condition tied to a pending Supreme Court appeal filed by Tianqi’s wholly owned subsidiary in Chile. The company said the new partnership framework is expected to affect the investment income and dividend entitlements derived from its SQM stake once reflected in SQM’s 2025 financial statements, but it currently cannot quantify the impact, maintains that its existing impairment assumptions and equity-accounting treatment for SQM remain unchanged, and warned that failure of the transaction and a lack of new quotas could severely curtail SQM’s Atacama lithium operations and negatively affect Tianqi’s returns, prompting it to closely monitor developments and adjust risk controls to protect shareholders’ interests.
The most recent analyst rating on (HK:9696) stock is a Hold with a HK$49.00 price target. To see the full list of analyst forecasts on Tianqi Lithium Corp. Class H stock, see the HK:9696 Stock Forecast page.
Tianqi Lithium Corporation has established an ESG and Sustainable Development Committee to enhance its corporate governance and improve ESG performance. This committee is tasked with formulating strategic plans, identifying ESG-related risks, and coordinating management efforts to align with industry standards, thereby strengthening the company’s sustainable development capabilities.
The most recent analyst rating on (HK:9696) stock is a Sell with a HK$24.50 price target. To see the full list of analyst forecasts on Tianqi Lithium Corp. Class H stock, see the HK:9696 Stock Forecast page.
Tianqi Lithium Corporation has established a Strategy and Investment Committee to enhance its strategic planning and decision-making processes. This committee is tasked with researching and recommending mid-to-long-term strategic goals, industrial development plans, and major investment decisions, thereby strengthening the company’s sustainable development capabilities and ensuring alignment with its growth objectives.
The most recent analyst rating on (HK:9696) stock is a Sell with a HK$24.50 price target. To see the full list of analyst forecasts on Tianqi Lithium Corp. Class H stock, see the HK:9696 Stock Forecast page.
Tianqi Lithium Corporation has established a Remuneration and Appraisal Committee to enhance its performance appraisal and remuneration management system for directors and senior management. This committee is tasked with formulating appraisal standards and reviewing remuneration policies, ensuring alignment with corporate governance standards and listing rules. The committee’s establishment is expected to improve the company’s incentive mechanisms and operational efficiency, potentially impacting its market positioning positively by aligning management incentives with shareholder interests.
The most recent analyst rating on (HK:9696) stock is a Sell with a HK$24.50 price target. To see the full list of analyst forecasts on Tianqi Lithium Corp. Class H stock, see the HK:9696 Stock Forecast page.
Tianqi Lithium Corporation has established a Nomination and Governance Committee to enhance its board’s election process and corporate governance structure. This move aims to optimize board composition and improve governance, potentially strengthening the company’s industry position and stakeholder confidence.
The most recent analyst rating on (HK:9696) stock is a Sell with a HK$24.50 price target. To see the full list of analyst forecasts on Tianqi Lithium Corp. Class H stock, see the HK:9696 Stock Forecast page.
Tianqi Lithium Corporation has established an Audit and Risk Committee to enhance its corporate governance and risk management capabilities. This committee is tasked with overseeing financial disclosures, internal and external audits, and ensuring effective supervision of senior management. The formation of this committee is expected to strengthen the company’s decision-making processes and improve its risk identification and prevention strategies, thereby potentially enhancing its industry positioning and stakeholder confidence.
The most recent analyst rating on (HK:9696) stock is a Sell with a HK$24.50 price target. To see the full list of analyst forecasts on Tianqi Lithium Corp. Class H stock, see the HK:9696 Stock Forecast page.
Tianqi Lithium Corporation has announced its proposal to register and issue debt financing instruments in the People’s Republic of China, with a total amount not exceeding RMB6 billion. This initiative aims to optimize the company’s debt structure, enhance cash flow stability, and support its operational and capital needs. The issuance will be conducted in tranches based on actual funding requirements and market conditions, with proceeds used for working capital, debt repayment, and other lawful purposes. The proposal is subject to shareholder approval at an upcoming extraordinary general meeting.
The most recent analyst rating on (HK:9696) stock is a Sell with a HK$24.50 price target. To see the full list of analyst forecasts on Tianqi Lithium Corp. Class H stock, see the HK:9696 Stock Forecast page.
Tianqi Lithium Corporation announced a change in its joint company secretary and authorized representative roles, effective December 8, 2025. Ms. Wong Hoi Ting has resigned from these positions due to other work arrangements, and Ms. Li Ka Wai has been appointed as her successor. Mr. Zhang Wenyu will continue to serve as the other joint company secretary and has been appointed as the alternate authorized representative. The company expressed gratitude to Ms. Wong for her contributions and welcomed Ms. Li to her new role. This change is part of the company’s ongoing efforts to maintain effective corporate governance and compliance.
The most recent analyst rating on (HK:9696) stock is a Sell with a HK$24.50 price target. To see the full list of analyst forecasts on Tianqi Lithium Corp. Class H stock, see the HK:9696 Stock Forecast page.
Tianqi Lithium Corporation has announced a proposal to reduce its registered share capital and amend its Articles of Association. This move involves the cancellation of 26,600 repurchased shares, reducing the total share capital, and updating the Articles of Association to align with regulatory requirements and improve corporate governance. The changes include eliminating the Board of Supervisors, with its functions transferred to the Audit and Risk Committee, subject to shareholder approval at an extraordinary general meeting.
The most recent analyst rating on (HK:9696) stock is a Sell with a HK$24.50 price target. To see the full list of analyst forecasts on Tianqi Lithium Corp. Class H stock, see the HK:9696 Stock Forecast page.
Tianqi Lithium Corporation has announced an extraordinary general meeting scheduled for December 30, 2025, to discuss and approve several key resolutions. These include the reduction of registered share capital, amendments to various corporate governance policies, and the proposal to apply for registration and issuance of debt financing instruments. The resolutions aim to enhance the company’s operational efficiency and financial management, potentially impacting its market positioning and stakeholder interests.
The most recent analyst rating on (HK:9696) stock is a Sell with a HK$24.50 price target. To see the full list of analyst forecasts on Tianqi Lithium Corp. Class H stock, see the HK:9696 Stock Forecast page.
Tianqi Lithium Corporation’s wholly-owned subsidiary, Tianqi Chile, has filed an appeal with the Supreme Court of Chile following the dismissal of its claim of illegality by a lower court. The appeal, which does not involve any specific monetary amount, is not expected to materially impact the company’s profits. The company is closely monitoring the situation and assessing potential financial impacts. Additionally, the partnership agreement between SQM and Codelco may affect Tianqi’s investment returns, as SQM’s control over its core lithium operations in Atacama, Chile is expected to change, potentially impacting the company’s rights and interests as a major shareholder.
The most recent analyst rating on (HK:9696) stock is a Hold with a HK$48.00 price target. To see the full list of analyst forecasts on Tianqi Lithium Corp. Class H stock, see the HK:9696 Stock Forecast page.
Tianqi Lithium Corporation’s wholly-owned subsidiary, Tianqi Chile, recently faced a legal setback as its claim of illegality against a decision by the CMF was dismissed by a Chilean court. This decision, related to a partnership agreement between SQM and Codelco, does not impact Tianqi’s current financial assumptions or profits. However, the partnership may alter SQM’s control over its lithium operations in Chile, potentially affecting Tianqi’s investment returns and dividends. The company plans to continue monitoring the situation and may take further legal action to protect its interests.
The most recent analyst rating on (HK:9696) stock is a Buy with a HK$41.00 price target. To see the full list of analyst forecasts on Tianqi Lithium Corp. Class H stock, see the HK:9696 Stock Forecast page.
Tianqi Lithium Corporation’s third quarterly report for 2025 reveals a significant decrease in operating income by 29.66% compared to the same period last year, while net profit attributable to shareholders increased by 119.26%. Despite the drop in operating income, the company has managed to improve its profitability, indicating effective cost management or operational efficiency improvements, which may positively impact its market positioning and stakeholder confidence.
The most recent analyst rating on (HK:9696) stock is a Hold with a HK$42.00 price target. To see the full list of analyst forecasts on Tianqi Lithium Corp. Class H stock, see the HK:9696 Stock Forecast page.