Tianqi Lithium Industries Inc Class A

002466: XSHE (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	¥74.90	Qcghbmw	Nltpvbcn

Tianqi Earnings: Strong Upstream Mining Growth and Margin Offset Declining Compound Segment

Vincent Sun

Aug 31, 2023

Narrow-moat Tianqi's second-quarter revenue grew 48% year over year to CNY 13.4 billion on a resilient lithium mining segment with revenue growth and margin expansion. However, due to the significant lithium price fall, the compound segment saw drops in both product selling price and revenue. In the second quarter, the average prices of battery-grade lithium carbonate and lithium hydroxide in China slid 46% and 43% year on year, respectively.

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