Tianqi Lithium reported after market close on October 25 that nine-month revenue reached 18.279 billion yuan, up 147.11% year on year, with attributable net profit of 5.602 billion yuan — a surge of 3,013.86% — while third-quarter revenue was 6.037 billion yuan (+135.4%) and net profit 1.36 billion yuan (+1,323.97%), Shanghai Securities News reported.
The company attributed the jump to higher average selling prices for lithium products and increased investment income from associate SQM. It added that its Talison CGP3 project produced qualified product in January, lifting total lithium-concentrate capacity toward 2.14 million tonnes per year, and that its Yajiang Cuola mine holds about 632,400 tonnes of LCE resources.
The result is among the most direct reads on the lithium price up-cycle: after a prolonged downturn, recovering lithium prices have sharply improved margins for upstream producers. Battery-grade lithium carbonate spot prices hovered around 97,000–103,000 yuan per tonne in the latest week, down roughly 6.9% week on week, reflecting still-volatile conditions.
Analysts say the earnings highlight how the upstream is capturing value as NEV and storage demand stays robust, though price swings remain a key risk.
Source: Shanghai Securities News / China Economic Net
