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Tianqi Lithium Corp. Class H
(9696)
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Rating:61Neutral
Price Target:
HK$25.00
▼(-32.36% Downside)
Action:Reiterated
Date:10/27/26
The score is supported by improving TTM financial performance (strong rebound in profitability and cash flow, manageable leverage) and a relatively low P/E valuation. It is held back meaningfully by weak technicals (price below major moving averages, negative MACD, oversold momentum), and by the company’s high multi-year earnings/cash flow volatility.
Positive Factors
TTM Revenue and Profit Rebound
The latest twelve-month period shows a strong recovery in revenue and profitability, indicating renewed demand and operating leverage across lithium products. If maintained, the improved earnings base can support reinvestment, strengthen financial resilience, and provide a better foundation for growth over the next several quarters.
Negative Factors
High Earnings Cyclicality
The sharp swings between a large loss, modest profitability, and the latest rebound show that earnings power is highly sensitive to lithium-market conditions. Such cyclicality reduces confidence that current margins will persist and can make planning, capital allocation, and shareholder returns less predictable over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
TTM Revenue and Profit Rebound
The latest twelve-month period shows a strong recovery in revenue and profitability, indicating renewed demand and operating leverage across lithium products. If maintained, the improved earnings base can support reinvestment, strengthen financial resilience, and provide a better foundation for growth over the next several quarters.
Read all positive factors
Tianqi Lithium Corp. Class H (9696) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$65.49B
Dividend Yield5.8%
Average Volume (3M)3.14M
Price to Earnings (P/E)9.9
Beta (1Y)1.33
Revenue Growth115.70%
EPS GrowthN/A
CountryHK
Employees3,902
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)3.46
Shares Outstanding236,145,540
10 Day Avg. Volume3,487,130
30 Day Avg. Volume3,135,957
Financial Highlights & Ratios
PEG Ratio-1.55
Price to Book (P/B)1.77
Price to Sales (P/S)7.46
P/FCF Ratio-128.82
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$41.66Price Target Upside12.72% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)4.72
Revenue Forecast (FY)HK$30.33B
Tianqi Lithium Corp. Class H Business Overview & Revenue Model
Company Description
Tianqi Lithium Corporation is a global entity focused on the manufacturing, processing, and distribution of lithium concentrate and a variety of chemical products. The company's operations extend across Australia, Chile, the United Kingdom, and Ch...
How the Company Makes Money
Tianqi Lithium makes money primarily by selling lithium chemical products and, where applicable, through participation in upstream lithium resource operations. Its core revenue model is product-based: it produces lithium compounds (commonly includ...
Tianqi Lithium Corp. Class H Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
74
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.93B | 10.08B | 13.06B | 40.45B | 40.17B | 7.66B |
| Gross Profit | 12.88B | 3.91B | 5.30B | 34.35B | 34.15B | 4.69B |
| EBITDA | 12.98B | 4.40B | 5.65B | 37.66B | 41.46B | 4.64B |
| Net Income | 5.86B | 450.65M | -7.90B | 7.28B | 23.94B | 3.65B |
Balance Sheet | ||||||
| Total Assets | 85.13B | 73.10B | 69.56B | 74.97B | 72.56B | 45.80B |
| Cash, Cash Equivalents and Short-Term Investments | 13.92B | 5.71B | 6.42B | 9.35B | 12.46B | 1.99B |
| Total Debt | 15.67B | 15.49B | 14.92B | 11.76B | 8.71B | 21.81B |
| Total Liabilities | 24.44B | 21.12B | 19.50B | 19.01B | 17.80B | 26.01B |
| Stockholders Equity | 49.13B | 42.38B | 42.77B | 51.52B | 50.16B | 14.36B |
Cash Flow | ||||||
| Free Cash Flow | 4.96B | -583.56M | 1.03B | 18.25B | 18.58B | 1.23B |
| Operating Cash Flow | 7.57B | 2.93B | 5.55B | 22.69B | 20.30B | 2.23B |
| Investing Cash Flow | -2.84B | -4.41B | -5.88B | -2.02B | 744.01M | -65.19M |
| Financing Cash Flow | 1.08B | -417.37M | -3.24B | -23.44B | -10.57B | -1.15B |
Tianqi Lithium Corp. Class H Technical Analysis
Negative
36.96
Price Trends
30.33
Negative
34.05
Negative
42.57
Negative
Market Momentum
-1.86
Negative
29.69
Positive
65.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9696, the sentiment is Negative. The current price of 36.96 is above the 20-day moving average (MA) of 25.48, above the 50-day MA of 30.33, and below the 200-day MA of 42.57, indicating a bearish trend. The MACD of -1.86 indicates Negative momentum. The RSI at 29.69 is Positive, neither overbought nor oversold. The STOCH value of 65.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:9696.
Tianqi Lithium Corp. Class H Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | HK$329.39B | 9.68 | 32.65% | 3.54% | 38.53% | 62.42% | |
68 Neutral | HK$26.31B | 5.34 | 30.91% | 4.12% | 34.76% | 66.30% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | HK$65.49B | 9.94 | 12.64% | 5.80% | 115.70% | ― | |
58 Neutral | HK$2.28B | 5.38 | 11.28% | 2.44% | -32.45% | ― | |
55 Neutral | HK$256.00M | 30.86 | 1.58% | 0.90% | 2.31% | ― | |
39 Underperform | HK$23.72M | -0.05 | -1613.43% | 2.61% | -20.14% | -84.86% |
* Basic Materials Sector Average
HK:9696
Tianqi Lithium Corp. Class H
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Tianqi Lithium Corp. Class H Corporate Events
Tianqi Lithium Posts Surging Profit in Third Quarter 2026
Oct 25, 2026
Tianqi Lithium Corporation is a China-based lithium producer listed in Hong Kong that operates within the new energy materials and battery supply chain sector. The company focuses on lithium resources development, production and sales, supplying k...
Tianqi Lithium projects multi‑billion yuan profit surge on booming lithium demand
Oct 20, 2026
Tianqi Lithium has issued a positive profit alert, forecasting net profit attributable to shareholders of RMB5.1 billion to RMB6.0 billion for the nine months ended 30 September 2026, compared with RMB179.9 million a year earlier. Basic earnings p...
Tianqi Lithium Sets October Board Meeting to Approve Q3 Results
Oct 9, 2026
Tianqi Lithium Corporation has scheduled a board meeting for 23 October 2026 to review and approve its third‑quarter results for the nine months ended 30 September 2026. The board will also consider the publication of these results and atten...
Tianqi Lithium Publishes Unaudited 2026 Interim Results and Sets Report Timeline
Aug 27, 2026
Tianqi Lithium Corporation has released its unaudited consolidated interim results for the six months ended 30 June 2026, fulfilling Hong Kong listing rules on preliminary interim disclosures. The company will distribute the print version of its 2...
Tianqi Lithium Sets Online Briefing to Discuss 2026 Interim Results
Aug 24, 2026
Tianqi Lithium Corporation, a major Chinese lithium producer serving the global new energy and electric vehicle supply chain, is listed in Hong Kong and maintains a broad investor base in regional and international markets. Its leadership team inc...
Tianqi Lithium Cancels Restricted A Shares After Performance Review
Aug 20, 2026
Tianqi Lithium has completed the repurchase and cancellation of 113,113 restricted A shares under its 2024 A Share Restricted Share Incentive Scheme, after performance and employment conditions triggered forfeiture for certain participants. The mo...
Tianqi Lithium Schedules Board Meeting to Approve 2026 Interim Results
Aug 17, 2026
Tianqi Lithium Corporation, a major Chinese lithium producer listed in Hong Kong, operates as a joint stock company supplying lithium products to the global new energy and battery markets. Its board includes both executive and independent non-exec...
Tianqi Lithium Subsidiary Commits RMB150 Million to SEVB Capital Increase
Aug 14, 2026
Tianqi Lithium Corporation has confirmed that its wholly owned subsidiary Shehong Tianqi has formally entered into a capital increase agreement with SEVB, Sunwoda Huizhou and the actual controllers of SEVB, Wang Mingwang and Wang Wei. Under this t...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.