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Tianqi Lithium Corp. Class H
(9696)
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Rating:61Neutral
Price Target:
HK$34.00
▼(-8.01% Downside)
Action:Reiterated
Date:08/29/26
The score is driven primarily by improving financial performance with strong TTM margins and moderate leverage, offset by weak cash conversion and notable cyclicality. Technicals are mildly constructive in the near term but remain below longer-term trend measures, while valuation appears moderate with no dividend data to add support.
Positive Factors
Revenue and profit recovery
The strong TTM recovery shows that the company can regain substantial revenue and profitability when lithium conditions improve. This supports operating scale and demonstrates that its mining and lithium-chemical platform can produce meaningful earnings across favorable parts of the cycle.
Negative Factors
Lithium price-cycle exposure
Because realized lithium prices are a major earnings driver, profitability can change sharply as global supply and demand rebalance. This structural commodity exposure makes recent margins less dependable than those of a business with steadier pricing, contracts, or end-market demand.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profit recovery
The strong TTM recovery shows that the company can regain substantial revenue and profitability when lithium conditions improve. This supports operating scale and demonstrates that its mining and lithium-chemical platform can produce meaningful earnings across favorable parts of the cycle.
Read all positive factors
Tianqi Lithium Corp. Class H (9696) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$85.17B
Dividend Yield5.8%
Average Volume (3M)4.76M
Price to Earnings (P/E)15.7
Beta (1Y)1.47
Revenue Growth61.40%
EPS GrowthN/A
CountryHK
Employees3,902
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)2.73
Shares Outstanding236,145,540
10 Day Avg. Volume4,133,149
30 Day Avg. Volume4,756,897
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$55.03Price Target Upside48.89% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)4.71
Revenue Forecast (FY)HK$30.45B
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
66
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 17.46B | 10.08B | 13.06B | 40.45B | 40.17B | 7.66B |
| Gross Profit | 10.03B | 3.91B | 5.30B | 34.35B | 34.15B | 4.69B |
| EBITDA | 10.64B | 4.40B | 5.44B | 37.66B | 41.46B | 4.59B |
| Net Income | 4.60B | 450.65M | -7.90B | 7.28B | 23.94B | 3.65B |
Balance Sheet | ||||||
| Total Assets | 84.00B | 73.10B | 69.56B | 74.97B | 72.56B | 45.80B |
| Cash, Cash Equivalents and Short-Term Investments | 11.82B | 5.71B | 6.42B | 9.35B | 12.46B | 1.99B |
| Total Debt | 17.69B | 15.49B | 14.92B | 11.76B | 8.71B | 21.81B |
| Total Liabilities | 24.50B | 21.12B | 19.50B | 19.01B | 17.80B | 26.01B |
| Stockholders Equity | 48.33B | 42.38B | 42.77B | 51.52B | 50.16B | 14.36B |
Cash Flow | ||||||
| Free Cash Flow | 985.90M | -583.56M | 1.03B | 18.25B | 18.58B | 1.23B |
| Operating Cash Flow | 3.88B | 2.93B | 5.55B | 22.69B | 20.30B | 2.23B |
| Investing Cash Flow | -6.95B | -4.41B | -5.88B | -2.02B | 744.01M | -65.19M |
| Financing Cash Flow | 1.25B | -417.37M | -3.24B | -23.44B | -10.57B | -1.15B |
Tianqi Lithium Corp. Class H Technical Analysis
Negative
36.96
Price Trends
35.24
Negative
43.66
Negative
46.22
Negative
Market Momentum
-0.38
Positive
39.97
Neutral
13.70
Positive
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 35.96, above the 50-day MA of 35.24, and below the 200-day MA of 46.22, indicating a bearish trend. The MACD of -0.38 indicates Positive momentum. The RSI at 39.97 is Neutral, neither overbought nor oversold. The STOCH value of 13.70 is Positive, 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 |
|---|---|---|---|---|---|---|---|
67 Neutral | HK$456.31B | 13.96 | 31.60% | 2.73% | 25.06% | 72.98% | |
67 Neutral | HK$27.94B | 5.36 | 30.91% | 4.13% | 34.76% | 66.30% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | HK$85.17B | 15.70 | 10.30% | 5.80% | 61.40% | ― | |
51 Neutral | HK$315.20M | 36.87 | 1.58% | 0.90% | 2.31% | ― | |
46 Neutral | HK$2.25B | 5.31 | 11.28% | 2.44% | -32.45% | ― | |
42 Neutral | HK$52.71M | -0.14 | -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 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...
Tianqi Lithium Subsidiary Invests RMB150 Million in Sunwoda Mobility Energy
Jul 24, 2026
Tianqi Lithium Corporation has announced that its wholly owned subsidiary, Tianqi Lithium (Shehong) Co., Limited, will invest RMB150 million into Sunwoda Mobility Energy Technology Co., Ltd. by subscribing for 79,218,106 newly issued shares. The m...
Tianqi Lithium Forecasts Sharp Profit Surge on Higher Prices and SQM Gains
Jul 14, 2026
Tianqi Lithium has issued a forecast for the first half of 2026 indicating a dramatic turnaround in profitability, with net profit expected to surge to between RMB2.85 billion and RMB4.25 billion, compared with about RMB84 million a year earlier, ...
Tianqi Lithium Wins Shareholder Backing for Capital Cut and Governance Overhaul
Jun 29, 2026
Tianqi Lithium Corp. reported that shareholders approved all resolutions at an extraordinary general meeting held in Chengdu on 29 June 2026, with about 34% of voting shares represented. Special resolutions passed included the repurchase and cance...
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.