The leading lithium company, Tianqi Lithium Corporation (SHE: 002466), has released a preliminary earnings report for the first half of 2026.

According to the announcement, the company expects to report net profit attributable to shareholders of between 28.5 billion and 42.5 billion yuan for the period, representing a year-on-year increase of 3,276.35% to 4,934.91%.

Adjusted net profit, excluding non-recurring items, is forecast to be between 28.1 billion and 42 billion yuan, a staggering increase of 212,778.79% to 318,081.82% compared to the same period last year.

Key Drivers of Performance

The substantial projected growth is attributed to two primary factors. The first is a significant increase in the average selling price of the company's main lithium products, driven by the development of the new energy industry and rising downstream demand.

The second factor is the expected strong performance of its significant associated company, Sociedad Química y Minera de Chile S.A. (SQM). Tianqi Lithium anticipates a substantial year-on-year increase in its investment income from SQM.

Global Resource Portfolio

As a major player in the lithium sector, Tianqi Lithium holds a portfolio of high-quality resources worldwide. Its controlling stake in the Greenbushes spodumene mine in Australia is the world's largest and among the lowest-cost operating spodumene projects.

Through its investment in SQM, it also holds an interest in mining rights for part of the Atacama Salt Flat in Chile. According to Wood Mackenzie's Q4 2025 data, the Atacama Salt Flat and the Greenbushes mine were the world's largest producing lithium brine and hard-rock lithium projects in 2025, accounting for approximately 11% and 9.3% of global lithium production, respectively.

Domestically, the company controls the Sichuan Yajiang Cuola spodumene mine, which forms part of Asia's largest hard-rock lithium deposit in the Jiajika area.

Production Capacity and Future Projects

By the end of 2025, the company had established integrated lithium chemical production bases both in China and overseas, with a total annual capacity of 121,600 tonnes. An expansion project in Tongliang, Chongqing, is underway to add 1,000 tonnes of annual lithium metal production capacity.

Upon completion, the company's total global integrated lithium chemical product capacity will reach 122,600 tonnes per year.

Company management has stated that its resource development and capacity expansion will proceed in a measured way, aligned with actual market demand.

Focus on Next-Generation Technology

Beyond securing resources and expanding production, the company is focusing on key materials for next-generation batteries. It has made progress in research and development, including the launch of a lithium sulfide product in November 2025, a key material for solid-state batteries.

A pilot project with an annual capacity of 50 tonnes of lithium sulfide has also commenced. Looking ahead, the company aims to leverage its research capabilities to evolve from a basic materials supplier into a provider of core functional materials and technical solutions, with a focus on next-generation high-performance battery materials and battery recycling.