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Tianqi Lithium issued its performance forecast for 2023 on January 30th. The company expected a net profit attributable to shareholders of the listed company ranging from 6.62 billion to 8.95 billion yuan in 2023 (approximately $932.6 million to $1.26 billion US). After deducting non-recurring gains and losses, the net profit was expected to be between 6.5 billion and 8.82 billion yuan (approximately $915.7 million to $1.24 billion US), representing a year-on-year decline of 62.9% to 72.56%.

On January 31st, Chengxin Lithium released its performance forecast, expecting a net profit attributable to shareholders of the listed company to be between 700 million and 800 million yuan (approximately $98.6 million to $112.7 million US) in 2023, with a year-on-year decline of 85.59% to 87.39%.

Yahua Industrial announced its performance forecast on January 30th, anticipating a net profit attributable to shareholders of the listed company to be between 40 million and 60 million yuan (approximately $5.59 million to $8.38 million US) in 2023, with a year-on-year decrease of 98.68% to 99.12%.

On January 30th, Ganfeng Lithium issued its performance forecast for 2023, expecting a net profit attributable to shareholders of the listed company to be between 4.2 billion and 6.2 billion yuan (approximately $591.7 million to $873.4 million US) with a year-on-year decrease of 79.52% to 69.76%. After deducting non-recurring gains and losses, the net profit is estimated to be between 2.3 billion and 3.4 billion yuan (approximately $324.0 million to $479.0 million US), with a year-on-year decrease of 88.47% to 82.96%.

Among these four companies, Ganfeng Lithium is the one that suffered the most significant setback. Many other companies in the same industry are facing similar challenges. The common explanation given by these companies is the sharp decline in lithium prices, leading to a significant year-on-year decrease in sales volume and price. This further highlights the challenges facing the entire lithium mining industry. Against the backdrop of falling lithium prices, it is necessary to re-examine their business strategies and actively respond to market changes to maintain profitability and market share.

Source: WeChat Official Account—电池工业网

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