Stock 9696 TIANQI LITHIUM CORPORATION
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Financials Tianqi Lithium Corporation Hong Kong S.E.

Equities

9696

CNE100005F09

Commodity Chemicals

Market Closed - Hong Kong S.E.
Other stock markets
 01:38:10 26/06/2024 pm IST 		5-day change 1st Jan Change
25 HKD +6.38% Intraday chart for Tianqi Lithium Corporation -3.29% -42.06%
18/06 Codelco-SQM lithium deal can proceed without shareholder approval, regulator says RE
18/06 Factbox-China's Premier Li visits industry in Western Australia RE

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 44,579 58,006 1,58,050 1,24,636 88,736 47,153 - -
Enterprise Value (EV) 1 74,060 87,035 1,76,504 1,20,612 89,783 40,940 29,939 27,287
P/E ratio -5.76 x -31.7 x 75.9 x 5.09 x 12.5 x 45.6 x 11.3 x 9.03 x
Yield - - - 3.8% 2.42% 2.33% 2.33% 2.66%
Capitalization / Revenue 9.21 x 17.9 x 20.6 x 3.08 x 2.19 x 3.55 x 3.09 x 2.5 x
EV / Revenue 15.3 x 26.9 x 23 x 2.98 x 2.22 x 3.09 x 1.96 x 1.45 x
EV / EBITDA -17.6 x -128 x 40.1 x - 2.42 x 3.98 x 2.37 x 1.87 x
EV / FCF -53.7 x -327 x 163 x 6.49 x 4.92 x 5.23 x 5.44 x 4.17 x
FCF Yield -1.86% -0.31% 0.62% 15.4% 20.3% 19.1% 18.4% 24%
Price to Book 4.95 x 11.1 x 12.4 x 2.67 x 1.78 x 0.98 x 0.9 x 0.85 x
Nbr of stocks (in thousands) 14,77,099 14,77,099 14,77,099 16,39,441 16,39,441 16,39,441 - -
Reference price 2 30.18 39.27 107.0 78.99 55.79 31.55 31.55 31.55
Announcement Date 28/04/20 14/04/21 29/04/22 30/03/23 27/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 4,841 3,239 7,663 40,449 40,503 13,265 15,284 18,853
EBITDA 1 -4,206 -678.7 4,402 - 37,046 10,297 12,621 14,570
EBIT 1 -4,538 -1,022 3,989 39,911 36,296 8,861 11,713 12,634
Operating Margin -93.75% -31.56% 52.05% 98.67% 89.61% 66.8% 76.63% 67.01%
Earnings before Tax (EBT) 1 -4,480 -1,054 3,964 39,901 36,281 9,578 13,666 14,915
Net income 1 -5,983 -1,834 2,079 24,125 7,297 1,517 4,791 5,383
Net margin -123.61% -56.61% 27.13% 59.64% 18.02% 11.44% 31.35% 28.55%
EPS 2 -5.240 -1.240 1.410 15.52 4.450 0.6913 2.797 3.493
Free Cash Flow 1 -1,380 -266.4 1,086 18,582 18,259 7,834 5,508 6,550
FCF margin -28.52% -8.22% 14.17% 45.94% 45.08% 59.06% 36.04% 34.74%
FCF Conversion (EBITDA) - - 24.66% - 49.29% 76.08% 43.64% 44.96%
FCF Conversion (Net income) - - 52.23% 77.02% 250.22% 516.4% 114.96% 121.68%
Dividend per Share 2 - - - 3.000 1.350 0.7342 0.7347 0.8406
Announcement Date 28/04/20 14/04/21 29/04/22 30/03/23 27/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 S1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 S1 2025 S2
Net sales - - - - 15,803 26,153 11,449 13,339 - 8,576 - 15,680 - - 5,772 - - 6,592 5,749 7,026
EBITDA - - - - - - - - - - - - - - - - - - - -
EBIT - - - - 14,740 25,224 - - - - - 12,886 - - 3,269 - - 4,032 3,026 3,669
Operating Margin - - - - 93.27% 96.45% - - - - - 82.18% - - 56.64% - - 61.17% 52.63% 52.22%
Earnings before Tax (EBT) - - - - 14,715 25,216 - - - - - - - - - - - - - -
Net income 85.8 7,000 10,328 - 8,143 13,797 - 1,572 6,447 - -801.2 - - - - - - - - -
Net margin - - - - 51.53% 52.75% - 11.78% - - - - - - - - - - - -
EPS 1 0.0600 4.740 - 3.490 5.040 8.530 2.970 0.9600 - 1.000 -0.4800 - -2.380 -0.3600 - 0.2200 0.2800 - - -
Dividend per Share - - - - - - - - - - 1.350 - - - - - - - - -
Announcement Date 29/08/21 30/08/22 30/08/22 27/10/22 30/03/23 30/03/23 28/04/23 30/08/23 30/08/23 26/10/23 27/03/24 27/03/24 29/04/24 - - - - - - -
1CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 29,481 29,030 18,454 - 1,046 - - -
Net Cash position 1 - - - 4,024 - 6,212 17,214 19,866
Leverage (Debt/EBITDA) -7.01 x -42.78 x 4.192 x - 0.0282 x - - -
Free Cash Flow 1 -1,380 -266 1,086 18,582 18,259 7,834 5,508 6,550
ROE (net income / shareholders' equity) -84.4% -30.1% 23.2% 80.7% 14.6% 1.44% 8.5% 9.17%
ROA (Net income/ Total Assets) -5.98% -4.14% 4.82% 42% 10.1% 4.3% 6.06% 6.6%
Assets 1 1,00,063 44,315 43,100 57,506 72,038 35,280 79,052 81,595
Book Value Per Share 2 6.100 3.520 8.640 29.50 31.40 32.10 34.90 37.00
Cash Flow per Share 2 2.060 0.4700 1.420 12.40 13.80 4.840 4.830 5.880
Capex 1 3,735 878 1,009 1,716 4,429 1,796 2,667 2,772
Capex / Sales 77.17% 27.11% 13.16% 4.24% 10.93% 13.54% 17.45% 14.7%
Announcement Date 28/04/20 14/04/21 29/04/22 30/03/23 27/03/24 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Tianqi Lithium Corporation

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
20
Last Close Price
31.55 CNY
Average target price
45.14 CNY
Spread / Average Target
+43.08%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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