Tianqi Lithium Corporation released its unaudited results for the three months ended 31 March 2026, reporting sharp year-on-year growth driven by higher lithium prices and increased investment income from associate SQM.

Revenue and earnings • Operating income rose 98.44 % to RMB 5.13 billion. • Net profit attributable to shareholders surged 1,699.12 % to RMB 1.88 billion. • Excluding non-recurring gains of RMB 60.28 million, core net profit reached RMB 1.82 billion, up 3,987.18 %. • Basic earnings per share advanced to RMB 1.12; diluted EPS was RMB 1.10. • Weighted average ROE improved by 4.06 ppts to 4.31 %.

Operating metrics • Gross profit expansion offset higher costs, but net cash flow from operating activities declined 72.77 % to RMB 0.26 billion, due mainly to lower factoring proceeds at subsidiary Windfield and increased lithium concentrate purchases. • Total assets increased 10.16 % from year-end 2025 to RMB 79.44 billion; owner’s equity attributable to shareholders climbed 9.52 % to RMB 46.39 billion. • Net gearing eased as short-term borrowings fell to RMB 0.63 billion from RMB 1.30 billion; long-term loans stood at RMB 10.59 billion.

Key corporate developments • Capital raise: In February 2026 the company placed 65.05 million new H shares at HKD 45.05 each and issued RMB 2.60 billion of H-share convertible bonds under its general mandate. Following the placement, H-share count increased to 229.17 million and total share capital to 1.71 billion shares. • Capacity expansion: Talison’s Phase III chemical-grade lithium concentrate project in Greenbushes, Western Australia, produced its first qualified product on 30 January 2026 and is ramping up toward full capacity. • Chile litigation: The Supreme Court of Chile upheld earlier rulings dismissing Tianqi Lithium’s wholly owned subsidiary’s claim regarding SQM’s partnership with Codelco. The company expects no material immediate impact on current-period profit and will continue to assess the value of its long-term investment in SQM.

Balance sheet and liquidity • Cash and cash equivalents closed the quarter at RMB 4.18 billion, up from RMB 3.75 billion at end-2025, supported by financing inflows of RMB 4.35 billion, including proceeds from the H-share placement and convertible bond issuance. • Net cash used in investing activities totalled RMB 4.18 billion, reflecting increased spending on investments and capital projects.

Audit status The Q1 2026 financial statements are unaudited and prepared under China Accounting Standards for Business Enterprises.