Tianqi Lithium Corporation (09696.HK) saw its stock price surge 5.36% during intraday trading on Friday, continuing its upward momentum from the previous session. The rally comes on the heels of the company's recently released third-quarter earnings report, which revealed a return to profitability amid rebounding lithium prices.

The Hong Kong-listed lithium producer, part of the market's "lithium duo" alongside Ganfeng Lithium, has been riding a wave of positive sentiment in the sector. Tianqi Lithium's impressive gain follows a more than 9% increase in the previous trading session, reflecting growing investor confidence in the lithium industry's recovery.

Industry analysts attribute the stock's strong performance to structural divergences emerging in the lithium market and signs of a bottom in profitability for major producers. The rebound in lithium prices during the third quarter has played a crucial role in boosting the financial performance of companies like Tianqi Lithium. As the green energy transition continues to drive demand for lithium-ion batteries, market participants appear to be betting on sustained growth for key players in the lithium supply chain.