Summary by Moomoo AI
TIANZI LITHIUM CO., LTD. (THE “COMPANY”) RECEIVED A “NOTE OF CONCERN” FROM THE SHENZHEN STOCK EXCHANGE ON APRIL 23, 2024 FOR INQUIRIES REGARDING THE FINANCIAL CONDITION OF THE COMPANY FOR THE FOURTH QUARTER OF 2023 AND THE FIRST QUARTER OF 2024. The Company responded on April 26, 2024, indicating that the increase in losses for the first quarter of 2024 was mainly due to market volatility in lithium products, resulting in a significant decrease in sales prices. The Company's sales of lithium salt products increased by 108.92% year-on-year, but due to a significant decrease in gross profit from lithium products and a decrease in investment income from its joint venture SQM, led to a widening net profit margin. The company also mentioned that there is...Show More