At the briefing on the same day, investors paid attention to how Tianqi absorbed more than 400,000 metric tons of spodumene stocks as of the end of last year, the outlook for the lithium market this year, and the increase in Kwinana's lithium hydroxide production capacity.
The Zhitong Finance App learned that Citi released a research report saying that Tianqi Lithium (09696) held a briefing on Wednesday (10th) to present the latest information, downgrade the company's earnings forecast per share by 22% and 32% for this year and next, and lower the target price of H shares from HK$44 to HK$40, giving it a “neutral” rating. At the briefing on the same day, investors focused on how the company absorbed more than 400,000 metric tons of spodumene inventory as of the end of last year, the outlook for the lithium market this year, and the increase in Kwinana's lithium hydroxide production capacity.
The bank quoted management as saying that part of the reason for the high spodumene inventory was due to the decline in outsourced orders in the second half of last year due to the market environment. Management will increase outsourcing to absorb inventory. In terms of Kwinana's production capacity, the report quoted management as saying that the first phase of the production increase was slower than expected. The second phase of the project is currently in the preliminary feasibility study stage, and the design work is expected to be completed in the second half of the year.