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Express News | China's Tianqi Asks Chilean Financial Regulator to Reconsider Decision on Sqm-Codelco Lithium Deal- Local Media
HKEX News | Tianqi Lithium Corporation (09696) fell more than 4% to a new low as the state-owned company SQM was nationalized. The company's first quarter loss was nearly RMB 3.9 billion.
According to the Zhītōng caijīng APP, Tianqi Lithium Corporation (09696) fell more than 4%, hitting a new low of 22.35 Hong Kong dollars and falling 4.27% to 22.4 Hong Kong dollars, with a turnover of 45,289,500 Hong Kong dollars. On the news side, the Chilean Financial Market Commission (CMF) has rejected Tianqi Lithium Corporation's application to hold a shareholder meeting. On May 31st, SQM and the Chilean National Copper Corporation Codelco signed an agreement to establish a joint venture, with 70% of the joint venture's operating margin to be returned to the Chilean government from 2025 onwards. This means that most of SQM's lithium business profits will go to Chile.
Hong Kong stock market anomaly | Lithium industry stocks fell today, actual reduction of lithium salt factories is limited, and lithium prices are expected to remain weak in the short term.
According to the Wisdom Investing app, lithium stocks fell today. As of press time, Tianqi Lithium Corporation (09696) fell 3.8%, to HKD 24.05; Ganfeng Lithium (01772) fell 3.33%, to HKD 16.34. On June 27th, the main contract for lithium carbonate futures fell again below the 90,000 yuan level. Yesterday, the main contract for lithium carbonate futures, 2407, rose by more than 5%, to 92,550 yuan/ton. Zhicun Lithium Group recently announced that due to the summer flood season, in order to ensure the safe and stable operation of the production line, and improve product quality and production efficiency, regular summer maintenance plans will be carried out annually.
As lithium battery sector comes under pressure, ganfenglithium (01772) drops by 2.5%. Institutions suggest that the sector is undervalued, and under pressure from raw material prices, lithium battery companies may benefit.
Lithium battery sector is under pressure at the beginning of the market, with Ganfeng Lithium (01772) falling 2.50%, BYD Electronic (00285) falling 2.11%, Tsaker NE (01986) falling 1.87%, Zhongchuang Inno-Aircraft (03931) falling 1.49%, Tianqi Lithium Corporation (09696) falling 1.40%.
As of June 20, 2024, the total number of A-share shareholders in Tianqi Lithium Corporation (002466.SZ) was 300,710.
On June 26, Gelunhui reported that as of June 20, 2024, Tianqi Lithium Corporation had 300,710 A-share shareholders. As of June 4, 2024, the number of H-share shareholders was 517 (including 516 registered shareholders and Hong Kong Securities Clearing Company Limited, which represented non-registered shareholder holdings).
The lithium industry has strong momentum. Tianqi Lithium Corporation (09696) rose 7.87%, and institutions predict that the lithium battery Q3 peak season is expected.
Jingu Finance | Lithium stocks have shown strong momentum, with Tianqi Lithium Corporation (09696) rising 7.87% and Ganfenglithium (01772) rising 6.24%. After the release of relevant consultation draft on May 8, on June 19, the Electronic Information Department of the Ministry of Industry and Information Technology officially released the "Specifications for the Lithium-ion Battery Industry (2024 Edition)" (referred to as "Specifications") and the "Management Measures for the Announcement of Specifications for the Lithium-ion Battery Industry (2024 Edition)", which clarify that it will guide the industry to accelerate transformation, upgrading and structural adjustment, and promote the high-quality development of China's lithium-ion battery industry. Shanxi stated that every cycle of lithium mining expansion will undergo structural adjustment.
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