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Stock impact report

China's Tianqi Lithium faces further loss, eyes stake sales [Reuters]

Sociedad Quimica y Minera S.A. (SQM) 
Last sociedad quimica y minera s.a. earnings: 3/2 09:13 pm Check Earnings Report
US:NYSE Investor Relations: ir.sqm.com
Company Research Source: Reuters
China's Tianqi Lithium faces further loss, eyes stake sales * Top lithium producer expects to lose up to 510 mln yuan in Q1 * In talks to sell stake in Australian JV Talison Lithium -report * Lithium prices have crashed since Tianqi agreed $4.1 M&A deal * Rival Ganfeng sees Q1 net profit plunging up to 97% y/y BEIJING/MELBOURNE April 15 (Reuters) - Tianqi Lithium , one of the world’s top producers of the commodity used in batteries for electric vehicles, expects to post a net loss in the first quarter of 2020, exacerbating a grim financial situation that may force it to sell off assets. Tianqi said in a filing late on Tuesday that it expected to lose 450-510 million yuan in the March quarter this year, blaming low lithium prices, coronavirus-related disruption that hit sales, and foreign exchange factors. It had in late February already flagged a provisional net loss of 2.8 billion yuan ($396.72 million) for 2019. Moody’s, the rating agency, downgraded Tianqi to Caa1 from B2 on March Show less Read more
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