Tianji Co. Ltd. has unveiled its 2024 performance forecast, projecting a net loss ranging from RMB 1.25 billion to RMB 1.5 billion, a stark contrast to the profit of RMB 36.64 million recorded in the same period last year. The company's core product, lithium hexafluorophosphate, is grappling with intense market competition, which has resulted in a steep decline in product prices. Consequently, all three of Tianji's main subsidiaries have incurred losses, totaling over RMB 300 million.

Additionally, owing to the gradual oversaturation within the industry, Tianji anticipates a continued decline in profitability, with an expected impairment of approximately RMB 1 billion. Concurrently, its wholly-owned subsidiary, Xinte Chemical, is predicted to fall short of its annual performance targets due to the combined effects of technological transformation, production halts for expansion, and falling product prices, leading to an impairment of approximately RMB 50 million.

Since the latter half of 2020, the price of lithium hexafluorophosphate has undergone dramatic fluctuations, plummeting to a record low of RMB 54,000 per ton by September 2024. Despite these challenges, Tianji Co. Ltd. remains positive about the expanding market share of the new energy vehicle sector, believing it will stimulate an increase in demand for lithium hexafluorophosphate. The company underscores its competitive edges in terms of scale and technological reserves.