Tianqi lithium industry recently released a 2024 quarterly results forecast, expected to lose 3.6 billion to 4.3 billion yuan, compared with the same period last year, the profit of 4.875 billion yuan appeared to be a sharp decline. The Shenzhen Stock Exchange expressed concern about this, asking for an explanation of the reasons for the sharp increase in losses. According to industry data, the average price of battery-grade lithium carbonate in the first quarter of 2024 fell 24.5% sequentially, which may be one of the reasons for the decline in the performance of Tianqi lithium industry. In addition, Tianqi Lithium also mentioned that its associate SQM's net profit in the first quarter is expected to decrease by about 1.1 billion U.S. dollars, which also had an impact on its investment income. Tianqi lithium's main business is lithium ore and lithium compounds and derivatives, of which lithium compounds include lithium carbonate and other lithium salt products, one of the raw materials for lithium batteries. A number of futures companies and brokers believe that the loss of Tianqi lithium reflects the pressure faced by upstream enterprises under the status of lithium prices, and it is expected that the follow-up will still be more upstream listed companies less than expected. The current lithium industry capacity clearance has not yet begun, 2024 lithium prices may still be in the bottoming stage.