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Tianqi Lithium's FY'17 net profit up 42% to 2.15B yuan

Tianqi Lithium Industries Inc. said Feb. 28 that net profit attributable to shareholders for 2017 rose 42% to 2.15 billion Chinese yuan, or 2.18 yuan per share, from 1.51 billion yuan, or 1.54 yuan per share, recorded a year ago.

Operating revenues were up 40% to 5.47 billion yuan. The company attributed the improvement to higher sales revenues in the lithium segment as well as reduced asset impairments.

The company's asset-liability ratio was 40.34%, with a liquidity ratio of 3.13, as of Dec. 31, 2017.

As of Feb. 27, US$1 was equivalent to 6.32 yuan.