pennbattle36000dx| Tianqi Lithium Industry: Jiang Anqi's succession faces performance challenges and diversified industrial chain layout

News summary

The market value of Tianqi Lithium Industry is about 63 billion yuan. After Jiang Weiping resigned as chairman, his daughter Jiang Anqi took over. Jiang Anqi faces challenges including falling lithium product prices affecting performance, and declining performance of associate company SQM. The Shenzhen Stock Exchange is concerned about the risk of loss in her main business. Tianqi Lithium Industry hedges performance fluctuations through diversified industrial chain layout. Jiang Anqi supports and is expected to push the company into a new stage of development.

Newsletter text

[Jiang Weiping submitted his resignation report, and Jiang Anqi took over as chairman of Tianqi Lithium Industry (002466)]

At the end of April, Tianqi Lithium announced that founder Jiang Weiping had resigned as chairman. His daughter Jiang Anqi was elected by the board of directors as the new chairman. At the same time, Jiang Weiping was appointed as honorary chairman of the board of directors. The move marks the official transfer of leadership in corporate governance to a new generation.

As a listed company with a market value of approximately 63 billion yuan, Tianqi Lithium Industry will face multiple challenges under the leadership of Jiang Anqi. Jiang Anqi has about 10 years of experience. She studied for a Master of Business Administration at Southwestern University of Finance and Economics, and held multiple senior positions in Tianqi Group and Tianqi Lithium Industry.

Recently, the performance of Tianqi Lithium Industry has been affected by the increase in the supply of lithium products and the decline in prices. The Shenzhen Stock Exchange has required the company to explain in detail the risk of continued losses in its main business and the detailed calculation basis for the decline in SQM's performance. In addition, Tianqi Lithium also needs to properly solve the hidden dangers left by foreign investment and acquisitions.

In order to support his daughter's succession, Tianqi Lithium Industry's board of directors appointed Jiang Weiping as honorary chairman of the board of directors to continue to provide strategic planning and business development guidance. Jiang Anqi said that she will have a closer cooperative relationship with the management of listed companies, and the new team will focus more on internationalization.

Jiang Anqi's "succession" process began while studying for a master's degree of business administration at Southwestern University of Finance and Economics, and joined Tianqi Group after graduation. In 2018, Tianqi Lithium Industry established a solid foundation through a series of external mergers and acquisitionspennbattle36000dxIt has increased its position in the global lithium mining and production field, but it has also brought huge debt pressure.

In 2023, Tianqi Lithium Industry will achieve revenue of 405pennbattle36000dx.03 billion yuan, a slight increase of 0.13% year-on-year; net profit was 7.297 billion yuan, a year-on-year decrease of 69.75%. After Jiang Anqi took over, how to reverse the decline in performance became her primary challenge.

In order to hedge its performance by relying on fluctuations in lithium prices, Tianqi Lithium has continued to increase its industrial layout such as lithium battery materials research and development and new energy battery research and development in recent years. The diversified layout of the industrial chain was supported by Jiang Anqi. She realized that the profitability of lithium mining companies needed to expand new businesses to diversify revenue and profits.

However, the downstream industrial chain of lithium batteries is also facing the pressure of market competition and price wars. Whether it can help Tianqi Lithium Industry's performance improve is still unknown. Another major challenge for Jiang Anqi after taking over is how to properly handle the risks left by Tianqi Lithium Industry's previous series of foreign acquisitions and investments.

pennbattle36000dx| Tianqi Lithium Industry: Jiang Anqi's succession faces performance challenges and diversified industrial chain layout

Family business inheritance researchers pointed out that as macroeconomic fluctuations increase, many family businesses are facing new performance uncertainties and development strategy changes. Female heirs need to assess the situation and formulate new corporate development directions, and integrate resources to actively implement new corporate development strategies.