However, in the first quarter of 2025, both lithium giants’ actual revenues continued to decline. Tianqi Lithium achieved 2.6 billion yuan in revenue in Q1, a 0.02% year-on-year drop. Meanwhile, Ganfeng Lithium posted 3.8 billion yuan in revenue, a 25.4% decline year-on-year, with a net loss of 360 million yuan.
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