Curious for thoughts on Tianqi lithium

Hello everyone,
I thought this might be a good place to get a few differing views on IGO's greenbushes partner tianqi lithium - 9696 on HK exchange. I just took a sizeable position today even though the chart looks horrible. I am fairly new to lithium but not new to commodities in general.
The basis is they trading discounted to book value and investments in top tier mines one would assume they will survive well through this cycle?
they share 25% of greenbushes like IGO.
own 20% of SQM.
multiple processing plants and have greatly paid down debt.
the march quarter was a loss which has trashed the share price but a lot of this was one off factors. SQM large income tax expense from 2023 and greenbushes dividend came after quarter end and greenbushes had an inventory buildup. I must admit Chinese companies are difficult to assess on their limited quarterly reporting. I am probably investing in lithium two years too early but happy to invest at high risk for the next cycle.

I am sure you guys would be a lot more knowledgeable, it would be good to view your opinions on this company and it's relationship with IGO. Do you think they will successfully ramp up the lithium processing at Kwinana?