"Third, Tianqi Lithium's ownership is concentrated and only a minority of its board consists of independent directors."
Sadly a dramatic understatement. Xi the paranoid has installed communist party panels/spies in all public companies in China, and they sit in on all board meetings. As they can get the board and management locked up any time, they are calling the shots. The companies are no longer run to maximise profits. Some might maximise idiocy?
Day to day discussions on S/P, page-15911
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