证券代码：002466 证券简称：天齐锂业 公告编号：2025-063 天齐锂业股份有限公司 第六届董事会第二十八次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 天齐锂业股份有限公司（以下简称"公司"）第六届董事会第二十八次会议（以下简称"会 议"）于2025年12月30日在四川省成都市天府新区红梁西一街166号公司八楼会议室以现场结合 通讯表决的方式召开。召开本次会议的通知已于2025年12月18日通过电子邮件方式送达各位董 事，会议材料于2025年12月24日以电子邮件方式送达各位董事。本次会议应参加表决董事8人 （其中独立董事4人），实际参加表决董事8人（其中董事蒋安琪女士、蒋卫平先生、夏浚诚先 生、邹军先生、黄玮女士、吴昌华女士通讯方式出席会议，全体监事列席本次会议）。本次会 议由董事长蒋安琪女士召集并主持，会议的召集、召开与表决程序符合《中华人民共和国公司 法》（以下简称"《公司法》"）等相关法律、法规和《公司章程》的规定，合法有效。 1、审议通过《关于设定 Albemarle 协议项下持续关连交易 2026 ...

Core Viewpoint - The lithium battery industry is undergoing significant changes in pricing mechanisms, production adjustments, and technological advancements, with key players like Tianqi Lithium leading the way in redefining pricing structures and production strategies [3][8][41]. Pricing Restructuring - Lithium carbonate prices have surged, with the benchmark price exceeding 120,000 yuan/ton by December 30, marking a more than 30% increase from the beginning of the month and doubling from the year's low of under 60,000 yuan/ton [5][6]. - Tianqi Lithium announced a shift in its pricing model starting January 1, 2026, moving from a single pricing reference to a dual structure based on either the Mysteel index or the futures contract price, allowing customers to choose [9][10][12]. Production Adjustments - Major players in the lithium iron phosphate sector, including Hunan Youneng and Wanrun New Energy, have announced production cuts due to high operational loads and maintenance needs, with total reductions estimated between 30,000 to 70,000 tons, representing 7% to 17% of the domestic output in January [17][19][20]. - The industry is experiencing a shift from total price negotiations to discussions around processing fees, with leading companies seeking to raise processing fees by 2,000 to 3,000 yuan/ton to offset rising raw material costs [24][22]. Technological Developments - Sodium-ion batteries are gaining attention, with companies like CATL aiming for large-scale applications by 2026, focusing on energy storage and commercial vehicles [35][39]. - The economic viability of sodium-ion batteries is becoming more favorable as they do not require lithium carbonate or copper, providing a cost advantage in a high-price environment [38][39]. Market Dynamics - The lithium battery supply chain is attempting to redefine profit and risk boundaries in anticipation of a "tight balance" in 2026, with various strategies being employed across different segments of the industry [43][44]. - The overall net profit margin for lithium battery companies is around 9%, with upstream resources maintaining higher profitability while many midstream and downstream companies face tighter cash flows [42].

北京中伦（成都）律师事务所 关于天齐锂业股份有限公司 2025 年第三次临时股东大会的 法律意见书 二〇二五年十二月 北京中伦（成都）律师事务所 关于天齐锂业股份有限公司 2025 年第三次临时股东大会的 法律意见书 致：天齐锂业股份有限公司 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共 和国证券法》（以下简称"《证券法》"）、《上市公司股东会规则》（以下简称"《股 东会规则》"）、《深圳证券交易所上市公司股东会网络投票实施细则》及《深圳 证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》等法律、 法规及规范性文件的规定，北京中伦（成都）律师事务所（以下简称"本所"） 指派律师出席了天齐锂业股份有限公司（以下简称"公司"）2025 年第三次临 时股东大会（以下简称"本次股东大会"），并对本次股东大会的合法性进行见 证并出具法律意见。 本所及经办律师依据《证券法》《律师事务所从事证券法律业务管理办法》 和《律师事务所证券法律业务执业规则（试行）》等规定及本法律意见书出具日 以前已经发生或者存在的事实，严格履行了法定职责，遵循了勤勉尽责和诚实信 用原则，进行了充分的核查验证 ...

Important Matters - WISCO Development plans to acquire equity in WISCO Mining and Luzhong Mining, resulting in stock suspension [1] - Unisplendour intends to purchase equity or full ownership of Ruineng Semiconductor, leading to stock suspension [1] - Heng Rui Medicine's subsidiary received approval for clinical trials of HRS-6257 tablets, with no similar drugs approved in the domestic market [1] - Longpan Technology's subsidiary is reducing production on some lithium iron phosphate production lines for maintenance, a move echoed by several leading manufacturers in the industry [1] Investment Operations - Guoxin Technology has laid out plans for smart driving MCU chips and is developing a high-performance AI chip with 10,000 DMIPS [1] - Juneyao Airlines plans to purchase 25 Airbus A320 series aircraft for $4.1 billion [1] - Spring Airlines intends to buy 30 Airbus A320neo series aircraft, with a transaction amount not exceeding $4.128 billion [1] - Tsinghua Tongfang is making breakthroughs in the open-source HarmonyOS field for product and commercialization [1] - Guangzhou Port is investing 2.353 billion yuan in the intelligent transformation project of the Nansha Port International General Terminal [1] - International Composite Materials plans to invest 1.693 billion yuan to build a project with an annual production capacity of 36 million meters of high-frequency high-speed electronic fiber cloth [1] - State Power Investment Corporation's subsidiary is co-investing with CATL in the Dadu River Danba Hydropower Station project, with a total investment of 15.273 billion yuan [1] - Haisheng Pharmaceutical's invested company has completed the first subject enrollment in the Phase II clinical trial of the innovative drug NWRD06 injection, targeting a specific liver cancer marker [1] Contracts and Collaborations - Chinalco International signed overseas project contracts worth approximately 14 billion yuan [2] - Tianqi Lithium has completed a strategic cooperation with SQM and Codelco [2] - Roman Co., Ltd.'s subsidiary signed a 156 million yuan computing power service project contract [2] - China Duty Free Group's wholly-owned subsidiary signed a duty-free project contract at Beijing Capital International Airport [2] - Reascend Technology's high-silica fiber has begun commercial cooperation with a well-known international aerospace company for long-term product supply [2] - Macro Micro Technology signed a strategic cooperation agreement with a leading domestic transmission company, focusing on GaN power semiconductor devices [2] Capital Operations - Tianqi Co., Ltd. plans to raise no more than 977 million yuan through a private placement for the development of a robot embodiment intelligence system for the automotive industry [2] - SMIC's registered capital in SMIC Southern will increase to $10.077 billion; it plans to acquire 49% equity in SMIC Northern for 40.6 billion yuan [2] - Changan Automobile intends to raise no more than 6 billion yuan through a private placement [2] Share Buybacks - Kweichow Moutai's controlling shareholder, Moutai Group, has cumulatively increased its stake in the company by 3 billion yuan, completing the buyback plan [3] - AVIC Heavy Machinery has been supplying key forgings to several commercial rocket companies [3] - Huihan Co., Ltd. invested 68.25 million yuan to establish a private equity fund, specifically investing in a commercial aerospace company [3] - Sega Technology plans to increase its investment in optical module company Guangcai Xincheng by 275 million yuan to acquire a 20% stake [3]

Core Viewpoint - The report highlights the changes in the Hong Kong Stock Connect holdings, indicating significant increases and decreases in ownership percentages for various companies, which may signal investment trends and market sentiment. Group 1: Increased Holdings - Zhejiang Shibao (01057) saw the largest increase in holdings, up by 2.33%, bringing the total to 57.54% [1][2] - Changfei Fiber Optic Cable (06869) experienced a 1.79% increase, with a new holding percentage of 58.13% [1][2] - Chalco International (02068) had a 1.19% increase, resulting in a holding percentage of 22.13% [1][2] - Other notable increases include Beijing Beichen Industrial (00588) and Junsheng Electronics (00699), both up by 1.03% [2] Group 2: Decreased Holdings - Shandong Molong (00568) faced the largest decrease, down by 1.38%, now holding 50.49% [1][2] - Zhaoyan New Drug (06127) saw a reduction of 1.22%, with a current holding of 56.82% [1][2] - Tianqi Lithium (09696) decreased by 1.01%, bringing its holding to 37.42% [1][2] - Other significant decreases include Jinyi Yongci (06680) and Zhongyuan Jianye (09982), down by 0.64% and 0.55% respectively [2] Group 3: Five-Day Changes - Over the last five trading days, Lion Holdings (02562) had the highest increase at 3.06%, with a holding of 46.20% [1][3] - Changfei Fiber Optic Cable (06869) increased by 2.58%, maintaining a holding of 58.13% [1][3] - Junsheng Electronics (00699) rose by 2.47%, now at 11.24% [1][3] - Conversely, Shandong Molong (00568) and Yihua Tong (02402) both decreased by 2.47% [1][3] Group 4: Twenty-Day Changes - Ji Hong Co. (02603) had the largest increase over twenty days, up by 21.54%, with a holding of 54.58% [1][4] - Lion Holdings (02562) also saw a significant increase of 21.40%, now at 46.20% [1][4] - Red Star Macalline (01528) increased by 8.04%, holding 51.70% [1][4]

Group 1 - The core point of the article is the partnership agreement signed between Sociedad Química y Minera de Chile S.A. (SQM) and Corporación Nacional del Cobre de Chile (Codelco) to develop lithium and potassium resources in the Atacama salt flat, which involves the merger of Codelco's subsidiary Minera Tarar into SQM's subsidiary Salar S.A. [2] - The agreement establishes the rights and obligations of both parties and aims to enhance the production and subsequent sales of lithium and other products [2]. - The Chilean Financial Market Commission (CMF) ruled that the partnership agreement should be analyzed and decided by SQM's board rather than a special shareholders' meeting, rejecting a request for an injunction from Tianqi Lithium's subsidiary [3][4]. Group 2 - Tianqi Lithium's subsidiary filed an administrative review against the CMF's decision, which was later rejected, leading to a lawsuit filed in Chilean court [5][6]. - On December 27, 2025, SQM announced the completion of its strategic cooperation with Codelco, with the joint venture named Nova Andino Litio SpA, although it remains subject to a condition pending a ruling from the Chilean Supreme Court regarding Tianqi Lithium's appeal [7]. - The partnership agreement is expected to impact the investment returns and dividend amounts that the company holds in SQM, with ongoing assessments of its financial implications [8].

证券日报网讯12月29日，天齐锂业（002466）在互动平台回答投资者提问时表示，公司持续关注智利的 政治与营商环境变化，并充分尊重智利政府在自然资源开发的主权和政策安排。公司将严格遵守当地法 律法规，尊重政府的决策和进程。同时，公司也将依法、合规维护自身及作为股东在智利投资中的合法 权益。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Tianqi Lithium Corporation 天齊鋰業股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：9696） 公司重要參股公司簽署重大合同之進展情況 茲提述天齊鋰業股份有限公司（「本公司」或「公司」）日期為2024年6月3日、2024 年6月19日、2024年7月29日、2025年11月12日及2025年11月24日之公告（「該等 公告」），內容有關本公司重要參股公司SQM與Codelco簽署合夥協議及本公司全 資子公司提起訴訟的事宜。除非文義另有所指，本公告所用詞彙與該等公告所界 定者具有相同涵義。 對公司的影響 根據SQM的公告，交易仍受一項解除性條件約束，即有待智利最高法院就公司全 資子公司天齊智利提起的上訴作出裁決。 進展情況 智利當地時間2025年12月27日，SQM披露稱已完成其與Codelco之間的戰略合 作，合營公司SQM Salar名稱將變更為Nova ...

证券日报网讯 12月29日，天齐锂业在互动平台回答投资者提问时表示，为减少公司主营产品价格波动 对公司经营带来的潜在风险，公司建立了较为完善的商品期货套期保值管理制度，并配备了相应的专业 管理团队。公司董事会于2025年3月审议通过了《关于开展碳酸锂商品期货套期保值业务的议案》。期 货交易保证金和权利金上限（包括为交易而提供的担保物价值、预计占用的金融机构授信额度、为应急 措施所预留的保证金等）不超过人民币2亿元，任一交易日持有的最高合约价值不超过人民币8亿元（含 前述交易的收益进行再交易的相关金额）。该额度在有效期限内可循环滚动使用。在具体执行层面，公 司坚持根据实际生产经营及业务需求为基础，对碳酸锂现货的价格波动进行套期，结合碳酸锂现货的风 险敞口和市场环境变化，审慎评估是否开展套期保值及调整碳酸锂期货合约持仓量。公司套期保值业务 的具体开展情况及相关损益情况，敬请关注公司后续披露的《2025年年度报告》。 （编辑 丛可心） ...

Core Viewpoint - Tianqi Lithium's significant investment in SQM is influenced by the strategic partnership between SQM and Codelco, which has progressed but remains subject to legal challenges [1][2]. Group 1: Strategic Partnership Developments - SQM and Codelco have completed key advancements in their strategic partnership, with the joint venture named Nova Andino Litio SpA, although it is still bound by conditions from the Chilean Supreme Court [1]. - The partnership agreement signed on May 31, 2024, allows for the integration of Codelco's subsidiary into SQM, extending SQM's lithium extraction rights in the Atacama salt flat from 2030 to 2060, with plans to increase production by 300,000 tons of lithium carbonate equivalent (LCE) between 2025 and 2030 [1]. Group 2: Financial Implications - The strategic partnership's A and B class shares will take effect from January 1, 2025, impacting dividend distribution and core economic rights [2]. - The completion of the transaction will affect Tianqi Lithium's investment returns and dividends from its long-term equity stake in SQM, although the specific financial impact cannot be estimated until SQM's 2025 consolidated financial statements are available [2]. Group 3: Legal and Governance Concerns - Tianqi Lithium's subsidiary has raised objections to the partnership, leading to a series of legal proceedings, including an appeal to the Chilean Supreme Court after lower courts dismissed its claims [1]. - The partnership may lead to uncertainties regarding Tianqi Lithium's governance rights and the potential dilution of its influence over SQM, particularly after 2031 when SQM may lose control over its core lithium business [3].