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） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第 13.10B 條刊發。 茲載列天齊鋰業股份有限公司（「本公司」）在深圳證券交易所網站(http://www.szse.cn/) 刊發的《關於公司全資子公司與專業投資機構共同投資合夥企業的公告》如下，僅供參閱。 承董事會命 天齊鋰業股份有限公司 董事長兼執行董事 蔣安琪 香港，2025年10月22日 於本公告日期，本公司董事會由以下成員組成：執行董事蔣安琪女士、蔣衛平先生、夏浚 誠先生及鄒軍先生；及獨立非執行董事向川先生、唐國瓊女士、黃瑋女士及吳昌華女士。 股票代码：002466 股票简称：天齐锂业 公告编号：2025-050 天齐锂业股份有限公司 1、基本情况 | 机构名称 | 安徽隐齐企业管理有限 ...

Core Viewpoint - Tianqi Lithium announced the establishment of a new partnership for investment in a limited partnership, with a total subscribed capital of 500 million RMB, where Tianqi Lithium's subsidiary will contribute 250 million RMB, representing 50% of the total subscribed capital [1] Group 1 - Tianqi Lithium's wholly-owned subsidiary, Chengdu Tianqi Lithium Co., Ltd., signed a partnership agreement with multiple entities to establish Anhui Yinshi Tianqi Shuangxin Equity Investment Partnership (Limited Partnership) [1] - The total subscribed capital for the partnership is 500 million RMB, with Tianqi Lithium contributing 250 million RMB [1] - The partnership will not be included in the company's consolidated financial statements [1]

股票代码：002466 股票简称：天齐锂业 公告编号：2025-050 天齐锂业股份有限公司 关于公司全资子公司与专业投资机构共同投资合伙企业的公告 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、对外投资概述 为了加深天齐锂业股份有限公司（以下简称"公司"）与新材料、新能源产业链的 合作，开展业务拓展新的触角和反馈，深化公司在践行垂直一体化发展战略的同时探索 产业链循环发展的机会，公司全资子公司成都天齐锂业有限公司（以下简称"成都天齐"） 于 2025 年 10 月 22 日与安徽隐齐企业管理有限公司（以下简称"安徽隐齐"）、珠海 隐湾投资咨询有限公司（以下简称"珠海隐湾"）、安徽省新材料产业主题投资基金合 伙企业（有限合伙）（以下简称"安徽新材料母基金"）、明光市嘉元投资有限公司（以 下简称"明光投资"）签署了《安徽隐山天齐双新股权投资合伙企业（有限合伙）合伙 协议》（以下简称"《合伙协议》"）及相关协议，拟共同出资设立安徽隐山天齐双新 股权投资合伙企业（有限合伙）（以下简称"合伙企业"或"基金"）。合伙企业总认 缴出资额为 5 亿元人民币，公司全资子 ...

Core Viewpoint - The Hong Kong lithium battery stocks experienced a significant rise, driven by strong performance from companies like CATL and BYD Electronics, alongside positive developments in the domestic energy storage market and advancements in solid-state battery technology [1][2]. Company Performance - CATL reported a net profit attributable to shareholders of 18.55 billion RMB for Q3 2025, marking a substantial year-on-year increase of 41.21% [1]. - The company's revenue reached 104.19 billion RMB, reflecting a year-on-year growth of 12.90% [1]. - Other companies such as BYD Electronics, Zhongxin Innovation, and Tianqi Lithium also saw stock price increases, with BYD Electronics rising by 3.5% and Zhongxin Innovation by nearly 2% [2]. Industry Developments - The introduction of the domestic energy storage policy (Document No. 136) has led to rapid growth in the domestic energy storage market, as provinces roll out related guidelines [1]. - Solid-state batteries are highlighted as a key technological direction for the next generation of lithium batteries, with significant application potential in sectors like new energy vehicles and low-altitude economy [1].

Core Viewpoint - The Hong Kong lithium battery stocks experienced a significant rally on October 21, with notable increases in share prices for several key companies in the sector [1] Company Summaries - Contemporary Amperex Technology Co., Ltd. (CATL) saw its stock price rise over 6% at the beginning of trading [1] - BYD Electronics reported a stock increase of 3.5% [1] - Zhongchuang Innovation Holdings experienced a nearly 2% rise in its stock price [1] - Other companies such as Tianneng Power, Ganfeng Lithium, Tianqi Lithium, and BYD Company all recorded stock price increases of over 1% [1]

Group 1 - The core viewpoint of the article highlights the significant rise in Hong Kong lithium battery stocks, particularly with companies like CATL and BYD Electronics showing notable gains [1] - CATL reported a net profit attributable to shareholders of 18.55 billion RMB for Q3 2025, marking a substantial year-on-year increase of 41.21%, while its revenue reached 104.19 billion RMB, up 12.90% year-on-year [1] - The company indicated that the domestic energy storage market is expected to experience rapid growth following the issuance of the 136 document on energy storage [1] Group 2 - Solid-state batteries are identified as a key technological direction for the next generation of lithium batteries, with broad application prospects in new energy vehicles and low-altitude economy sectors [1] - Recent advancements by Chinese scientists in solid-state battery technology have been reported, indicating progress in this cutting-edge field [1] Group 3 - The stock performance of various lithium battery companies is noted, with CATL rising over 6%, BYD Electronics up 3.5%, and other companies like Zhongxin Innovation, Tianneng Power, Ganfeng Lithium, Tianqi Lithium, and BYD Co. all showing gains of over 1% [1]

Core Viewpoint - Sichuan's Shehong City is leveraging a quality-driven strategy to enhance the lithium battery industry, aiming to establish itself as a benchmark for high-quality development in the sector [1][8]. Group 1: Quality Infrastructure Development - The establishment of the National Lithium Battery Materials and Products Quality Inspection Center in Shehong positions it as the only national-level quality inspection center covering the entire lithium battery industry chain in Southwest China [2]. - The center operates under a collaborative model involving three parties and aims to provide comprehensive testing services, including material analysis and safety assessments, with the first phase set to launch in June 2024 [2][3]. - Since its trial operation in March 2024, the center has provided over 500 batches of testing services, benefiting both local and external companies, and has introduced a cost-sharing mechanism to lower R&D expenses for small and medium-sized enterprises [2][3]. Group 2: Standardization and Research - Tianqi Lithium has taken the lead in proposing industry standards for battery-grade lithium carbonate and has been involved in drafting international standards, addressing the lack of unified terminology in the global lithium battery industry [4]. - The company has conducted extensive research and consultations to develop the "Lithium Terminology" international standard, which will facilitate global trade and technical exchanges in the lithium sector [4][5]. - Shehong enterprises have participated in the formulation of 17 national standards and 41 industry standards, supported by local regulatory bodies to transition from passive to active standard-setting [5]. Group 3: Brand and Green Development - Shehong has implemented a support system for brand cultivation and green development, providing incentives for award-winning companies and fostering a "1+N" brand matrix in the lithium industry [7]. - The region promotes the "Shehong Lithium" brand through participation in domestic and international exhibitions and hosting the International Lithium Battery Industry Conference to enhance its global recognition [7]. - A comprehensive recycling system has been established, achieving an annual processing capacity of 20,000 tons of waste batteries with a lithium recovery rate exceeding 85%, aligning with international standards for sustainable development [7][8]. Group 4: Economic Impact and Future Plans - The lithium battery industry in Shehong has become a core growth driver for the local economy, with 39 related enterprises and a total output value of 44.82 billion yuan, accounting for 75.6% of the city's industrial output [8]. - The city aims to deepen its quality-driven strategy and enhance its lithium battery industry by advancing the second phase of the National Lithium Battery Quality Inspection Center and establishing a comprehensive quality improvement system [8].

Core Viewpoint - Tianqi Lithium's stock price has experienced fluctuations, with a year-to-date increase of 38.21% but a recent decline of 8.36% over the past five trading days [1] Group 1: Stock Performance - As of October 20, Tianqi Lithium's stock price was 45.61 CNY per share, with a market capitalization of 748.56 billion CNY [1] - The company has seen a trading volume of 13.85 billion CNY, with a turnover rate of 2.02% [1] - Year-to-date, Tianqi Lithium's stock has risen by 38.21%, while it has decreased by 8.36% in the last five trading days [1] Group 2: Financial Performance - For the first half of 2025, Tianqi Lithium reported a revenue of 4.833 billion CNY, a year-on-year decrease of 24.71%, while net profit attributable to shareholders was 84.41 million CNY, an increase of 101.62% [2] Group 3: Shareholder Information - As of June 30, 2025, Tianqi Lithium had 270,800 shareholders, a decrease of 6.08% from the previous period [2] - The average number of circulating shares per shareholder increased by 6.45% to 5,451 shares [2] - The company has distributed a total of 7.868 billion CNY in dividends since its A-share listing, with 7.137 billion CNY distributed in the last three years [3] Group 4: Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited was the fourth-largest circulating shareholder, holding 64.82 million shares, an increase of 8.6965 million shares from the previous period [3] - Other notable institutional shareholders include China Securities Finance Corporation and various ETFs, all of which have increased their holdings [3]

Investment Rating - The investment rating for the non-ferrous metals industry is "Positive" (maintained) [3] Core Views - The report anticipates a potential upward trend in copper prices due to expected shortages in copper mines, particularly with the global second-largest copper mine, Grasberg, facing production halts. The report suggests that the copper supply-demand balance may shift from tight equilibrium to shortage by 2026 [4] - The report highlights the performance of various metals, including aluminum, lithium, and cobalt, with specific recommendations for companies to watch in each segment [4] Summary by Sections 1. Industry Overview - Recent macroeconomic developments include a new round of US-China trade negotiations and comments from Trump regarding the unsustainability of high tariffs on China [8] 2. Market Performance - The overall performance of the non-ferrous metals sector saw a decline, with the Shanghai Composite Index down 1.47% and the Shenwan Non-Ferrous Metals Index down 3.07%, underperforming the Shanghai Composite by 1.60 percentage points [10][11] 3. Valuation Changes - The PE_TTM for the Shenwan Non-Ferrous Metals Index is 26.96, down 1.78 from the previous week, while the PB_LF is 3.22, down 0.22 [19][22] 4. Copper - Copper prices have seen a decline, with LME copper down 1.86% and SHFE copper down 1.77%. However, the report indicates a potential for price recovery due to supply disruptions and seasonal demand [21][44] 5. Aluminum - Aluminum prices are experiencing fluctuations, with LME aluminum down 0.45% and SHFE aluminum down 0.47%. The report notes a decrease in inventory levels, which may support price stability [33][44] 6. Lithium - Lithium prices are showing mixed trends, with lithium carbonate down 0.27% and lithium spodumene up 0.83%. The report suggests that lithium prices may stabilize due to seasonal demand [73] 7. Cobalt - Cobalt prices have increased, with MB cobalt up 5.40% to $20.98 per pound, driven by changes in export regulations from the Democratic Republic of Congo [86]

Core Insights - The article highlights the rapid development and transformation of the manufacturing and technology sectors in Sichuan, particularly focusing on the automotive and high-tech industries, driven by significant investments and strategic planning [1][5][13]. Group 1: Automotive Industry - The Chengdu plant of FAW-Volkswagen is utilizing nearly a thousand robots to produce vehicles, achieving a production time of 55 seconds per vehicle [1]. - FAW-Volkswagen is investing in the modernization of its production lines to enhance smart, digital, and flexible manufacturing capabilities [1][7]. - The company is focusing on integrating 5G, IoT, and digital twin technologies to create a "smart factory" that can adapt to market changes [6][7]. Group 2: High-Tech and Innovation - The Mianyang Photon Technology Research Institute acts as an incubator for high-tech projects, successfully launching seven projects, including a deep low-temperature temperature sensor that reduces costs by 50% compared to imports [2][4]. - The institute aims to support the development of a 50 billion yuan industry scale in the photon technology sector by 2030 [2]. - Sichuan is positioning itself as a leader in emerging industries such as quantum technology and controlled nuclear fusion, leveraging its rich rare earth resources [5][6]. Group 3: Investment and Economic Growth - Sichuan's government has emphasized the importance of project implementation to drive economic growth, with significant progress in key projects and investments [13][16]. - As of August, Sichuan has achieved an investment completion rate of 84.6% for key projects, contributing to a 0.9% year-on-year growth in fixed asset investment [13]. - The province's industrial output has seen substantial growth, with lithium-ion batteries increasing by 54.1% and automotive production by 35.5% [13]. Group 4: Lithium Industry - Tianqi Lithium, a major player in lithium production, has established a comprehensive supply chain in Sichuan, with a production capacity of approximately 91,600 tons per year [7][11]. - The lithium battery industry in Suining is projected to reach a scale of 670 billion yuan, accounting for a quarter of the province's lithium battery sector [11][12]. - The region is developing a complete lifecycle industry chain for lithium resources, attracting over 50 upstream and downstream enterprises [8][11]. Group 5: Regional Development and Collaboration - Sichuan has formed a collaborative development model among cities like Yibin, Chengdu, Suining, and others, enhancing the overall industrial ecosystem [12]. - The province is focusing on strengthening key industrial chains, particularly in artificial intelligence, aerospace, and new energy sectors [6][12]. - The rapid project execution in Suining, exemplified by the "signing immediately starts construction" approach, has led to a significant increase in project agreements and investments [16][17].