Group 1 - Tianqi (Yajiang) Mining Co., Ltd. has been established, with Guo Wei as the legal representative [1] - The company's business scope includes non-coal mining resource extraction, common non-ferrous metal smelting, metal ore sales, and mineral processing [1] - Tianqi Lithium (002466) holds 100% ownership of the newly established company [1]

A股能源金属板块走高，腾远钴业涨超10%，赣锋锂业、天齐锂业、永杉锂业、融捷股份、盛新锂能等 跟涨。消息面上，刚果金政府宣布延长3个月钴的临时禁令，全球钴供应量或将大幅下降。 ...

Group 1 - The core viewpoint of the news is that the China Securities New Energy Vehicle Index has experienced a decline, reflecting the overall performance of listed companies in the new energy vehicle sector [1][2]. - The China Securities New Energy Vehicle Index has decreased by 4.15% in the past month, 12.37% in the past three months, and 0.15% year-to-date [2]. - The index includes companies involved in lithium batteries, charging piles, and new energy vehicles, with a base date of December 31, 2011, set at 1000.0 points [2]. Group 2 - The top ten weighted companies in the index are: CATL (9.97%), BYD (9.96%), Huichuan Technology (9.81%), Changan Automobile (5.17%), Sanhua Intelligent Control (4.7%), Yiwei Lithium Energy (4.34%), Huayou Cobalt (4.07%), Ganfeng Lithium (2.91%), Greenmech (2.62%), and Tianqi Lithium (2.55%) [2]. - The index's holdings are primarily listed on the Shenzhen Stock Exchange (84.23%), followed by the Shanghai Stock Exchange (15.18%) and the Beijing Stock Exchange (0.59%) [2]. - The industry composition of the index holdings includes 58.87% in industrials, 24.47% in consumer discretionary, 15.49% in materials, and 1.16% in information technology [2]. Group 3 - The index samples are adjusted every six months, with adjustments implemented on the next trading day after the second Friday of June and December [3]. - Weight factors are generally fixed until the next scheduled adjustment, with special circumstances allowing for temporary adjustments [3]. - Companies that are delisted or undergo mergers, acquisitions, or splits are handled according to specific calculation and maintenance guidelines [3].

川西锂矿又有新进展。《每日经济新闻》记者注意到，天齐锂业（SZ002466，股价29.9元，市值490.7 亿元）子公司和宁德时代（SZ300750，股价245.57元，市值1.12万亿元）子公司在6月12日共同设立了 两家子公司，一家涉及尾矿项目，另一家涉及供水业务。至此，宁德时代和天齐锂业在"电、水、矿"三 大层面均形成合作。 对于锂矿开采而言，"电、水以及尾矿处理"均是出矿的前置条件。 一家主要涉及尾矿项目 6月12日，四川慕云泽矿业有限责任公司（以下简称慕云泽）成立。天眼查显示，该公司由天齐锂业子 公司四川天齐盛合锂业有限公司（以下简称盛合锂业）、宁德时代子公司雅江县斯诺威矿业发展有限公 司（以下简称斯诺威）共同持股。慕云泽注册资本5亿元，经营范围包括选矿、非金属矿及制品销售 等。 《每日经济新闻》记者注意到，慕云泽的董事长、法定代表人为孔策，他是天齐锂业负责四川雅江措拉 锂辉石矿（以下简称措拉矿）开采的关键管理人员之一。慕云泽还有一名董事叫王卫娜，她主要处理天 齐锂业ESG（环境、社会和公司治理）项目。最近一年以来，天齐锂业都很重视国内矿的开采，既要锂 资源在外，也寻求锂资源在内。 慕云泽的注册地址 ...

Core Viewpoint - The establishment of two joint ventures by Tianqi Lithium and CATL marks significant progress in lithium mining operations in Sichuan, focusing on mining, water supply, and tailings management [2][4][7]. Group 1: Joint Ventures and Operations - Tianqi Lithium's subsidiary and CATL's subsidiary jointly established Sichuan Muyunze Mining Co., Ltd. on June 12, with a registered capital of 500 million yuan, focusing on mining and non-metallic mineral sales [4][5]. - The joint venture, Sichuan Muyunze, is strategically located near Tianqi Lithium's Zuo La lithium mine, which is part of a world-class lithium mineralization belt with over 6.5 million tons of identified resources [5][6]. - Another joint venture, Sichuan Miaowei Water Co., Ltd., was also established on June 12, with a registered capital of 200 million yuan, focusing on water production and supply [7]. Group 2: Infrastructure and Collaboration - The collaboration between Tianqi Lithium and CATL encompasses essential infrastructure for lithium mining, including electricity, water, and tailings management, which are critical for mining operations [3][7]. - In July 2023, Zijin Mining acquired a 20% stake in Tianqi Lithium's subsidiary, enhancing its mining capabilities and accelerating lithium extraction processes [6]. - A cooperation agreement was signed in March 2022 among Tianqi Lithium, CATL, and Huirong Mining for the construction and operation of a 220kV power supply project, indicating substantial progress in mining infrastructure [6]. Group 3: Market Context - The lithium carbonate market is currently experiencing price fluctuations, with futures prices dropping below 60,000 yuan per ton as of late May [8].

Group 1: Ganfeng Lithium - Ganfeng Lithium has established a closed-loop lithium ecosystem with an integrated layout across upstream lithium resource development, midstream lithium salt processing, and downstream lithium battery manufacturing and recycling [1][2] - The company has a lithium salt production capacity of over 150,000 tons LCE domestically and an additional 40,000 tons LCE from the Cauchari lithium salt lake in Argentina, totaling nearly 200,000 tons LCE [1][2] - Ganfeng Lithium is expanding its lithium salt processing capacity to meet growing demand while maintaining risk control and effective inventory management [1][2] Group 2: Tianqi Lithium - Tianqi Lithium focuses on strategic resource layout in China, Australia, and Chile, aiming to build leading-scale lithium compound production bases [6][7] - The company has a lithium concentrate production capacity of 162,000 tons per year at the Greenbushes lithium mine, with plans for further expansions [7] - Tianqi Lithium holds a 22.16% stake in SQM, the largest lithium salt lake producer globally, which enhances its investment returns [9] Group 3: Salt Lake Potash - Salt Lake Potash has a chlorate potassium production capacity of 5 million tons per year, playing a crucial role in stabilizing the potassium fertilizer market [11] - The company has a current lithium carbonate production capacity of 30,000 tons per year, with plans for a new integrated lithium salt project with a capacity of 40,000 tons per year [12] Group 4: Yongxing Materials - Yongxing Materials has established a dual business model of "new materials + new energy," optimizing its entire industry chain to reduce costs and enhance competitiveness [14][15] - The company has achieved a carbon lithium production cost of 50,000 yuan per ton, with expectations for further cost optimization [14] Group 5: Zhongjin Lingnan - Zhongjin Lingnan has diversified its operations into lithium and other mineral resources, with a focus on reducing costs in its lithium mining operations [16][17] - The company has significant lithium resources in Canada and Zimbabwe, with plans for further capacity expansions [18] Group 6: Self-owned Lithium Mines - The company has three production bases with a total lithium salt processing capacity of approximately 73,000 tons, with plans for further expansions [21] - The company has secured priority supply rights for the Li family lithium mine, which has a lithium oxide resource of approximately 50,220 tons [21][22] Group 7: Shengxin Lithium Energy - Shengxin Lithium Energy has established four major lithium resource layouts and five lithium product production bases, positioning itself as a leading player in the domestic lithium market [23][24] - The company has a lithium carbonate production capacity of 42,000 tons per year, with ongoing projects to increase capacity [25][26]

天眼查App显示，近日，成都天齐锂业（002466）有限公司发生工商变更，注册资本由25亿人民币增至 87亿人民币，增幅248%。该公司成立于2014年8月，法定代表人为夏浚诚，经营范围包括金属矿石销 售、电子专用材料销售、化工产品销售、专用化学产品制造、资源再生利用技术研发、新能源汽车废旧 动力蓄电池回收及梯次利用等，由天齐锂业全资持股。 ...

港股锂电池股震荡上升，中国石墨(02237.HK)涨超43%，赣锋锂业(01772.HK)涨超4%，比亚迪股份 (01211.HK)、天齐锂业(09696.HK)涨超3%。 ...

Core Viewpoint - Sulfide solid electrolytes are emerging as a promising material for all-solid-state batteries due to their high ionic conductivity, good flexibility, and excellent machinability [1] Production Challenges - The production of lithium sulfide, a key raw material for sulfide solid electrolytes, faces challenges such as complex synthesis processes requiring high temperatures and inert gas protection, leading to increased processing costs [2] - Chemical side reactions between solid electrolytes and battery electrodes may affect the stability of the battery interface [2] Industry Developments - Companies are actively investing in the production of lithium sulfide to meet market demand. For instance, Idemitsu Kosan plans to achieve an annual production of 1,000 tons of lithium sulfide by 2027-2028 [3] - In China, several companies, including Ganfeng Lithium, have made significant progress in this field [3] Company Summaries - **Ganfeng Lithium**: Achieved mass production capability of battery-grade lithium sulfide in 2022 and plans to expand production lines in 2024. Their lithium sulfide products have a purity of 99.9% and D50 ≤ 5μm, meeting the technical requirements for high-conductivity solid electrolyte materials [4] - **Enjie Co., Ltd.**: Since 2021, has been collaborating with Central South University to develop low-cost, high-purity lithium sulfide products. They have established a ton-level pilot line and completed debugging of a hundred-ton intermediate production line [5] - **Tianqi Lithium**: Announced completion of industrialization preparations for lithium sulfide by May 2025, with significant improvements in uniformity and activity of their new battery-grade lithium sulfide micro-powder [6] - **Sichuan Wanbang New Energy**: Established in 2019, has production capabilities for lithium sulfide and plans to build a demonstration line with an annual capacity of 200 tons of high-purity lithium sulfide [7] - **Tianhua New Energy**: Engaged in research and development of sulfide solid electrolytes and low-cost ultra-pure lithium sulfide, with ongoing testing of their products [8] - **Guanghua Technology**: Plans to expand its lithium sulfide production capacity from 300 tons/year to 3,000 tons/year based on market demand [9] - **Xiamen Tungsten**: Developing new synthesis processes for lithium sulfide, showing promising results in pilot tests [10] - **Yanyi New Materials**: Launched lithium sulfide products in August 2024, gaining recognition from leading domestic companies and research teams [11] - **Taihe Technology**: Currently in the small-scale testing phase for lithium sulfide synthesis technology [12]

Core Viewpoint - The global lithium battery industry is undergoing a significant transformation, moving away from a period of rapid growth to a phase of contraction, particularly as it approaches 2024, indicating an unprecedented downturn in the sector [1]. Industry Overview - Over the past two decades, China's lithium battery sector has achieved substantial breakthroughs in technology innovation, globalization, and industry investment, capturing a dominant global market share in various key areas, including approximately 70% of global power battery shipments and over 90% of energy storage battery shipments [1]. - The lithium battery industry is now facing a downturn, with a reported 11.87% decline in overall revenue for 108 Chinese lithium battery companies in 2024 compared to the previous year, alongside a staggering 67.27% drop in net profit [1][3]. Financial Performance - Key financial metrics for 2024 include: - Total assets: 29,092.41 million, up 6.17% year-on-year - Total liabilities: 16,721.07 million, up 7.31% year-on-year - Operating revenue: 13,028.84 million, down 11.87% year-on-year - Net profit attributable to shareholders: 651.92 million, down 67.27% year-on-year - Net financing cash flow: 210.20 million, down 81.91% year-on-year [3]. Market Dynamics - Major players in the industry, including CATL, Ganfeng Lithium, and Tianqi Lithium, are experiencing significant revenue declines, with CATL reporting a 9.7% drop in revenue for 2024, and other companies seeing declines of over 50% in their lithium product revenues [4][5]. - The global lithium battery landscape is shifting, with even leading companies facing severe impacts, as evidenced by the financial struggles of major Korean battery manufacturers and the bankruptcy filing of Ambri Inc. in the U.S. [5][6]. Investment Trends - The investment landscape is changing, with a notable halt or delay in large-scale lithium battery projects. Over 30 lithium battery business terminations have been reported in 2023 alone, involving investments exceeding 100 billion yuan [9]. - The global lithium battery industry is witnessing a retreat from previous aggressive expansion, with significant projects being canceled or postponed, such as LG Group's withdrawal from a planned electric vehicle battery ecosystem in Indonesia [9][10]. Future Outlook - The lithium battery industry is entering a new phase characterized by competition based on technological strength and operational efficiency rather than mere expansion. Companies that can demonstrate continuous innovation, effective capacity management, and strong financial health are likely to thrive in this evolving landscape [11].