Core Viewpoint - The recent surge in the non-ferrous metal sector is driven by a significant policy announcement aimed at stabilizing growth in the industry, leading to a notable increase in stock prices for related companies in both Hong Kong and A-shares markets [3][4]. Group 1: Market Performance - In the Hong Kong stock market, several non-ferrous metal companies saw substantial gains, including Zijin Mining (+5.60%), Ganfeng Lithium (+5.37%), and China Aluminum International (+5.29%) [1]. - A-shares also experienced a positive trend, with companies like Yicheng New Energy and Boqian New Materials hitting the daily limit up, and Hengdian East Magnetic rising by 6.16% [2]. Group 2: Policy Impact - The Ministry of Industry and Information Technology, along with eight other departments, released the "Non-Ferrous Metal Industry Stabilization Growth Work Plan (2025-2026)", projecting an average annual growth of around 5% in the industry's added value and a 1.5% increase in the production of ten major non-ferrous metals [3]. - The plan addresses current challenges in the industry, proposing ten initiatives focused on resource security, supply optimization, transformation promotion, consumption expansion, and strengthening cooperation [3]. Group 3: Industry Outlook - The non-ferrous metal industry is showing strong performance, with a reported 7.8% year-on-year increase in the added value of large-scale non-ferrous metal industries from January to August 2025, outpacing the overall industrial growth [3]. - Analysts from various institutions express optimism about the sector's future, citing factors such as potential interest rate cuts by the Federal Reserve and seasonal demand increases in the aluminum and lithium markets [5].

Battery - Chuangneng New Energy launched a new generation 588Ah energy storage battery with an energy density of 190Wh/kg and a volume energy density of 419Wh/L, achieving an energy efficiency of 96.5%. The company plans to have over 200GWh of production capacity, with small-scale production expected in Q2 2026 and full-scale production in Q3 2026 [1] - EVE Energy's first large-capacity sodium-ion battery energy storage system has successfully entered commercial operation, featuring a cycle life of over 30,000 times and operational capabilities in a temperature range of -40℃ to +60℃, significantly reducing lifecycle carbon emissions by over 42% compared to lithium-ion batteries [2][3] Materials - Greenme's Qingmeibang park has opened a nickel electroplating production line with an annual capacity of 30,000 tons, achieving a nickel plate product purity of over 99.97%, contributing to a total global production capacity of 60,000 tons for Greenme [5][6] - Tianqi Lithium's battery-grade lithium hydroxide project, with a total investment of approximately 1.8 billion yuan, has been completed and put into production in Jiangsu Zhangjiagang Free Trade Zone [7] - Tibet Mining's battery-grade lithium carbonate project has officially commenced production, utilizing a complex membrane separation and MVR lithium extraction process, marking a significant achievement in challenging high-altitude conditions [8] Equipment - Mannesmann has completed the dual-line product layout for solid-state batteries, with multiple devices shipped and customer validation achieved [10] Battery Recycling - A project for processing waste lithium batteries has been publicly announced, aiming to handle approximately 11,000 tons of waste batteries annually using a low-temperature physical crushing technology developed by Southern University of Science and Technology, which avoids the pollution and high energy consumption associated with traditional methods [11]

Group 1 - Tianqi Lithium's 30,000-ton battery-grade lithium hydroxide project has been completed, with a ceremony held on September 25 [1] - The project is located in the Zhangjiagang Free Trade Zone, specifically in the Jiangsu Yangtze River International Chemical Industrial Park [1] - This facility is Tianqi Lithium's second fully automated battery-grade lithium hydroxide (lithium carbonate) plant in Zhangjiagang [1]

9月26日，天齐锂业盘中上涨2.46%，截至10:28，报45.79元/股，成交12.61亿元，换手率1.92%，总市值 751.52亿元。 资金流向方面，主力资金净流出5929.36万元，特大单买入6448.05万元，占比5.11%，卖出9326.11万 元，占比7.40%；大单买入2.59亿元，占比20.54%，卖出2.89亿元，占比22.96%。 天齐锂业今年以来股价涨38.76%，近5个交易日涨1.73%，近20日涨4.16%，近60日涨41.46%。 今年以来天齐锂业已经2次登上龙虎榜，最近一次登上龙虎榜为8月11日，当日龙虎榜净买入3.81亿元； 买入总计6.63亿元 ，占总成交额比17.81%；卖出总计2.82亿元 ，占总成交额比7.57%。 天齐锂业所属申万行业为：有色金属-能源金属-锂。所属概念板块包括：化肥、盐湖提锂、固态电池、 锂电池、小金属等。 截至6月30日，天齐锂业股东户数27.08万，较上期减少6.08%；人均流通股5451股，较上期增加6.45%。 2025年1月-6月，天齐锂业实现营业收入48.33亿元，同比减少24.71%；归母净利润8441.06万元，同比增 长101.6 ...

Tianqi Lithium Corporation (A joint stock company incorporated in the People's Republic of China with limited liability) 喍͚㤜ϧℾڞহస㽨ڷ⮱⿸㗎Ъᰶ䭽ڙथ喎 Stock Code 㗎ЪА㮌: 9696 中期報告 INTERIM REPORT 2025 目錄 Contents 02 釋義 DEFINITIONS 10 公司資料 CORPORATE INFORMATION 13 財務摘要 FINANCIAL HIGHLIGHTS 15 管理層討論及分析 MANAGEMENT DISCUSSION AND ANALYSIS 119 企業管治及其他資料 CORPORATE GOVERNANCE AND OTHER INFORMATION 162 未經審核中期財務報表 UNAUDITED INTERIM FINANCIAL STATEMENTS 170 未經審核中期財務報告附註 NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT 釋義 DEFINITIO ...

Core Viewpoint - Tianqi Lithium Industry emphasizes the positive long-term relationship between social responsibility practices and economic benefits, despite short-term balancing issues [1] Group 1: Company Overview - Tianqi Lithium is a significant global supplier of lithium products, with operations in Australia and China, including five major production bases [1] - The company produces lithium concentrate and lithium chemical products, including lithium carbonate and lithium hydroxide [1] Group 2: ESG and Sustainability Initiatives - Tianqi Lithium established a dedicated ESG department in 2016 and released its first sustainability report in 2017 [1] - In 2023, the company set a net-zero emissions target and detailed its pathway to achieve this, focusing on energy efficiency and green electricity procurement before 2030 [1] - The company integrates ESG goals into performance assessments through a Business Partner (BP) mechanism to ensure alignment with long-term strategies [1] Group 3: Carbon Management Practices - Tianqi Lithium has achieved 100% green electricity procurement at its Zhangjiagang base and has incorporated energy efficiency and green power into its carbon management system [2] - The company introduced market-based accounting methods for carbon assessment, enhancing transparency in its carbon reduction efforts [2] - Tianqi Lithium is actively involved in developing carbon footprint standards for lithium salts and has conducted its first "Scope 3" carbon assessment, including upstream suppliers [2] Group 4: Circular Economy Efforts - The company has innovated in waste management by developing silicon-aluminum micro-powder, which reduces carbon footprints by 52% compared to traditional raw materials [2] - This innovation addresses solid waste treatment challenges while providing low-carbon raw material options for downstream industries [2]

Core Viewpoint - The Hong Kong stock market saw a significant rise in the non-ferrous metal sector, driven by supply concerns following Freeport McMoran's announcement of force majeure at its Grasberg mine in Indonesia, which is critical to global copper supply [1] Group 1: Market Performance - China Daye Nonferrous Metals rose over 12.5%, with a year-to-date increase of 31.25% [2] - Luoyang Molybdenum increased by 11.01%, marking a staggering year-to-date rise of 179.76% [2] - Jiangxi Copper Co. saw an increase of 7.98%, with a year-to-date growth of 128.95% [2] - Jinchuan Group's share price rose by 5.71%, with a year-to-date increase of 189.09% [2] - Zijin Mining's stock increased by 4.59%, with a year-to-date rise of 128.01% [2] - Ganfeng Lithium's shares rose by 3.35%, with a year-to-date increase of 94.93% [2] Group 2: Supply Concerns - Freeport McMoran's Grasberg mine accounts for 3.2% of global copper supply and over 70% of the company's total copper production [1] - The unexpected supply disruption is expected to impact global copper production by more than 6% [1]

Group 1 - The Hong Kong stock market saw a significant rise in the non-ferrous metal sector, with China Daye Nonferrous Metals up over 12%, Luoyang Molybdenum up over 11% reaching a historical high, Jiangxi Copper up nearly 8%, Jinchuan Group up over 5%, Zijin Mining up over 4%, and Ganfeng Lithium up over 3% [1] - Freeport McMoran announced a force majeure on its Grasberg mine in Indonesia, which has reignited market concerns over supply, pushing LME copper futures to a one-year high [1] - The Grasberg mine accounts for 3.2% of global copper supply and over 70% of Freeport's total copper production, with unexpected supply disruptions expected to impact over 6% of global copper output [1] Group 2 - The stock performance of key companies in the non-ferrous metal sector includes: - China Daye Nonferrous Metals: up 12.50%, latest price at 0.063, market cap at 1.127 billion, year-to-date increase of 31.25% [2] - Luoyang Molybdenum: up 11.01%, latest price at 13.910, market cap at 29.7595 billion, year-to-date increase of 179.76% [2] - Jiangxi Copper: up 7.98%, latest price at 26.780, market cap at 9.2732 billion, year-to-date increase of 128.95% [2] - Jinchuan Group: up 5.71%, latest price at 22.200, market cap at 303.8 million, year-to-date increase of 189.09% [2] - Zijin Mining: up 4.59%, latest price at 31.000, market cap at 82.3905 billion, year-to-date increase of 128.01% [2] - Ganfeng Lithium: up 3.35%, latest price at 38.860, market cap at 799.43 million, year-to-date increase of 94.93% [2]

9月24日，天齐锂业涨1.21%，成交额19.73亿元。两融数据显示，当日天齐锂业获融资买入额2.56亿 元，融资偿还2.41亿元，融资净买入1517.72万元。截至9月24日，天齐锂业融资融券余额合计28.86亿 元。 截至6月30日，天齐锂业股东户数27.08万，较上期减少6.08%；人均流通股5451股，较上期增加6.45%。 2025年1月-6月，天齐锂业实现营业收入48.33亿元，同比减少24.71%；归母净利润8441.06万元，同比增 长101.62%。 分红方面，天齐锂业A股上市后累计派现78.68亿元。近三年，累计派现71.37亿元。 机构持仓方面，截止2025年6月30日，天齐锂业十大流通股东中，香港中央结算有限公司位居第四大流 通股东，持股6481.74万股，相比上期增加869.65万股。中国证券金融股份有限公司位居第五大流通股 东，持股2785.36万股，持股数量较上期不变。华泰柏瑞沪深300ETF（510300）位居第六大流通股东， 持股1839.68万股，相比上期增加154.77万股。易方达沪深300ETF（510310）位居第七大流通股东，持 股1312.54万股，相比上期增加1 ...

Core Viewpoint - The 2025 Eleventh Annual Lithium Battery Industry Conference aims to address technological advancements and challenges in the lithium battery sector, focusing on new battery technologies and their applications in various industries [2][3]. Group 1: Event Background and Significance - In early 2025, BMW announced the upcoming deployment of large cylindrical batteries in 2026, prompting a surge in the industry towards 46 series large cylindrical batteries [1]. - The Ministry of Industry and Information Technology released new safety standards for electric vehicle batteries, sparking widespread discussions on battery performance [1]. - Several companies have begun mass production of full-tab cylindrical batteries, which are expected to find applications in electric vehicles, tools, and smart home devices due to their high rate and long lifespan advantages [1]. - Solid-state batteries are gaining attention for their high safety and energy density, maintaining high interest levels throughout 2025 [1]. - The cancellation of mandatory storage policies by the state has raised concerns about future demand for storage batteries [1]. - The trend towards larger capacity storage cells is evident, with companies like CATL and EVE Energy releasing cells with capacities exceeding 500Ah [1]. Group 2: Event Theme and Structure - The event is themed "Breaking Through the New Cycle of Technological Iteration, Building a New Era of Safety for Ten Years" and will take place from December 17-19, 2025 [2]. - The conference will feature various forums and discussions on key topics, including battery technology advancements and safety challenges [2]. Group 3: Event Highlights - The conference will gather over 2000 attendees, including industry leaders and emerging battery companies, making it the largest event of the year [3]. - There will be nine specialized forums and over 60 prominent speakers discussing core issues and future technological breakthroughs [3]. - The event will also host the 11th Lithium Battery Golden Tripod Award ceremony, recognizing outstanding contributions to the lithium battery industry [3]. Group 4: Specialized Sessions and Topics - The first day will focus on cylindrical battery technology, discussing topics such as fast-charging ecosystems and the industrialization of high-nickel ternary batteries [5]. - The second day will cover battery materials and safety technologies, including advancements in high-voltage platforms and solid-state battery manufacturing [6]. - The third day will address user-side storage technologies, including the release of the 2025 Global User-Side Storage Industry White Paper [6]. Group 5: Award and Participation - The Golden Tripod Award aims to encourage innovation in the lithium battery industry and recognize companies that have made significant contributions [7]. - The award selection process includes initial assessments and final evaluations, culminating in the award ceremony on December 19, 2025 [8].