Core Insights - The announcement from Tibet Mining indicates the official launch of the 10,000-ton battery-grade lithium carbonate project at the Zabuye Salt Lake, marking the end of the trial production phase and the beginning of large-scale production [1][2][3] Group 1: Project Overview - The Zabuye Salt Lake is the largest lithium salt lake in Asia and the third largest in the world, with high lithium concentration and low magnesium-lithium ratio, making it a valuable resource [2][3] - The project is the world's first to utilize a membrane separation and MVR lithium extraction process, which involves complex technical adjustments and environmental adaptations [2] - The project has faced delays and challenges, including issues with power supply and regulatory compliance, but has now successfully completed a 120-hour functional assessment [2][5][6] Group 2: Market Context - The lithium market has experienced significant price fluctuations, with prices rising from a shortage to oversupply, impacting the project's timeline and economic viability [1][5] - The project aims to produce 10,000 tons of lithium salt annually, which is relatively small compared to other industry players, potentially limiting its impact on the overall market [4][6] Group 3: Competitive Position - Tibet Mining claims a cost advantage over other domestic salt lakes, with extraction costs 20% lower than competitors and 50%-70% lower than traditional lithium mining [6] - Other companies, such as Salt Lake Co., are also ramping up lithium production, with their projects showing significant progress and profitability [7]

Core Viewpoint - On September 26, a total of 6 listed companies had their restricted shares unlocked, with a total market value of approximately 11.125 billion yuan [1] Summary by Category Restricted Share Unlocking Details - The companies involved in the unlocking of restricted shares include: - Xizang Mining (Stock Code: 000762) with 99,600 shares from equity incentive restrictions - Huayou Cobalt (Stock Code: 603799) with 3.4138 million shares from equity incentive restrictions - Ziyan Food (Stock Code: 603057) with 344 million shares from pre-issue share restrictions - Haoshanghao (Stock Code: 001298) with 626,400 shares from equity incentive restrictions - Runbei Hangke (Stock Code: 001316) with 663,900 shares from equity incentive restrictions - Xinke Mobile (Stock Code: 688387) with 638 million shares unlocked [1]

证券日报网讯 9月25日晚间，西藏矿业发布公告称，西藏扎布耶盐湖绿色综合开发利用万吨电池级碳酸 锂项目于2025年9月20日至24日顺利完成120小时的功能考核，标志着该项目正式投产。 （文章来源：证券日报） ...

Core Insights - The energy metals sector experienced a rise of 1.36% on September 25, with Shengtu Mining leading the gains [1] - The Shanghai Composite Index closed at 3853.3, down 0.01%, while the Shenzhen Component Index closed at 13445.9, up 0.67% [1] Energy Metals Sector Performance - Shengtu Mining (600711) closed at 8.60, up 3.37% with a trading volume of 1.5912 million shares and a transaction value of 1.377 billion [1] - Tianqi Lithium (002466) closed at 44.69, up 3.11% with a trading volume of 738,300 shares [1] - Yongxing Materials (002756) closed at 35.29, up 2.23% with a trading volume of 137,900 shares [1] - Other notable performers include: - Cangge Mining (000408) at 55.14, up 1.92% [1] - Shengxin Lithium Energy (002240) at 18.18, up 1.68% [1] - Ganfeng Lithium (002460) at 55.73, up 1.47% [1] Capital Flow Analysis - The energy metals sector saw a net inflow of 147 million in main funds, while retail funds experienced a net outflow of 27.5759 million [2] - Major stocks in the sector showed varied capital flows, with Tianqi Lithium seeing a main fund inflow of 260 million [3] - Cangge Mining had a main fund inflow of 59.2092 million, while Shengtu Mining experienced a main fund inflow of 46.1362 million [3]

Core Viewpoint - The company has successfully completed the functional assessment of its lithium extraction project, marking the official commencement of production in September 2025 [1] Group 1: Project Overview - The project involves the green comprehensive development and utilization of a lithium carbonate project at the Zabuye Salt Lake, with a capacity of 10,000 tons [1] - It is the world's first project to utilize membrane separation combined with MVR technology for lithium extraction from salt lakes [1] Group 2: Technical and Environmental Challenges - The project faces complex technical debugging, environmental adaptation, and product validation due to its large industrial scale [1] - The construction is located in a high-altitude, cold region, presenting significant challenges [1] Group 3: Project Timeline - The project was initially announced on August 27, 2021, with subsequent progress updates released in November 2023 and July 2024 [1] - The functional assessment was completed successfully over a 120-hour period from September 20 to 24, 2025 [1]

Core Viewpoint - The announcement from Tibet Mining (000762.SZ) highlights the successful completion of a 120-hour functional assessment for the lithium carbonate project at the Zabuye Salt Lake, marking the official commencement of production for this significant industrial facility [1] Group 1: Project Details - The Zabuye Salt Lake lithium carbonate project is set to produce battery-grade lithium carbonate [1] - The project utilizes a unique membrane separation and MVR (Mechanical Vapor Recompression) technology, making it the first of its kind globally [1] - The project is classified as a large-scale industrial installation [1]

股票代码：000762 股票简称：西藏矿业 编号：临 2025-004 西藏矿业发展股份有限公司 关于西藏扎布耶盐湖绿色综合开发利用万吨电池级碳 酸锂项目的进展公告 西藏矿业发展股份有限公司（以下简称"公司"）于 2021 年 8 月 27 日披露了《关于西藏扎布耶盐湖绿色综合开发利用 万吨电池级碳酸锂项目的公告》（编号:2021-055），2023 年 11 月 21 日披露了《关于西藏扎布耶盐湖绿色综合开发利 用万吨电池级碳酸锂项目建设的进展公告》（编号：临 2023-023）,2024 年 7 月 1 日披露了《关于西藏扎布耶盐湖绿 色综合开发利用万吨电池级碳酸锂项目的进展公告》（编号： 临 2024-003）。 该项目属于大型工业装置，系全球首套采用膜分离+MVR 盐湖提锂工艺的项目，涉及较为复杂的技术调试、环境适配 和产品验证等，同时地处高寒地带，面临艰苦建设条件。经 全力奋战，项目于 2025 年 9 月 20 日至 24 日顺利完成 120 小 时的功能考核，标志着该项目正式投产。 公司将合规履行信息披露义务，敬请广大投资者注意投 资风险。 特此公告。 西藏矿业发展股份有限公司 董 事 会 20 ...

Market Overview - On September 24, the energy metals sector increased by 1.83% compared to the previous trading day, with Huayou Cobalt leading the gains [1] - The Shanghai Composite Index closed at 3853.64, up 0.83%, while the Shenzhen Component Index closed at 13356.14, up 1.8% [1] Individual Stock Performance - Huayou Cobalt (603799) closed at 55.52, with a rise of 5.79% and a trading volume of 1.32 million shares [1] - Xizang Mining (000762) closed at 22.37, up 4.39% with a trading volume of 200,100 shares [1] - Rongjie Co., Ltd. (002192) closed at 35.32, increasing by 3.97% with a trading volume of 79,200 shares [1] - Ganfeng Lithium (002460) closed at 54.92, up 3.35% with a trading volume of 1.21 million shares [1] - Yongxing Materials (002756) closed at 34.52, increasing by 2.89% with a trading volume of 93,900 shares [1] Capital Flow Analysis - The energy metals sector saw a net inflow of 299 million yuan from main funds, while retail funds experienced a net outflow of 352 million yuan [1] - Retail investors contributed a net inflow of 52.18 million yuan [1] Detailed Capital Flow for Selected Stocks - Huayou Cobalt had a main fund net inflow of 264 million yuan, but retail funds saw a net outflow of 191 million yuan [2] - Coldray Mining (300618) experienced a main fund net inflow of 35.46 million yuan, while retail funds had a net outflow of 45.88 million yuan [2] - Rongjie Co., Ltd. had a main fund net inflow of 12.06 million yuan, with retail funds showing a net outflow of 7.79 million yuan [2] - Ganfeng Lithium had a main fund net inflow of 4.36 million yuan, but retail funds experienced a net outflow of 16.13 million yuan [2]

Group 1 - The A-share market saw an increase in lithium mining stocks, with Huayou Cobalt rising over 5% [1] - Other companies such as Tibet Mining, Rongjie Co., New Xunda, and Weiling Co. experienced gains of over 3% [1]

Core Viewpoint - The company, Tibet Mining (000762.SZ), has announced that its lithium products can be utilized in the production of solid-state batteries [1] Group 1 - The company is actively engaging with investors through an interactive platform [1] - The focus on solid-state battery production indicates a strategic alignment with emerging technologies in the battery industry [1]