Core Viewpoint - The strategic cooperation agreement between Tianqi Co., Ltd. and Huizhou EVE Energy Co., Ltd. aims to establish a comprehensive closed-loop system for lithium battery manufacturing, application, reverse recycling, and regeneration, promoting sustainable development in the lithium battery industry [1] Group 1: Strategic Cooperation - The agreement focuses on building a green value chain for lithium batteries throughout their lifecycle, enhancing supply chain resilience and leading the industry's sustainable development [1] - The collaboration is based on a shared vision for low-carbon and sustainable development in the global lithium battery industry, emphasizing resource sharing, technological collaboration, and market interaction [1] Group 2: Market and Global Strategy - Both companies plan to create a global reverse supply chain system for lithium batteries, utilizing a differentiated pricing mechanism for recycled materials to enhance market recognition of their green value [1] - The company is actively implementing a global lithium battery recycling strategy, with established recycling networks and crushing capacities in regions such as Japan, South Korea, Southeast Asia, and Europe, expecting a significant increase in the proportion of overseas recycled battery waste by the second half of 2025 [1] Group 3: Regulatory Context - The cooperation is positioned favorably within the context of the EU's new battery regulation and the domestic policy of allowing the import of regenerated black powder from lithium batteries, which will enhance the company's long-term market share in the global lithium recycling sector [1]

Core Viewpoint - Tianqi Co., Ltd. has signed a strategic cooperation framework agreement with Huizhou EVE Energy Co., Ltd. to establish a closed-loop system for lithium battery manufacturing, application, reverse recycling, and regeneration [1] Group 1: Strategic Cooperation - The agreement aims to jointly build a comprehensive closed-loop system for the entire lifecycle of lithium batteries [1] - The collaboration focuses on enhancing the recycling network layout, efficient sorting, and regeneration processes within the reverse supply chain [1] Group 2: Industry Impact - The initiative is expected to improve the resilience of the industry chain and lead the green sustainable development of the sector [1]

证券代码：002009 证券简称：天奇股份 公告编号：2025-052 天奇自动化工程股份有限公司 关于与亿纬锂能签订战略合作框架协议的公告 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。 重要内容提示： 1、本次签订的战略合作协议是基于双方合作意愿和合作原则的框架性、意向性的约定。 本协议所涉具体合作事项应以后续签订的正式协议为准。敬请广大投资者注意投资风险。 2、本次战略合作框架协议对公司业务和经营的独立性不产生影响，预计将对公司本年 度及未来的经营情况产生积极影响。 3、公司最近三年披露的框架协议的情况详见"六、其他相关说明"。 一、协议签署概况 近日，天奇自动化工程股份有限公司（以下简称"公司"、"天奇股份"）与惠州亿纬 锂能股份有限公司（以下简称"亿纬锂能"）签署《战略合作框架协议》（以下简称"本协 议"），双方拟共同构建锂电池"制造-应用-逆向回收-再生利用"全链条闭环体系，通过 强化回收网络布局、高效分选与再生利用等逆向供应链环节，共同构建锂电池全生命周期绿 色价值链闭环，提升产业链韧性，引领行业绿色可持续发展。 本次签订的战略合作框架协议为意向 ...

Core Viewpoint - The company is actively responding to the national call for cultivating and developing new quality productivity, focusing on the robotics industry as a key strategic direction for future growth [1] Group 1: Company Strategy - The company has a long-standing technical accumulation and industry resource advantages in the automotive intelligent equipment field [1] - The robotics business aims to provide intelligent robotic system solutions for industrial manufacturing scenarios, including manufacturing and optimization of robotic bodies, industrial application delivery, and real machine data collection and training [1] Group 2: Application and Market Focus - Current application scenarios developed by the company cover automotive complete vehicles and parts manufacturing, lithium battery manufacturing, and 3C manufacturing [1] - The company plans to extend its applications to high-end manufacturing scenarios such as biomedicine and semiconductors, providing comprehensive intelligent manufacturing solutions and services for the high-end manufacturing sector [1]

Group 1 - The core point of the article is that Tianqi Co., Ltd. has initiated small-scale deliveries of embodied intelligent robots to a leading domestic automotive group, marking a significant step in the application of these robots in industrial settings [2] Group 2 - The delivery of embodied intelligent robots represents a new phase in the integration of advanced robotics within the automotive industry, potentially enhancing operational efficiency and productivity [2]

Group 1 - The company Tianqi Co., Ltd. has delivered an order of embodied intelligent robots to a leading domestic automotive group, marking the official start of small-scale deliveries of embodied intelligent robots in industrial scenarios [1]

Group 1 - The core viewpoint of the news is that Tianqi Co., Ltd. has shown a mixed performance in its latest financial results, with a decrease in total revenue but a significant increase in net profit [1] - As of August 25, 2025, Tianqi's stock price closed at 18.06 yuan, reflecting a slight increase of 0.39% [1] - The company's total revenue for the first half of 2025 was 1.247 billion yuan, representing a year-on-year decrease of 4.92% [1] - The net profit attributable to shareholders was 55.8317 million yuan, showing a year-on-year increase of 171.11% [1] - The company's current ratio is 1.006, quick ratio is 0.824, and debt-to-asset ratio is 64.73% [1] Group 2 - Tianqi Co., Ltd. has made investments in 41 companies and participated in 283 bidding projects [2] - The company holds 92 trademark registrations and 1,703 patents, along with 100 administrative licenses [2] - Tianqi was established in 1997 and is primarily engaged in the general equipment manufacturing industry, located in Wuxi City [1][2]

Core Viewpoint - Tianqi Co., Ltd. reported a mixed performance in its 2025 mid-year financial results, with a decline in total revenue but a significant increase in net profit, indicating improved profitability despite revenue challenges [1]. Financial Performance Summary - Total revenue for the first half of 2025 was 1.247 billion yuan, a decrease of 4.92% year-on-year [1]. - Net profit attributable to shareholders reached 55.83 million yuan, up 171.11% compared to the previous year [1]. - Gross margin improved to 17.15%, reflecting a year-on-year increase of 26.55% [1]. - Net margin turned positive at 4.46%, a significant increase of 174.75% from a negative margin in the previous year [1]. Cost and Expense Analysis - Total selling, administrative, and financial expenses amounted to 117 million yuan, accounting for 9.35% of revenue, down 32.61% year-on-year [1]. - The company managed to reduce operating expenses significantly, with selling expenses down by 20.74% and administrative expenses down by 20.49% [3][4]. Cash Flow and Asset Management - Operating cash flow per share improved to -0.01 yuan, a 97.19% increase year-on-year [1]. - Cash and cash equivalents decreased by 4.17%, attributed to increased cash outflows from financing activities [2]. - Accounts receivable decreased by 7.97%, indicating better collection from customers [2]. Investment and Financing Activities - The company increased its investment in subsidiaries, with long-term equity investments rising by 13.09% due to new contributions to various companies [2]. - Short-term borrowings increased by 2.46%, reflecting a rise in short-term financing loans [3]. Profitability Drivers - The significant increase in net profit was driven by the performance of the intelligent equipment business, which saw a boost from multiple project deliveries [8]. - The completion of the sale of real estate assets contributed to increased asset disposal gains [8]. Overall Financial Health - The company’s financial metrics indicate a recovery in profitability, although total revenue remains under pressure due to declines in certain business segments [1][8]. - The historical performance shows a mixed track record, with periods of losses and weak return on invested capital (ROIC) [11].

Core Viewpoint - Tianqi Co., Ltd. reported a mixed performance in its 2025 mid-year financial results, with a decline in revenue but a significant increase in net profit, indicating improved profitability despite challenges in revenue generation [1][2]. Financial Performance Summary - Total revenue for the first half of 2025 was 1.247 billion yuan, a decrease of 4.92% year-on-year [1]. - Net profit attributable to shareholders reached 55.83 million yuan, up 171.11% compared to the previous year [1]. - Gross margin improved by 26.55% to 17.15%, while net margin increased by 174.75% to 4.46% [1]. - Operating expenses (sales, management, and financial) totaled 117 million yuan, accounting for 9.35% of revenue, down 32.61% year-on-year [1]. Cash Flow and Debt Analysis - Operating cash flow per share improved to -0.01 yuan, a 97.19% increase year-on-year [1]. - The company’s cash and cash equivalents decreased by 7.84% to 720 million yuan, attributed to increased cash outflows from financing activities [2]. - Interest-bearing liabilities decreased by 14.99% to 1.949 billion yuan, indicating a reduction in debt levels [1]. Business Segment Insights - The decline in revenue was primarily due to reduced income from lithium battery recycling, heavy machinery, and recycling equipment businesses [2]. - The company experienced a significant increase in asset disposal gains due to the completion of property sales, contributing positively to net profit [3]. Investment and R&D Activities - The company increased its investment in various subsidiaries, including new contributions to technology firms and private equity funds [1][3]. - Research and development expenses decreased by 2.31%, reflecting a reduction in ongoing projects in the lithium battery recycling sector [2]. Operational Efficiency - The company’s operating profit saw a substantial increase of 186.05%, driven by improved performance in the intelligent equipment business and reduced management costs [3]. - The overall return on invested capital (ROIC) has been historically low, with a median of 3.72% over the past decade, indicating challenges in generating adequate returns [3].

Core Viewpoint - Tianqi Co., Ltd. reported a decline in revenue but a significant improvement in profitability for the first half of 2025, indicating a potential recovery in operational efficiency and financial health [1][3]. Financial Performance - The company achieved an operating revenue of 1.247 billion yuan, a year-on-year decrease of 4.92%, while the net profit attributable to shareholders reached 56 million yuan, a substantial increase of 171.11% [1]. - Profitability indicators showed a notable enhancement, with the net profit margin rising from -5.97% in the first half of 2024 to 4.46%, and the gross profit margin increasing from 13.55% to 17.15% [3]. Operational Efficiency - Tianqi Co., Ltd. demonstrated improved operational efficiency, as evidenced by a reduction in inventory turnover days to 103.90 days, down 16.2% from the first half of 2024, indicating better inventory management [6]. - The net cash flow from operating activities was -6 million yuan, an improvement from -207 million yuan in the same period last year, although it remains negative, highlighting the need for better cash recovery [6]. Debt Management - The asset-liability ratio for the first half of 2025 was 64.73%, a decrease of 1.74 percentage points year-on-year, suggesting a reduction in the company's debt burden [6]. Institutional Investment - As of the first half of 2025, the number of institutional investors holding Tianqi Co., Ltd. shares decreased to 3, down from 29 in the same period of 2024, indicating a significant drop in institutional participation [8]. - The company's market capitalization was reported at 7.345 billion yuan, down from a peak of 12.914 billion yuan in June 2015, requiring a 75.83% increase in stock price to reach its historical high [8].