Core Viewpoint - Tianqi Co., Ltd. has shown a mixed performance in stock trading, with a slight year-to-date decline but significant gains over the past 20 and 60 days, indicating potential volatility and investor interest [1]. Group 1: Stock Performance - On January 15, Tianqi's stock price increased by 2.84%, reaching 22.46 CNY per share, with a trading volume of 255 million CNY and a turnover rate of 3.21%, resulting in a total market capitalization of 9.034 billion CNY [1]. - Year-to-date, Tianqi's stock has decreased by 0.71%, but it has gained 2.98% over the last five trading days, 45.56% over the last 20 days, and 40.82% over the last 60 days [1]. - The company has appeared on the "Dragon and Tiger List" once this year, with the most recent appearance on January 6, where it recorded a net buy of -39.4787 million CNY [1]. Group 2: Company Overview - Tianqi Co., Ltd. was established on November 18, 1997, and went public on June 29, 2004. It is located in Wuxi City, Jiangsu Province, and specializes in automation systems and components, including automated conveyor systems and wind turbine manufacturing [2]. - The company's revenue composition includes 62.73% from automotive intelligent equipment, 14.54% from heavy machinery, 11.02% from lithium battery recycling, and smaller contributions from other sectors [2]. - As of September 30, 2025, Tianqi had 56,300 shareholders, a decrease of 7.72% from the previous period, with an average of 6,294 circulating shares per shareholder, an increase of 8.36% [2]. Group 3: Financial Performance - For the period from January to September 2025, Tianqi reported a revenue of 1.964 billion CNY, a year-on-year decrease of 5.86%, while the net profit attributable to shareholders was 67.1996 million CNY, reflecting a significant increase of 215.81% [2]. - The company has distributed a total of 182 million CNY in dividends since its A-share listing, with 11.8511 million CNY distributed over the last three years [3]. - As of September 30, 2025, Hong Kong Central Clearing Limited was the third-largest circulating shareholder, holding 4.7125 million shares, an increase of 1.8935 million shares from the previous period [3].

Core Viewpoint - Tianqi Co., Ltd. has established a strategic partnership with UBTECH Robotics Corp. to develop bipedal robots for industrial manufacturing, particularly in unmanned logistics solutions [2] Group 1: Partnership and Collaboration - The collaboration between Tianqi Co., Ltd. and UBTECH Robotics began with the establishment of a joint venture, Wuxi Youqi Intelligent Technology Co., Ltd., in September 2020 [2] - The joint venture focuses on providing unmanned logistics solutions and aims to create an end-to-end unmanned logistics system based on unmanned vehicles and humanoid robots [2] Group 2: Application Development - The partnership is dedicated to developing application solutions for industrial and commercial scenarios using bipedal humanoid robots [2]

证券代码：002009 证券简称：天奇股份 公告编号：2026-001 天奇自动化工程股份有限公司 关于公司董事减持计划的进展公告 公司董事沈保卫先生保证向本公司提供的信息内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 重要提示： 天奇自动化工程股份有限公司（以下简称"公司"）于 2025 年 11 月 18 日披露了《关 于公司董事减持计划的预披露公告》，公司董事沈保卫先生计划自减持计划披露之日起 15 个交易日后的 3 个月内（即 2025 年 12 月 10 日至 2026 年 3 月 9 日）以集中竞价的方式减持 公司股份合计不超过 253,750 股，占公司总股本的 0.0631%。 （具体内容详见公司于 2025 年 11 月 18 日在《证券时报》《上海证券报》及巨潮资讯 网 http://www.cninfo.com.cn 披露的《关于公司董事减持计划的预披露公告》） 1、公司董事沈保卫先生本次减持是基于个人资金需要的自主决策。沈保卫先生本次减 持严格遵守《公司法》《证券法》《深圳证券交易所股票上市规则》《上市公 ...

Group 1 - The core viewpoint of the article highlights the visit of ZF Group's Executive Vice President and Asia Pacific President, Wang Runyi, to Tianqi Co., Ltd. on January 12, where they engaged in discussions and explored the company's facilities [1] - During the visit, Wang Runyi and his team toured Tianqi's embodied intelligent robotics industrial data collection and training center, as well as the corporate exhibition hall and automotive intelligent equipment R&D testing center [1] - The discussions focused on Tianqi's strategic layout and innovative practices in serving the entire lifecycle of automobiles [1]

Core Viewpoint - The lithium battery recycling industry is transitioning from a rough development phase to a more refined, standardized, and globalized stage, driven by rising prices of lithium and cobalt, supportive policies, and increasing demand for energy metals [1][2][6]. Industry Overview - Lithium battery recycling is likened to the development of "urban mines," converting waste batteries into valuable, recyclable resources [1]. - The industry is witnessing a transformation, with a market size exceeding 100 billion yuan, reshaping the resource supply landscape in the new energy sector [1][7]. Profitability and Market Dynamics - The profitability of lithium battery recycling businesses has improved significantly, with a reported 59% year-on-year increase in battery dismantling volume, reaching 36,000 tons in the first three quarters of 2025 [2]. - The rise in prices of lithium, cobalt, and nickel has enhanced cash flow for recycling companies, shifting the profit model from reliance on subsidies to the intrinsic value of recycled materials [2][3]. Policy and Regulatory Environment - The Chinese government has relaxed import policies for recycled materials, allowing certain types of black powder to be imported, which addresses previous challenges in the industry [3]. - This regulatory change is expected to secure domestic strategic resource supply and integrate China's battery recycling industry into global resource allocation [2][3]. Capacity Expansion and Capital Operations - Leading companies are adopting a dual strategy of capacity expansion and capital operations to capture market opportunities, with significant investments in new facilities and technology partnerships [4][5]. - Companies like Grinmei and Tianqi are actively pursuing acquisitions and financing to enhance their operational capabilities and market presence [4][5]. Technological Advancements and Lifecycle Integration - The industry is evolving from merely end-of-life disposal to playing a crucial role in the entire battery lifecycle, with companies developing comprehensive value chains from recycling to remanufacturing [6]. - Grinmei has achieved a lithium recovery rate exceeding 96.5% through innovative technologies, establishing partnerships with over 1,000 automotive and battery manufacturers [6]. Future Outlook - The lithium battery recycling market is projected to grow at an annual rate exceeding 50% over the next 3 to 5 years, with the domestic market expected to surpass 100 billion yuan by 2030 [7]. - The industry is moving towards a more regulated and competitive environment, with non-compliant players gradually exiting the market, signaling a positive trend for sustainable practices [7].

Core Viewpoint - The lithium battery recycling industry is transitioning from extensive development to a new phase characterized by refinement, standardization, and globalization, driven by rising prices of lithium and cobalt, along with supportive policies [1][9]. Industry Overview - Lithium battery recycling is likened to the development of "urban mines," converting waste batteries into valuable, recyclable resources [1]. - The industry is witnessing a transformation that is reshaping the resource supply landscape of the new energy sector, with a green circular market exceeding 100 billion yuan already formed [1][9]. Profitability and Market Dynamics - Since 2025, the prices of key metals like lithium, cobalt, and nickel have remained high, positively impacting the cash flow and profitability of recycling companies [3]. - For instance, a company reported a 59% year-on-year increase in battery recycling volume, reaching 36,000 tons in the first three quarters of 2025, leading to improved profit margins due to increased retired battery volumes and rising metal prices [3][9]. Policy and Regulatory Changes - In June 2025, a joint announcement by the Ministry of Ecology and Environment, the Ministry of Industry and Information Technology, and the State Administration for Market Regulation stated that recycled black powder meeting national standards is not classified as solid waste, facilitating imports [3][4]. - This policy change addresses previous challenges in importing materials and allows the domestic battery recycling industry to participate in global resource allocation [3][4]. Capital and Capacity Expansion - Leading companies are adopting a dual strategy of "capacity + capital" to seize market opportunities, including new base construction, technological cooperation, and capital financing [4][5]. - For example, a company announced a 400 million yuan acquisition to enhance its circular economy strategy, while another company has established a processing capacity of 100,000 tons for waste lithium batteries [5][7]. Technological Advancements and Industry Collaboration - The industry is evolving from merely end-of-life disposal to becoming a crucial player in the entire battery lifecycle, with companies developing comprehensive value chains from battery recycling to remanufacturing [8]. - One company has achieved a lithium recovery rate exceeding 96.5% and has established partnerships with over 1,000 automotive and battery manufacturers, creating a closed-loop supply chain [8]. Market Outlook - The lithium battery recycling market is expected to grow significantly, with an annual growth rate exceeding 50% projected over the next 3 to 5 years, potentially reaching a market size of over 100 billion yuan by 2030 [9].

Core Viewpoint - The lithium battery recycling industry is undergoing a value reassessment driven by high energy metal prices, increased demand for energy storage, and supportive policies, leading to the formation of a green circular market exceeding 100 billion yuan by 2025 [1][6]. Industry Overview - The prices of key metals such as lithium, cobalt, and nickel are expected to remain high due to global mineral development cycles and a second surge in downstream energy storage demand [1]. - The industry is transitioning from extensive development to a more refined, standardized, and globalized phase, with a market size projected to exceed 100 billion yuan [1]. Company Performance - Companies like Greeenme and Tianqi have reported significant improvements in profitability due to increased retirement volumes and rising metal prices, with Greeenme's battery recycling volume reaching 36,000 tons, a 59% year-on-year increase [2]. - Tianqi's lithium battery recycling segment has turned profitable, aided by the lifting of black powder import restrictions and rising metal prices [2]. Strategic Initiatives - Leading companies are adopting a "capacity + capital" dual-drive strategy to capture market opportunities, with Greeenme planning to invest 400 million yuan to acquire shares in Henan Recycling Group and pursue a Hong Kong listing [4]. - Tianqi has established a processing capacity of 100,000 tons of used lithium batteries, with another 100,000 tons under construction, indicating a strong commitment to expanding its recycling capabilities [4]. Technological Advancements - Greeenme has achieved a lithium recovery rate exceeding 96.5% through its nine global recycling bases and has established partnerships with over 1,000 automotive and battery manufacturers [5]. - The industry is focusing on technological iteration and collaboration across the supply chain, with non-compliant small operations exiting the market, leading to a concentration of market share among companies with technological and environmental advantages [5]. Market Outlook - The lithium battery recycling industry is expected to experience accelerated growth over the next 3 to 5 years, with an annual growth rate projected to exceed 50%, potentially surpassing 100 billion yuan by 2030 [5][6]. - The industry's growth is not only driven by short-term fluctuations in energy metal prices but also by the necessity of closing the loop in the new energy industry chain, ensuring resource security and alleviating mining pressures [6].

Core Viewpoint - The lithium battery recycling industry is transitioning from extensive development to a new phase characterized by refinement, standardization, and globalization, driven by rising prices of lithium and cobalt, along with supportive policies [1][8]. Industry Overview - The lithium battery recycling sector is being recognized as a "urban mine," converting waste batteries into valuable, recyclable resources [1]. - A green circular market exceeding 100 billion yuan has emerged, reshaping the resource supply landscape in the new energy industry [1]. Profitability and Market Dynamics - The profitability of lithium battery recycling businesses has improved significantly due to increased retirement volumes and rising prices of lithium and cobalt [2]. - The price surge of energy metals has shifted the profit model from relying on subsidies to focusing on the intrinsic value of recycled materials, expanding profit margins for companies [2][3]. Policy Developments - New regulations have eased the import of recycled materials, allowing certain types of black powder to be imported without being classified as solid waste, thus facilitating the global resource allocation for China's battery recycling industry [2][3]. Capacity Expansion and Capital Operations - Leading companies are adopting a dual strategy of capacity expansion and capital operations to seize market opportunities, including new base construction and technology partnerships [4][6]. - Companies like Greeenme and Tianqi are actively pursuing acquisitions and financing to enhance their operational capabilities and market presence [4][5][6]. Technological Advancements and Industry Collaboration - The industry is evolving from merely end-of-life disposal to playing a crucial role in the entire battery lifecycle, with companies establishing comprehensive value chains [7]. - Greenme has achieved a lithium recovery rate exceeding 96.5% and has formed partnerships with over 1,000 automotive and battery manufacturers to create a closed-loop supply chain [7]. Market Outlook - The lithium battery recycling market is expected to grow at an annual rate exceeding 50% over the next 3 to 5 years, with the domestic market projected to surpass 100 billion yuan by 2030 [8].

Core Insights - Wuxi is emerging as a new hub for artificial intelligence and humanoid robots, with multiple training centers and initiatives aimed at enhancing productivity and innovation in the manufacturing sector [1][2][5] Group 1: Industry Development - Wuxi's action plan for 2025-2027 aims to enhance AI innovation capabilities and promote full-scene applications of AI, establishing a robust ecosystem for AI development [1][5] - The integration of AI with advanced manufacturing is seen as a strategic move to meet the demands of industrial upgrades, particularly in areas like industrial assembly and urban governance [2][6] Group 2: Infrastructure and Training - The Jiangsu Industrial Data Collection and Training Center in Wuxi spans nearly 7,000 square meters and features seven functional training areas, supporting the development of humanoid robots through a "data factory + training base + innovation engine" model [3][4] - Companies like Tianqi Co. and Kailong High-Tech are establishing training facilities that enhance the efficiency of robot training and application across various sectors, including automotive and renewable energy [4][5] Group 3: Policy and Support - Wuxi has introduced policies to attract talent and support AI development, including financial incentives and partnerships with institutions like Hong Kong Polytechnic University [6][8] - The city aims to create 100 AI-enabled industrialization application cases and promote 300 "AI + advanced manufacturing" scenarios by 2027, with a target for the AI industry scale to exceed 300 billion yuan [5][8] Group 4: Future Outlook - Wuxi's AI industry is projected to grow significantly, with a focus on core technology development and ecosystem cultivation, aiming for a complete industrial chain by 2027 [8][10] - The establishment of the OPC community in Wuxi represents a new entrepreneurial model supported by AI technology, enhancing innovation and commercialization opportunities [9][10]

Group 1 - The robotics sector experienced a rapid surge, with Fenglong Co., Ltd. achieving an 11-day consecutive increase in stock price [1] - Haozhi Electromechanical saw a rise of over 13% in its stock value [1] - Other companies such as Wanxiang Qianchao, Tianqi Co., Sanhua Intelligent Control, Zhejiang Rongtai, and Wuzhou New Spring also experienced stock price increases [1]