天齐锂业股份有限公司（以下简称"公司"）第六届监事会第十三次会议（以下简 称"会议"） 于2025年4月11日以通讯表决的方式召开。召开本次会议的通知及相关资 料已于2025年4月9日通过电子邮件方式送达各位监事。本次会议应参加表决监事3人， 实际参加表决监事3人。本次会议由公司监事会主席王东杰女士召集。本次会议的召集、 召开与表决程序符合《中华人民共和国公司法》和《公司章程》及相关法律、法规的规 定，合法有效。 股票代码：002466 股票简称：天齐锂业 公告编号：2025-028 天齐锂业股份有限公司 第六届监事会第十三次会议决议公告 本公司及监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。 本次会议审议通过了以下议案： 此议案尚需提交公司2025年第一次临时股东大会审议。 具体内容详见公司同日披露于《证券时报》《证券日报》《中国证券报》《上海证 券报》《经济参考报》和巨潮资讯网（http://www.cninfo.com.cn）的《关于控股子公司 之间提供交叉担保的公告》（公告编号：2025-026）。 特此公告。 天齐锂业股份有限公司监事会 二〇二五年四月十二日 ...

股票代码：002466 股票简称：天齐锂业 公告编号：2025-025 天齐锂业股份有限公司 第六届董事会第二十三次会议决议公告 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。 天齐锂业股份有限公司（以下简称"公司"）第六届董事会第二十三次会议（以下简称"会 议"）于2025年4月11日以通讯表决的方式召开。召开本次会议的通知及相关资料已于2025年 4月9日通过电子邮件方式送达各位董事。本次会议应参加表决董事8人（其中独立董事4人）， 实际参加表决董事8人。本次会议由董事长蒋安琪女士召集。本次会议的召集、召开与表决程 序符合《中华人民共和国公司法》和《公司章程》及相关法律、法规的规定，合法有效。 本次会议审议通过了以下议案： 一、审议通过《关于控股子公司之间提供交叉担保的议案》 表决结果：同意8票、反对0票、弃权0票。 鉴于交叉担保是澳大利亚大中型集团企业的惯常行为，既有利于提升担保范围内成员公司 的信用等级，又可减轻或解除各成员公司法定审计财务报表的准备工作及澳大利亚证券和投资 委员会（ASIC）规定的其他报告义务，交叉担保契约仅在相关集团成员清算时可执行 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 就臨時股東大會暫停辦理H股股份過戶登記手續 天齊鋰業股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈，為確定有權出 席將於2025年4月29日舉行的本公司臨時股東大會（「臨時股東大會」）的H股股東 名單，本公司將於2025年4月24日（星期四）至2025年4月29日（星期二）（包括首 尾兩天）期間暫停辦理H股股份過戶登記手續。於2025年4月24日（星期四）名列 本公司H股股東名冊的H股股東，將有權出席臨時股東大會並於會上投票。H股股 東如欲出席臨時股東大會而尚未進行股份過戶登記，須於2025年4月23日（星期 三）下午4時30分前，將股票連同股份過戶文件一併送交本公司H股股份過戶登記 處香港中央證券登記有限公司，地址為香港灣仔皇后大道東183號合和中心17樓 1712-1716號舖。 本公司將適時向本公司股東寄發載有於臨時股東大會上提呈的決議案詳情的通 函，連同該等會議的通告。 承董事會命 天齊 ...

Investment Rating - The investment rating for Tianqi Lithium Industries is maintained as "Buy" [8] Core Views - The company reported a significant decline in revenue and net profit for 2024, with revenue at 13.06 billion yuan, down 67.7% year-on-year, and a net loss of 7.90 billion yuan, transitioning from profit to loss [1] - Lithium salt sales saw a substantial increase, with production of lithium salt at 71,000 tons, up 39.4% year-on-year, and sales at 103,000 tons, up 81.5% year-on-year [1] - The company is actively advancing its mining and smelting operations while exploring new technologies in the downstream sector, including solid-state batteries and battery recycling [4] Financial Summary - In 2024, the company faced challenges due to high inventory and asset impairments, with total asset impairments amounting to 2.11 billion yuan [2] - Investment income turned negative, with a loss of 840 million yuan, primarily due to a decline in lithium prices and tax obligations affecting SQM [3] - The company forecasts a gradual recovery in net profit from 1.16 billion yuan in 2025 to 2.65 billion yuan in 2027, with corresponding EPS increasing from 0.71 yuan to 1.62 yuan [5][7]

Core Viewpoint - The lithium industry in China is facing cyclical challenges, prompting leading companies Ganfeng Lithium and Tianqi Lithium to focus on next-generation battery technologies, particularly solid-state batteries with an emphasis on lithium sulfide and lithium metal anodes [2][8]. Group 1: Ganfeng Lithium's Strategy - Ganfeng Lithium emphasizes its vertical integration capabilities in the solid-state battery sector, covering the entire supply chain from lithium sulfide raw materials to battery systems [2]. - The company has achieved mass production capabilities for battery-grade lithium sulfide in 2022, with plans to scale production to hundreds of tons by 2024, offering a product purity of 99.9% and a particle size of less than 5 microns [2][3]. - Ganfeng Lithium's solid electrolyte technologies include sulfide, oxide, and polymer systems, with sulfide electrolytes achieving a conductivity of 3 mS/cm and oxide electrolytes reaching 1.7 mS/cm at room temperature [3]. - The company has a 4 GWh hybrid solid-liquid battery production line in Jiangxi and is expanding its lithium metal production capacity to 2,150 tons [3]. Group 2: Tianqi Lithium's Developments - Tianqi Lithium is also focusing on lithium sulfide and lithium metal for solid-state battery materials, having developed new battery-grade lithium sulfide products and completed the necessary industrialization processes [5]. - The company has a production capacity of 600 tons per year for lithium metal at its Chongqing facility and is working on a project to increase capacity to 1,000 tons [5]. Group 3: Market Demand and Growth Projections - The demand for lithium sulfide is projected to reach 13,000 tons by 2030, with a compound annual growth rate (CAGR) exceeding 250% from 2025 to 2030, driven by the anticipated growth in solid-state battery shipments [6]. - The demand for lithium metal anodes in solid-state batteries is expected to reach approximately 26,300 tons by 2030, with a market size of around 18.4 billion RMB and a CAGR exceeding 300% from 2024 to 2030 [6]. - Solid-state batteries using lithium metal anodes are estimated to require about 1,455 tons of lithium equivalent (LCE) per GWh, significantly higher than traditional lithium batteries [6]. Group 4: Industry Challenges and Strategic Shifts - Both Ganfeng and Tianqi Lithium faced severe operational challenges in 2024, with Tianqi reporting a 68% decline in revenue and a net loss of nearly 8 billion RMB, while Ganfeng experienced a 42% revenue drop and a net loss of approximately 2.1 billion RMB [7]. - The companies are shifting their strategies to explore new business areas and demonstrate growth potential, particularly in high-value solid-state battery materials, as traditional lithium resource management becomes less profitable [8].

股票代码：002466 股票简称：天齐锂业 公告编号：2025-024 天齐锂业股份有限公司 关于 2024 年 A 股限制性股票激励计划首批授予登记完成的公告 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、限制性股票首批授予日：2025年3月27日 2、限制性股票首批授予数量：44.1366万股 3、限制性股票首批授予人数：24人 天齐锂业股份有限公司（以下简称"公司"或"本公司"）于2025年3月27日召开 第六届董事会第二十二次会议和第六届监事会第十二次会议，审议通过了《关于调整 2024年A股限制性股票激励计划相关事项的议案》《关于向2024年A股限制性股票激励计 划激励对象首批授予限制性股票的议案》。董事会同意以2025年3月27日为首批授予日， 向24名激励对象授予共计44.1366万股限制性股票。根据中国证券监督管理委员会《上市 公司股权激励管理办法》、深圳证券交易所和中国证券登记结算有限责任公司深圳分公 司有关规则的规定，公司完成了2024年A股限制性股票激励计划（以下简称"本激励计 划"）的首批授予登记工作，现将相关事项 ...

| 截至月份: | 2025年3月31日 | | | | | | 狀態: 新提交 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | | | | | | 公司名稱: | 天齊鋰業股份有限公司 | | | | | | | | | 呈交日期: | 2025年4月3日 | | | | | | | | | I. 法定/註冊股本變動 | 不適用 | | | | | | | | | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | 是 | + | | 證券代號 (如上市) | 09696 | 說明 | | | | | | | | 增加多櫃檯證券代號 | | | | | | | | | | 手動填寫 | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 164,122,200 | RMB | | 1 RMB | | 164,122,200 | | 增加 減少 / (-) | | | 0 | | | RMB | ...

Summary of Tianqi Lithium Corp Conference Call Company Overview - **Company**: Tianqi Lithium Corp - **Ticker**: 002466.SZ - **Sector**: Basic Materials - **Main Activities**: Development, manufacturing, and shipment of lithium products including lithium carbonate, lithium chloride, and lithium hydroxide [12][22] Key Financial Highlights - **FY24 Results**: Reported a net loss of CNY 7.9 billion, aligning with the lower end of the profit warning range (CNY 7.1-8.2 billion) [1] - **4Q24 Performance**: - Net loss widened to CNY 2.2 billion, primarily due to an asset impairment loss of CNY 1.7 billion, including CNY 1.3 billion related to the Kwinana Lithium Hydroxide Plant 2 in Australia [1] - Revenue decreased by 58% year-on-year and 18% quarter-on-quarter to CNY 3 billion, attributed to weak lithium prices and reduced shipments of lithium concentrate [1][15] Production and Capacity Expansion - **Chemical Grade Plant 3 (CGP3)**: Construction at Greenbushes mine is on track, with first spodumene production expected in 4Q25. Total nameplate capacity will reach 2.14 million tons per annum post-completion [2] - **Domestic Refinery Plans**: Additional capacity of 30,000 tons per annum (ktpa) for lithium hydroxide and 1,000 tons for lithium metals is under construction [2] - **Volume Growth Forecast**: Estimated shipment volumes of lithium chemicals to grow by 5-12% from FY25 to FY27 [2] Financial Health and Outlook - **Balance Sheet**: Net-debt-to-equity ratio of 19% as of end-2024, with CNY 5.8 billion cash on hand, sufficient to cover capital expenditures for ongoing projects [3] - **Operating Cash Flow**: Positive operating cash flow of CNY 5.55 billion in FY24 [3] - **Profitability Recovery**: Expected gradual recovery in profitability for the lithium refinery business as high-cost inventories are consumed and pricing mechanisms are adjusted [3] - **Earnings Forecast**: FY25 and FY26 earnings revised down to CNY 1.07 billion and CNY 1.96 billion respectively, reflecting slower-than-expected recovery in lithium prices [3] Valuation and Target Price - **Target Price**: Reduced to CNY 32.00, based on a price-to-book (P/B) ratio of 1.2x for FY2026, which is 1 standard deviation below historical averages [5][13] - **Current Trading**: Stock trades at 1.2x FY26F P/B, with an implied upside of 3.3% from the closing price of CNY 30.99 [5][22] Risks and Considerations - **Downside Risks**: Include slower-than-expected capacity construction, lower lithium prices, and weaker demand in downstream sectors like electric vehicles and energy storage systems [13][17] - **Upside Risks**: Higher-than-expected lithium prices and stronger downstream demand could positively impact performance [18] Additional Insights - **Market Performance**: The stock has seen a decline of 34.8% over the past 12 months [9] - **ESG Commitment**: Tianqi Lithium is focused on monitoring environmental impact and ensuring sustainability in its operations, contributing to the electrification trend in the automotive market [14] This summary encapsulates the critical points from the conference call regarding Tianqi Lithium Corp's financial performance, production outlook, valuation, and associated risks.

Group 1 - The company reported a revenue of 13.063 billion yuan for 2024, a year-on-year decline of 67.75%, and a net profit attributable to shareholders of -7.905 billion yuan, a year-on-year decrease of 208.32% [1] - The decline in performance is primarily attributed to the drop in lithium prices, with the average spot price of battery-grade lithium carbonate in 2024 being 93,000 yuan per ton, a decrease of 65% year-on-year [1] - The company faced significant asset impairment losses amounting to 2.114 billion yuan in 2024, largely due to the full impairment provision for the Australian Phase II lithium hydroxide project [1] Group 2 - The company is actively developing new green extraction technologies for high-energy metallic lithium and is advancing the industrialization of sulfide lithium, a core material for next-generation solid-state batteries [1] - The company has established a lithium chemical product capacity of approximately 91,600 tons per year, with plans to expand total capacity to 122,600 tons per year [2] - The company signed an investment agreement with other lithium industry enterprises to jointly establish a tailings storage project and a water intake facility project [2] Group 3 - Due to the recent decline in lithium carbonate and lithium hydroxide prices, the company has revised its profit forecasts, expecting net profits of 1.253 billion yuan and 1.815 billion yuan for 2025 and 2026, respectively, which are reductions of 71.1% and 67.9% [3] - The company maintains a "buy" rating based on its leading position in the global industry and quality resource layout [3]

Core Viewpoint - Tianqi Lithium Industry is focusing on technological innovation and optimization of its layout, with the establishment of the Innovation Research Institute aimed at advancing research in next-generation high-performance lithium battery materials and other related fields [1][2]. Group 1: Innovation Research Institute - The Tianqi Lithium Innovation Research Institute has a total construction area of over 4,500 square meters and is located in the Chengdu Science and Technology Innovation Ecological Island [1]. - The institute will focus on key research areas such as comprehensive utilization of mineral resources, new lithium extraction technologies, and battery recycling [1][2]. - It aims to serve as a center for attracting high-level scientific research talent and facilitating the exchange of knowledge, technology, and experience [2]. Group 2: Achievements and Collaborations - The institute has already developed groundbreaking technologies, including the world's first preparation technology for lithium sulfide, a key material for solid-state electrolytes, which enhances battery energy density and safety [2]. - The third Innovation Season attracted 39 high-quality innovation projects from both domestic and international participants, promoting collaboration with several universities and research institutions [3]. - Tianqi Lithium has established deep cooperation with institutions like Beijing University of Science and Technology and Harbin Institute of Technology, focusing on the development of new materials and technologies for next-generation solid-state batteries [3]. Group 3: Future Plans - In 2024, the company plans to initiate over 20 company-level projects covering new product development and cutting-edge technology reserves [3]. - The company aims to publish 14 SCI/EI papers and achieve record highs in patent applications and grants [3].