天赐材料（002709） 证券代码：002709 证券简称：天赐材料 公告编号：2026-046 广州天赐高新材料股份有限公司 关于使用部分闲置募集资金进行现金管理的进展公告 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。 广州天赐高新材料股份有限公司（以下简称"公司"）于 2026 年 1 月 7 日召 开第六届董事会第四十一次会议审议通过了《关于使用部分闲置募集资金进行现 金管理的议案》，同意公司在确保不影响募集资金投资计划正常进行的情况下， 使用部分闲置募集资金购买安全性高、流动性好、满足保本要求的理财产品或存 款类产品。闲置募集资金的使用额度不超过人民币 6 亿元，在上述额度范围内， 资金可以滚动使用，期限不超过 12 个月，公司将视募集资金闲置情况合理开展现 金 管 理 。 具 体 内 容 详 见 公 司 于 2026 年 1 月 9 日 在 巨 潮 资 讯 网 （http://www.cninfo.com.cn）披露的《关于使用部分闲置募集资金进行现金管理的 公告》（公告编号：2026-010）。 2026 年 1 月 19 日，公司全资子公司浙江 ...

证券研究报告——晨会聚焦 2026 年 3 月 25 日 | 3 月金股组合 | | | --- | --- | | 股票代码 | 股票名称 | | 0119.HK | 保利置业集团 | | 000099.SZ | 中信海直 | | 601872.SH | 招商轮船 | | 600352.SH | 浙江龙盛 | | 002409.SZ | 雅克科技 | | 002709.SZ | 天赐材料 | | 300760.SZ | 迈瑞医疗 | | 605338.SH | 巴比食品 | | 1579.HK | 颐海国际 | | 601888.SH | 中国中免 | | 689009.SH | 九号公司-WD | | 688630.SH | 芯碁微装 | | 市场指数 | | | | --- | --- | --- | | 指数名称 | 收盘价 | 涨跌% | | 上证综指 | 3881.28 | 1.78 | | --- | --- | --- | | 深证成指 | 13536.56 | 1.43 | | 沪深 300 | 4474.72 | 1.28 | | 中小 100 | 8200.48 | 1.26 | | 创 ...

Core Insights - The report highlights a focus on investment opportunities in the AI sector, particularly following the Nvidia GTC conference, which is expected to initiate a new AI market cycle [5] - The report emphasizes the potential for price increases in the disposable glove industry due to rising raw material costs, suggesting a recovery in profits for leading companies in this sector [10][12] Investment Opportunities - The report identifies a selection of stocks for March, including Poly Real Estate Group (0119.HK), CITIC Hainan Airlines (000099.SZ), and Mindray Medical (300760.SZ), among others [1] - It suggests monitoring the disposable glove industry, particularly companies like YK Medical and Blue Sail Medical, as they may benefit from the current pricing cycle [12][13] Industry Performance - The report notes that the pharmaceutical and biotechnology sector has underperformed, with the Shenwan Pharmaceutical Index dropping 3.21% from March 16 to March 20, 2026, lagging behind the CSI 300 Index by 0.97 percentage points [10][11] - In the electric equipment and new energy sector, global sales of new energy vehicles are expected to grow rapidly in 2026, driving demand for batteries and materials [15] Market Trends - The report indicates a general decline in the A-share market, with various sectors experiencing downturns, particularly in the materials and energy sectors [19][21] - It highlights the performance of the electric equipment and new energy sectors, noting a 3.06% decline in the week, with specific indices like the lithium battery index showing a 2.99% increase [16] Raw Material Insights - The report discusses the impact of geopolitical tensions on the prices of key raw materials for disposable gloves, such as butadiene and acrylonitrile, which are expected to rise, leading to a price increase in the gloves themselves [12][10] - It also mentions that the cost structure of disposable gloves is heavily influenced by raw material prices, which account for approximately 39% of total costs [12]

摘要 原料价格涨势不断 3月以来，磷酸铁产业链承受的成本压力仍在继续上移。 最新一轮推动来自磷化工原料端。 进入3月后，湿法磷酸连续上调，半个月内累计涨幅明显，直接推高了铁法、钠法等磷酸铁生产路 线的成本。 与此同时，硫磺价格也继续走高。 相比之下，下游磷酸铁锂成品价格并未同步上行，前驱体与正极材料之间的利润传导依旧不顺，磷 酸铁环节仍处在成本挤压之中。 相比传统硫酸亚铁路线，草酸、草酸亚铁是富临围绕高压实磷酸铁锂前驱体做出的连续布局。 但项目仍在继续落地。 3月中旬，宁德时代旗下邦普循环与宜昌方面签署合作协议，计划在当地追加投资，布局磷酸铁等 新一代锂电池新材料项目。 对邦普而言，这并非孤立的新动作。 2025年12月29日，邦普时代45万吨/年新一代磷酸铁锂项目已在宜昌投产，并打通了从原料、前驱 体、正极材料到电池循环利用的链条。 此次继续加码磷酸铁等材料，意味着电池回收体系正进一步向前驱体和正极材料环节延伸。 天赐材料的动作来自另一侧。公司近期公告，拟在湖北宜昌推进新能源材料产业园前期工作， 建 设内容包括年产100万吨铁源及30万吨磷酸铁项目，预计总投资不超过21亿元。 公告明确，铁源对应的是硫酸亚铁 ...

2026 年 03 月 18 日 行业展望 看好/维持 电力设备及新能源 电力设备及新能源 新能源+AI 展望（第 3 期 20260308-20260314）：重视储能产业 链 ◼ 走势比较 | 电站设备Ⅱ | 无评级 | | --- | --- | | 电气设备 | 无评级 | | 电源设备 | 无评级 | | 新 能 源 动 力 | 无评级 | | 系统 | | ◼ 推荐公司及评级 相关研究报告 <<【太平洋新能源】新能源+AI 展望 （第 2 期 20260301-20260307）：海 外户储预期向好，电网投资有望超预 期>>--2026-03-09 <<【太平洋新能源】新能源+AI 展望 （第 1 期 20260208-20260228）：重 视上游的弹性，AI+新能源持续带动 装备需求>>--2026-03-02 证券分析师：刘强 电话： E-MAIL：liuqiang@tpyzq.com 分析师登记编号：S1190522080001 证券分析师：钟欣材 电话： E-MAIL：zhongxc@tpyzq.com 分析师登记编号：S1190524110004 报告摘要 ⚫ 行业整体策略：重视储能产 ...

本次股票期权注销事宜，符合《上市公司股权激励管理办法》以及公司《2024 年股票期权激励计划（草案）》等相关法律法规的规定，注销原因及数量合法、 有效，且流程合规。本次注销股票期权不会对公司股本结构造成影响。 特此公告。 天赐材料（002709） 证券代码：002709 证券简称：天赐材料 公告编号：2026-044 广州天赐高新材料股份有限公司 关于2024年股票期权激励计划部分股票期权注销完成的公告 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。 广州天赐高新材料股份有限公司（以下简称"公司"）于 2026年3月6日召开的 第六届董事会第四十二次会议审议通过了《关于注销2024年股票期权激励计划部 分股票期权的议案》。根据《2024年股票期权激励计划（草案）》和《2024 年股 票期权激励计划实施考核管理办法》：鉴于本激励计划首次授予的93名激励对象 因个人原因离职、放弃认购的期权或最终个人业绩考核不达标，涉及1,211,800份 股票期权拟由公司进行注销；根据部门层面业绩考核及个人层面绩效考核结果， 本激励计划首次授予的116名激励对象第一次行权期业绩考 ...

天赐材料（002709） 二、公司参与人员 证券代码：002709 证券简称：天赐材料 公告编号：2026-045 广州天赐高新材料股份有限公司 关于召开 2025 年度业绩说明会的公告 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。 广州天赐高新材料股份有限公司（以下简称"公司"）已于 2026 年 3 月 10 日在巨潮资讯网（http://www.cninfo.com.cn/）披露了《2025 年年度报告》。为加 强与投资者交流，使广大投资者更加全面、深入地了解公司经营情况，公司将于 2026 年 3 月 30 日（星期一）15:30-17:00 召开 2025 年度网上业绩说明会。具体 安排如下： 一、召开时间及方式 （一）召开日期及时间：2026 年 3 月 30 日（星期一）15:30-17:00； （二）召开方式：网络互动； （三）参与方式：本次业绩说明会将通过深圳证券交易所提供的"互动易" 平台举行，投资者可登陆"互动易"网站（http://irm.cninfo.com.cn），进入"云访谈" 栏目参与本次年度业绩说明会。 2026 年 3 月 ...

证券研究报告——晨会聚焦 2026 年 3 月 18 日 中银晨会聚焦-20260318 | 3 月金股组合 | | | --- | --- | | 股票代码 | 股票名称 | | 0119.HK | 保利置业集团 | | 000099.SZ | 中信海直 | | 601872.SH | 招商轮船 | | 600352.SH | 浙江龙盛 | | 002409.SZ | 雅克科技 | | 002709.SZ | 天赐材料 | | 300760.SZ | 迈瑞医疗 | | 605338.SH | 巴比食品 | | 1579.HK | 颐海国际 | | 601888.SH | 中国中免 | | 689009.SH | 九号公司-WD | | 688630.SH | 芯碁微装 | 证券分析师：王军 【社会服务】社服与消费视角点评 1-2 月国内宏观数据*李小民 纠泰民。国 家统计局等部门公布了部分 2026 年 1-2 月国内宏观数据。其中，1-2 月社零 总额同比增长 2.8%，较 25 年 12 月的 0.9%增速环比有所提升；1-2 月餐饮收 入同比增长 4.8%，增速表现好于商品零售额。1、2 月服务业 P ...

Investment Rating - The investment rating for the company is "Buy" and it is maintained [6] Core Insights - The company reported a revenue of 16.65 billion yuan for 2025, representing a year-on-year growth of 33.0%. The net profit attributable to shareholders reached 1.362 billion yuan, a significant increase of 181.43% year-on-year. The non-recurring net profit was 1.360 billion yuan, showing a remarkable growth of 256.32% [2][4] - In Q4 2025, the company achieved a revenue of 5.807 billion yuan, which is a 58.87% increase year-on-year and a 52.27% increase quarter-on-quarter. The net profit attributable to shareholders for this quarter was 941 million yuan, reflecting a staggering year-on-year growth of 546.39% and a quarter-on-quarter growth of 516.37% [2][4] - The company’s electrolyte sales exceeded 720,000 tons for the year, marking a 44% increase. The gross margin for lithium battery materials was 21.27%, benefiting from improved high-margin structure, integrated cost advantages, and hedging against price fluctuations [11] - The company plans to build a new energy materials industrial park in Yichang, Hubei, with an estimated total investment of no more than 2.1 billion yuan. This project aims to enhance local supply capacity and quality assurance [11] - Looking ahead, the company is expected to benefit from strong terminal demand and a gradual release of supply, with the price increase of 6F expected to have a positive impact on profitability [11] Financial Summary - For 2025, total revenue is projected at 16.65 billion yuan, with a gross profit of 3.703 billion yuan, resulting in a gross margin of 22%. The net profit attributable to shareholders is expected to reach 1.362 billion yuan [17] - The company anticipates significant growth in revenue and profit over the next few years, with projections of 31.635 billion yuan in revenue for 2026 and 37.962 billion yuan for 2027 [17]

Core Insights - The report highlights a focus on key stocks for March, including Poly Real Estate Group (0119.HK), CITIC Hainan Airlines (000099.SZ), and Mindray Medical (300760.SZ) among others, indicating potential investment opportunities in these companies [1] - The macroeconomic analysis shows that industrial value-added growth, retail sales, and fixed asset investment in January-February 2026 exceeded market expectations, suggesting a positive economic outlook [4][5] - The transportation sector is experiencing innovation with the introduction of battery swap models and eVTOL (electric Vertical Take-Off and Landing) aircraft, indicating a shift towards new business models in the industry [11][12] Market Performance - The report provides a summary of market indices, with the Shanghai Composite Index closing at 4084.79, down 0.26%, while the ChiNext Index rose by 1.41% to 3357.02 [1] - The food and beverage sector showed a positive performance with a 1.99% increase, while the steel sector declined by 3.16% [2] Economic Data Analysis - In January-February 2026, industrial value-added grew by 6.3% year-on-year, with high-tech industries leading at 13.1% growth, indicating strong performance in advanced sectors [4][5] - Retail sales increased by 2.8%, driven by service consumption growth of 5.6%, although real estate-related consumption remains weak [5] - Fixed asset investment saw a cumulative year-on-year growth of 1.8%, with infrastructure investment growing significantly by 11.4% [4] Transportation Sector Developments - The report notes that the transportation industry is adapting to new trends, with plans for 100,000 Robotaxi vehicles by 2030 and the expected profitability of eVTOL companies by 2026 [11][12] - The ongoing geopolitical tensions in the Middle East are impacting shipping routes, particularly in the Strait of Hormuz, which is affecting oil prices and shipping risks [11][12] Investment Recommendations - The report suggests focusing on low-altitude economy and autonomous driving sectors, recommending stocks like CITIC Hainan Airlines and highlighting opportunities in shipping and logistics due to evolving geopolitical conditions [14][15]