致：广州天赐高新材料股份有限公司（贵公司） 北京国枫律师事务所（以下简称"本所"）接受贵公司的委托，指派律师出席并见证 贵公司 2024 年度股东大会（以下简称"本次会议"）。 本所律师根据《中华人民共和国公司法》（以下称"《公司法》"）、《中华人民 共和国证券法》（以下称"《证券法》"）、《上市公司股东会规则》（以下称"《股 东会规则》"）、《律师事务所从事证券法律业务管理办法》（以下称"《证券法律业务管 理办法》"）、《律师事务所证券法律业务执业规则（试行）》（以下称"《证券法律业务执业 规则》"）等相关法律、行政法规、规章、规范性文件及《广州天赐高新材料股份有限公 司章程》（以下称"《公司章程》"）的规定，就本次会议的召集与召开程序、召集人资格、 出席会议人员资格、会议表决程序及表决结果等事宜，出具本法律意见书。 对本法律意见书的出具，本所律师特作如下声明： 1．本所律师仅就本次会议的召集与召开程序、召集人和出席现场会议人员资格、 会议表决程序及表决结果的合法性发表意见，不对本次会议所审议的议案内容及该等议 案所表述的事实或数据的真实性、准确性和完整性发表意见； 北京市东城区建国门内大街 26 号新闻大 ...

广州天赐高新材料股份有限公司 2024 年度股东大会决议公告 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。 特别提示： 1、本次股东大会无否决议案的情形。 2、本次股东大会不涉及变更以往股东会已通过的决议。 天赐材料（002709） | 证券代码：002709 | 证券简称：天赐材料 | 公告编号：2025-063 | | --- | --- | --- | | 转债代码：127073 | 转债简称：天赐转债 | | 6、本次股东大会会议召开符合《中华人民共和国公司法》《深圳证券交 易所股票上市规则》《上市公司股东大会规则》等有关法律、行政法规、部门 一、会议召开和出席情况 （一）会议召开情况 1、会议召开时间： （1）现场会议召开时间：2025 年 5 月 8 日（星期四）下午 14:30 （2）网络投票时间为： 通过深圳证券交易所交易系统进行网络投票的具体时间为：2025 年 5 月 8 日上午 9:15—9:25,9:30—11:30 和下午 13:00—15:00； 通过深圳证券交易所互联网投票系统进行网络投票的具体时间为 2025 年 5 月 8 ...

根据披露的机构调研信息2025年4月24日，淳厚基金对上市公司天赐材料进行了调研。 附调研内容：本次交流会议分为两个部分，第一部分是公司对2024 年年度及 2025 年一季度经营情况做 简要介绍；第二部分为问答环节。一、2024 年年度及 2025 年一季度经营情况介绍根据公司 2024 年年 度报告及 2025 年一季度报告，2024 年公司实现营业收入 125.18 亿元，归属于上市公司股东的净利润 4.84 亿元，同比下降 74.40%，实现归属于上市公司股东的扣除非经常性损益后的净利润3.82 亿元，基 本每股收益为 0.25 元/股。2025 年一季度公司实现营业收入 34.89 亿元，归属于上市公司股东的净利润 1.49 亿元，同比增长 30.8%，实现归属于上市公司股东的扣除非经常性损益后的净利润 1.34 亿元。 2024 年，公司核心产品电解液销量增长势头强劲，全年销售超过 50 万吨，较 2023 年同比增长约 26%。报告期内，受到原材料价格波动、竞争加剧等多方面影响，公司电解液产品价格及单位盈利有所 下降，但公司凭借完善的产业链一体化及横向协同的业务布局，克服了主要产品下跌等困难，竞 ...

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"）2025年4月11日召开的 第六届董事会第三十一次会议审议通过了《关于召开2024年度股东大会的议案》， 决定于2025年5月8日（星期四）召开2024年度股东大会，具体内容详见公司于2025 年4月15日在巨潮资讯网（http://www.cninfo.com.cn）披露的《关于召开2024年度 股东大会通知的公告》（公告编号：2025-056）。现将召开本次股东大会的有关 安排公告如下： 天赐材料（002709） | 证券代码：002709 | 证券简称：天赐材料 | 公告编号：2025-062 | | --- | --- | --- | | 转债代码：127073 | 转债简称：天赐转债 | | 广州天赐高新材料股份有限公司 关于召开 2024 年度股东大会的提示性公告 一、召开会议的基本情况 1、股东大会届次： 2024 年度股东大会 2、会议召集人：公司董事会。公司第六届董事会第三十一次会议于 2025 年 4 月 11 日召开，审议通过了《关于召开 20 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 21.20 CNY based on a 40x P/E ratio for 2025 [4][7]. Core Views - The profitability of the electrolyte segment is expected to improve, with the company positioned as a leader in advanced technology [2][10]. - The company has adjusted its earnings per share (EPS) forecasts for 2025 and 2026 down to 0.53 CNY and 0.81 CNY respectively, with a new forecast for 2027 at 1.15 CNY [4][10]. Financial Performance Summary - The company reported a revenue of 12,518 million CNY in 2024, a decrease of 18.7% year-on-year, with a net profit attributable to the parent company of 484 million CNY, down 74.4% [6][10]. - For 2025, the company expects a revenue increase to 15,489 million CNY, representing a growth of 23.7%, and a net profit of 1,023 million CNY, which is an increase of 111.4% [6][10]. - The gross margin is projected to recover from 18.9% in 2024 to 20.7% in 2025, while the net margin is expected to rise from 3.9% to 6.6% in the same period [6][10]. Market Position and Competitive Landscape - The company achieved an electrolyte sales volume of over 500,000 tons in 2024, marking a 26% increase year-on-year, despite facing challenges from raw material price fluctuations and intensified competition [10]. - The company is advancing its R&D efforts, launching new electrolyte products and maintaining technological leadership, with plans for multiple projects to enter trial production or mass production in 2025 [10].

Core Viewpoint - The company is actively expanding its overseas operations and developing solid-state battery technology while maintaining strong financial performance and growth prospects in the lithium-ion battery materials industry. Group 1: Overseas Expansion and Tariff Impact - The company reported that the impact of U.S. tariffs is minimal, with only about 1% of total revenue coming from direct sales to the U.S. [1] - The company is working on local production capacity in the U.S., including a 200,000-ton electrolyte project in Texas, which is currently in the preparatory stage [1] Group 2: Solid-State Battery Technology - The company has developed a lithium sulfide-based solid electrolyte, which is currently in the pilot testing phase, focusing on material technology validation with downstream battery customers [2] - The company aims to maintain its core competitiveness through continuous product innovation and close communication with customers [2] Group 3: Financial Performance - In 2024, the company achieved a revenue of 12.518 billion yuan and a net profit of 484 million yuan, with a basic earnings per share of 0.25 yuan [3] - The company reported a first-quarter revenue of 3.489 billion yuan in 2025, a year-on-year increase of 41.64%, and a net profit of 150 million yuan, up 30.8% year-on-year [6] Group 4: Future Growth Drivers - Future growth is expected to come from stable demand in the lithium battery materials industry and improved industry competition leading to normalized product prices [4] - The company is committed to an integrated and international strategy to capture overseas market opportunities and enhance profitability [4] Group 5: Industry Outlook - The lithium-ion battery materials industry is experiencing stable growth driven by demand in electric vehicles and energy storage applications, with ongoing advancements in battery technology [5] - The industry is expanding into new applications such as eVTOL and robotics, indicating a broad growth outlook [5] Group 6: Analyst Ratings and Predictions - Recent ratings from 11 institutions show 8 buy ratings and 3 hold ratings, with an average target price of 22.8 yuan [7] - Detailed earnings forecasts indicate expected net profits of 1.046 billion yuan in 2025, increasing to 2.040 billion yuan by 2027 [9]

Group 1: Company Overview and Financial Performance - The company achieved a revenue of 12.518 billion CNY in 2024, with a net profit attributable to shareholders of 484 million CNY, and a net profit of 382 million CNY after deducting non-recurring gains and losses [3] - Basic earnings per share were reported at 0.25 CNY per share [3] Group 2: Market Position and Strategic Initiatives - The company is actively expanding its overseas presence, with only about 1% of total revenue coming from direct sales to the U.S., indicating limited impact from U.S. tariffs [2] - Ongoing projects include a 200,000-ton annual production capacity for electrolyte in Texas, which is currently in the land acquisition and factory design phase [2] Group 3: Technological Development and Industry Outlook - The company is developing solid-state electrolytes using a lithium sulfide route, currently in the pilot testing stage, and is collaborating closely with downstream battery customers for material technology validation [3] - The lithium-ion battery materials industry is expected to maintain stable growth, driven by demand in electric vehicles and energy storage applications, with a focus on high safety, long cycle life, low cost, and high energy density [3]

Investment Rating - The investment rating for the company is "Buy" [1][5] Core Views - The company's performance in 2024 met expectations, with a year-on-year decline of 74.40% in net profit, while the first quarter of 2025 showed a growth of 30.80% in net profit [3][8] - The company is actively expanding its overseas production capacity and has made significant progress in international markets [8] Financial Summary - The company's revenue for 2024 was RMB 12,518 million, a decrease of 18.74% year-on-year, while the net profit was RMB 484 million, down 74.40% [7][9] - For the first quarter of 2025, the company reported revenue of RMB 3,488.66 million, a year-on-year increase of 41.64%, and a net profit of RMB 149.62 million, up 30.80% [10] - The projected earnings per share (EPS) for 2025 is RMB 0.55, with a corresponding price-to-earnings (P/E) ratio of 31.2 [5][12] - The company expects a recovery in revenue growth, projecting a 31.0% increase in 2025 and further growth in subsequent years [7][12] Market Position - The company maintains a leading position in the lithium-ion battery materials sector, with significant sales in electrolyte products and cathode materials [8] - The company has successfully launched its German OEM factory and is progressing with its U.S. electrolyte project, indicating a strong commitment to international expansion [8]

Group 1: Company Overview - Star Stone Investment Management Co., Ltd. is one of the top private equity investment fund management companies in China, established in 2007 [2] - The company has won numerous awards, including the "Morningstar China Hedge Fund Award" and the "China Private Equity Golden Bull Award" [2] - Star Stone focuses on long/short equity strategies and has a strong research team of 40 professionals [2] Group 2: Recent Company Research - Tianqi Materials reported that the impact of U.S. tariffs on its business is minimal, with only about 1% of total revenue coming from direct sales to the U.S. in 2024 [1] - The company is actively promoting local production capacity in the U.S. and has formed a joint venture with Honeywell to accelerate the production of electrolytes and lithium hexafluorophosphate in North America [1] - The company has developed a solid electrolyte based on lithium sulfide, which is currently in the pilot testing stage [1]

Core Viewpoint - The company is currently in the product pilot verification stage for PEEK materials, having developed manufacturing methods and secured patents for related products [1] Group 1 - The company has initiated research and patent layout for manufacturing methods and upstream raw materials related to PEEK materials [1] - There are small batch orders already being supplied for PEEK products [1] - PEEK materials have significant application potential not only in the popular robotics sector but also in the chemical industry [1] Group 2 - The company's PEEK products are primarily used as modified materials for battery cell structural components [1]