智通财经APP讯，天赐材料(002709.SZ)公告，公司拟按照年度计划对部分基地液体六氟磷酸锂产线进行 停产检修工作。公司计划于2026年3月1日起，对龙山北基地年产15万吨液体六氟磷酸锂产线进行停产检 修，预计检修时间为20天至30天。 ...

Core Viewpoint - The company has approved changes to its lithium battery electrolyte production and lithium iron battery recycling projects, adjusting the scale and investment amount [1] Group 1: Project Changes - The company will modify the construction scale of the lithium battery electrolyte project from 300,000 tons to 250,000 tons [1] - The lithium iron battery recycling project will remain at 100,000 tons, with changes in the investment amount [1] Group 2: Investment Details - The total investment for the revised projects will not exceed 600 million yuan [1]

Group 1 - The company expects to achieve a net profit attributable to shareholders of approximately 1.1-1.6 billion yuan and a net profit excluding non-recurring items of approximately 1.05-1.55 billion yuan in 2025, representing a year-on-year growth of 127-230% and 175-306% respectively [1][49] - The company forecasts a Q4 2025 net profit attributable to shareholders of approximately 930 million yuan, with a quarter-on-quarter increase of 508% [2][49] - The rapid increase in prices of raw materials such as hexafluorophosphate lithium (6F), VC, and FSI has been successfully transmitted to the electrolyte end, showcasing the company's integrated cost advantages in the electrolyte industry [2][45] Group 2 - The company is the largest global producer of electrolytes, hexafluorophosphate lithium, and LiFSI, with a self-supply ratio of over 90% for hexafluorophosphate lithium and LiFSI, and 80% for some core additives [9][52] - The company has established a comprehensive internal circulation system through the integration of upstream resources and the recycling of phosphorus and sulfur resources, further consolidating its competitive advantages in the electrolyte sector [2][52] - The company has signed long-term supply agreements with major battery manufacturers, securing over one million tons of electrolyte supply [10][67] Group 3 - The company estimates that its Q4 2025 electrolyte shipment volume will be approximately 220,000 tons, a year-on-year increase of 38% and a quarter-on-quarter increase of 17.4% [50] - The estimated profit per ton for the electrolyte business in Q4 is approximately 4,000 yuan, with a significant increase of over 3,000 yuan quarter-on-quarter, contributing nearly 900 million yuan to profits [50] - The company has observed a third round of price transmission for electrolytes starting in late December, indicating further potential for profit recovery in Q1 2026 [7][50] Group 4 - The company has been actively developing solid-state battery materials, with over 10 years of investment in iron-lithium positive electrodes and precursor fields, gradually strengthening its competitive edge [1][46] - The company has formed a lithium battery materials platform, with a production scale of 200,000 to 250,000 tons for precursors, and is continuously optimizing processes and innovating technologies [46][71] - The company is advancing the large-scale application of LiFSI, which is expected to increase in proportion within the overall electrolyte formulation due to its superior performance characteristics [14][57]

格隆汇1月5日丨天赐材料(002709.SZ)公布，根据化工企业生产装置运行周期的要求，为保障后续液体 六氟磷酸锂生产装置正常运行和安全稳定生产，广州天赐高新材料股份有限公司拟按照年度计划对部分 基地液体六氟磷酸锂产线进行停产检修工作。公司计划于2026年3月1日起，对龙山北基地年产15万吨液 体六氟磷酸锂产线进行停产检修，预计检修时间为20天至30天。针对此次停产检修，公司已做好相关报 批手续及材料准备，预计不会对公司经营情况造成较大影响。 ...

Core Viewpoint - The company announced a change in the construction plan and investment amount for its lithium battery electrolyte and lithium iron phosphate battery recycling projects, reducing the scale of production and total investment [1] Group 1: Project Details - The company will hold a board meeting on January 5, 2026, to review the changes to the construction content and investment amount for the projects [1] - The production scale has been adjusted from an original capacity of 300,000 tons of electrolyte and 100,000 tons of battery recycling to 250,000 tons of electrolyte [1] - The total investment for the revised project will not exceed 600 million yuan [1] Group 2: Implementation Aspects - The project implementation entity and construction location remain unchanged despite the adjustments in scale and investment [1]

Core Viewpoint - Tianqi Materials (002709) announced a planned maintenance shutdown for its Longshan North Base, which produces 150,000 tons of liquid hexafluorophosphate lithium, starting from March 1, 2026, for a duration of 20 to 30 days. The company expects this maintenance will not significantly impact its operational performance [1] Group 1 - The company has completed the necessary approval procedures and material preparations for the maintenance shutdown [1] - The company plans to modify the construction content and investment amount for its lithium battery electrolyte expansion and lithium battery recycling project, reducing the scale from 300,000 tons of electrolyte and 100,000 tons of battery recycling to 250,000 tons of electrolyte. The total investment after the change will not exceed 600 million yuan [1]

Core Viewpoint - The strong performance of Tianqi Materials has significantly boosted seller confidence in growth prospects, with 2026 profit expectations raised from approximately 5.1 billion yuan to around 8 billion yuan, and some institutions projecting profits exceeding 10 billion yuan [2][5]. Group 1: Performance Forecasts - The company anticipates a net profit of 1.1 billion to 1.6 billion yuan for 2025, representing a year-on-year growth of 127.31% to 230.63% [2]. - The median forecast for Q4 net profit is 929 million yuan, with year-on-year and quarter-on-quarter growth exceeding 500% [2][4]. - The expected profit growth is attributed to the increasing demand in the new energy vehicle market and rapid growth in the energy storage market, leading to a significant rise in sales of lithium-ion battery materials [2]. Group 2: Price Trends and Profitability - Lithium hexafluorophosphate prices have doubled from 61,000 yuan/ton at the end of September to 180,000 yuan/ton by year-end, with a quarterly increase of 195% [4]. - The average price of electrolytes in Q4 was 35,500 yuan/ton, with a quarterly increase of 92.41% [4]. - The price rebound has led to a significant recovery in the profit margins of Tianqi Materials' main business, with expected net profit per ton of electrolyte rising from 800 yuan to 4,000 yuan [4]. Group 3: Seller Expectations and Stock Price - Following the performance forecast, seller profit expectations for 2026 were raised to between 8 billion and 10.5 billion yuan, with some estimates reaching 10.5 billion yuan [5][6]. - The stock price target for Tianqi Materials has been set above 50 yuan, with the highest target reaching 79.2 yuan per share, indicating a potential upside of nearly 65% from the latest price of 48.04 yuan [10][11]. - Historical data shows that Tianqi Materials' stock price increased by 136.25% in 2025, outperforming the industry average of 118.67% [13]. Group 4: Future Profitability and Market Position - If the company achieves a net profit of 8 billion yuan in 2026, the earnings per share could rise to approximately 3.96 yuan, potentially allowing the stock price to recover to the 2021 peak of 81.97 yuan [17]. - The strong growth expectations for 2026 suggest that profitability may exceed that of 2025, with a projected growth rate of 677.8% compared to the median expected profit for 2025 [8][9].

Core Viewpoint - The strong earnings realization capability of Tianqi Materials (002709) has significantly boosted seller confidence in growth prospects, with 2026 profit expectations raised from approximately 5.1 billion to around 8 billion, and some institutions projecting profits exceeding 10 billion [1][9]. Group 1: Earnings Forecasts - The company expects a net profit of 1.1 billion to 1.6 billion for 2025, representing a year-on-year growth of 127.31% to 230.63% [1]. - In the fourth quarter, the median net profit is projected to reach 9.3 billion, with year-on-year and quarter-on-quarter growth exceeding 500% [2][8]. - The strong performance is attributed to the growing demand in the new energy vehicle market and rapid growth in the energy storage market, leading to a significant increase in sales of lithium-ion battery materials [2]. Group 2: Price Trends and Profitability - The price of lithium hexafluorophosphate has doubled from 61,000 yuan/ton at the end of September to 180,000 yuan/ton by year-end, with a quarterly increase of 195% [5]. - The average price of electrolytes in the fourth quarter was 35,500 yuan/ton, with a quarterly increase of 92.41% [6]. - The price recovery has led to a significant improvement in the profit margins of Tianqi Materials' main business, with expected net profit per ton of electrolytes increasing from 800 yuan to 4,000 yuan [6]. Group 3: Market Sentiment and Stock Price - Following the earnings forecast, seller profit expectations for 2026 were raised to between 8 billion and 10.5 billion, with some estimates reaching 10.5 billion [9][11]. - The stock price of Tianqi Materials closed at 48.04 yuan, indicating a potential upside of nearly 65% based on seller target prices, which are generally above 50 yuan [15]. - Despite a 136.25% increase in stock price in 2025, the company has not outperformed smaller market cap peers, which saw much higher gains [18][19].

天赐材料（002709） 广州天赐高新材料股份有限公司 投资决策管理制度 (2026 年 1 月 5 日第六届董事会第四十次会议修订) 第一章 总则 第一条 为规范广州天赐高新材料股份有限公司（以下简称"公司"）的投资 行为，明确投资决策程序和责任，提高投资效益，减小投资风险，根据《中华人 民共和国公司法》、《深圳证券交易所股票上市规则》等有关法律、法规以及《公 司章程》的相关规定，并结合本公司实际，制定本制度。 第二条 本制度所称的投资是指公司为获取未来收益而将一定数量的货币 资金、股权、以及经评估后的实物或无形资产作价出资进行的投资行为。公司通 过收购、置换、出售或其他方式导致公司投资的资产增加或减少的行为也适用于 本制度。 第三条 公司投资的形式包括但不限于以下行为： 3、对已有生产设施的技术改造； 4、购买或新建生产和经营设施； 5、实施技术开发项目； 6、法律、法规规定的其他投资方式。 上述投资中，公司管理制度另有专门规定的（如委托理财制度、证券投资、 期货及衍生品交易管理制度等），按照该等专门管理制度执行；除前述外，公司 投资应遵照本制度执行。 第四条 投资管理应遵循的基本原则：符合公司发展战略， ...

广州天赐高新材料股份有限公司 章 程 （2026 年 1 月） 第 1页 /共 47页 | 1 | | --- | | M | | 第一节 | 股份发行 | | --- | --- | | 第二节 | 股份增减和回购 | | 第三节 | 股份转让 | | 第一节 | 股东 | | 第二节 | 股东会的一般规定 | | 第三节 | 股东会的召集 | | 第四节 | 股东会的提案与通知 | | 第五节 | 股东会的召开 | | 第六节 | 股东会的表决和决议 | | 第一节 | 董 事 | | 第二节 | 董事会 | | 第三节 | 董事会专门委员会 | | 第一节 | 总经理及副总经理 | | 第二节 | 董事会秘书 | | 第一节 | 财务会计制度 | | 第二节 | 内部审计 | | 第三节 | 会计师事务所的聘任 | | 第一节 | 通知 | | 第二节 | 公告 | | 第一节 | 合并、分立、增资和减资 | | 第二节 | 解散和清算 | | 第十一章 | 附 则 46 | 第一章 总 则 第一条 为维护广州天赐高新材料股份有限公司（以下简称"公司"）、股东、 职工和债权人的合法权益，规范公司的组织和 ...