证券日报网讯 11月26日晚间，天赐材料（002709）发布公告称，近日，广州天赐高新材料股份有限公 司（以下简称"公司"）取得了8项由国家知识产权局颁发的发明专利证书。 ...

天赐材料（002709） | 证券代码：002709 | 证券简称：天赐材料 | 公告编号：2025-133 | | --- | --- | --- | | 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"天赐转债" 即将停止转股暨赎回前最后一个交易日的重要提示性公告 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： 根据安排，截至 2025 年 12 月 2 日收市后仍未转股的"天赐转债"将被强制 赎回。本次赎回完成后，"天赐转债"将在深交所摘牌。投资者持有的"天赐转 债"存在被质押或冻结情形的，建议在停止转股日前解除质押或冻结，以免出现 因无法转股而被强制赎回的情形。 根据赎回安排，截至 2025 年 12 月 2 日收市后尚未实施转股的"天赐转债" 将按照 100.29 元/张的价格强制赎回，因目前二级市场价格与赎回价格差异较大， 投资者如未及时转股，可能面临损失，敬请投资者注意风险。 天赐材料（002709） 特别提示： 1、最后交易日：2025年11月27日 截至2025年11月26日收市后，距 ...

天赐材料（002709） | 证券代码：002709 | 证券简称：天赐材料 | 公告编号：2025-134 | | --- | --- | --- | | 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 关于取得发明专利证书的公告 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。 近日，广州天赐高新材料股份有限公司（以下简称"公司"）取得了 8 项由 国家知识产权局颁发的发明专利证书，具体情况如下： | 专利 | | 序号 | | | 专利号 | | 专利名称 | | 申请日期 | | | 期限 | 证书号 | 专利权人 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 一种硫化物固态电解质及 | | 1 | ZL | 2025 | 1 | 1281572.6 | | | 年 | 月 | 日 | 年 | 证书号第 | 公司 | | 2025 | | | | | | | 其制备方法、电 ...

Core Viewpoint - Tianqi Materials experienced a stock price decline of 2.12% on November 26, with a current price of 39.33 CNY per share and a total market capitalization of 78.715 billion CNY [1] Financial Performance - For the period from January to September 2025, Tianqi Materials reported a revenue of 10.843 billion CNY, representing a year-on-year growth of 22.34%, and a net profit attributable to shareholders of 421 million CNY, up 24.33% year-on-year [2] Stock Market Activity - The stock has seen a significant increase of 100.46% year-to-date, but has declined by 12.31% over the last five trading days [1] - The company has appeared on the "Dragon and Tiger List" five times this year, with the most recent instance on November 18, where it recorded a net buy of -500 million CNY [1] Shareholder Information - As of September 30, 2025, the number of shareholders increased to 305,800, a rise of 67.71%, while the average circulating shares per person decreased by 40.37% to 4,528 shares [2] - The top circulating shareholder is Hong Kong Central Clearing Limited, holding 53.6773 million shares, a decrease of 2.6555 million shares from the previous period [3] Dividend Distribution - Since its A-share listing, Tianqi Materials has distributed a total of 2.756 billion CNY in dividends, with 1.922 billion CNY distributed over the last three years [3]

Core Viewpoint - The company, Guangzhou Tinci Materials Technology Co., Ltd., has announced the early redemption of its convertible bonds, "Tinci Convertible Bonds," with specific dates for trading and conversion deadlines [2][4][5]. Group 1: Redemption Details - The last trading day for "Tinci Convertible Bonds" is November 27, 2025, after which trading will cease [2][4]. - The last conversion day is December 2, 2025, where investors can still convert their bonds before the market closes [2][4]. - The redemption price is set at 100.29 CNY per bond, including interest and tax [4][16]. Group 2: Redemption Schedule - The redemption conditions were met on November 11, 2025, allowing the company to exercise its right for early redemption [5][14]. - The redemption registration date is December 2, 2025, and the actual redemption will occur on December 3, 2025 [4][22]. - Funds from the redemption will be credited to the company's account on December 8, 2025, and to bondholders' accounts on December 10, 2025 [4][22]. Group 3: Bond Issuance and Trading - The company issued 34,105,000 convertible bonds on September 23, 2022, with a total amount of 3.41 billion CNY [6][7]. - The bonds were listed for trading on the Shenzhen Stock Exchange starting October 27, 2022 [7]. - The conversion period for the bonds began on March 29, 2023, and will last until September 22, 2027 [8]. Group 4: Conversion Price Adjustments - The conversion price has been adjusted multiple times, with the latest adjustment setting it at 28.60 CNY per share effective from February 17, 2025 [10][13]. - The conversion price was further adjusted to 28.50 CNY per share effective from May 22, 2025 [12].

Group 1 - The average price of electrolyte has surged to 54,250 yuan/ton as of November 25, compared to approximately 19,400 yuan/ton at the beginning of the year, indicating a significant price increase [1] - Lithium hexafluorophosphate, a core raw material, has seen an even more dramatic rise, climbing from about 49,300 yuan/ton in July to 160,500 yuan/ton by November 25 [1] - Major electrolyte companies are experiencing a boom in orders, with some firms' orders extending to 2028, reflecting a robust demand driven by the electric vehicle and energy storage industries [1] Group 2 - Since November, the electrolyte industry has been recovering, with leading companies securing large long-term contracts, such as Guangzhou Tinci Materials Technology Co., Ltd. signing orders totaling 159.5 million tons with Hefei Guoxuan High-Tech Power Energy Co., Ltd. and Zhongchuang Xinhang Technology Group Co., Ltd. [2] - The supply-side structural optimization and explosive growth in demand are identified as the core forces driving the simultaneous increase in volume and price in the electrolyte industry [2] - The market is expected to continue growing, primarily driven by the electric vehicle sector, with emerging applications like eVTOL and humanoid robots creating customized demands for high-performance electrolytes [2] Group 3 - In the past month, over 150 inquiries regarding price adjustments, cost control, and capacity planning have been made on investor interaction platforms by companies in the electrolyte supply chain [3] - Companies like Haike New Source have signed long-term contracts with a duration of three years, with prices subject to dynamic negotiation based on market conditions and raw material costs [3] - Companies are focusing on multi-faceted strategies, including capacity expansion, high-end formula research, and binding partnerships with downstream leaders to enhance supply chain stability and optimize costs [3]

Core Viewpoint - The chemical sector has shown a significant rebound, with the chemical ETF (516020) experiencing a rise of 1.17% by the end of the trading day on November 25, 2025, following a brief dip at the opening [1][4]. Group 1: Market Performance - The chemical ETF (516020) reached a maximum intraday increase of 1.43%, with notable gains in sectors such as fluorine chemicals, lithium batteries, potassium fertilizers, and phosphorus chemicals [1]. - Key stocks in the sector included Multi-Fluorine, which surged by 7.26%, and Tianqi Lithium, which rose by 4.36%, with several others like Enjie and Cangge Mining also increasing by over 3% [1]. Group 2: Historical Performance - The chemical ETF's index has recorded a year-to-date increase of 25.08%, outperforming major A-share indices such as the Shanghai Composite Index (15.46%) and the CSI 300 Index (14.12%) [4]. - Over the past five years, the detailed chemical index has shown varied performance, with a peak increase of 51.68% in 2020 and a decline of 26.87% in 2022 [2]. Group 3: Industry Developments - The first large-capacity all-solid-state battery production line in China has been completed and is entering small-scale testing, with energy density expected to double compared to existing batteries, aiming for vehicle testing by 2026 [3]. - The capital expenditure in the basic chemical industry is nearing completion, and the supply-demand dynamics are improving under the "anti-involution" policy [3]. Group 4: Future Outlook - The chemical industry is anticipated to experience dual improvements in performance and valuation due to the "anti-involution" trend, with leading companies likely to gain market share through better management and energy control [5]. - The focus on high-end, intelligent, and green transformation in the chemical sector is supported by national policies aimed at enhancing competitiveness in strategic emerging industries [5].

（文章来源：证券日报） 证券日报网讯天赐材料11月25日在互动平台回答投资者提问时表示，目前公司LiFSI产能约3万吨，未来 公司会根据市场实际需求进行有序扩建。 ...

Core Insights - The Chinese lithium battery industry has entered a new phase of high-quality development, focusing on long-termism, technological innovation, and global layout [2][3][5] - Key industry leaders discussed the importance of maintaining industry self-discipline and avoiding price wars that harm reputation and competitiveness [5][12][13] Group 1: Industry Characteristics - Lithium batteries are integral to the energy sector, with rising global electricity demand and a significant increase in China's new electricity consumption [6] - The penetration rate of new energy vehicles in China remains high, with emerging fields like electric commercial vehicles and data centers contributing to growth [6][7] Group 2: Innovation and Technology - The growth potential of the lithium battery sector is heavily reliant on innovation capabilities, with past advancements driven by breakthroughs in materials and systems [8][10] - Current innovation deficiencies could weaken future competitiveness, necessitating long-term investment in materials and chemical systems [10] Group 3: Manufacturing and Employment - The manufacturing sector must maintain reasonable profit expectations and promote high-quality employment, allowing workers to grow their skills and wealth [11] - Some companies are criticized for using outdated testing methods and production lines, which may yield short-term financial gains but are ultimately unsustainable [11][12] Group 4: Company Strategies - Companies like Tianci Materials and Rongbai Technology are focusing on technological differentiation and global expansion to adapt to the new cycle of value return [16][17][26] - Tianci Materials has achieved significant market share in electrolyte production and is investing in solid-state battery technology and innovative materials [17][19] Group 5: Future Trends - The storage market is expected to grow significantly, driven by advancements in battery technology and the decreasing costs of solar power [27] - By 2035, the demand ratio for lithium iron phosphate and sodium-ion battery materials is projected to shift to 4:6, indicating a trend towards more cost-effective materials [29] Group 6: Globalization and ESG - Companies are adopting global strategies, with a focus on vertical integration and establishing a global presence to meet increasing demand [30][31] - ESG (Environmental, Social, Governance) considerations are becoming a foundational aspect of corporate strategies, promoting sustainable development and enhancing the industry's global image [31]

Core Insights - The lithium battery industry is experiencing a new cycle characterized by rising prices and increasing demand for hexafluorophosphate lithium, which is a key raw material for electrolytes [2][3][4] Price Trends - Hexafluorophosphate lithium prices have been on the rise since September, reaching an average of 160,500 CNY per ton by November 25, marking a 226% increase from the low of 49,300 CNY per ton in July [3] Order and Demand - The industry is witnessing robust demand, with companies reporting significant improvements in performance. For instance, the revenue of Dofluorid increased over fourfold year-on-year in the first three quarters of 2025, while Tianqi Materials reported a 22.34% increase in revenue to 10.843 billion CNY [4] Production Expansion - To meet the growing demand in the energy storage market, the industry has initiated multiple expansion projects for hexafluorophosphate lithium, with nearly 10 projects updated this year [5][6] Specific Projects - Notable projects include: - Hongyuan Pharmaceutical's 6,000 tons/year hexafluorophosphate lithium expansion project, which has passed energy-saving and environmental assessments [6] - The approval of Jiangxi Fuli's 50,000 tons/year hexafluorophosphate lithium project, which is in the equipment procurement phase [8] - Xinjiang Kexin Chemical's investment of 8.647 billion CNY for a project that includes 30,000 tons/year of hexafluorophosphate lithium [9] Capacity and Market Dynamics - The current market is dominated by leading companies with concentrated market share and effective capacity. This is expected to lead to increased orders and high operating rates, positively impacting performance [10][11]