Market Overview - The market experienced a volatile upward trend on December 23, with the ChiNext Index rising nearly 1% and a significant divergence between the yellow and white lines. The total trading volume in the Shanghai and Shenzhen markets reached 1.24 trillion yuan, an increase of 52.3 billion yuan compared to the previous trading day [1] - By the end of the trading session, the Shanghai Composite Index rose by 0.34%, the Shenzhen Component Index increased by 0.65%, and the ChiNext Index gained 0.78% [1] Sector Performance - The battery, photolithography, and precious metals sectors showed the highest gains, while tourism, education, and film industry sectors experienced the largest declines [1] - The lithium battery industry chain saw rapid growth, with companies like Tianji Co. and Tianci Materials hitting the daily limit [1] - The non-ferrous and tungsten sectors were active, with Xianglu Tungsten and Zhangyuan Tungsten both reaching the daily limit [1] - The semiconductor equipment sector continued its strong performance, with Shenghui Integration achieving a historical high after two consecutive limit-up days [1] - Conversely, the commercial aerospace sector faced a pullback, with Aerospace Machinery falling to the daily limit, and the film industry sector saw multiple stocks, including Bona Film Group, hit consecutive limit-downs [1] Trading Statistics - The limit-up performance rate was recorded at 67%, with 39 stocks hitting the limit and 19 stocks touching the limit [3] - The opening rate was 70%, with a profit rate of 1.86% [3]

Group 1 - The battery chemicals sector experienced a rise, with Tianji Co., Ltd. hitting the daily limit increase, while Haike Xinyuan, Tianhua Xinneng, Huasheng Lithium Battery, Betterray, and Tianci Materials also saw significant gains [1] Group 2 - The overall positive movement in the battery chemicals market indicates growing investor confidence and potential opportunities within the sector [1]

Group 1 - The battery chemicals sector has seen a significant rise, with Tianji Co., Ltd. hitting the daily limit up [1] - Other companies in the sector, including Haike Xinyuan, Tianhua Xinneng, Huasheng Lithium Battery, Betterray, and Tianci Materials, have also experienced notable increases in their stock prices [1]

Core Viewpoint - The company has approved the temporary use of idle raised funds to supplement working capital, ensuring that it does not affect the implementation of investment projects or change the purpose of the raised funds [1]. Group 1: Fund Usage - The company has decided to use up to RMB 175 million of idle raised funds to temporarily supplement working capital, with a usage period not exceeding 12 months from the date of board approval [1]. - During the period of using idle raised funds, the company strictly adheres to relevant laws and regulations, ensuring that the normal implementation of investment projects is not affected and that the funds are not used for high-risk investments [2]. Group 2: Fund Repayment - As of December 18, 2025, the company has repaid RMB 75 million of the idle raised funds back to the special account, within the stipulated usage period [2]. - The remaining balance of idle raised funds that has not yet been repaid amounts to RMB 100 million [3].

Core Viewpoint - Tianji Co., Ltd. announced a delay in the completion of its fundraising project for "30,000 tons of lithium hexafluorophosphate and 6,000 tons of high-purity lithium fluoride" to December 2026, which was previously postponed from December 2024 to December 2025 [1] Financial Performance - For the first three quarters of 2025, the company reported revenue of 1.786 billion yuan, a year-on-year increase of 23.00%, but still incurred a net loss of 101 million yuan [1] - The net cash flow from operating activities was -368 million yuan, with cash received from sales and services amounting to 1.407 billion yuan [1] Debt and Liquidity - As of the third quarter of 2025, the company's interest-bearing debt reached 1.158 billion yuan, a year-on-year increase of 31.26% [2] - Cash and cash equivalents decreased from 977 million yuan in the previous year to 593 million yuan, a decline of 39.35% [2] - The ratio of cash to current liabilities was only 38.17%, and the average operating cash flow to current liabilities ratio over the past three years was 16.91% [2] Project Funding and Use of Proceeds - The fundraising project is expected to require approximately 876 million yuan, with a cumulative investment of 698 million yuan as of November 30, 2025, representing an investment progress of 79.66% [1] - Of the unused fundraising amount (including interest), 175 million yuan has been temporarily used to supplement working capital, leaving approximately 11.12 million yuan in the dedicated fundraising account [1] Shareholder Activity - In September 2025, the controlling shareholder reduced its stake by selling 3 million shares, decreasing its ownership from 18.26% to 17.65% [3] - The reduction was part of a previously disclosed plan allowing for a maximum reduction of 3% of the total share capital within three months after the announcement [3] Market and Operational Challenges - The company cited "customer demand, market environment, and development planning" as reasons for the project delay, while asserting that there are no significant adverse conditions affecting the normal progress of the fundraising plan [3] - The gross margin for the main product, lithium hexafluorophosphate, was reported at -0.5%, indicating a loss [3]

股票代码：002759 股票简称：天际股份 公告编号：2025-102 天际新能源科技股份有限公司 公司于 2025 年 12 月 18 日归还上述用于暂时补充流动资金的闲置募集资金 7,500 万元至募集资金专户，使用期限未超过十二个月。并将上述募集资金的归 还情况通知了公司保荐机构及保荐代表人。 截至本公告披露日，公司尚未归还的用于暂时补充流动资金的闲置募集资金 余额为 10,000 万元。 特此公告。 天际新能源科技股份有限公司董事会 2025 年 12 月 19 日 关于归还部分暂时补充流动资金的闲置募集资金的公告 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。 天际新能源科技股份有限公司（以下简称"公司"、"天际股份"）于 2025 年 7 月 7 日召开第五届董事会第十四次会议、第五届监事会第十一次会议，审议 通过了《关于使用部分闲置募集资金暂时补充流动资金的议案》，同意公司在确 保不影响募集资金投资项目实施及募集资金使用的情况下，使用额度不超过人民 币 17,500 万元的闲置募集资金暂时补充流动资金，使用期限为自本次董事会审 议通过之日起不超过 ...

Core Points - The Shanghai Composite Index rose by 0.16% on December 18, with 12 industries experiencing gains, led by the banking and coal sectors, which increased by 1.97% and 1.89% respectively [1] - The power equipment industry saw the largest decline, dropping by 2.22%, with a net outflow of 73.47 billion yuan in main funds [2][3] - The defense and military industry had the highest net inflow of main funds, totaling 2.29 billion yuan, while the banking sector also saw a significant inflow of 9.27 billion yuan [1] Industry Performance - The banking and coal industries were the top gainers, while the power equipment and communication sectors faced the largest declines [1] - In the power equipment sector, out of 364 stocks, 84 rose, 1 hit the daily limit, and 267 fell [2] - Notable stocks with significant net inflows in the power equipment sector included JunDa Co. with 235 million yuan, HeWang Electric with 159 million yuan, and Goldwind Technology with 115 million yuan [2] Fund Flow Analysis - The electronic industry experienced the largest net outflow of main funds, totaling 110.42 billion yuan, followed by the power equipment sector [1] - The top three stocks with the highest net outflows in the power equipment sector were Ningde Times with 1.347 billion yuan, Sunshine Power with 855.6 million yuan, and Tianji Co. with 308 million yuan [2][3] - The power equipment sector had 109 stocks with net inflows, while 20 stocks saw outflows exceeding 100 million yuan [2]

Core Insights - Lithium carbonate futures prices have surged, approaching 110,000 yuan/ton, indicating a recovery cycle in the industry [2][3] - The A-share lithium mining sector has seen significant gains, with leading companies like Tianqi Lithium and Ganfeng Lithium experiencing notable stock price increases [3] - The domestic lithium carbonate spot price has also risen sharply, with battery-grade lithium carbonate quoted at 97,100 yuan/ton, marking a 62.18% increase from the year's low [3] Market Performance - On December 17, A-share lithium battery concept stocks collectively surged, with companies like Shengxin Lithium Energy and Dazhong Mining hitting their daily price limits, and over 10 billion yuan of net capital inflow into the lithium battery sector [5] - The announcement of the cancellation of 27 mining licenses in Yichun has raised concerns, although the specific impact on lithium mines remains unclear [5] Industry Trends - The lithium battery industry is experiencing a recovery cycle, driven by the high cost-performance ratio of lithium iron phosphate technology in the electric vehicle market and the push for solid-state batteries [7] - The energy storage battery sector is entering a phase of large-scale expansion, with demand expected to grow significantly due to the increasing share of renewable energy and the need for grid stability [7] Production and Export Growth - In the first 11 months of the year, China's production and sales of power and other batteries reached 1,468.8 GWh and 1,412.5 GWh, respectively, representing year-on-year growth of 51.1% and 54.7% [7] - Exports of power and other batteries totaled 260.3 GWh, a 44.2% increase year-on-year, with power batteries accounting for 65.2% of total exports [7] Future Outlook - Analysts are optimistic about the recovery of the lithium battery industry chain, with expectations of continued growth in overseas markets and robust demand for energy storage batteries [8] - Forecasts suggest that global sales of new energy vehicles will grow by approximately 17% by 2026, with a corresponding 20% increase in demand for power batteries [8] Financial Performance - A-share lithium battery concept stocks have shown significant recovery in performance, with a total net profit of 117.2 billion yuan in the first three quarters, a year-on-year increase of 26.97% [9] - Among the lithium battery concept stocks, several companies have reported over 100% growth in net profit, including Guoxuan High-Tech and Daosheng Technology [9][10]

Core Viewpoint - The company announced a delay in the completion date of its lithium salt project from December 2025 to December 2026, citing proactive adjustments based on market and project conditions [1] Group 1: Project Details - The project involves the production of 30,000 tons of lithium hexafluorophosphate and 6,000 tons of high-purity lithium fluoride [1] - The total investment planned for the project is 876 million yuan, with 698 million yuan already invested as of November 30, 2025, representing 79.66% of the total investment [1] - Of the remaining 186 million yuan, 175 million yuan will be used for cash flow support, while 1.1178 million yuan is held in a dedicated account [1] Group 2: Impact of Delay - The delay in the project timeline is described as a proactive adjustment and is not expected to affect overall fund utilization or shareholder interests [1]

Group 1 - Tianji Co., Ltd. experienced a trading halt today with a daily turnover rate of 14.11% and a transaction amount of 2.354 billion yuan, showing a fluctuation of 9.04% [2] - The stock was listed on the Shenzhen Stock Exchange due to a daily price deviation of 8.32%, with institutional investors net selling 89.7769 million yuan [2] - The top five trading departments accounted for a total transaction of 749 million yuan, with a net buying amount of 70.0549 million yuan [2] Group 2 - The latest margin financing data shows that the stock's margin balance is 643 million yuan, with a financing balance of 643 million yuan and a securities lending balance of 22.41 thousand yuan [3] - In the past five days, the financing balance decreased by 45.217 million yuan, a decline of 6.57%, while the securities lending balance decreased by 3.06 thousand yuan, a decline of 12.02% [3] - On December 17, the top buying and selling departments included major institutional investors, with significant buy and sell amounts recorded [3]