Core Insights - On November 10, a total of 38 stocks appeared on the trading leaderboard, with 17 showing net institutional buying and 21 showing net selling [2] - The top three stocks with the highest net institutional buying were Huasheng Lithium, Yongtai Technology, and Tianji Co., with net buying amounts of 252 million, 204 million, and 198 million respectively [2] - The top three stocks with the highest net institutional selling were Xinquan Co., Zhejiang Rongtai, and Xiangnong Chip, with net selling amounts of 333 million, 282 million, and 224 million respectively [2] Institutional Buying Summary - The stocks with significant net institutional buying included: - Huasheng Lithium: 252 million, with a daily increase of 20.00% [3] - Yongtai Technology: 204 million, with a daily increase of 8.02% [3] - Tianji Co.: 198 million, with a daily increase of 10.00% [3] - Wanrun Technology: 131 million, with a daily increase of 10.00% [3] Institutional Selling Summary - The stocks with significant net institutional selling included: - Xinquan Co.: 333 million, with a daily decrease of 10.00% [4] - Zhejiang Rongtai: 282 million, with a daily decrease of 10.00% [4] - Xiangnong Chip: 224 million, with a daily increase of 15.19% [4] - Other notable sell-offs included: - Jereh Co.: 1387 million, with a daily decrease of 7.46% [4] - Hongyuan Green Energy: 508 million, with a daily increase of 9.99% [4]

Summary of Key Points Core Viewpoint - On November 10, a total of 38 stocks were involved with institutional investors, with 17 stocks showing net buying and 21 stocks showing net selling [1]. Institutional Net Buying - The top three stocks with the highest net buying by institutions were: - Huasheng Lithium (华盛锂电) with a net buying amount of 252 million yuan, representing a 20% increase [2]. - Yongtai Technology (永太科技) with a net buying amount of 204 million yuan, representing an 8.02% increase [2]. - Tianji Co., Ltd. (天际股份) with a net buying amount of 198 million yuan, representing a 10% increase [2]. Institutional Net Selling - The top three stocks with the highest net selling by institutions were: - Xinquan Co., Ltd. (新泉股份) with a net outflow of 333 million yuan, representing a 10% decrease [3]. - Zhejiang Rongtai (浙江荣泰) with a net outflow of 282 million yuan, representing a 10% decrease [3]. - Shannon Chip Creation (香农芯创) with a net outflow of 224 million yuan, representing a 15.19% increase [3].

Core Viewpoint - Tianji Co., Ltd. (002759.SZ) announced that its stock price has deviated by a cumulative 20.90% over two consecutive trading days, indicating unusual trading volatility [1] Group 1: Company Developments - The company is advancing the industrialization of its lithium sulfide material preparation patent (Patent No. ZL202411448897.4) with a research team of 7 members, including 3 core researchers, and has invested approximately 5 million yuan in R&D expenses [1] - The project has successfully passed small-scale tests and will proceed to larger-scale trials to analyze cost and industrial feasibility of the candidate processes, aiming to identify a seed process before entering the pilot stage for further validation of production stability and equipment compatibility [1] Group 2: Industry Context and Challenges - The technical development process is still in its early stages, and transitioning from patent to stable, mass-produced commercial products will require extensive process optimization and validation [1] - If superior and lower-cost solid electrolyte technology emerges in the future, it may undermine the competitive advantage of lithium sulfide technology [1] - During the industrialization process, issues related to product consistency and stability often arise when scaling up successful laboratory formulations and processes [1] Group 3: Disclosure and Governance - The company, its controlling shareholders, and actual controllers have no undisclosed significant matters related to the company or any major matters in the planning stage [1]

Core Viewpoint - Tianji Co., Ltd. (002759.SZ) announced that its stock price has deviated by a cumulative 20.90% over two consecutive trading days, indicating abnormal trading fluctuations [1] Group 1: Stock Performance - The company's stock price experienced a cumulative deviation of 20.90% on November 7 and November 10, 2025, which is classified as abnormal trading activity according to Shenzhen Stock Exchange regulations [1] Group 2: Research and Development - The company is advancing the industrialization of its lithium sulfide material preparation patent (Patent No: ZL202411448897.4) with a team of 7 researchers, including 3 core R&D personnel, and has invested approximately 5 million yuan in R&D expenses [1] - The project has successfully passed small-scale testing and will proceed to larger-scale trials to analyze cost and industrial feasibility of the candidate processes before entering the pilot stage for further validation of production stability and equipment compatibility [1] Group 3: Commercialization Challenges - The technology development process is still in its early stages, and transitioning from patent to stable, mass-produced commercial products will require extensive process optimization and validation [1] - There is a potential risk that superior and lower-cost solid electrolyte technology could undermine the competitive advantage of lithium sulfide technology in the future [1] - Common issues such as product consistency and stability may arise during the pilot testing phase, despite successful laboratory formulations and processes [1] Group 4: Disclosure Status - The company, its controlling shareholders, and actual controllers have no undisclosed significant matters related to the company or any major matters in the planning stage [1]

Core Viewpoint - Tianji Co., Ltd. (002759.SZ) is advancing the industrialization of lithium sulfide material preparation, with a focus on a specific patent [1] Group 1: Project Development - The project consists of 7 R&D personnel, including 3 core researchers [1] - Approximately 5 million yuan has been invested in R&D expenses to date [1] - The project has successfully passed small-scale trials and will proceed to larger-scale testing to analyze cost and industrial feasibility [1] Group 2: Future Steps and Challenges - The company will identify a seed process before entering the pilot test phase to further validate production stability and equipment compatibility [1] - The technical development is still in the early stages, and the transition from patent to stable, mass-produced commercial products will require extensive process optimization and validation [1] - There is a risk that superior and lower-cost solid electrolyte technologies may emerge, potentially undermining the competitive advantage of lithium sulfide technology [1] Group 3: Risks in Industrialization - The successful formulations and processes in the laboratory may face consistency and stability issues during the pilot testing phase [1] - The project carries risks of underperformance in industrialization and commercialization [1]

Core Viewpoint - Tianji Co., Ltd. (002759) is advancing the industrialization of lithium sulfide material preparation patent (Patent No: ZL202411448897.4) with a dedicated team of 7 researchers, including 3 core members, and has invested approximately 5 million yuan in R&D [1] Group 1 - The project has successfully passed small-scale trials and will proceed to larger-scale testing to analyze cost and industrial feasibility of the candidate processes [1] - The company aims to identify a seed process before entering the pilot stage to further scale up and validate production stability and equipment compatibility [1] - The technical development is still in the early stages, and the transition from patent to stable, mass-produced commercial products will require extensive process optimization and validation [1]

Core Viewpoint - The company Tianji Co., Ltd. has announced that its subsidiary, Jiangsu Tairui Lian Teng Material Technology Co., Ltd., has obtained a patent for lithium sulfide materials and is advancing the industrialization of this patent [1] Summary by Sections Patent and R&D Progress - The company has received a patent for "A Lithium Sulfide Material and Its Preparation Method and Application" [1] - The R&D team consists of 7 members, with 3 core researchers [1] - Approximately 5 million yuan has been invested in R&D expenses [1] Testing and Development Stages - The project has successfully passed small-scale tests [1] - Future steps include conducting scale-up tests to analyze cost and industrial feasibility of candidate processes [1] - The company will identify a seed process and proceed to pilot testing to further scale up and validate production stability and equipment compatibility [1] Commercialization Challenges - The technical development process is still in the early stages [1] - Transitioning from patent to stable, mass-produced commercial products will require extensive process optimization and validation [1]

天际新能源科技股份有限公司（以下简称"公司"）股票连续二个交易日（2025 年 11 月 7 日、2025 年 11 月 10 日）收盘价格涨跌幅累计偏离 20.90%。根据《深 圳证券交易所交易规则》的有关规定，属于股票交易异常波动的情况。 二、公司关注、核实情况 针对股票交易异常波动，公司对有关事项进行了核查，并向控股股东及实际 控制人核实，不存在应披露而未披露的重大信息，现将有关情况说明如下： 1、公司前期披露的信息不存在需要更正、补充之处。 股票代码：002759 股票简称：天际股份 公告编号：2025-079 天际新能源科技股份有限公司 关于股票交易异常波动的公告 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 一、股票交易异常波动的情况 2、公司控股子公司江苏泰瑞联腾材料科技有限公司已获得《一种硫化锂材 料及其制备方法和应用》的专利授权，硫化锂是生产硫化物固态电池电解质的原 材料，目前公司正在推进该专利的产业化，相关研发和试验工作在有序进行中。 受宏观经济、行业政策、市场环境变化等因素的影响，该项目亦存在产业化、商 用化不及预期的风险。请广大投资者 ...

Group 1: Phosphate Chemical Sector - The phosphate chemical sector has seen a significant surge, with stocks like Chengxing Co. and Qingshuiyuan achieving three consecutive trading days of涨停 (limit up) [1][3] - Lithium hexafluorophosphate, a key material for electrolytes, has experienced a price increase of over 100% in the past month, reaching 124,000 yuan per ton as of November 10 [4][5] - The supply-demand situation for iron phosphate is tightening, with the domestic operating rate reaching 81.6%, up 30.1 percentage points year-on-year, and inventory decreasing to approximately 24,500 tons [6] Group 2: Coal Sector - Coal stocks have become active again, with Antai Group hitting涨停 and other companies like Xinji Energy and Zhongmei Energy also seeing gains [1][8] - The coal supply-demand balance is expected to remain tight, with both thermal coal and coking coal prices having upward elasticity due to strong demand and limited supply growth [8][9] - The coal mining industry is characterized by high asset quality and cash flow among leading companies, presenting a favorable investment opportunity [8][9]

Core Viewpoint - The phosphoric chemical sector has shown a notable increase of 2.48% as of the market close on November 10, ranking 8th among various concept sectors, with significant movements in stock prices and capital flows [1][2]. Group 1: Stock Performance - Within the phosphoric chemical sector, 34 stocks experienced gains, with Qing Shui Yuan reaching a 20% limit up, while companies like Wei Ling Co., Tian Ji Co., and Anada also hit the limit up [1]. - The top gainers included An Da Technology, Ya Ke Technology, and Xing Fu Electronics, which rose by 13.02%, 7.58%, and 5.70% respectively [1]. - Conversely, the stocks with the largest declines were Tai He Technology, Ba Tian Co., and Hunan Yu Neng, which fell by 4.54%, 2.65%, and 1.83% respectively [1]. Group 2: Capital Flow - The phosphoric chemical sector saw a net outflow of 626 million yuan from major funds, with 18 stocks receiving net inflows [2]. - Tian Ji Co. led the net inflow with 299 million yuan, followed by Lu Xi Chemical and Ya Ke Technology with net inflows of 256 million yuan and 190 million yuan respectively [2]. - The net inflow ratios for Wei Ling Co., Lu Xi Chemical, and Guo Guang Co. were 25.91%, 21.10%, and 11.14% respectively, indicating strong interest from major funds [3].