一、股东股份质押基本情况 1、本次延期购回基本情况 | 股东 | 是否为控股 股东或第一 | 本次延期购 | 占其所 | 占公司 | 是否为 | 是否为 | 质押 | 原质押 | 延期后 | | 质押 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 大股东及其 | 回的质押数 | 持股份 | 总股本 | 限售股 | 补充质 | 起始日 | 到期日 | 质押 | 质权人 | 用途 | | | 一致行动人 | 量（股） | 比例 | 比例 | | 押 | | | 到期日 | | | | 王美雨 | 是 | 23,500,000 | 39.75% | 1.81% | 否 | 否 | 2025 年 6 月 17 日 | 2025 年 10 月 17 日 | 2026 年 4 月 17 日 | 浙江稀 华物资 有限公 | 个人 融资 | | | | | | | | | | | | 司 | | | 合 计 | -- | 23,500,000 | 39.75% | 1.81% | -- | -- | -- ...

Core Insights - The rubber sector experienced a rise of 1.95% on October 21, with Zhongyu Technology leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Sector Performance - Zhongyu Technology (code: 920694) saw a significant increase of 29.96%, closing at 25.07 with a trading volume of 96,500 shares and a transaction value of 234 million yuan [1] - Yanggu Huatai (code: 300121) increased by 6.37%, closing at 16.02 with a trading volume of 287,100 shares and a transaction value of 454 million yuan [1] - Other notable performers include: - Sanwei Equipment (code: 920834) up 5.81% to 15.67 [1] - Keqiang Co., Ltd. (code: 920665) up 4.46% to 13.58 [1] - Tiantie Technology (code: 300587) up 3.24% to 7.65 [1] Capital Flow - The rubber sector saw a net inflow of 61.99 million yuan from main funds, while retail funds experienced a net outflow of 21.72 million yuan [3] - Speculative funds had a net outflow of 40.27 million yuan [3]

Market Overview - The Shanghai Composite Index closed at 3869.25 points, with a change of 0.10% [1] - The total trading volume of A-shares reached 1,280.495 billion yuan [1] Technical Analysis - A total of 175 A-shares experienced a death cross between the 5-day and 10-day moving averages [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Yuanjie Technology: 5-day MA down by 2.50% from the 10-day MA [1] - Shanshan Shares: 5-day MA down by 2.32% from the 10-day MA [1] - Zijian Electronics: 5-day MA down by 2.09% from the 10-day MA [1] Individual Stock Performance - Yuanjie Technology (688498): Increased by 3.59% with a trading turnover of 2.90% [1] - Shanshan Shares (600884): Increased by 0.22% with a trading turnover of 3.13% [1] - Zijian Electronics (301121): Decreased by 0.60% with a trading turnover of 3.19% [1] - Other notable stocks include: - WuXi AppTec (603259): Increased by 2.21% [1] - Fabon (300925): Increased by 1.67% [1] Summary of Stocks with Death Cross - Stocks with a death cross and their respective metrics include: - Yuanjie Technology: 5-day MA at 374.57 yuan, 10-day MA at 384.17 yuan [1] - Shanshan Shares: 5-day MA at 14.17 yuan, 10-day MA at 14.51 yuan [1] - Zijian Electronics: 5-day MA at 48.72 yuan, 10-day MA at 49.76 yuan [1] - The latest prices of these stocks are below their 10-day moving averages, indicating potential bearish trends [1]

Core Points - The Shanghai Composite Index is at 3876.54 points with a change of 0.29%, and the total trading volume of A-shares is 961.216 billion yuan [1] - A total of 158 A-shares have seen their 5-day moving average cross below the 10-day moving average, indicating potential bearish trends [1] Group 1: Stocks with Significant Moving Average Crosses - Yuanjie Technology (688498) has a 5-day moving average of 374.30 yuan, which is 2.53% lower than its 10-day moving average of 384.03 yuan, with a current price of 357.58 yuan, down 6.89% from the 10-day average [1] - Shanshan Co., Ltd. (600884) shows a 5-day moving average of 14.14 yuan, down 2.43% from its 10-day moving average of 14.49 yuan, with a current price of 13.29 yuan, down 8.28% from the 10-day average [1] - ZhiJian Electronics (301121) has a 5-day moving average of 48.75 yuan, which is 2.05% lower than its 10-day moving average of 49.78 yuan, with a current price of 46.54 yuan, down 6.50% from the 10-day average [1] Group 2: Other Notable Stocks - WuXi AppTec (603259) has a 5-day moving average of 102.27 yuan, which is 1.97% lower than its 10-day moving average of 104.33 yuan, with a current price of 98.12 yuan, down 5.95% from the 10-day average [1] - Fabon Information (300925) shows a 5-day moving average of 25.73 yuan, down 1.78% from its 10-day moving average of 26.20 yuan, with a current price of 25.13 yuan, down 4.07% from the 10-day average [1] - Loka (603829) has a 5-day moving average of 21.29 yuan, which is 1.73% lower than its 10-day moving average of 21.67 yuan, with a current price of 20.07 yuan, down 7.37% from the 10-day average [1]

Core Viewpoint - Tian Tie Technology is aggressively investing in the solid-state battery sector despite facing significant financial challenges, including high debt levels and operational losses, raising concerns about the sustainability of its business strategy [1][2][3]. Financial Performance - Tian Tie Technology's revenue for the first half of 2025 was 667 million, a year-on-year decline of 34.31%, with a net loss of 68 million, indicating a continued worsening of financial performance [4]. - As of June 2025, the company had only 247 million in cash on hand, while its interest-bearing debt exceeded 2 billion, with approximately half being short-term borrowings [5]. Debt and Financing Issues - The company's debt ratio reached a historical high of 59% by June 2025, following a period of increased borrowing and capital expenditures [6]. - Tian Tie Technology has faced challenges in financing, including a failed capital increase in 2023 when a major shareholder, Wang Meiyu, opted out despite regulatory approval [13]. Investment and Expansion Plans - The company has committed nearly 1 billion to expand its solid-state battery operations, which is expected to further strain its financial resources [8]. - Tian Tie Technology is investing 1.2 billion in a project in Anhui to produce lithium battery chemicals, with production expected to begin in late 2024 [9]. - Additionally, the company plans to invest in a project for modified graphite anode materials, projected to be completed by mid-2026 [10]. Shareholder Actions - Wang Meiyu has been reducing his stake in the company, having sold shares worth approximately 327 million through various transactions [14]. - He has also pledged 49.5 million shares, representing 50.47% of his holdings, raising questions about his confidence in the company's future [14].

Core Viewpoint - Tian Tie Technology has announced its decision to invest in and acquire equity from Xin Jie Energy to further develop its solid-state battery business [2][6]. Investment and Equity Transfer - The company plans to establish a partnership with a total investment of RMB 301.5 million (approximately USD 4.2 million) to jointly invest in Xin Jie Energy [3][4]. - Tian Tie Technology will acquire 30% equity of Zhejiang Xin Jie from Xin Jie Energy for RMB 3 million (approximately USD 420,000) [5]. Strategic Importance - These transactions represent a significant move for Tian Tie Technology in the new energy lithium material sector, aligning with its main business and enhancing its competitive edge without affecting daily operations [6]. Company Background - Tian Tie Technology, established in 2003, operates in two main areas: vibration reduction and lithium new energy materials. It produces key materials such as lithium metal, n-butyl lithium, and anhydrous lithium chloride through its subsidiaries [7]. Xin Jie Energy Overview - Founded in 2020, Xin Jie Energy focuses on the research and production of solid-state lithium batteries, with a core technology involving oxide solid electrolytes paired with lithium metal anodes. It plans to release a solid-state battery with an energy density of 480 Wh/kg by November 2024 [8]. Production Capacity - Xin Jie Energy has established a 200 MWh pilot production line in 2023 and plans to invest in a 10 GWh lithium metal solid-state battery production capacity, with the first phase involving a 2 GWh production line [9].

Market Overview - On October 10, the rubber sector experienced a slight decline of 0.07%, with Tian Tie Technology leading the losses [1] - The Shanghai Composite Index closed at 3897.03, down 0.94%, while the Shenzhen Component Index closed at 13355.42, down 2.7% [1] Stock Performance - Notable gainers in the rubber sector included: - Haida Co., Ltd. (300320) with a closing price of 10.34, up 2.48% on a trading volume of 159,500 shares and a turnover of 164 million yuan [1] - Quecheng Co., Ltd. (605183) with a closing price of 20.70, up 2.42% on a trading volume of 35,300 shares and a turnover of 72.75 million yuan [1] - Longxing Technology (002442) with a closing price of 6.39, up 1.91% on a trading volume of 71,100 shares and a turnover of 45.16 million yuan [1] Fund Flow Analysis - The rubber sector saw a net outflow of 50.51 million yuan from main funds, while speculative funds had a net inflow of 67.47 million yuan, and retail investors experienced a net outflow of 16.96 million yuan [2] - Key stocks with significant fund flow included: - Kexin Innovation Source (300731) with a main fund net inflow of 20.52 million yuan, but a retail net outflow of 31.99 million yuan [3] - Zhen'an Technology (300767) with a main fund net inflow of 18.33 million yuan and a retail net outflow of 33.90 million yuan [3] - Tongcheng New Materials (603650) with a main fund net inflow of 1.81 million yuan, but a significant speculative fund outflow of 26.84 million yuan [3]

合伙企业投资于深圳欣界能源科技有限公司（简称"欣界能源"）。普通合伙人应确保欣界能源（含子公 司）将合伙企业的全部投资资金（用于合伙费用的除外）专项用于在萧山经济技术开发区投建工厂（工 商名：欣界能源科技（浙江）有限公司，简称"目标项目"）。 格隆汇10月9日丨天铁科技(300587.SZ)公布，公司全资子公司杭州天铁锂电科创发展有限责任公司（简 称"天铁科创"）、浙江天铁锂电科技发展有限责任公司（简称"天铁锂电"）与专业投资机构杭州萧山国 际创业投资发展有限公司（简称"萧山创投基金"）、杭州萧山经济技术开发区产业基金有限公司（简 称"经开基金"）于2025年9月30日签署了《杭州天铁锂电投资合伙企业（有限合伙）（暂定名）合伙协 议》，拟共同出资设立杭州天铁锂电投资合伙企业（有限合伙）（暂定名，具体以工商登记机关最终核 准登记的名称为准，简称"合伙企业"），全体合伙人认缴出资总额为30,150万元（人民币，下同），其 中天铁科创作为普通合伙人和执行事务合伙人认缴出资100万元，占比0.33%，天铁锂电作为有限合伙 人认缴出资7,950万元，占比26.37%，萧山创投基金和经开基金均作为有限合伙人各认缴出资11 ...

Core Viewpoint - Tian Tie Technology (300587.SZ) has signed a share transfer agreement with Shenzhen Xinjie Energy Technology Co., Ltd., acquiring a 30% stake in its wholly-owned subsidiary, Zhejiang Xinjie, for 3 million yuan, which aligns with the company's strategic development in the solid-state lithium battery sector [1]. Group 1 - The share transfer agreement is set to be executed by September 30, 2025 [1]. - Zhejiang Xinjie is a project company established by Xinjie Energy focused on the production of solid-state lithium batteries [1]. - This transaction is relevant and synergistic to the company's main business, enhancing its competitiveness without disrupting normal operations [1].

Core Points - Tian Tie Technology announced that its controlling shareholders, Xu Kongbin and Xu Yinbin, have extended the pledge of 2.46% of the company's shares [1] - The number of shares pledged is 32 million, which represents 2.46% of the total share capital [1] - The pledge started on January 14, 2025, with the original expiration date set for October 8, 2025, now extended to April 8, 2026 [1] - The pledgee is Zhejiang Agricultural Development Microfinance Co., Ltd., and the purpose of the pledge is for personal financing [1]