Core Points - Tian Tie Technology announced the establishment of a partnership with professional investment institutions for joint investment in lithium battery technology [2] - The partnership involves Tian Tie's wholly-owned subsidiaries and two investment firms, indicating a strategic move to enhance its capabilities in the lithium battery sector [2] - The partnership has successfully completed business registration and obtained a business license, marking a significant step in the company's investment strategy [2] Company Summary - The board meeting scheduled for September 30, 2025, approved the investment proposal, highlighting the company's proactive approach to growth [2] - The newly formed partnership, named Hangzhou Tian Tie Lithium Battery Investment Partnership (Limited Partnership), aims to leverage external expertise and funding for development [2] - The involvement of established investment firms suggests confidence in the potential of the lithium battery market and the company's future projects [2]

证券代码：300587 证券简称：天铁科技 公告编号：2025-099 浙江天铁科技股份有限公司 关于全资子公司与专业投资机构共同投资的进展公告 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，公司收到通知，合伙企业已完成工商登记并取得了《营业执照》 ， 具体信息如下： 一、对外投资情况概述 浙江天铁科技股份有限公司（以下简称"公司"）于2025年9月30日召开第 五届董事会第十六次会议，审议通过了《关于全资子公司与专业投资机构共同投 资的议案》，同意公司全资子公司杭州天铁锂电科创发展有限责任公司、浙江天 铁锂电科技发展有限责任公司与专业投资机构杭州萧山国际创业投资发展有限 公司、杭州萧山经济技术开发区产业基金有限公司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，以下简称"合伙企业"），具体内容详见公司于2025年10月9日刊登在中国 证监会指定的创业板信息披露网站的《关于全资子公司与专业投资机构共同投资 的公告》（公告编号：2025-094）。 名称：杭州天铁祥晖企业管理合伙企业（有限合伙） 统 ...

Core Insights - The lithium-ion battery manufacturing industry in China has seen a significant increase in value added, with a year-on-year growth of 29.8% in the first three quarters of the year, driven by advancements in smart manufacturing and green manufacturing [1] - Solid-state battery technology is making breakthroughs, addressing safety and energy density issues of traditional liquid lithium batteries, and is expected to reshape the global lithium battery industry [1] - A recent achievement by Chinese scientists in solid-state lithium batteries has doubled the range of a 100kg battery pack from 500km to 1000km, enhancing the commercial viability of solid-state batteries [1] Industry Developments - Tian Tie Technology has strategically positioned itself in the solid-state battery sector, signing a framework agreement with leading solid-state battery company Xinjie Energy for long-term supply of lithium metal anode materials and deep collaboration across the entire solid-state battery technology chain [2] - The company announced an investment of 302 million yuan for the construction of a solid-state battery production base with an initial capacity of 2 GWh, targeting high-growth sectors such as eVTOL, robotics, and 3C products [2] - Solid-state batteries are expected to significantly improve the performance of drones and flying cars by reducing weight and enhancing safety, thus facilitating the commercialization of urban air mobility [2] Technological Advancements - Solid-state batteries have a theoretical energy density of 500 Wh/kg, surpassing the 300 Wh/kg limit of traditional lithium batteries, making them suitable for high-performance applications like humanoid robots [3] - The global solid-state battery market is projected to reach 229.2 billion yuan by 2030, with lithium metal recognized as the ultimate anode material for next-generation high-energy solid-state batteries [3] - Tian Tie Technology's Anhui Tian Tie factory is set to begin trial production of lithium metal with an annual capacity of 3000 tons, enhancing the company's lithium compound production capabilities [3] Competitive Advantages - Tian Tie Technology possesses a comprehensive know-how in the lithium metal supply chain, with its subsidiary Anhui Tian Tie being one of the few companies in China capable of processing thousands of tons of lithium metal [4] - The company has established a competitive edge through an integrated approach that combines raw material processing, product development, and service offerings, which is expected to yield cost advantages during mass production [4] - Anhui Tian Tie has developed advanced technologies for lithium metal production, ensuring high purity and safety, aligning with the demands of next-generation battery technologies [4] Market Positioning - The recent advancements in solid-state batteries indicate that China is leading globally in completing a full-cycle loop of policy, research, capital, and production capacity [5] - Tian Tie Technology is positioned to transition from a supplier of anode materials to a benchmark enterprise in next-generation power batteries, potentially expanding its growth opportunities [6]

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]