签署日期：2025 年 11 月 7 日 1 / 14 信息披露义务人声明 一、本报告书系根据《中华人民共和国证券法》《上市公司收购管理办法》《公开 发行证券的公司信息披露内容与格式准则第 15 号——权益变动报告书》及其他相关 法律法规编写。 二、信息披露义务人签署本报告书已获得必要的授权和批准，其履行亦不违反信 息披露义务人合伙协议或内部规则中的任何条款，或与之相冲突。 天力锂能集团股份有限公司 简式权益变动报告书 上市公司名称：天力锂能集团股份有限公司 股票上市地点：深圳证券交易所 股票简称：天力锂能 股票代码：301152 信息披露义务人名称：安徽高新投新材料产业基金合伙企业（有限合伙） 住所：安徽省淮北市烈山区青龙山产业园陶博路三号双创服务中心 416 室 通讯地址：上海市黄浦区淮海中路 381 号中环广场 1601 室 股份变动性质：股份减少，持股比例下降至 5%以下 三、依据《中华人民共和国证券法》《上市公司收购管理办法》《公开发行证券的 公司信息披露内容与格式准则第 15 号——权益变动报告书》的规定，本报告书已全 面披露了信息披露义务人在天力锂能集团股份有限公司中拥有权益的股份变动情况。 四 ...

Investment Rating - The report maintains an "Outperform" rating for the lithium battery industry [1][6]. Core Insights - The lithium battery index has outperformed the CSI 300 index, with a year-to-date increase of 73.20%, surpassing the CSI 300 by 54.39 percentage points as of November 7, 2025 [3][10]. - The industry is experiencing continuous performance improvement, with a revenue of 1.78 trillion yuan in the first three quarters of 2025, representing a year-on-year growth of 12.81% [6][17]. - The demand for energy storage is exceeding expectations, with a significant increase in shipments of lithium batteries for energy storage, which grew by 99.07% year-on-year in the first three quarters of 2025 [6][24]. - The report suggests focusing on four main investment lines based on the industry's development trends and price movements in the lithium supply chain [6][32]. Summary by Sections Industry Performance - The lithium battery sector's revenue for 2024 was 2.25 trillion yuan, a slight increase of 0.14% year-on-year, while net profit was 111.39 billion yuan, down 21.68% [6][16]. - In the first three quarters of 2025, the sector's revenue reached 1.78 trillion yuan, with a net profit of 679.5 billion yuan, marking a year-on-year increase of 28.07% [6][24]. Market Dynamics - The sales of new energy vehicles in China reached 11.196 million units in the first nine months of 2025, a year-on-year increase of 34.55% [6][24]. - The production of power and other batteries totaled 1,121.90 GWh, reflecting a year-on-year growth of 51.40% [6][24]. Price Trends - The prices of key materials in the lithium supply chain have shown a general upward trend, with lithium hexafluorophosphate prices increasing by 90.40% to 119,000 yuan per ton since the beginning of 2025 [6][24]. - The price of electrolytes has also risen by 44.33% since the start of the year [6][24]. Investment Strategy - The report emphasizes maintaining an "Outperform" rating based on the industry's growth prospects and valuation levels, suggesting continued investment in four main lines [6][32].

Core Viewpoint - Tianli Lithium Energy (301152.SZ) reported a revenue of 1.535 billion yuan for the first three quarters of 2025, marking an 11.18% year-on-year increase, but the net profit attributable to shareholders was -89.74 million yuan, an improvement from -171 million yuan in the same period last year [1] Financial Performance - For the first nine months of 2025, the company achieved a revenue of 1.535 billion yuan, up 11.18% year-on-year [1] - The net profit attributable to shareholders was -89.74 million yuan, compared to -171 million yuan in the same period last year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -90.42 million yuan, improving from -179 million yuan year-on-year [1] - The net cash flow from operating activities was 51.47 million yuan, a significant increase of 114.11% year-on-year [1] Previous Year Comparison - In 2024, the company reported a revenue of 1.754 billion yuan, a decrease of 28.23% compared to the previous year [3] - The net profit attributable to shareholders for 2024 was -429 million yuan, compared to -502 million yuan in the previous year [3] - The net cash flow from operating activities in 2024 was -305 million yuan, down from a positive 124 million yuan in the previous year [3] Initial Public Offering (IPO) Details - Tianli Lithium Energy was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on August 29, 2022, with an initial public offering of 30.5 million shares at a price of 57.00 yuan per share [2] - The total amount raised from the IPO was 1.7385 billion yuan, with a net amount of 1.5503 billion yuan after expenses [3] - The company planned to use the raised funds for the construction of projects related to ternary cathode materials [3]

Group 1 - The core viewpoint of the news is that Tianli Lithium Energy's stock has experienced fluctuations, with a recent decline of 2.02% and a total market value of 3.81 billion yuan [1] - As of November 4, the stock price is reported at 32.09 yuan per share, with a trading volume of 125 million yuan and a turnover rate of 5.41% [1] - The company has seen a net outflow of main funds amounting to 3.00 million yuan, with significant buying and selling activities recorded [1] Group 2 - For the year-to-date, Tianli Lithium Energy's stock price has decreased by 2.31%, but it has shown a 2.13% increase over the last five trading days and a 9.71% increase over the last 20 days [1] - The company specializes in the research, production, and sales of lithium battery ternary materials and their precursors, with a revenue composition of 82.29% from ternary materials, 11.38% from lithium iron phosphate, 4.12% from lithium carbonate, and 2.20% from other sources [1] - As of September 30, the number of shareholders has increased by 4.71% to 18,200, while the average circulating shares per person have decreased by 4.53% to 3,899 shares [2] Group 3 - For the period from January to September 2025, Tianli Lithium Energy achieved an operating income of 1.535 billion yuan, representing a year-on-year growth of 11.18%, while the net profit attributable to shareholders was a loss of 89.74 million yuan, but this reflects a year-on-year improvement of 47.42% [2] - Since its A-share listing, the company has distributed a total of 36.59 million yuan in dividends [3]

Core Viewpoint - The article highlights the upcoming 2025 High-Performance Lithium Battery Annual Conference and the Golden Ball Awards, emphasizing the event's significance in recognizing innovation and excellence in the lithium battery industry [2][20]. Group 1: Event Details - The 2025 High-Performance Lithium Battery Annual Conference will take place from November 18-20, 2025, at the JW Marriott Hotel in Shenzhen Qianhai [2]. - The event is organized by GGII and features various sponsors, including Hai Moxing Laser and Dazhu Lithium Battery [2]. - The Golden Ball Awards, often referred to as the "Oscars of the lithium battery industry," aims to recognize credible products and brands within the sector [2]. Group 2: Participating Companies - Over 160 companies are participating in the 2025 Golden Ball Awards evaluation, showcasing the industry's growth and competitiveness [2]. - Notable companies mentioned include Xian Dao Intelligent, Ling Ge Technology, Bang Pu Recycling, and Tian Li Lithium Energy, each with significant achievements and contributions to the lithium battery sector [3][5][7][13]. Group 3: Company Highlights - Xian Dao Intelligent, founded in 1999, specializes in intelligent manufacturing solutions for lithium batteries and has over 3,200 authorized patents [3]. - Ling Ge Technology, established in 2012, focuses on automation solutions for powder handling and has over 160 patents [5]. - Bang Pu Recycling, founded in 2005, is a leader in battery recycling with a nickel-cobalt-manganese recovery rate of 99.6% and lithium recovery rate of 96.5% [7]. - Tian Li Lithium Energy, established in 2009, is focused on lithium battery materials and aims to create a comprehensive material industry closed-loop system [13].

Core Viewpoint - Tianli Lithium Energy reported significant revenue growth and a reduction in losses for Q3 2025, demonstrating strong operational resilience [1] Financial Performance - In Q3, the company achieved revenue of 569 million yuan, a year-on-year increase of 33.25%, indicating robust expansion in its core business [1] - The net profit attributable to shareholders narrowed to a loss of 29 million yuan, improving by 67.68% year-on-year, reflecting a faster recovery in profitability [1] - For the first three quarters, total revenue reached 1.535 billion yuan, up 11.18% year-on-year, maintaining steady growth amid industry fluctuations [1] - The net profit attributable to shareholders for the first three quarters was a loss of 89.74 million yuan, significantly reduced by 47.42% compared to the same period last year, with a non-recurring net profit improvement of 49% [1] Profitability and Cost Management - The gross profit margin for the first three quarters was 4.58%, an increase of 4 percentage points year-on-year, indicating improved profitability quality [1] - Operating expenses decreased by 32.69 million yuan year-on-year, with the expense ratio declining by 3.39 percentage points, showcasing effective cost control and operational efficiency [1] - Cash flow also improved during the first three quarters, further supporting the company's financial health [1]

Core Viewpoint - Tianli Lithium Energy is a significant player in the domestic lithium battery ternary materials sector, focusing on the research, production, and sales of lithium battery ternary materials and their precursors, with certain technological advantages [1] Group 1: Business Performance - For Q3 2025, Tianli Lithium Energy reported revenue of 1.535 billion yuan, ranking 30th out of 44 in the industry, significantly lower than the top competitors, Zhongwei Co. at 33.297 billion yuan and Greeenmei at 27.498 billion yuan, as well as below the industry average of 6.52 billion yuan and median of 4.845 billion yuan [2] - The main business composition includes ternary materials at 795 million yuan (82.29%), lithium iron phosphate at 111 million yuan (11.38%), lithium carbonate at 39.82 million yuan (4.12%), and others at 21.28 million yuan (2.20%) [2] - The net profit for the same period was -91.78 million yuan, ranking 28th in the industry, far behind the leaders, with the first place, Putailai, at 1.872 billion yuan and second place, China Baoneng, at 1.319 billion yuan, also lower than the industry average of 198 million yuan and median of 16.08 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Tianli Lithium Energy's debt-to-asset ratio was 49.87%, up from 43.63% in the previous year, which is lower than the industry average of 51.96%, indicating relatively good debt repayment capability [3] - The gross profit margin for the same period was 4.58%, an increase from 0.58% year-on-year, but still below the industry average of 10.89%, suggesting that profitability needs improvement [3] Group 3: Management and Shareholder Information - The chairman and general manager, Wang Ruiqing, has a salary of 805,200 yuan in 2024, a slight decrease from 809,600 yuan in 2023 [4] - As of September 30, 2025, the number of A-share shareholders increased by 4.71% to 18,200, with an average holding of 3,900.64 circulating A-shares, a decrease of 4.50% from the previous period [5]

Group 1 - The core viewpoint of the article highlights Tianli Lithium Energy's financial performance in Q3 2025, showing significant revenue growth despite a net loss [1] - The company reported a revenue of 569 million yuan in Q3 2025, representing a year-on-year increase of 33.25% [1] - The net profit for the same period was a loss of 28.85 million yuan, which is an improvement with a year-on-year decrease in loss of 67.68% [1]

Core Viewpoint - Tianli Lithium Energy (301152.SZ) reported a revenue of 1.535 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 11.18% [1] Financial Performance - The net loss attributable to shareholders of the listed company was 89.7432 million yuan [1] - The net loss attributable to shareholders, excluding non-recurring gains and losses, was 90.418 million yuan [1] - The basic loss per share was 0.76 yuan [1]

Group 1 - The core viewpoint of the article highlights Tianli Lithium Energy's financial performance in Q3 2023, showing a revenue increase but a net loss [1] - For the first three quarters of 2025, the company's revenue is approximately 1.535 billion yuan, reflecting a year-on-year increase of 11.18% [1] - The net profit attributable to shareholders is a loss of approximately 89.74 million yuan, with a basic earnings per share loss of 0.76 yuan [1] Group 2 - As of the report, Tianli Lithium Energy has a market capitalization of 4 billion yuan [1]