TINCI(SZ:002709) Chang Jiang Shang Bao·2025-09-09 00:05Core Viewpoint - The recent surge in interest for PEEK materials has significantly impacted the stock price of Tianqi Materials, leading to a notable increase in market capitalization and trading volume [1][2]. Group 1: Stock Performance - On September 8, Tianqi Materials achieved a trading halt with a closing price of 28.02 CNY per share, marking a total market value of 536.4 billion CNY and a trading volume of 156.2 million shares [1][2]. - The stock price has increased by 83.5% since April 2025, when it was at a low of 15.27 CNY per share [2]. Group 2: PEEK Materials Development - PEEK (Polyether Ether Ketone) is gaining traction in the capital market due to its applications in humanoid robots and electric vehicles, characterized by high strength, wear resistance, and low density [2]. - Tianqi Materials has been actively developing PEEK materials, focusing on manufacturing methods and upstream raw materials, currently in the pilot testing phase with small batch orders already supplied [1][2]. Group 3: Financial Performance - In the first half of 2025, Tianqi Materials reported a revenue of 70.29 billion CNY and a net profit of 2.68 billion CNY, reflecting year-on-year growth of 28.97% and 12.79% respectively [5][6]. - The core product, electrolyte business, showed strong growth with a revenue of 63.02 billion CNY, up 33.18% year-on-year [5][6]. Group 4: Strategic Initiatives - The company is preparing for an H-share listing to broaden international financing channels and is planning to invest in an electrolyte production base in Morocco to enhance its global supply chain [3]. - Tianqi Materials has received increased interest from northbound funds, with Hong Kong Central Clearing Limited increasing its stake by 326.57 million shares, making it the second-largest shareholder [4]. Group 5: Industry Outlook - The company maintains an optimistic outlook for the electrolyte and lithium hexafluorophosphate markets, anticipating a gradual recovery in product prices due to improved supply-demand dynamics and reduced capital expenditures across the industry [6]. - Tianqi Materials is also exploring new material businesses, including solid-state electrolytes, with plans for a pilot production line expected to be operational by mid-2026 [6].