天际股份大股东一日减持455万股，数亿元资产被抵押融资

Core Viewpoint - Tianji Co., Ltd. (002759.SZ) has seen its controlling shareholders reduce their stake through block trading after a series of stock price increases, raising concerns about the company's financial health and future performance [2][3][4]. Shareholding Changes - The controlling shareholders, Wu Xidun and Chi Jinhua, sold a total of 4,550,000 shares at a closing price of 21.69 yuan per share, amounting to approximately 98.68 million yuan [2]. - After the reduction, the shareholders still hold 14.96% of the company's shares, maintaining control [2]. - The reduction represents nearly 3% of the total share capital, with the shareholders previously holding 15.87% [2][3]. Pledged Shares - As of October 13, the controlling shareholders had pledged a significant portion of their shares, with Shantou Tianji pledging 59,488,100 shares (96% of its holdings) and Xingjia International pledging 9,000,000 shares (67% of its holdings) [5]. - The total number of pledged shares represents 15.16% of the company's total share capital, with a financing balance of 186 million yuan [5][6]. Financial Performance - Tianji Co., Ltd. has experienced declining revenues and increasing losses, with revenues of 32.75 billion yuan in 2022, dropping to 21.93 billion yuan in 2023, and projected at 20.55 billion yuan in 2024 [7]. - The net profit has also decreased significantly, from 5.26 billion yuan in 2022 to a loss of 1.36 billion yuan in 2024 [7]. - The company's main product, lithium hexafluorophosphate, has seen a drastic price drop from 600,000 yuan per ton in 2020-2022 to around 50,000 yuan per ton in the second quarter of this year [7][8]. Market Dynamics - Despite increasing sales volume of lithium hexafluorophosphate, the sales revenue has declined due to lower prices, with sales volume increasing from 11,636.37 tons in 2022 to 25,706 tons in 2024 [8]. - The average selling price has decreased by 13% compared to the same period last year, leading to a slight loss in the lithium hexafluorophosphate business [8]. - However, prices have started to rise again since August, reaching 73,000 yuan per ton by October 15 [8][10]. Industry Outlook - Analysts suggest that the demand from leading battery manufacturers is high, while many smaller manufacturers have ceased operations due to previous price drops, indicating a potential supply shortage in the near term [9][10].