TINCI(SZ:002709) Zheng Quan Shi Bao Wang·2025-10-31 09:20Core Insights - Tinci Materials reported a revenue of 10.843 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 22.34%, and a net profit attributable to shareholders of 421 million yuan, up 24.33% year-on-year, with a significant increase of 51.53% in net profit for Q3 alone [1] - The company is advancing its dual-core strategy of "integration" and "internationalization," focusing on enhancing production efficiency and reducing costs, which strengthens its competitive advantage in the electrolyte market [1][2] Financial Performance - For the first three quarters of 2025, Tinci Materials achieved a revenue of 10.843 billion yuan, a 22.34% increase year-on-year, and a net profit of 421 million yuan, up 24.33% year-on-year [1] - In Q3 2025, the net profit attributable to shareholders reached 153 million yuan, marking a 51.53% increase compared to the same period last year [1] Market Dynamics - The price of lithium hexafluorophosphate, a key raw material for electrolytes, has surged to nearly 100,000 yuan per ton, an increase of nearly 80% from mid-September's price of 56,000 yuan per ton, driven by rising demand from the energy storage battery sector and a reshuffling of industry capacity [2] - Tinci Materials has over 98% self-supply ratio for lithium hexafluorophosphate, establishing a comprehensive recycling industrial chain that enhances its market competitiveness [2] Strategic Developments - Tinci Materials secured significant long-term supply agreements, including a contract with Ruipu Lanjun to supply no less than 800,000 tons of electrolyte products from 2025 to 2030, and another with Chuang Neng New Energy for 550,000 tons over five years, totaling 1.35 million tons of secured future revenue [3] - The company is expanding its production capacity overseas, with plans for a 200,000-ton annual production facility in Texas, USA, and a comprehensive production base in Morocco capable of producing 150,000 tons of electrolyte products and key raw materials [3] Global Expansion - Tinci Materials announced plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange, aiming to enhance its financing channels and accelerate its international expansion strategy [4] - The company is positioned to benefit from the growing domestic energy storage market and rising raw material prices, which are expected to improve the supply-demand relationship and restore profitability for upstream enterprises in the lithium battery materials industry [4]