Yibin Tianyuan (SZ:002386) Zheng Quan Shi Bao Wang·2025-11-03 00:06Core Viewpoint - Tianyuan Co., Ltd. reported a revenue of 8.49 billion yuan for the first three quarters of 2025, a year-on-year decrease of 14.89%, while net profit reached 31.69 million yuan, an increase of 132.63% [1] Financial Performance - The company's net profit for the third quarter was 15.05 million yuan, showing a year-on-year growth of 113.90% and a quarter-on-quarter increase of 185.66% [1] - The overall performance in terms of revenue and net profit has been relatively stable this year [1] Shareholder Activity - As of the end of September, Hong Kong Central Clearing Limited increased its holdings by 564,900 shares, while Jinan Hanxiang Investment Management Partnership (Limited Partnership) became the company's tenth largest shareholder [1] Business Strategy - The company focuses on chemical and supply chain businesses, implementing refined management and "extreme manufacturing" projects to adapt to market changes [1] - Tianyuan Co. is advancing its "Double 1000" plan for titanium dioxide products, emphasizing differentiation and high added value [2] - The company is establishing an integrated circular economy industrial chain based on "chlorine-titanium-phosphorus-iron-lithium" and is actively sourcing or outsourcing in regions rich in lithium and titanium resources [2] Industry Trends - The domestic phosphate rock market is experiencing tight supply, with prices for 30% grade phosphate rock remaining above 900 yuan per ton for over two years [3] - The demand for lithium iron phosphate, which requires approximately 2 tons of phosphate rock to produce 1 ton, is driving growth in the phosphate chemical industry [4] - The domestic lithium iron phosphate supply chain is undergoing a chain reaction of "demand explosion - inventory reduction - accelerated expansion," with a projected industry capacity exceeding 3 million tons by 2026, a 50% increase from current levels [4]