Sou Hu Cai Jing·2025-11-03 01:50Core Viewpoint - In 2025, CATL is strategically investing in upstream supply chains, acquiring a significant stake in Tianhua New Energy, which enhances their collaboration and strengthens their position in the lithium battery materials market [1][3]. Group 1: Investment Details - CATL signed a share transfer agreement with Tianhua New Energy, acquiring 108 million shares, representing 12.95% of the company, for a total of 2.635 billion yuan at a price of 24.49 yuan per share [1][3]. - After the transaction, CATL's ownership in Tianhua New Energy will increase to 13.54%, making it the second-largest shareholder [3]. Group 2: Strategic Implications - The share transfer is expected to optimize Tianhua New Energy's shareholder structure without changing the actual control of the company [3]. - CATL's involvement is driven by the potential for strategic collaboration and business synergy between the two companies, given their positions in the supply chain [3][5]. Group 3: Company Background and Operations - Tianhua New Energy, established in 1997 and listed on the Shenzhen Stock Exchange in 2014, focuses on lithium battery materials, including battery-grade lithium hydroxide and lithium carbonate [3][5]. - The company has built significant production capacity, including projects for lithium hydroxide and lithium carbonate, and has a global presence in lithium resource acquisition [5]. Group 4: Market Position and Future Outlook - CATL is in a phase of substantial capacity expansion, with new production bases being developed in various regions, including Shandong and Guangdong, and plans for over 100 GWh of new energy storage capacity by 2026 [6]. - The partnership with Tianhua New Energy is expected to provide CATL with stable supply and quality control of upstream materials, which is crucial for its competitive edge in the industry [6].