THXN(SZ:300390) Hua Xia Shi Bao·2025-11-20 00:31Core Viewpoint - The surge in stock prices of Tianhua New Energy is driven by the booming demand for energy storage and the rebound in lithium carbonate prices, despite a significant decline in the company's revenue and net profit projections for 2023 and 2024 [1][6]. Company Performance - Tianhua New Energy's stock price reached 57.44 CNY per share as of November 19, with an increase of over 88% in November and over 155% year-to-date, positioning it among the top performers in the sector [1][2]. - The company's revenue and net profit are projected to decline significantly, with revenues expected to drop from 170.30 billion CNY in 2022 to 66.08 billion CNY in 2024, representing a year-on-year decrease of 38.54% and 36.87% respectively [6]. - The net profit is also forecasted to decline sharply, from 65.86 billion CNY in 2022 to 8.48 billion CNY in 2024, indicating a year-on-year decrease of 74.81% and 48.91% [6]. Market Context - The lithium battery industry is experiencing a collective rise in stock prices, with other companies like Zhongyi Technology and Rongbai Technology also seeing significant gains, attributed to the increasing demand for energy storage solutions [1][5]. - The market is currently viewed as being in a phase of price correction rather than a complete cycle reversal, as the industry is still adjusting from previous rapid capacity expansions [5]. Strategic Moves - Tianhua New Energy plans to acquire 75% of Suzhou Tianhua Times for 12.54 billion CNY, aiming to enhance its investment and development in overseas lithium resources and mitigate potential competition risks [6][7]. - The acquisition is expected to support the company's long-term development strategy without significantly impacting its financial performance in the near term [7].