天奇股份：公司锂电池循环业务涵盖电池回收、梯次利用、破碎及再生利用

Core Insights - Tianqi Co., Ltd. announced its lithium battery recycling business, which includes battery recovery, cascade utilization, crushing, and regeneration [2] - The core subsidiary, Tianqi Jintai, has over 20 years of experience in lithium battery resource utilization and is a leading enterprise in the domestic recycling whitelist [2] - The company has established a processing capacity of 100,000 tons of waste lithium batteries, with 50,000 tons for ternary batteries and 50,000 tons for iron-lithium batteries [2] Industry Overview - The lithium battery recycling industry faces challenges such as insufficient raw material supply and underutilized capacity from 2025 onwards [2] - However, with the relaxation of black powder imports and rising prices of key metals, the company's gross profit in this sector has turned profitable, showing a significant reduction in losses [2] - The industry is moving towards a more regulated and healthier development due to the implementation of domestic and international regulatory rules and industry policies [2] Company Strategy - The company is focusing on the automotive aftermarket, overseas markets, and recycling channels from battery manufacturers and vehicle manufacturers [2] - It aims to establish a comprehensive lithium battery recycling system that covers both domestic and international markets, creating a unique closed-loop lithium battery recycling industry [2]