桃夭灼灼渲绯云，春曲为媒贡酒香。3月29日，古井贡酒·年份原浆2025第八届桃花春曲节暨第四届古粉 节在古井酒神广场盛大开幕。相关政府部门领导、国际友人、企业家代表、媒体嘉宾、重点经销商、古 粉代表、核心消费者代表，古井集团党委书记、董事长梁金辉等古井集团及古井贡酒股份公司高管参加 了活动。 辉致词 "阳春三月桃花开，温和湿润原生态，千年曲根薪火传，非遗技艺桃花曲……"伴随着桃花春曲制曲心法 口诀的朗朗诵读声，古井贡酒的制曲师傅们现场展演桃花春曲非遗制曲古法技艺。从堆麦粮、撒曲根， 到制曲、润曲，再到成曲，一系列严谨且精细的工序，在师傅们手中有条不紊地进行。活态的演绎让现 场嘉宾真切领略到古法制曲的独特魅力，彰显出古井人对传统工艺的坚守与创新。 图丨古井 贡酒的制曲师傅们现场展演桃花春曲非遗制曲古法技艺 八载春秋，八届盛会。每年一届的桃花春曲节是古井与古粉的双向奔赴之旅，活动现场举行了古井贡酒 推广大使证书颁发仪式，感恩古粉与古井同心同行，共酿岁月芬芳。 "贡献 贡创 贡享"第二届古井贡酒·年份原浆三贡节四大赛事正式启动。当美酒邂逅"三贡节"，创作者的 灵感如同春曲发酵，孕育出无限的创意与活力。 开幕仪式上， ...

Core Viewpoint - Tianqi Lithium Industry is focusing on technological innovation and optimization of its layout, with the establishment of the Innovation Research Institute aimed at advancing research in next-generation high-performance lithium battery materials and other related fields [1][2]. Group 1: Innovation Research Institute - The Tianqi Lithium Innovation Research Institute has a total construction area of over 4,500 square meters and is located in the Chengdu Science and Technology Innovation Ecological Island [1]. - The institute will focus on key research areas such as comprehensive utilization of mineral resources, new lithium extraction technologies, and battery recycling [1][2]. - It aims to serve as a center for attracting high-level scientific research talent and facilitating the exchange of knowledge, technology, and experience [2]. Group 2: Achievements and Collaborations - The institute has already developed groundbreaking technologies, including the world's first preparation technology for lithium sulfide, a key material for solid-state electrolytes, which enhances battery energy density and safety [2]. - The third Innovation Season attracted 39 high-quality innovation projects from both domestic and international participants, promoting collaboration with several universities and research institutions [3]. - Tianqi Lithium has established deep cooperation with institutions like Beijing University of Science and Technology and Harbin Institute of Technology, focusing on the development of new materials and technologies for next-generation solid-state batteries [3]. Group 3: Future Plans - In 2024, the company plans to initiate over 20 company-level projects covering new product development and cutting-edge technology reserves [3]. - The company aims to publish 14 SCI/EI papers and achieve record highs in patent applications and grants [3].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company achieved a significant increase in net profit attributable to shareholders, with a growth of 221% year-on-year for 2024, driven by strong sales in electronic ceramics and high-pressure electrical powder products [8] - The company is entering a new capacity release cycle in 2025, with an additional 60,000 tons of capacity, including 50,000 tons for electronic ceramics and glass, which is expected to enhance profitability [8] - The ongoing research and development efforts are yielding results, particularly in high-performance chip packaging materials, which will help the company expand into high-end application markets [8] - The company is expected to enter a phase of high-quality rapid development due to strong growth in downstream market demand [8] Financial Summary - Total revenue for 2024 is projected at 2.55 billion yuan, a year-on-year increase of 34.99% [8] - The net profit attributable to shareholders for 2024 is expected to be 0.39 billion yuan, reflecting a year-on-year growth of 221.44% [8] - Earnings per share (EPS) for 2024 is forecasted at 0.37 yuan, with corresponding P/E ratios of 91.53, 61.87, and 48.41 for 2025 and 2026 [1][9] - The company plans to invest 11.01 million yuan in R&D in 2024, a 23.25% increase from the previous year [8]