Core Viewpoint - Tianqi Lithium Industry stated that its production and operations are normal, with no undisclosed matters or risk warnings that need to be disclosed according to relevant regulations [1] Group 1: Company Operations - The company's stock price fluctuations are influenced by multiple factors, including macroeconomic environment, industry cycle fluctuations, market liquidity, and investor expectations [1] - The lawsuit related to Chile does not involve a specific monetary claim, and the rejection of the appeal will not change the assumptions related to the impairment test of the long-term equity investment in SQM [1] Group 2: Financial Management - The company has established a comprehensive commodity futures hedging management system for lithium carbonate and has a professional management team in place [1] - The board of directors approved a proposal for conducting commodity futures hedging business for lithium carbonate in March 2025, with strict adherence to the authorized limits and based on actual production and business needs [1] Group 3: Future Outlook - The company will continuously assess the value changes of its long-term equity investment in SQM based on the progress of related transactions and future market conditions [1] - The company commits to timely information disclosure in accordance with relevant laws and regulations if any related information arises [1]

Group 1 - The company Tianji Co., Ltd. has a financing balance of 711 million, accounting for 3.59% of its market capitalization as of February 12 [2] - On February 11, the company received a notice from the China Securities Regulatory Commission (CSRC) regarding an investigation into alleged violations of information disclosure laws [2] - Investors who suffered losses due to the company's failure to disclose information accurately or timely can participate in compensation claims if they held shares on February 11, 2026 [2] Group 2 - Tianji Co., Ltd. and its subsidiaries primarily produce lithium hexafluorophosphate, with the price of battery-grade lithium fluoride being significantly influenced by the price of upstream lithium carbonate [3] - To mitigate the impact of price fluctuations in lithium carbonate, the company plans to engage in commodity futures hedging to stabilize production costs [3] - The company has established clear regulations regarding the hedging business, which is deemed necessary and feasible for ensuring stable development [3] Group 3 - Tianji Co., Ltd. has participated in eight bidding projects and holds 184 trademark registrations [4]

Group 1 - The company held its ninth board meeting on February 11, 2026, where all nine directors were present, and the meeting was conducted in accordance with legal requirements [1][2][3] - The board approved the establishment of a technology joint research center with Tsinghua University, with an investment of 50 million yuan, which is not expected to have a significant short-term impact on the company's performance [2] - The board also approved the proposal for the company to conduct commodity futures hedging business for the year 2026, which will be submitted for shareholder approval [4][9] Group 2 - The purpose of the hedging business is to mitigate risks associated with price fluctuations of raw materials such as copper, zinc, aluminum, nickel, and lead, which are essential for the company's production [10] - The company plans to invest up to 3 billion yuan in the hedging business using its own funds, with the investment period lasting for 12 months from the date of shareholder approval [11][13] - The hedging activities will be limited to raw materials directly related to the company's operations, and the company will implement strict internal controls and risk management measures [12][18] Group 3 - A second extraordinary general meeting of shareholders is scheduled for March 3, 2026, to discuss the approved proposals from the board meeting [6][20] - The meeting will allow for both on-site and online voting, with specific timeframes for participation [23][24] - Shareholders must register to attend the meeting, and detailed procedures for voting and registration have been outlined [30][31]

Group 1 - The company does not produce silver paste and does not directly procure silver, hence it has no plans to store silver to stabilize silver paste costs [2] - The company plans to reduce the risk of raw material price fluctuations through commodity futures hedging [2]

Group 1 - The core point of the article is that Shengxin Lithium Energy announced the approval of a proposal to conduct commodity futures hedging business, which will be submitted for shareholder meeting review [2] - The maximum margin limit for the hedging business is set at 1.5 billion RMB, excluding physical delivery amounts of futures [2] - The funds within the approved margin limit can be reused, and the margin amount for any position at any time will not exceed the approved limit [2]

Group 1 - The core point of the announcement is that Angang Steel Co., Ltd. plans to continue its commodity futures hedging business in 2026, with a maximum margin of RMB 900 million, which accounts for 1.89% of the company's audited net assets from the previous year [2][3]. - The board of directors approved the hedging business with a unanimous vote of 9 in favor, indicating strong internal support for this strategy [2][20]. - The hedging activities are aimed at mitigating price volatility risks associated with raw materials and finished products, which include iron ore, coking coal, and various steel products [4][7]. Group 2 - The company will conduct futures trading through recognized exchanges such as the Shanghai Futures Exchange and the Dalian Commodity Exchange, focusing on specific commodities like iron ore and steel [7]. - The maximum hedging volume for various products in 2026 is set at 2 million tons for steel, 4.5 million tons for iron ore, and 490,000 tons for coking coal and other related products [7]. - The funding for these futures transactions will come from the company's own funds, ensuring no reliance on raised capital or bank loans for these activities [9]. Group 3 - The company has established a management system for its hedging activities, including a dedicated supervisory department to ensure compliance and effectiveness of the hedging strategy [11]. - Risk management measures are in place to address potential market, liquidity, credit, operational, and legal risks associated with the hedging activities [12][13]. - The company has a clear policy against speculative trading, ensuring that all hedging positions are aligned with actual inventory and sales plans [14].

Core Viewpoint - Tianqi Lithium has established a comprehensive commodity futures hedging management system to mitigate potential risks from price fluctuations of its main products [1] Group 1 - The company has a professional management team dedicated to the commodity futures hedging strategy [1] - The board of directors approved a proposal for conducting lithium carbonate commodity futures hedging business in March 2025 [1] - The company strictly adheres to the authorized limits set by the board and bases its hedging strategies on actual production and business needs [1] Group 2 - The company formulates hedging strategies around its spot risk exposure [1] - The operational execution of the hedging business is aligned with the company's production and operational requirements [1]

Core Viewpoint - Tianqi Lithium has established a comprehensive commodity futures hedging management system to mitigate potential risks from price fluctuations of its main products [1] Group 1: Hedging Strategy - The company has a professional management team dedicated to the implementation of its hedging strategy [1] - The board of directors approved a proposal for conducting lithium carbonate commodity futures hedging business in March 2025 [1] - The company adheres to the authorized limits set by the board and bases its hedging strategies on actual production and business needs [1] Group 2: Risk Management - The company has clearly defined roles, responsibilities, approval authority, risk assessment, and reporting obligations in its internal management system for commodity futures and derivatives hedging [1] - Details regarding the specific implementation of the hedging business and related profit and loss will be disclosed in the company's periodic reports [1] - The relevant management system documents can be found on the company's official disclosure platform [1]

Core Viewpoint - The company anticipates that the rise in copper and aluminum prices in 2025 will significantly impact its production costs, prompting it to implement hedging strategies to mitigate risks associated with raw material price fluctuations [1] Group 1: Impact of Raw Material Prices - Aluminum accounts for approximately 70%-80% of the manufacturing cost of the company's GIL products, with a projected 10% increase in manufacturing costs due to rising aluminum prices in 2025 [1] - Copper constitutes about 30%-40% of the manufacturing cost of the company's transformer products, with a similar expected 10% increase in manufacturing costs due to rising copper prices in 2025 [1] Group 2: Risk Management Strategies - To effectively control the risks associated with raw material price volatility, the company has approved the initiation of commodity futures hedging activities during its fifth board meeting and the ninth supervisory board meeting [1] - The goal of these hedging activities is to enhance the company's overall risk resilience and ensure stable growth in its core business [1] - As of the date of the investor relations activity record, the related hedging activities have not yet commenced [1]

Group 1: Financial Performance - In the first three quarters of 2025, the company's revenue was 457.2 million CNY, a decrease of 31.66% year-on-year, and the net profit attributable to shareholders was 73.82 million CNY, down 45.72% year-on-year [2] - Q3 2025 revenue was 129.6 million CNY, a decline of 29.64% year-on-year, with a net profit of 7.784 million CNY, down 73.32% year-on-year [2] - The decline in performance was primarily due to reduced income from GIL products and system services, increased R&D investment, and rising expense ratios [2] Group 2: Impact of Raw Material Prices - The rise in copper and aluminum prices has affected production costs, with aluminum accounting for 70%-80% of GIL product costs, leading to a 10% increase in manufacturing costs due to higher aluminum prices [3] - Copper constitutes 30%-40% of transformer product costs, also resulting in a 10% increase in manufacturing costs due to rising copper prices [3] - The company has initiated commodity futures hedging to mitigate raw material price volatility risks [3] Group 3: Product Development and Market Strategy - The company has the capability to produce a full range of GIL products from 10kV to 1000kV, with several products recognized as internationally or domestically advanced [4] - The company is focusing on developing low-cost GIL products to replace high-voltage cables and is actively pursuing overseas market expansion [4] - A new factory in Huai'an is set to produce 2,500 tons of high-end fluorinated materials, which may benefit from growth in data centers and chip industries [5][6] Group 4: International Orders and Market Expansion - On January 7, 2026, the company received a bid notification for four 132kV substations in Pakistan, with a total bid amount of approximately 75.79 million CNY, representing 7.00% of the audited revenue for 2024 [7] - A contract was signed for supplying 13 units of 35kV oil-immersed transformers to a North American data center, totaling approximately 62.98 million CNY, accounting for 5.80% of the 2024 audited revenue [7] - The company is expanding its presence in North America, focusing on data center markets and leveraging its digital production lines and clean factory advantages [10][11] Group 5: Production Capacity and Standards - The company has completed the installation and debugging of its transformer production line, which is now in trial production [8] - North American market standards for transformers are stricter, requiring compliance with rigorous safety and delivery standards, which the company aims to meet through its digital production capabilities [9][10]