Core Viewpoint - The strong market demand for electrolyte products has led to Tianqi Materials securing long-term supply agreements with major battery manufacturers, indicating a positive outlook for the company's future performance [1][2]. Group 1: Supply Agreements - Tianqi Materials and its subsidiary, Jiujiang Tianqi, have signed long-term supply agreements with Zhongxin Innovation and Guoxuan High-Tech, with a total supply volume expected to reach 1.595 million tons from 2026 to 2028 [1]. - The agreements specify that Tianqi Materials will supply 725,000 tons of electrolyte products to Zhongxin Innovation, while Jiujiang Tianqi will supply 870,000 tons to Guoxuan High-Tech [1]. - The company emphasizes that these agreements will foster a close supply-demand relationship within the industry, benefiting long-term development [1]. Group 2: Market Position and Production Capacity - Tianqi Materials has maintained its leading position in the electrolyte market, holding approximately 35.7% of the global market share as of 2024, and has been the top global supplier for nine consecutive years since 2016 [2]. - The company is projected to have an electrolyte production capacity of about 860,000 tons by May 2025, with a sales target of 500,000 tons for 2024 [2]. Group 3: Raw Material Pricing and Production Strategy - The price of lithium hexafluorophosphate, a key raw material for electrolytes, has surged to over 110,000 yuan per ton, reflecting a nearly 90% increase since the end of September [4]. - Tianqi Materials has achieved self-sufficiency in lithium hexafluorophosphate production, with a capacity of approximately 110,000 tons and is exploring capacity enhancement through technical upgrades [4]. - The company has reported a revenue of 10.843 billion yuan for the first three quarters of the year, a year-on-year increase of 22.34%, and a net profit of 420 million yuan, up 24.33% [4].