天赐材料，股票代码002709 公司于2014年1月23日在深圳证券交易所中小板上市，2021年合并主板上市。经过二十余年发展，天赐材料已从最初的精细化工企业成长为全球领先的新能 源材料供应商，形成了"新能源材料为主导、日化材料为支撑"的双主业格局。 发行价:13.66元(2014年1月23日） 最新股价：42.39元 (2026年2月26日) 市值：826.17亿元 2025年以来涨跌幅：116.61% ============================= 技术面研究 一、公司基本情况 广州天赐高新材料股份有限公司成立于2000年6月6日，是中国领先的新能源材料供应商。公司由华南理工大学教授徐金富创立，最初以日化材料为主营业 务，2008年开始涉足锂电池电解液领域，2010年成为宁德时代的供应商。 截至2026年2月，公司主营业务包括锂离子电池材料和日化材料及特种化学品两大板块。其中，锂离子电池材料是核心业务，2025年上半年收入63.02亿元， 占总营收的89.66%。公司电解液产品连续九年（2016-2024年）位居全球出货量第一，2024年全球市场份额达到35.7%。 二、 上市历程和发行背景 ...

Core Insights - The article highlights a significant shift in the lithium battery materials market, where prices of various materials such as lithium hexafluorophosphate and electrolytes are rising, driven not by lithium prices but by a robust chemical supply chain [2][3][4][6]. Price Dynamics - Since November, prices of lithium battery materials have been on the rise, including lithium hexafluorophosphate, electrolytes, and iron phosphate [2]. - Unlike previous trends where lithium prices dictated the market, this price increase is attributed to the strong performance of the chemical sector, indicating a shift from a "resource dividend" to a "process dividend" [3][4]. - The price of lithium carbonate has fluctuated around 80,000 yuan/ton, showing a slight downward trend, contrasting with the rising costs in the chemical raw material chain [7][21]. Chemical Sector Influence - Key chemical components such as yellow phosphorus and anhydrous hydrofluoric acid have seen price increases, which subsequently raise the costs of iron phosphate and lithium hexafluorophosphate [8][10]. - The price of yellow phosphorus has increased approximately 2% to around 22,000 yuan/ton since November, impacting the cost structure of lithium battery materials [8]. Demand and Supply Factors - The demand for VC (vinylene carbonate) has surged due to changes in battery demand structures, with total demand expected to exceed 70,000 tons this year against an effective production capacity of only 80,000 tons [15][17]. - The increase in demand for energy storage and LFP (lithium iron phosphate) vehicles has contributed to the recovery of iron phosphate prices [9]. Industry Trends - The article notes a structural shift in the lithium battery industry, where the focus is moving from lithium mining to chemical processing capabilities, indicating a new competitive landscape [55][59]. - Companies like Tianqi Materials and Duofluor have established integrated chemical systems, enhancing their competitive edge in the market [31][36]. Future Outlook - The upcoming 2025 High-Performance Lithium Battery Conference will address critical topics such as battery material innovation and the new supply chain ecosystem, reflecting the industry's evolving dynamics [60][61]. - The article suggests that the next decade will see a focus on chemical and process capabilities rather than just resource ownership, reshaping the industry's growth narrative [55][58].