Guangzhou Tinci Materials Technology Co Ltd

As of 11:30 on October 9, 2026, the CSI A500 Index, tracked by the Taikang CSI A500 ETF with fund code 560510 and index code 000510, fell 1.59 percent. Constituent stocks were mixed, with Tinci Materials leading gains at 10.00 percent and Allist leading losses at 10.03 percent. On the capital side, as of October 8, the Taikang CSI A500 ETF recorded a net inflow of 3.3354 million yuan, bringing total inflows over the past four trading days to 23.5857 million yuan. In terms of valuation, the CSI A500 Index's latest price-to-earnings ratio is only 15.45 times, at the 0.35 percentile over the past year, meaning its valuation is lower than more than 99.65 percent of the time over the past year and is at a historical low. Institutions noted that after the long holiday, October officially enters a macro super month. Domestic third-quarter economic data will soon be released, and important meetings will be held successively. Overseas, attention should focus on the results of China-Europe trade and investment consultations and bilateral economic, trade, and technology interactions between China and the United States following the leaders' summit. CSC Financial analysts said that looking ahead to October, overseas liquidity pressure has eased somewhat, and the market is entering a period of intensive third-quarter earnings disclosures. The technology sector is expected to maintain relatively high profit growth, while earnings expectations for resources, pharmaceuticals, and non-bank financials are also improving.

The Hong Kong Stock Exchange disclosed on October 7 that Jiangsu Slender West Lake Cultural Tourism Company Limited has passed the Main Board listing hearing, with Everbright Securities International as its sole sponsor. The company is a state-owned water tourism service provider headquartered in Yangzhou, Jiangsu Province, with main businesses including water cruise sightseeing services, sightseeing vehicle services, and management services. The Hong Kong Stock Exchange disclosed on October 5 that Guangzhou Tinci Materials Technology Company Limited has passed the Main Board listing hearing, with J.P. Morgan, CITIC Securities, and GF Securities as joint sponsors. The company mainly provides integrated solutions for lithium-ion battery materials, daily chemical materials, and specialty chemicals to corporate customers worldwide. According to the latest market data published by the Hong Kong Stock Exchange on October 7, there were 118 newly listed companies in the first nine months of 2026, up 71 percent year on year. Total IPO funds raised during the same period were 388 billion Hong Kong dollars, up 106 percent year on year. Average daily turnover in the first nine months of 2026 was 272.9 billion Hong Kong dollars, up 6 percent year on year. On October 7, Transsion Holdings officially launched its Hong Kong share offering, planning to sell 86.6483 million H shares globally, with an offer price range of 35.30 to 38.80 Hong Kong dollars per share. The entry fee is about 3,919 Hong Kong dollars. The subscription period runs until October 12, the expected pricing date is October 13, and listing on the Main Board of the Hong Kong Stock Exchange is expected on October 15.

Guangzhou Tinci Materials Technology, the global leader in electrolytes, has officially entered the countdown to its H-share issuance. On October 5, the Hong Kong Stock Exchange disclosed that it had passed the main board listing hearing, with J.P. Morgan, CITIC Securities, and GF Securities serving as joint sponsors. Founded in 2000 and headquartered in Guangzhou, Tinci Materials listed on the Shenzhen Stock Exchange in 2014. As of the close on September 30, its A-share price stood at 31.20 yuan, with a total market capitalization of approximately 63.6 billion yuan. The company first filed on September 22, 2025, but that filing lapsed. It filed again on March 27, 2026, and received the China Securities Regulatory Commission's approval for overseas issuance and listing on August 19, planning to issue no more than 413 million ordinary shares overseas. Since 2016, the company has ranked first globally in electrolyte shipments for ten consecutive years, with a global market share of about 36% in 2025. It is also the world's largest supplier of lithium hexafluorophosphate and lithium bis(fluorosulfonyl)imide, with lithium hexafluorophosphate shipments accounting for 38.2% of the global market in 2025 and LiFSI shipments accounting for 47.2% of the global share. The prospectus shows that from 2023 to 2025, the company's operating revenue was 15.405 billion yuan, 12.518 billion yuan, and 16.65 billion yuan respectively, with net profit of 1.842 billion yuan, 478 million yuan, and 1.344 billion yuan respectively. In the first half of 2026, operating revenue reached 14.71 billion yuan, up 109.28% year on year, with net profit attributable to the parent company of 2.861 billion yuan, a surge of 967.91% year on year, and non-GAAP net profit of 2.807 billion yuan, a surge of 1096.69% year on year. The comprehensive gross margin rose to 33.55%. About 80% of the net proceeds from this H-share listing will be used for global business development, of which about 60% will go directly to the Morocco project and other overseas expansion as well as global upstream resource investment, about 10% to research and development, and the remaining about 10% to supplement working capital.

Tinci Materials released its 2026 interim report on August 21, 2026. The company's total operating revenue was 14.71 billion yuan, and net profit attributable to the parent company was 2.861 billion yuan. Net cash inflow from operating activities was 397 million yuan, down 2.91 percent from the same period last year. The company's latest asset-liability ratio was 36.22 percent, up 0.66 percentage points from the previous quarter. Its latest gross margin was 33.55 percent, down 5.10 percentage points from the previous quarter. Its latest return on equity was 14.10 percent. Diluted earnings per share were 1.41 yuan. The latest total asset turnover ratio was 0.50 times, and the latest inventory turnover ratio was 4.66 times. The company had 392,600 shareholders, and the top ten shareholders held 883 million shares, accounting for 43.32 percent of total share capital.

Tinci Materials announced that its H-share issuance has obtained filing with the China Securities Regulatory Commission, and it plans to issue no more than 413 million ordinary shares for overseas listing and list them on the Hong Kong Stock Exchange. The company received the overseas issuance and listing filing notice issued by the China Securities Regulatory Commission on August 19, 2026. If the overseas issuance and listing is not completed within 12 months from the date of the notice and the company intends to continue advancing it, the filing materials should be updated. Within 15 working days after completing the overseas issuance and listing, the issuance and listing status should be reported through the China Securities Regulatory Commission's filing management information system. The company's issuance and listing still needs to obtain approval and authorization from relevant regulatory authorities such as the Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange, and uncertainties remain.

Tuojing Technology disclosed its 2026 semi-annual report on the evening of August 20. In the first half, it achieved operating revenue of 2.913 billion yuan, up about 49.06% year on year, and net profit attributable to shareholders of the listed company of 1.343 billion yuan, up 1,324.10% year on year. The company plans to distribute a cash dividend of 0.35 yuan per 10 shares, tax included, with no conversion of capital reserve into share capital and no bonus shares. Tuojing Technology said that as of the end of the reporting period, its order backlog was full, which can provide solid support for full-year delivery and performance growth. On the same evening, semi-annual reports disclosed by Jiangtian Chemical, Huachang Chemical, Tinci Materials, and Three Gorges Water Conservancy also showed substantial net profit growth. Among them, Jiangtian Chemical's net profit rose 22,955.37% year on year, Huachang Chemical's net profit attributable to the parent rose 1,026.9%, Tinci Materials' net profit attributable to the parent rose 967.91%, and Three Gorges Water Conservancy's net profit attributable to the parent rose 688.61%.

Domestic lithium battery material prices continue to climb. The average price of the electrolyte additive vinylene carbonate has reached 200,000 yuan per ton, with highs of 230,000 yuan, nearly 4.9 times higher than a year ago. Lithium carbonate prices have also doubled to 145,400 yuan per ton, while anode materials and lithium iron phosphate have seen successive price hikes. Facing supply shortages, companies such as Ronbay Technology, Tinci Materials, and Capchem have rolled out expansion plans this year, with total investment in all new and expansion projects amounting to approximately 30 billion yuan. The industry worries that collective capacity expansion may sow risks of overcapacity and a shakeout in the medium to long term, while the sector's overall gross profit margin has already fallen from 27.34 percent in 2021 to 12.56 percent in 2025.

The Penghua Chemical ETF rose 1.31%, last trading at 0.78 yuan. In news, driven by rising prices of petroleum-related products, chemical industry profits grew 67.8% in the first half. As of 10:50 on July 27, 2026, the CSI Subdivision Chemical Industry Theme Index was up strongly by 1.17%, with constituent Do-Fluoride Chemicals gaining 4.46%, Xinfengming Group up 4.41%, and Tinci Materials advancing 3.77%. Caitong Securities believes the chemical sector offers compelling value, with traditional cyclical leaders now at attractive valuations.

A total of 167 listed companies in Guangdong have disclosed their earnings forecasts for the first half of 2026, accounting for 36% of all listed companies in the region. Nearly half of these companies are projecting rapid growth, over 30% are maintaining profitability with year-on-year net profit growth exceeding 50%, and 20 companies are turning losses into profits. Based on the average of the upper and lower limits of the pre-disclosed net profits, the combined net profit of the 167 companies is approximately 42.87 billion yuan. The total net profit of companies forecasting a profit amounts to 58.09 billion yuan. Fifteen companies expect to earn over 1 billion yuan, with GF Securities anticipating a profit of 11 billion to 12 billion yuan. The electronics sector has become the engine of earnings growth for manufacturing companies. The 25 pre-disclosed electronics companies report a combined net profit of about 12.49 billion yuan. TCL Technology forecasts a profit of 3.7 billion to 3.92 billion yuan, and Shengyi Technology expects a profit of approximately 3.1 billion to 3.3 billion yuan. The lithium battery industry has seen a significant recovery. EVE Energy is forecasting a profit of 3.13 billion to 3.37 billion yuan, a year-on-year increase of about 95% to 110%. Tinci Materials expects a profit of 2.7 billion to 3 billion yuan, with year-on-year growth exceeding nine times.

On the evening of July 21, several A-share companies disclosed interim dividend plans proposed by their chairmen or controlling shareholders. G-bits Chairman Lu Hongyan proposed a cash dividend of 100 yuan per 10 shares for the first half of 2026, with a total payout of approximately 720 million yuan, and no conversion of capital reserve into share capital or other forms of profit distribution. Deye's controlling shareholder Aisirui Investment proposed an interim cash dividend of 16 yuan per 10 shares; the company expects a net profit attributable to the parent of 2.668 billion to 2.728 billion yuan for the first half, a year-on-year increase of 75.28% to 79.22%. Quectel Chairman Qian Penghao proposed an interim dividend of no less than 30% of the first-half net profit attributable to the parent; its first-quarter net profit attributable to the parent was 141 million yuan. Tinci Materials' controlling shareholder Xu Jinfu proposed an interim cash dividend of 1 yuan per 10 shares; the company expects a first-half net profit of 2.7 billion to 3 billion yuan, a sharp year-on-year increase of 907.84% to 1019.82%.

A total of 12 stocks received buy ratings from institutions today, with BOE Technology and China Satellite gaining first-time coverage. According to statistics from Securities Times Data Treasure, institutions published 12 buy rating records covering 12 stocks, with BOE Technology and Han's Laser drawing the most attention. Among the 9 rating records that included target prices, 8 stocks have upside potential exceeding 20 percent. Azure Lithium Core leads with 93.31 percent upside, as Soochow Securities set a target price of 37 yuan. Capchem and Tinci Materials have upside potential of 69.88 percent and 65.75 percent respectively. In terms of performance, among the 8 stocks that disclosed first-half earnings forecasts, Tinci Materials is expected to post the highest net profit growth, surging 963.83 percent year-on-year, followed by Han's Laser and Capchem. By sector, the electrical equipment industry was the most favored, with three stocks including Capchem and Tinci Materials receiving ratings, while the electronics and machinery equipment sectors each had two stocks rated.

Tinci Materials has released its 2026 half-year performance forecast, projecting first-half net profit attributable to the parent company of 2.7 billion to 3 billion yuan, a year-on-year increase of 907.84 percent to 1,019.82 percent. The company said the sharp rise in performance was mainly due to strong market demand for lithium-ion battery materials, including electrolytes and lithium hexafluorophosphate, with sales volumes growing significantly and capacity utilization steadily improving. At the same time, an optimized industry supply-demand landscape drove product prices higher, jointly lifting overall gross margins. In the first half, electrolyte shipments rose more than 40 percent year-on-year, and as of June, capacity utilization for electrolytes and lithium hexafluorophosphate was near full capacity. The company expects electrolyte production schedules to increase further quarter-on-quarter in the third quarter, and will advance expansion and renovation projects at production bases in Jiujiang and Fuding to bolster capacity reserves.

GigaDevice has released its half-year performance forecast, estimating net profit attributable to shareholders of the listed company for the first half of 2026 at approximately 6.9 billion yuan, a year-on-year increase of about 1,099 percent, mainly driven by tight supply in the memory chip industry, with both volume and price of the company's memory chip products rising, and microcontroller product shipments also achieving good growth. Foxconn Industrial Internet expects first-half net profit of 23.4 billion to 24.4 billion yuan, up 93 to 101 percent year-on-year, with shipments of data center switches of 800G and above growing 1.4 times year-on-year. Western Mining expects first-half net profit of 4 billion to 4.3 billion yuan, up 114 to 130 percent year-on-year, as prices of copper, gold, and silver products rose compared with the same period last year. Sunwave Communications expects first-half net profit of 40 million to 55 million yuan, up 1,428.58 to 2,001.80 percent year-on-year, with internet business revenue achieving growth. Han's Laser expects first-half net profit of 1.25 billion to 1.35 billion yuan, up 156.07 to 176.55 percent year-on-year, with the revenue share of AI PCB solutions increasing. Tinci Materials expects first-half net profit of 2.7 billion to 3 billion yuan, up 907.84 to 1,019.82 percent year-on-year, with strong market demand for lithium-ion battery materials such as electrolyte and lithium hexafluorophosphate. Capchem expects first-half net profit of 970 million to 1.03 billion yuan, up 100.48 to 112.88 percent year-on-year, with the market share of core products in the electronic information chemicals business steadily increasing. Meichang New Materials expects first-half net profit of 295 million to 315 million yuan, up 248.45 to 272.08 percent year-on-year, with the shipment share of tungsten wire diamond wire increasing. Tianhua New Energy expects first-half net profit of 2.2 billion to 2.4 billion yuan, turning from a loss to a profit year-on-year, with both volume and price of lithium battery materials rising. Shenhuo Coal & Power expects first-half net profit of 4.8 billion yuan, up 152.04 percent year-on-year, with selling prices of electrolytic aluminum and coal products rising year-on-year. Feilong Auto Components expects first-half net profit of 68 million to 80 million yuan, down 61.98 to 67.69 percent year-on-year, affected by exchange rate fluctuations, intensified industry competition, and rising raw material prices. Dalian Insulator expects first-half net profit of 140 million to 180 million yuan, up 200.55 to 286.43 percent year-on-year, having completed product supply for key ultra-high voltage projects. Baotou Steel and Northern Rare Earth both adjusted the rare earth concentrate transaction price for the third quarter to 38,565 yuan per ton excluding tax, down 0.62 percent quarter-on-quarter. Caitong Securities expects first-half net profit of 1.84 billion to 1.95 billion yuan, up 70 to 80 percent year-on-year, with significant year-on-year growth in proprietary investment, wealth management, private equity investment, and investment banking businesses. Dinglong shares expects first-half net profit of 510 million to 540 million yuan, up 63.96 to 73.61 percent year-on-year, with major breakthroughs in the CMP polishing fluid and cleaning fluid business. Han's CNC expects first-half net profit of 900 million to 1 billion yuan, up 241.85 to 279.84 percent year-on-year, with the revenue share of AI PCB-related solutions significantly increasing. Zijin Mining expects first-half net profit of approximately 39.1 billion yuan, up about 68 percent year-on-year, with profits from rare and precious metals and other products increasing substantially year-on-year. Allwinner Technology expects first-half net profit of 475 million to 515 million yuan, up 194.73 to 219.55 percent year-on-year, with operating revenue increasing about 40 percent year-on-year. Enjie shares expects first-half net profit of 736 million to 900 million yuan, turning from a loss to a profit year-on-year, with production and sales of main products continuing to grow. Hongfuhan expects first-half net profit of 73 million to 83 million yuan, up 221.13 to 265.13 percent year-on-year, with the scale of heat dissipation and automation equipment business growing. Qianyuan Power expects first-half net profit of 220 million to 255 million yuan, up 73.01 to 100.54 percent year-on-year, with power generation increasing 26.10 percent year-on-year. Zhengbang Technology expects a first-half net loss of 700 million to 800 million yuan, turning from a profit to a loss year-on-year, with the average selling price of commercial pigs declining year-on-year. COSCO Shipping Specialized Carriers expects first-half net profit of 1.279 billion to 1.402 billion yuan, up 55 to 70 percent year-on-year, with demand for specialized vessels surging. Wynca expects first-half net profit of 240 million to 260 million yuan, up 247 to 276 percent year-on-year, with market selling prices of leading products rising. In addition, Azure intends to invest 290 million US dollars in Indonesia to build a 5 gigawatt-hour cylindrical lithium battery project, Tiansheng shares plans to establish a joint venture with Beijing Kangte Electronics to invest in a quartz crystal resonator project, Xinrui shares plans to acquire 80 percent equity of Huilian Electronics for 800 million yuan, Neusoft Corporation plans to repurchase shares for cancellation with 100 million to 200 million yuan, Datang Power plans to raise no more than 8 billion yuan for multiple power plant expansion projects, and Hangyu Technology has signed a long-term supply agreement for aero-engine rotating parts with an estimated total value of about 240 million yuan.

Electrolyte leader Tianqi Materials has released its 2026 half-year performance forecast, projecting first-half net profit attributable to the parent company of 2.7 billion to 3 billion yuan, a year-on-year increase of 907.84% to 1019.82%. The company stated that strong market demand for lithium-ion battery materials, electrolyte, and lithium hexafluorophosphate products has driven significant sales volume growth, with capacity utilization near full production. Meanwhile, an improved industry supply-demand landscape has pushed product prices higher, jointly boosting gross margins. First-half electrolyte shipments rose over 40% year-on-year, and third-quarter production schedules are expected to increase further quarter-on-quarter. The company will advance expansion and renovation projects at its Jiujiang and Fuding bases to strengthen capacity reserves. Addressing rumors that solid-state battery technology could replace electrolyte, Tianqi Materials' board secretary explicitly denied this, stating that solid-state batteries will not account for a large share within five years, a view consistent with CATL. Affected by the rumors, Tianqi Materials hit its daily limit down on July 8 and continued to slide on July 9, closing down 7.02% with a total market value of 84.5 billion yuan, evaporating over 16 billion yuan in two days.