Tinci Materials

Business

Tinci (广州天赐高新材料股份有限公司, Guangzhou Tinci Materials) makes lithium battery electrolyte and the lithium salts in it, cathode materials, and daily chemicals and speciality chemicals. It says its liquid-process lithium hexafluorophosphate (LiPF6) has a unit investment and production cost well below the industry average (2026 interim report, pp. 11, 12).

Results

In the first half of 2026 revenue rose 109.3% to ¥14.71bn and net profit attributable to shareholders rose 967.9% to ¥2.86bn, which the company attributes to higher volumes and higher unit prices (pp. 8, 13). Its lithium battery materials business earned ¥13.69bn at a 33.72% gross margin, up 16.67 points, and the daily chemicals and speciality chemicals business ¥686m at 27.50% (p. 14).

Volumes and customers

It sold over 440,000 tonnes of electrolyte, up about 41%, with storage electrolyte up more than 100%. It tied several domestic storage customers in with long-term contracts, its European contract plant finished upgrades and onboarded a major customer, and it says its phosphate cathode business reached monthly breakeven as low-end capacity left the market (p. 12).

Integration

It is expanding battery recycling and lithium processing to supply its own lithium salts, including LiPF6 and LiFSI, and says its self-supply share is rising. It is also exploring lithium mines in Nigeria and Zimbabwe (p. 12).

Where it stands

Tinci's margin is more than double Capchem's, but the segments differ: Tinci's lithium battery materials line includes the lithium salts and cathode materials as well as electrolyte.