Recently, beiteri New Materials Group Co., Ltd. (hereinafter referred to as “beiteri”, 835185) announced that beiteri will lift the total number of restricted shares of 332 million shares on February 9, and the lifted shares are the strategic allocation shares held by China Baoan Group Co.Ltd(000009) and China Baoan Group Co.Ltd(000009) Group Holding Co., Ltd.
It is reported that the number of shares lifted this time accounts for 68.36% of the total share capital of the company, and the total market value of shares lifted this time is 42.8 billion yuan. At present, the circulation market value of beiteri in the secondary market is 60.9 billion yuan. After the lifting of the ban, beiteri’s circulation will increase by 2.27 times.
In view of the impact of the lifting of the ban on restricted shares on the company’s shares and the company’s performance, the reporter of Huaxia times called beiteri’s Board Secretary Office for inquiry and sent an interview outline to its relevant mailbox. As of the press time, no reply was received.
the “first brother” of the Beijing stock exchange ushered in the lifting of the ban
On January 28, beiteri announced that the company would lift the total number of restricted shares of 332 million shares on February 9. Among the shares lifted, 119 million shares held by China Baoan Group Co.Ltd(000009) accounted for 24.44% of the total share capital of the company, and 213 million shares held by China Baoan Group Co.Ltd(000009) Group Holding Co., Ltd. accounted for 43.92% of the total share capital of the company. Beiteri said that after the lifting of the ban on restricted shares, if the shares held by the controlling shareholders and their persons acting in concert want to be reduced, they should disclose the reduction plan at least 15 trading days in advance.
On January 18, beiteri just released the “announcement on lifting the restrictions on the sale of the company’s shares”. On December, the board of directors Huang Xiaofang and Zhang Yingfeng announced that they would sell a total of 672100 shares of 67000 shares, and the executive directors Huang Xiaofeng and Zhang Yingfeng, the deputy managers of the company, announced that they would lift the restrictions on the sale of 672100 shares, respectively.
How will the lifting of the ban on restricted shares affect the company’s share price? “The lifting of the stock ban will increase the number of freely tradable shares of the company and put pressure on the company’s stock price to a certain extent, but the company’s stock price is more affected by the market and the company’s fundamentals, and the number of tradable shares is only one of the factors affecting the stock trend,” Bai Wenxi, chief economist of IPG China, said in an interview with the Huaxia times
It is reported that beiteri is subordinate to China Baoan Group Co.Ltd(000009) . Since its establishment in 2000, it has focused on the three sectors of lithium-ion battery cathode materials, cathode materials and graphene materials. It was listed on the new third board in December 2015 and promoted to the selected layer of the new third board in July 2020.
As a R & D and manufacturer of new energy materials, beiteri has been firmly on the throne of “the first brother in the market value of the Beijing stock exchange” since it settled in the Beijing stock exchange on November 15, 2021.
Beiteri’s share price rose by leaps and bounds in 2021, from 39 yuan / share at the beginning of 2021 to 198.08 yuan / share, the highest point on November 15, 2021, with an increase of 411%. Subsequently, beiteri’s share price began to fall. As of the closing on February 10, 2022, beiteri’s share price was 121 yuan / share, the market value was 58.7 billion yuan, and the price earnings ratio was 40.40 times.
After beiteri’s share price rose sharply, many executives threw out the reduction plan.
On January 7, beiteri released the company’s “announcement on the reduction results of directors and senior managers”. According to the announcement, eight directors, supervisors and senior managers, including he Xueqin, chairman of the company, Huang Youyuan, vice chairman and Ren Jianguo, general manager, plan to reduce their holdings of about 2.07 million shares of the company through bidding or block trading from February 2022 to July 2022. According to the current share price estimation of beiteri, the eight directors, supervisors and senior managers may reduce their shares and cash out 280 million yuan.
In fact, four of the eight directors and supervisors who plan to reduce their holdings in the announcement have just completed the last round of reduction at the end of 2021. According to the announcement on the reduction results of directors, supervisors and senior executives issued by beiteri on December 31, 2021, Huang Youyuan, vice chairman of the company, reduced 172900 shares of the company’s shares from July to December 2021; Ren Jianguo, general manager, reduced 22300 shares; Director Huang Yingfang reduced 90000 shares; The total number of shares held by Dong Xiaofeng was reduced by about 3399000 yuan.
Independent economists Financial commentator Wang Chikun told Huaxia times: “On the whole, the reduction of major shareholders will be bad for the company’s stock price, but in the actual operation process, the stock price will rise instead of falling within a certain period of time after the announcement of the reduction of major shareholders. In order to maintain the success of the reduction, major shareholders will take measures to increase the stock price, attract retail investors and take the opportunity to reduce their holdings. The deep-seated reason for the frequent reduction of major shareholders is that they are not optimistic about the development of the company, although However, major shareholders have capital needs, but major shareholders have many means to raise funds. “
great increase in performance stimulates the ambition of expanding production
On January 10, beiteri announced that the company expects to realize a net profit attributable to the parent company of about 1.35-1.55 billion yuan in 2021, with a year-on-year increase of 173% – 213.44%.
For the reasons for the large increase in performance, beiteri said: “during the reporting period, the downstream lithium battery market continued to boom, the market demand for battery materials further increased, the sales volume of the company’s positive and negative materials increased rapidly, and the booming production and sales made the company’s current performance increase significantly year-on-year.”
The great increase in performance has also injected a booster into beiteri’s expansion of production.
Beiteri announced on January 24 that the company plans to sign the cooperation agreement on the project of integrated base for lithium battery cathode materials with an annual output of 200000 tons with the people’s Government of Dali Bai Autonomous Prefecture and Xiangyun County. According to the agreement, beiteri plans to build an “integrated base project with an annual output of 200000 tons of lithium battery cathode materials” in the economic and Technological Development Zone of Xiangyun County, Dali Prefecture.
According to reports, the project is divided into three phases. Among them, the construction of phase I project includes the construction of plant, production equipment, testing equipment, utilities and other infrastructure. The construction period is 12 months, and the total investment is expected to be 2.392 billion yuan.
“The construction period of phase I project is planned to be 12 months, including 1.634 billion yuan of fixed asset investment and 758 million yuan of working capital demand. The specific progress of phase II and phase III projects depends on the market situation after phase I project is put into operation. This investment will further enhance the company’s competitive advantage in the field of negative electrode materials,” batery said
Since 2021, beiteri has been accelerating its production expansion in the field of new energy lithium batteries.
On October 25, 2021, beiteri announced that the company plans to sign the project cooperation agreement on the integrated base of artificial graphite cathode materials with Shanxi Jundong New Energy Technology Co., Ltd. and Shanxi aochen Material Technology Co., Ltd. The parties intend to establish a joint venture to build an “integrated production line project with an annual output of 70000 tons of artificial graphite cathode materials”. The total registered capital of the joint venture is RMB 300 million, of which beiteri subscribed RMB 153 million.
On August 31, 2021, beiteri announced that the company plans to sign the cooperation agreement on the production line of cathode material precursors and finished products of 100000 tons of lithium batteries with Fuan Holding Co., Ltd. The two sides intend to establish a joint venture company Sichuan Ruifu New Material Technology Co., Ltd. to build the “production line project of cathode material precursors and finished products for lithium batteries with an annual output of 100000 tons”. The registered capital of the joint venture is 300 million yuan, and beiteri has subscribed 153 million yuan.
According to incomplete statistics, since 2021, beiteri plans to expand its output of 7.5 billion yuan in the field of lithium battery cathode materials through foreign investment or equity acquisition.
Behind beiteri’s external expansion is the continuous rise of industry prosperity. According to the statistics of lithium battery research institute of high industry and research, China’s lithium battery shipment is expected to reach 229gwh in 2021, with a year-on-year growth rate of more than 60%. It is expected that China’s lithium battery market shipment will reach 611gwh in 2025, and the compound growth rate from 2021 to 2025 will exceed 25%.
Qi Haizhen, President of Beijing Teyi sunshine new energy, said in an interview with Huaxia times: “In the next year or two, the key core materials of lithium batteries may still be in a tight balance between supply and demand. The trend of leading battery manufacturers to extend the industrial chain, lock in interest partners and report to the group is taking shape. With the lack of production capacity caused by the strong downstream demand of lithium batteries and the needs of technical route optimization and process technology upgrading, the development of lithium battery related industries in the next few years Production expansion will be the new normal, especially for large factories with strong capital strength, which has the need and motivation to increase capital and expand advanced production capacity. “
