On February 14, Contemporary Amperex Technology Co.Limited(300750) finally rebounded after a week of falling by 15% and returned to above 500 yuan. As of the closing on February 14, the share price was 508.00 yuan / share, an increase of 3.68%, and the market value was 1.2 trillion yuan.
On the news side, on February 13, Contemporary Amperex Technology Co.Limited(300750) official wechat issued a statement to refute a series of news that Contemporary Amperex Technology Co.Limited(300750) has been sanctioned by the United States, eliminated from the gem weight index, collapsed with Tesla and so on.
In addition, a news in the morning of February 14 attracted attention. According to a news update by Contemporary Amperex Technology Co.Limited(300750) official wechat, recently, Contemporary Amperex Technology Co.Limited(300750) subsidiary Sichuan times new energy resources Co., Ltd. (hereinafter referred to as “Sichuan times”) signed a joint venture agreement with Ganzi investment group, Yibin Sanjiang Huida company and Sichuan Tianfu Mining Company in Chengdu, This will accelerate the exploration and development of lithium resources in Sichuan Province, increase the supply of lithium resources and promote the coordinated development of the whole industrial chain of new energy.
Xu Qiyong, chief analyst of Huaan Securities Co.Ltd(600909) new metal materials, told the Securities Daily that since last year, the competition for lithium resources has continued to intensify due to factors such as strong downstream demand. Contemporary Amperex Technology Co.Limited(300750) this time, lithium resources are deployed again in the hope of gaining a leading position in the upstream supply chain.
“ningwang” officially established a mining subsidiary
Since the Spring Festival, with the outbreak of the new energy vehicle industry, the demand has been continuously driven, the lithium price has reached a new high, and the relationship between supply and demand of global lithium resources has become increasingly tense. The upstream minerals have become the hot investment focus at present.
According to the joint venture agreement signed between Sichuan Yibin mining group and Sichuan Yibin times Contemporary Amperex Technology Co.Limited(300750) subsidiary. According to the agreement, on the premise of meeting the national strategic mineral security, all parties will carry out all-round cooperation, accelerate the exploration and development of lithium resources in the province, increase the supply of lithium resources, promote comprehensive utilization in a scientific and orderly manner, promote the coordinated development of the whole industrial chain of new energy, and provide important support for the development of trillion power battery industry in Sichuan Province.
In fact, Contemporary Amperex Technology Co.Limited(300750) has long taken action in the layout of lithium mines. Since 2018, Contemporary Amperex Technology Co.Limited(300750) has continuously invested heavily in holding shares of upstream enterprises such as North American lithium industry, North American nickel industry and Australian lithium mining enterprise pilbaraminerals, aiming to improve the layout of the industrial chain. In 2021, Contemporary Amperex Technology Co.Limited(300750) and Ganfeng Lithium Co.Ltd(002460) staged a “cut-off battle” around the acquisition of Millennium lithium, headquartered in Vancouver, which has attracted widespread attention in the industry.
In addition to competing for overseas minerals, Contemporary Amperex Technology Co.Limited(300750) also moves frequently in China. Tianyancha information reality. On January 13, Sichuan times, which is 100% controlled by Contemporary Amperex Technology Co.Limited(300750) , was registered and established. Its business scope includes beneficiation, mineral washing and processing, metal ore sales, new material technology research and development, etc; Last September, Contemporary Amperex Technology Co.Limited(300750) announced that it planned to invest in the construction of a new lithium battery production and manufacturing base (Yichun) project in Yichun, Jiangxi, and signed a cooperation framework agreement with Jiangxi local government in July 2021.
The reporter noted that not only Contemporary Amperex Technology Co.Limited(300750) , but also Zangger mining, Sinomine Resource Group Co.Ltd(002738) , Eve Energy Co.Ltd(300014) and other enterprises have been actively distributing lithium resources recently. On February 9, the disclosure announcement of Zangger mining showed that it signed an exclusive strategic cooperation agreement with super resources Co., Ltd. to carry out investment cooperation on the lagunaverde Salt Lake Lithium project in Argentina, in which super resources holds 100% equity. On February 8, Sinomine Resource Group Co.Ltd(002738) also announced that it plans to acquire 74% equity of bikita lithium project in Zimbabwe held by AMMS and Samm for us $180 million (about RMB 1.144 billion).
In addition, recently, Eve Energy Co.Ltd(300014) announced that the company and Sunresin New Materials Co.Ltd Xi’An(300487) signed a strategic cooperation agreement. The two sides will conduct in-depth cooperation in the lithium resource industry chain and actively participate in the development and utilization of lithium resources in Chaka Salt Lake, Jieze, Tibet. In addition, Eve Energy Co.Ltd(300014) also announced that it had obtained 35.2857% equity of Xinghua lithium salt through bidding and directly held 49% equity of Xinghua lithium salt in total; And Zhejiang Huayou Cobalt Co.Ltd(603799) announced that it plans to acquire 100% equity of Zimbabwe prospect lithium mining company for us $422 million.
At the policy level, Guo Shougang, deputy director of the first Department of equipment industry of the Ministry of industry and information technology, said recently that in the next step, the Ministry of industry and information technology will comprehensively improve the guarantee ability of key resources, strengthen communication and coordination with provinces and cities such as Qinghai, Sichuan and Jiangxi, and promote the acceleration of the development of lithium resources in China.
Some insiders told the reporter of Securities Daily that although Contemporary Amperex Technology Co.Limited(300750) has been re distributed upstream and downstream of the industrial chain, it was mainly in the form of equity investment before. The company officially established a beneficiation subsidiary this time, which means that the company’s entity operation will enter the upstream minerals, but the actual production process may be longer.
In this regard, the relevant person in charge of Contemporary Amperex Technology Co.Limited(300750) told the reporter of Securities Daily that all information shall be subject to the public information of the company. If there is further information, the company will continue to release it.
lithium ore = intensified competition for new energy “oil” resources
At present, the global sales of new energy vehicles are maintaining rapid growth. According to the data, the sales volume of Shanxi Guoxin Energy Corporation Limited(600617) vehicles in 2021 was about 3.521 million, a year-on-year increase of 1.6 times. In 2021, the sales volume of Shanxi Guoxin Energy Corporation Limited(600617) cars in the United States will reach 620000, with a year-on-year increase of 86.7%.
With the large increase in sales of new energy vehicles, the demand for automotive power batteries and energy storage batteries has also increased significantly. The short-term supply is short of demand, the long-term demand is clear, and the price of lithium has also risen with the tide.
The reporter learned that since last year, the price of lithium salt led by battery grade lithium carbonate has risen rapidly. According to the data of business agency, the price of lithium carbonate increased by 432% in 2021, ranking first in all bulk commodities. This situation has intensified since this year. Yesterday, the data released by Shanghai Ganglian E-Commerce Holdings Co.Ltd(300226) showed that the price of raw materials in the lithium battery industry chain rose again on that day, with metal lithium rising by 60000 yuan / ton, up to 2.16 million yuan / ton; Battery grade lithium carbonate increased by 9000 yuan / ton, and the average price was 414000 yuan / ton; Lithium hydroxide increased by 8500-10000 yuan / ton. In addition, electrolytic cobalt, cobalt sulfate and lithium iron phosphate increased to varying degrees.
Xu Qiyong told the Securities Daily that the new energy industry is undergoing changes, especially in the power battery industry. The upstream resource guarantee has become the key to the battery factory. The market has recognized the scarcity of new energy mineral raw materials, and the lithium mineral resources continue to be in a tight supply, Mastering the core resources such as upstream lithium mines is very important for the sustainable operation and profit space of battery plants. At present, due to the impact of epidemic factors, there is still room for improvement in lithium mines and other new energy minerals.
Industry insiders believe that the reasons for the sharp rise in the price of some raw materials for power batteries are: first, the imbalance between supply and demand, and the increase in the output of raw materials can not keep up with the growth of new energy vehicles; Second, some raw materials are mainly imported, and China’s material industry lacks international pricing power; Third, the production of some raw materials involves chemical management or high energy consumption, and the government approval management needs to be further improved.
Northeast Securities Co.Ltd(000686) said that the supply increment of overseas mainstream lithium resources such as lithium mines in Western Australia and salt lakes in South America will be relatively limited in the next three years. It is estimated that in 2022 and 2023, the lithium industry is expected to be short of 6000 tons and 2000 tons of lithium carbonate equivalent respectively. The contradiction between supply and demand is prominent, which is expected to support the rise of lithium price.
Citic Securities Company Limited(600030) the research report pointed out that the disturbance of lithium mine production in Australia continued, and Q4 production fell month on month. Lithium ore price is expected to exceed US $3000 / ton in the first half of 2022.
Lithium prices are expected to rise strongly. In addition, countries are accelerating the “double carbon” process. Green energy resources, including lithium, have become a hot “pastry” in the market. Insiders told the reporter of Securities Daily that the tendency of countries to set a threshold for lithium mining is becoming clearer and clearer. In the long run, there may be uncertainty about the release of global lithium resources. In this context, more and more enterprises, including Contemporary Amperex Technology Co.Limited(300750) , have begun to strengthen the layout of lithium mines in China, which may also become a trend.
