Tengyuan cobalt industry: Dongxing Securities Corporation Limited(601198) letter of recommendation for the company's initial public offering and listing on the gem

Dongxing Securities Corporation Limited(601198)

About Ganzhou Tengyuan cobalt New Material Co., Ltd

Initial public offering and listing on GEM

of

Listing recommendation

Sponsor (lead underwriter)

(12th and 15th floors, building B, Xinsheng building, No. 5, Financial Street, Xicheng District, Beijing)

statement

As the sponsor of Ganzhou Tengyuan cobalt industry new material Co., Ltd. (hereinafter referred to as "Tengyuan cobalt industry", "issuer" or "company") for initial public offering and listing on the gem, Dongxing Securities Corporation Limited(601198) (hereinafter referred to as "sponsor") and its sponsor representative have been in accordance with the company law of the people's Republic of China (hereinafter referred to as "company law") The securities law of the people's Republic of China (hereinafter referred to as the "Securities Law"), the measures for the administration of the registration of initial public offerings on the gem (for Trial Implementation) (hereinafter referred to as the "administrative measures"), the Listing Rules of Shenzhen Stock Exchange on the gem (hereinafter referred to as the "Listing Rules") and other laws and regulations, as well as the relevant provisions of the CSRC and Shenzhen Stock Exchange, Be honest and trustworthy, be diligent and responsible, issue the listing recommendation letter in strict accordance with the business rules and industry self-discipline norms formulated according to law, and ensure that the documents issued are true, accurate and complete.

Unless otherwise specified in this listing recommendation, the relevant terms or abbreviations have the same meaning as that in the prospectus of Ganzhou Tengyuan cobalt new materials Co., Ltd. for initial public offering and listing on the gem. The relevant opinions are as of the issuance date of this listing recommendation.

Section 1 basic information of the issuer

1、 Basic information of the issuer

Company name: Ganzhou Tengyuan cobalt industry new material Co., Ltd

English Name: Ganzhou Teng yuan cobalt New Material Co., Ltd

Legal representative: Luo Jie

Date of establishment of the company: March 26, 2004

Date of establishment of the joint stock company: August 30, 2016

Registered capital: 940600 yuan

Registered at No. 9, Xijin Avenue, Ganzhou high tech Industrial Development Zone, Ganxian District, Ganzhou City, Jiangxi Province

Postal Code: 341100

Tel: 07977772088

Internet website: www.tycogz.com com.

E-mail [email protected].

Secretary of the board of directors Chen Wenwei

Production and sales of 6500t / a metal quantity of cobalt series products (cobalt sulfate and cobalt chloride) (limited to factory sales) (operated with safety production license, valid until May 12, 2024), processing and sales of nickel, copper, manganese, gypsum and ammonium chloride (the above does not contain dangerous chemicals), The business scope of new energy automobile includes recycling and echelon utilization of waste power batteries (excluding hazardous waste management), recycling of renewable resources (except productive waste metals), processing of renewable resources, research and development of resource recycling technology, import and export of goods and technology, Information consulting services (excluding licensed information consulting services) (for projects that need to be approved according to law, business activities can be carried out only with the approval of relevant departments)

2、 Main business of the issuer

The company is mainly engaged in the R & D, production and sales of cobalt and copper products. It is one of the leading cobalt salt manufacturers in China. The core products of the company are cobalt chloride, cobalt sulfate and other cobalt salts and electrodeposited copper. Cobalt products are mainly used in lithium battery cathode materials, alloys, magnetic materials and other fields, while copper is used in electronic and electrical, machinery manufacturing, national defense, building materials and other fields. It is one of the most widely used metals. With good reputation and excellent product quality, the company has established long-term and close cooperative relations with well-known enterprises in the industry represented by the world's top 500 enterprises, such as Cngr Advanced Material Co.Ltd(300919) , Beijing Hezong Science&Technology Co.Ltd(300477) (Hunan Yacheng), Xiamen Tungsten Co.Ltd(600549) , Jinchuan technology, Ningbo Shanshan Co.Ltd(600884) , Beijing Easpring Material Technology Co.Ltd(300073) .

In order to enhance the guarantee ability of raw material supply, reduce the risk of price fluctuation caused by the long raw material procurement cycle and improve the company's competitive advantage, the company set up Congo Tengyuan in DRC as the company's raw material procurement base, resource development base and product preliminary processing base in DRC. At present, Congo Tengyuan has become the main production base of the company's electrowinning copper. At the same time, it provides some cobalt intermediates for the parent company and further extends to the exploration and mining of upstream mines.

Since its establishment, the company's main business and main products have not changed significantly. 3、 Core technology and R & D of the issuer

(I) core technology

After more than ten years of R & D and technology accumulation, the company has mastered more than 20 core technologies of the whole production chain, including product manufacturing, quality improvement and cost reduction, production equipment preparation, three wastes treatment and resource utilization. The details are as follows:

Application of technical protection status number / technical name of main core product technology sources in main products

1 high purity cobalt sulfate preparation technology integration innovation cobalt sulfate proprietary technology confidentiality

2 high purity cobalt chloride preparation technology integration innovation cobalt chloride proprietary technology confidentiality

3 battery grade Co3O4 preparation integrated innovative proprietary technology and confidential technology of Co3O4

4 product production cobalt solution deep purification technology independent research and development, cobalt chloride, cobalt sulfate proprietary technology confidential core technology original innovation

5. Independent research and development of manganese sulfate production technology from manganese waste liquid and patent protection of manganese sulfate

Original innovation

6. Independent research and development of Co3O4 synthesis technology and patent protection of Co3O4

Original innovation

7. Independent research and development of low-temperature drying technology, confidentiality and original innovation of proprietary technology of cobalt chloride and cobalt sulfate

8. Original innovation of independent research and development of normal temperature leaching purification technology and confidentiality of proprietary technology of leaching process

9. The original technological innovation of the combination of two leaching and two extraction of copper cobalt ore, independent research and development of copper electricity and confidential accumulation of proprietary technology of electrodeposition of copper

10. Independent research and development of ball milling leaching technology, confidentiality and original innovation of proprietary technology of leaching process

11. Independent research and development of quality improvement and efficiency enhancement cobalt sulfide precipitation technology, proprietary technology of cobalt intermediate products, confidentiality and original innovation of core technology

12. Independent research and development of copper sulfide cobalt ore roasting technology and patent protection of cobalt ore processing

Original innovation

13. Independent research and development of complex cobalt precipitation technology, confidentiality and original innovation of proprietary technology of cobalt intermediate products

14. Independent research and development of recycling and utilization of diversified cobalt resources, proprietary technology of cobalt products and original innovation of confidentiality Technology

15 production equipment automation intelligent production line independent research and development, all kinds of products general proprietary technology confidential preparation core preparation technology original innovation

16. Independent research and development of cobalt ore sample preparation and recovery device and patent protection of leaching process

Original technological innovation

Application of technical protection status number / technical name of main core product technology sources in main products

17. Independent research and development of tailings sludge dewatering equipment and patent protection of cobalt ore leaching process

Original technological innovation

18. Independent research and development of extraction technology to remove Ca and Mg, confidentiality and original innovation of cobalt extraction proprietary technology

19. Independent research and development of ammonium sulfate waste extracted by three wastes treatment lime milk method and environmental protection treatment patent protection

And the original innovation of resource ammonia technology in water

20. Using the core cobalt smelting slag recycling technology, independent research and development, proprietary technology of environmental protection treatment and original innovation of confidentiality Technology

21. Independent research and development of gypsum slag recycling technology and patent protection of resource recycling

Original innovation

1. Preparation technology of high purity cobalt sulfate

High purity cobalt sulfate products refer to cobalt sulfate crystals with cobalt content ≥ 20.52%, which comply with the enterprise standard: Q / gzty0 Jiangsu Jiuding New Material Co.Ltd(002201) 8, which is higher than the national standard for refined cobalt sulfate GB / T 265232011.

To prepare high-purity cobalt sulfate, first prepare pure cobalt sulfate solution, then evaporate and crystallize through MVR and dry at low temperature to obtain high-purity cobalt sulfate product. The product is mainly used as cathode material of lithium ion battery; Used for electroplating, alkaline batteries, pigments, catalysts, analytical reagents, additives, adhesives, etc.

2. Preparation technology of high purity cobalt chloride

High purity cobalt chloride products refer to cobalt chloride crystals with cobalt content ≥ 24.28%. Executive standard: Q / gzty0 Dongrui Food Group Co.Ltd(001201) 8, which is higher than the national standard for refined cobalt chloride GB / t265252011 and meets the requirements of battery grade cobalt chloride. To prepare high-purity cobalt chloride, first prepare pure cobalt chloride solution, then evaporate and crystallize through MVR and dry at low temperature to obtain high-purity cobalt chloride product. The product is a famous brand product in Jiangxi Province, which is mainly used in the cathode material of lithium cobalt oxide battery; It is also used in analytical reagents, humidity and moisture indicators, ammonia absorbers, etc. 3. Preparation technology of battery grade cobalt trioxide

Battery grade Co3O4 products refer to Co3O4 powder with cobalt content ≥ 72.8%. Executive standard: Q / gzty Chang Jiang Shipping Group Phoenix Co.Ltd(000520) 18, which is higher than non-ferrous industry standard YS / T 6332007 and meets the requirements of battery grade Co3O4. To prepare battery grade Co3O4, first prepare pure cobalt chloride solution, and then continuously add the prepared cobalt chloride solution and sodium hydroxide solution into the reactor in proportion to accurately control the formation and growth rate of hydroxyl cobalt crystal nucleus, so as to obtain battery grade Co3O4 products. The product is mainly used as cathode material of lithium cobalt oxide battery.

4. Deep purification technology of cobalt solution

In the process of solvent extraction, the organic phase in the aqueous phase generally exists in the form of suspended state, dispersed state, emulsified state and dissolved state. The particle size of suspended beads is generally greater than 100 um, which is easy to float on the liquid surface to form oil film or oil layer, which is easy to separate and recover; The particle size of dispersed beads is generally 10 - 100 um. They are suspended in the solution with tiny oil beads and are unstable. After standing for a certain time, they often form oil slick; The particle size of emulsified beads is less than 10um, generally 0.1 - 0.2um; The particle size of dissolved beads is generally smaller than that of emulsified beads, and some can be as small as several nanometers, which are dissolved in the aqueous phase.

The technology is independently invented by the company in combination with the actual production. Its characteristics are: the oil removal treatment of cobalt product liquid is carried out with renewable adsorbent, which mainly uses the structural characteristics of the adsorbent with large pores, and the organic matter is macromolecular matter, which can enter the pores of the adsorbent; The saturated adsorbent can be regenerated and recycled through the heating equipment independently developed by the company, and the organic matter can be volatilized and degraded. The adsorbent is used for deep oil removal of cobalt solution, so that the oil content of cobalt solution is reduced from 15mg / L to about 1mg / L. The technology simplifies the solution purification process, improves the product quality, recycles the adsorbent, reduces the production cost and cobalt loss rate, and realizes the goal of cleaner production.

5. Production technology of manganese sulfate from manganese waste liquid

According to its years of production practice and

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