On Monday, the price of nickel futures on the London Metal Exchange closed up 90% to US $48078 / ton. Tuesday’s market was even more crazy, once rising to $100000 / ton, almost four times the nickel price on Friday.
Behind this, the market heard that Glencore, an international mining giant, forced China’s nickel giant Qingshan Holding Group Co., Ltd. (hereinafter referred to as “Qingshan series”), which may lead to a loss of more than 12 billion US dollars and even forced to hand over 60% of the equity of Indonesia’s Nickel mine.
The reporter of Huaxia Times noted that A-share listed companies Zhejiang Huayou Cobalt Co.Ltd(603799) ( Zhejiang Huayou Cobalt Co.Ltd(603799) . SH), Chengtun Mining Group Co.Ltd(600711) ( Chengtun Mining Group Co.Ltd(600711) . SH) have in-depth cooperation with Qingshan series on nickel ore in Indonesia. Among them, Zhejiang Huayou Cobalt Co.Ltd(603799) has dropped the limit for two consecutive days, and closed at 91.13 yuan / share on March 9, with 133700 hands blocking the limit Chengtun Mining Group Co.Ltd(600711) closed at 9.95 yuan / share, and 9933 closed the limit. As of September 30, 2021, the number of Chengtun Mining Group Co.Ltd(600711) shareholders was 169300 and the number of Zhejiang Huayou Cobalt Co.Ltd(603799) shareholders was 134300.
In this regard, Chengtun Mining Group Co.Ltd(600711) staff told the reporter of Huaxia times: “the company has not participated in the speculation of copper nickel futures market and is cautious about the hedging business in the futures market of existing production varieties. At present, the number of hedging positions is small, which is far less than the product output owned by the company. The projects cooperated by the company with Qingshan Series in Indonesia have been put into operation and have little impact.”
Zhejiang Huayou Cobalt Co.Ltd(603799) told reporters that Zhejiang Huayou Cobalt Co.Ltd(603799) and Qingshan have a joint venture, and the relevant accounts receivable related to Qingshan are being verified.
For the decline limit of the two stocks and the future market of new energy metals, Guo Shiliang, a senior financial commentator, told Huaxia times: “It is mainly due to the impact of investment sentiment, including the sharp rise in nickel price and the factors of capital manipulation and speculation behind it, which will have a certain impact on enterprises that have cooperation with Qingshan series or nickel upstream and downstream industrial chain. In the short term, the market investment sentiment will dominate, but the actual impact will not be particularly large. For the future market of new energy metals, the short-term sharp decline is conducive to squeezing the market.” Value pressure, after the valuation returns to a reasonable value level, there is no need to be overly pessimistic. “
Zhejiang Huayou Cobalt Co.Ltd(603799) : verifying relevant information
According to the official website of Qingshan department, on June 8, 2017, Qingshan enterprise signed a final cooperation agreement with French ehmann group to jointly develop wedabay nickel mine on Halmahera island.
The vidabe Industrial Park in Indonesia is located on hamahela Island, North Maluku County, Maluku Province, Indonesia, with world-class nickel resources of about 9.3 million tons. The park will build ferronickel pyrometallurgical production line and its supporting thermal power generating units and dry bulk cargo wharf of more than 50000 tons, and strive to build an industrial cluster dominated by ferronickel industrial chain.
The reporter of Huaxia Times noted that Zhejiang Huayou Cobalt Co.Ltd(603799) is closely related to Qingshan system, and about 80% of the company’s long-term accounts receivable may be related to Qingshan system.
Zhejiang Huayou Cobalt Co.Ltd(603799) past announcements show that as of the end of September 2021, the company’s total accounts receivable from Indonesia vidabe Industrial Park Co., Ltd. (hereinafter referred to as “IWIP company”) and veinstoneinvestment Limited (hereinafter referred to as “vistone”) accounted for 83% of the long-term accounts receivable.
Among them, IWIP company is a joint venture established by Zhejiang Huayou Cobalt Co.Ltd(603799) and Zhenshi group, Contemporary Amperex Technology Co.Limited(300750) and Qingshan series to jointly invest in the development of vidabe Industrial Park project in Indonesia, covering a complete industrial chain from upstream raw material nickel mining, ferronickel smelting to downstream nickel product deep processing. As of September 30, 2021, the total assets of IWIP company were 1.773 billion yuan and the total liabilities were 1.087 billion yuan. From January to September, 2021, IWIP company realized an operating revenue of 735 million yuan and a net profit of 196 million yuan.
Vistone Zhejiang Huayou Cobalt Co.Ltd(603799) is a Hong Kong platform company jointly established with Zhenshi group, Contemporary Amperex Technology Co.Limited(300750) and Qingshan series to cooperate with the development of Indonesia’s nickel resources project. Its main purpose is to invest in the thermal power generation project in Indonesia’s vidabe Industrial Park and support the smelting of laterite nickel ore in the industrial park. As of September 30, 2021, vistone’s total assets were 1.728 billion yuan and its total liabilities were 1.258 billion yuan; From January to September 2021, the operating revenue was 666 million yuan and the net profit was 113 million yuan.
From the perspective of equity structure, in May 2019, the general manager’s office meeting of Zhejiang Huayou Cobalt Co.Ltd(603799) company decided to acquire 100% equity of Huachuang International Investment Co., Ltd. through its subsidiary Huayou mining Hong Kong, and Huachuang international holds 30% equity of Indonesia weidabei Industrial Park Co., Ltd; Subscribe 20% equity of Xinyue Technology Co., Ltd. (additional issue) through Hong Kong Sun Huawei Nickel Resources Development Co., Ltd., and indirectly hold 10.26% equity of weidawan nickel company.
For the risk exposure of Zhejiang Huayou Cobalt Co.Ltd(603799) and Qingshan joint venture and related receivables, Zhejiang Huayou Cobalt Co.Ltd(603799) told reporters: “the relevant situation is being verified.”
Chengtun Mining Group Co.Ltd(600711) : the project has been put into operation with little impact
According to the data, Hongsheng International Resources Co., Ltd., a wholly-owned subsidiary of Chengtun Mining Group Co.Ltd(600711) increased the capital of Huawei nickel Co., Ltd. (hereinafter referred to as “Huawei nickel”) by US $5.5 million and obtained 55% equity of Huawei nickel. Hengtong Asia Technology Co., Ltd., a subsidiary established in Hong Kong by Huawei nickel and Yongqing Technology Co., Ltd. (hereinafter referred to as “Yongqing technology”), jointly established Youshan nickel in Indonesia.
The authorized registered capital of Youshan nickel is US $30 million. Huawei nickel holds 65% equity of Youshan nickel and Hengtong Asia holds 35% equity of Youshan nickel.
The reporter of Huaxia times found that Yongqing technology is a holding subsidiary of Qingshan, while Huayou holding (Hong Kong) Co., Ltd. is a wholly-owned subsidiary of Zhejiang Huayou Holding Group Co., Ltd., mainly engaged in the development of cobalt and nickel resources, metallurgical processing and recycling of non-ferrous metals, research on lithium battery materials and other mining and metallurgical industries.
According to the data, Youshan nickel has invested and built a high nickel matte project with an annual output of 34000 tons of nickel metal in vidabe Industrial Park, Indonesia, with a total investment of 407 million US dollars.
Is there any risk in such a huge investment Chengtun Mining Group Co.Ltd(600711) staff told Huaxia times: “the company has not participated in the speculation of copper and nickel futures market and is cautious about the hedging business in the futures market of existing production varieties. At present, the number of hedging positions is small, which is far less than the product output owned by the company. The company’s cooperation projects with Qingshan Series in Indonesia have been put into operation and have little impact.”
As of press time, Aoyama Department has recently said that by replacing China’s metal nickel sector with its high matte nickel, it has been allocated to sufficient spot delivery through various channels.
How will this epic air force event be interpreted in the future Zhejiang Huayou Cobalt Co.Ltd(603799) and Chengtun Mining Group Co.Ltd(600711) of 300000 investors will usher in what kind of opening tomorrow? The reporter of Huaxia times will continue to follow up.
