Lithium electric heating has attracted cross-border players, including Jinyuan Ep Co.Ltd(000546) . Since the third quarter of 2021, the company has acquired a number of enterprises involved in lithium extraction from salt lakes.
After acquiring the target, Jinyuan Ep Co.Ltd(000546) (000546, SZ) immediately threw out the production expansion plan. Today, Jinyuan Ep Co.Ltd(000546) disclosed that the holding subsidiary Tibet Ali lithium source Mining Development Co., Ltd. (hereinafter referred to as lithium source mining) plans to invest 800 million yuan to build the “8000 CuO Salt Lake 10000 ton lithium salt project” in Ali, Tibet. It is estimated that the annual output value of 1.2 billion yuan is not a small income, Jinyuan Ep Co.Ltd(000546) the annual revenue in 2020 is only 8.671 billion yuan.
10000 ton lithium salt project
Today (January 5), Jinyuan Ep Co.Ltd(000546) disclosed that the holding subsidiary Tibet Ali lithium source Mining Development Co., Ltd. (hereinafter referred to as “lithium source mining”) plans to invest 800 million yuan to build the “80000 CuO Salt Lake 10000 ton lithium salt project” in Ali, Tibet.
According to the disclosure, the first phase of the 80000 ton lithium salt project in qiancuo Salt Lake will be started before the end of December 2021, and the on-site expansion test device with a capacity of 2000 tons / year will be built, so as to realize the offline production of products and reach the production standard by the end of May 2022.
Phase II will optimize the design based on the 2000 t / a expanded test device, build an 8000-10000 T / a production device, and strive to complete the product offline by the end of November 2022.
The construction period of the whole project is 13 months, and the annual output value is expected to be about 1.2 billion yuan.
The reporter of the daily economic news noted that Jinyuan Ep Co.Ltd(000546) today’s share price rose against the trend, and the transaction amount was as high as 1.4 billion yuan. In fact, the annual output value of 1.2 billion yuan is a lot of income, Jinyuan Ep Co.Ltd(000546) the annual revenue in 2020 is only 8.671 billion yuan.
Jinyuan Ep Co.Ltd(000546) also said that it plans to solidly promote the comprehensive utilization and green development of modern salt lake industry through the integration of salt lake resources in Tibet.
It is worth mentioning that the salt lake lithium extraction technology of Jinyuan Ep Co.Ltd(000546) is electrochemical deintercalation.
Electrochemical de intercalation method is to reverse the working principle of lithium-ion battery to extract lithium from Salt Lake, and take natural brine as the electrolyte of traditional lithium battery. That is commonly known as extracting lithium from raw halogen. At present, “adsorption + membrane” is more common in China, mainly extracting lithium from old brine.
frequent cross-border acquisition of salt lake lithium
As a traditional cement manufacturer, Jinyuan Ep Co.Ltd(000546) took advantage of last year’s lithium electric heating to cross the border.
On November 8, 2021, Jinyuan Ep Co.Ltd(000546) announced that the company acquired 51% equity of Liyuan mining with its own capital of 510 million yuan. Less than 2 months from the announcement date, Jinyuan Ep Co.Ltd(000546) will expand the production of the target project.
From the financial data, the total assets of the target company at the end of 2020 were 60.3 million yuan, the total liabilities were 31.26 million yuan, and the net assets were 29.04 million yuan. As of the announcement date at that time, the subject company had no revenue. The operating profits in the first three quarters of 2020 and 2021 were – 1.39 million yuan and – 270000 yuan respectively, and the net profits were – 1.39 million yuan and – 310000 yuan respectively.
There is a thought-provoking acquisition detail. When the annual output of the subject lithium carbonate (lithium phosphate) exceeds 8000 tons, Jinyuan Ep Co.Ltd(000546) agrees to continue to acquire 49% of the equity of the target company according to the new evaluation value at the time of transfer evaluated by the evaluation institution recognized by both parties. Under the same conditions, the listed company has the preemptive right.
The production capacity of Jinyuan Ep Co.Ltd(000546) has exceeded 8000 tons. Does this mean that the listed company is determined to win the remaining 49% equity?
This acquisition of lithium resources is not Jinyuan Ep Co.Ltd(000546) the first acquisition.
Earlier, on September 24, Jinyuan Ep Co.Ltd(000546) wanted to acquire 51% shares of Chenyu Mining Co., Ltd. in Ali Region, Tibet. The overall valuation of 100% equity of the target company was 1.2 billion yuan. Chenyu mining is located in jibuchaka Salt Lake, Gaize County, Tibet.
On October 13, Jinyuan Ep Co.Ltd(000546) announced that the company planned to acquire no less than 51% equity of Heli industry. The main business of Tibet lithium industry is the deep processing enterprise of lithium extraction from salt lake. In phase I, a production line of 5000 tons of battery grade lithium carbonate (or battery grade lithium phosphate) and 1000 tons of high-purity lithium carbonate (or battery grade lithium phosphate) has been completed and put into operation. In phase II, a production line of 5000 tons of battery grade lithium hydroxide and 4000 tons of battery grade lithium chloride is planned to be built.
Although the cross-border outcome of Jinyuan Ep Co.Ltd(000546) is unpredictable, the secondary market has been willing to give a higher valuation. Since November last year, Jinyuan Ep Co.Ltd(000546) share price has risen from 10 yuan / share to the highest 16.7 yuan / share. At present, the market value exceeds 10 billion yuan.
(Daily Economic News)
