Since this year, the market shock has intensified, the popular tracks in the early stage have been callback, and many funds have also continued to fall sharply.
However, the fund manager’s research enthusiasm has not been affected by the market. Under the background of the collective decline of the new energy track, individual stocks related to the new energy industry chain are receiving hot institutional research.
According to the research information recently disclosed by the A-share listed company Tibet Mineral Development Co.Ltd(000762) , from January 6 to January 9, the company received five institutional surveys, with a total of 224 institutions involved, including public offerings by stars such as e fund, China Europe Fund and huitianfu fund, as well as insurance assets such as PICC assets, Taibao assets and Guoshou pension.
It is worth mentioning that Hu Xinwei, known as huitianfu’s “consumption brother” by the market, also appeared in the research of Tibet Mineral Development Co.Ltd(000762) for the first time this year. The third quarterly report of 2021 shows that the funds managed by Hu Xinwei do not hold Tibet Mineral Development Co.Ltd(000762) heavily, and only Contemporary Amperex Technology Co.Limited(300750) is related to their business. The analysis shows that the research of fund companies generally includes individual stocks related to the industrial chain. Through specific research, we can better understand the industry environment of the stocks held.
Tibet Mineral Development Co.Ltd(000762) equity incentive scheme attracts institutions to gather for research
Since the beginning of the year, new energy track stocks have continued to decline, but institutions are still hot research on individual stocks related to the industrial chain.
Recently, according to the research information disclosed by Tibet Mineral Development Co.Ltd(000762) , the company received five institutional research from January 6 to January 9. Among them, on January 9, the company received three institutional research in the form of teleconference, which shows the popularity of the research.
According to the data, 224 institutions have conducted research on Tibet Mineral Development Co.Ltd(000762) in five working days this year, including 93 public funds, which are also the main force of the research. There are 23 private institutions and insurance companies, 13 brokerage institutions and 11 overseas institutions.
Among the institutions participating in the research, there are not only star public offerings such as e fund, China Europe Fund, huitianfu fund and Jingshun Great Wall, but also large-scale insurance funds such as PICC assets, Taibao assets and Guoshou pension. Star private placements such as Lingren investment and chaos investment are also rare.
On the eve of institutional research, Tibet Mineral Development Co.Ltd(000762) issued an equity incentive plan. The company plans to grant no more than 489800 restricted shares to 40 directors, supervisors, senior managers and technical backbone personnel of listed companies at the price of 26.39 yuan / share, accounting for about 0.09% of the total issued share capital of Tibet Mineral Development Co.Ltd(000762) . Among them, no more than 409800 shares were granted for the first time, accounting for 83.7% of the total granted; 80000 shares are reserved, accounting for 16.3% of the total granted.
The scheme sets a number of performance indicators in terms of unlocking. Specifically, the company takes the weighted average return on net assets, growth rate of operating income, per capita realized profit, turnover of two funds and the proportion of lithium extraction from China’s Salt Lake as the performance evaluation indicators.
Among them, the operating revenue is based on the performance in 2020, and the growth rates in 2022, 2023 and 2024 are not less than 32%, 44% and 41% respectively; From 2022 to 2024, the return on net assets of listed companies shall not be less than 5%, 8% and 10% respectively; The per capita profit is more than 110000 yuan, 130000 yuan and 150000 yuan respectively; The turnover days of the two funds are less than 130 days, 120 days and 105 days.
It is worth mentioning that in the performance evaluation indicators, the company also mentioned the salt lake lithium business. According to the plan, the proportion of lithium extraction from China’s Salt Lakes by the company must reach 5%, 10% and 13% respectively from 2022 to 2024.
According to the calculation, the lithium extraction output of the company’s lithium salt lake from 2022 to 2024 is expected to reach 5000 tons, 10000 tons and 15000 tons respectively. In the “record of investor relations activities” announced on October 19, 2021, the company mentioned that “it plans to produce 4000 tons of lithium salt in 2021, 5000 tons in 2022, no less than 10000 tons in 2023, 17000 tons in 2024 and no less than 30000 tons from 2025 to 2026.”
China Merchants Securities Co.Ltd(600999) believes that this equity incentive will help stimulate the enthusiasm of the company and employees, force the company’s mechanism reform, effectively attract and retain talents, and enhance the demonstration effect of reform in Tibet. At the same time, it will help the company realize the plan to achieve a lithium salt production capacity of 30000 tons by 2025, and even the autonomous region’s expectation that the company will achieve a lithium salt production capacity of 50000 tons by 2025.
lithium extraction from Salt Lake is the focus of the organization
According to public information, Tibet Mineral Development Co.Ltd(000762) is the largest comprehensive mineral product development company in Tibet, mainly engaged in the mining and deep processing of chromite, lithium, copper, gold and boron resources. The Zabuye Salt Lake in Tibet, which has the exclusive mining right, is the third largest lithium salt lake in the world and the largest lithium salt lake in Asia. Moreover, the lithium content in the brine of Zabuye Salt Lake in Tibet is second only to Atacama Salt Lake in Chile, and the lithium products rank second in the world. It also has the unique natural lithium carbonate solid resources in the world and the characteristics of high lithium, poor magnesium and rich lithium carbonate, The brine has approached or reached the saturation point of lithium carbonate, and the resource quality is better than that of similar salt lakes in the world.
According to the survey summary of Tibet Mineral Development Co.Ltd(000762) , in addition to the existing mineral mining business of Tibet Mineral Development Co.Ltd(000762) , the visiting institutions are particularly concerned about the company’s lithium carbonate production and lithium extraction from salt lakes.
The company said that in terms of lithium salt, the original solar pond of Zabuye Salt Lake phase I plans to continue to increase production capacity as much as possible (grade 50-70% lithium concentrate); The EPC + O contract of phase II 12000 ton lithium carbonate project has entered the preliminary preparation, and it is expected to start in April 2022 and put into operation in September 2023; In addition, the company signed a 100 ton lithium hydroxide pilot test contract with Jiangsu Jiuwu Hi-Tech Co.Ltd(300631) . After the pilot test is successful, the construction of 10000 ton lithium hydroxide project will be considered later. In terms of chromite, the 150000 ton expansion and transformation has entered the design stage, and the construction will be started in 2022.
According to the company, the Tibet Autonomous Region is rich in salt lake resources, with more than 20 of economic value, and the total reserves may exceed more than 20 million tons of LCE. However, due to the high altitude and imperfect public and auxiliary facilities in Tibet, the follow-up development is facing challenges; State owned enterprises have the advantage of resource synergy.
The company said that the government of the autonomous region attaches great importance to economic development and actively supports the company’s Salt Lake development. It hopes to take the development of Zabuye Salt Lake as a benchmark project to drive the construction of “lithium city” in Shigatse.
In addition, the verification of lithium boron potassium ore resources and reserves in Zabuye mining area announced by the company is also concerned by the organization. According to the announcement, after review, the retained resource reserves identified within the mining certificate of Zabuye salt lake deposit are as follows: the retained resource of the main mineral lithium carbonate (Li2CO3) is 1787600 tons, including 1636800 tons of controlled resources, 150800 tons of inferred resources and 545100 tons of credible reserves.
70 billion “consumption brother” appeared for the first time this year
Hu Xinwei, known as “the first brother of consumption”, the “ten-year sweeping monk” in the consumer industry, is one of huitianfu’s star fund managers.
As a fund manager focusing on tracking the consumer industry, the companies surveyed by Hu Xinwei are generally dominated by consumer stocks. However, at the beginning of this year, Hu Xinwei surveyed individual stocks in the new energy industry chain, which makes people sigh. Is the “first brother of consumption” going to “change jobs”?
Hu Xinwei’s three quarterly report on huitianfu consumption industry fund shows that the fund has a heavy load of Baijiu, beer and duty-free consumer industries, but at the same time, the fund also has a power battery leader, Contemporary Amperex Technology Co.Limited(300750) .
The development of new energy industry is in full swing, the demand for lithium salt is growing explosively, the battle for lithium continues, Contemporary Amperex Technology Co.Limited(300750) and the layout of upstream resources is also increased.
And Tibet Mineral Development Co.Ltd(000762) accelerating the layout of salt lakes to extract lithium may alleviate the tight supply of raw materials for lithium salt production. China Merchants Securities Co.Ltd(600999) said that the company plans to form 25000 tons of lithium capacity by 2023 and carry out resource integration in the region at the same time. According to the requirements of the autonomous region government, it is planned to form a lithium salt production capacity of 50000 tons during the 14th Five Year Plan period to become the leader of Tibet’s salt lake industry. Based on this calculation, the company will become one of the lithium resources companies with the fastest compound annual growth rate of self-produced ore in the next five years, and one of the companies with low market value corresponding to the output of single ton of self-produced ore in 2025. At the same time, it is also one of the companies with greater certainty of resource expansion in the future.
China International Capital Corporation Limited(601995) said that after Baowu took the lead, Tibet Mineral Development Co.Ltd(000762) began to promote the technical transformation of Zabuye phase I and the construction of 10000 ton battery lithium carbonate project. The project adopts a new process path of “salt field evaporation + membrane separation + MVR” and is equipped with a “solar thermal cogeneration + photovoltaic” project for energy supply, which is in line with the resource characteristics of Zabuye Salt Lake and the development conditions of Tibet, The planned lithium carbonate capacity of the project is 12000 tons, and the company plans to put into operation in September 2023. Tibet Mineral Development Co.Ltd(000762) benefiting from the comprehensive empowerment of Baowu group, it is expected to build Zabuye Salt Lake into a benchmark project for lithium extraction in Tibet Salt Lake, further integrate lithium resources in Tibet Salt Lake and open up growth space.
With regard to the cooperation between Tibet Mineral Development Co.Ltd(000762) and Contemporary Amperex Technology Co.Limited(300750) , during the research activities, the company mentioned that the company only makes some preliminary exchanges with Contemporary Amperex Technology Co.Limited(300750) . If there is substantive cooperation progress in the follow-up, the company will fulfill the obligation of information disclosure in time. Please pay attention to the company’s announcement.
(source: Securities Times)
