If the subsidiary silver Zabuye is listed and transferred successfully, the industrial layout of Tibet Mineral Development Co.Ltd(000762) will be further optimized.
Tibet Mineral Development Co.Ltd(000762) 5 on May 20, the company announced that it plans to publicly list and transfer 100% equity of its holding subsidiary Baiyin Zabuye lithium Co., Ltd. the listing place is Shanghai United equity exchange. The relevant evaluation and audit work is in progress, and the trading price and trading object are still uncertain.
The announcement shows that the proposed transaction does not constitute a major asset restructuring Tibet Mineral Development Co.Ltd(000762) said that since the transaction will be conducted in the form of public listing transfer, it is not possible to determine whether it constitutes a related party transaction. If a connected transaction is formed in the process of transaction promotion, the company will timely perform the approval procedures in accordance with relevant regulations.
Statistics show that Baiyin Zabuye is located in the high-tech industrial park of the Chinese Academy of Sciences, Baiyin District, Baiyin City, Gansu Province. Its business scope is mainly lithium hydroxide production. In terms of equity, Tibet Mineral Development Co.Ltd(000762) in addition to directly holding 63.125% equity of silver Zabuye, the company also holds 36.875% equity of silver Zabuye through its holding subsidiary Tibet Xigaze Zabuye lithium industry.
According to the announcement, there is no mortgage or pledge in silver Zabuye. In terms of financial data, by the end of the first quarter of 2022, the net assets of silver Zabuye were 209 million yuan (Unaudited); In the first quarter of 2021 and 2022, the net profit was 5.3531 million yuan and -5.2725 million yuan respectively.
Tibet Mineral Development Co.Ltd(000762) the sale of silver Zabuye was also expected. Previously, according to the production process path and finishing arrangement of Tibet Mineral Development Co.Ltd(000762) annual 10000 ton lithium concentrate project, lithium concentrate, the primary product of Zabuye Salt Lake, was transported to Gansu, and refined by Baiyin Zabuye company to produce lithium carbonate, lithium hydroxide and other products.
“Baiyin is not in the Salt Lake area. Many normal tailings in the Salt Lake area have become pollution in other areas, facing problems such as cost and environmental protection, which have affected the performance of listed companies and have no advantages.” At that time, people close to Tibet Mineral Development Co.Ltd(000762) told reporters that on the eve of the launch of Zabuye phase II project, silver Zabuye was no longer in the company’s future plan.
That’s true. The reporter learned from the interview that in view of the limitations of silver Zabuye company’s process, production cost and environmental protection conditions, silver Zabuye has been basically in a state of shutdown since 2020.
For this transaction, Tibet Mineral Development Co.Ltd(000762) said that the transfer of Baiyin Zabuye equity is conducive to optimizing the company’s industrial layout and resource allocation, improving asset structure, reducing control and investment risks, and is in line with the company’s strategic development plan and long-term interests.
