Tibet Mineral Development Co.Ltd(000762) may 21 disclosed that the company plans to transfer 100% equity of its holding subsidiary Baiyin Zabuye Lithium Industry Co., Ltd. through public listing on Shanghai United equity exchange. At present, the relevant evaluation and audit work is in progress, and the transaction price and transaction object are still uncertain. At present, with the rapid development of lithium industry and the high price of lithium salt, the transfer of the company has attracted market attention.
According to the disclosure, the registered capital of Baiyin Zabuye is 320 million yuan only, and its registered address is located in the high-tech industrial park of the Chinese Academy of Sciences, Baiyin District, Baiyin City, Gansu Province. Its business scope is the production of lithium hydroxide and the production and processing of lithium, boron, potassium, sodium and bromine series products.
According to the previous announcement, due to the backward process and technology of silver Zabuye, the current production capacity is only in industrial products, the production and processing cost of lithium salt products is high, and the phase II project of lithium resource development has not made a breakthrough for many years, which was terminated in June last year. In addition, silver Zabuye is 3300 kilometers away from Tibet Zabuye, further pushing up the processing cost. With the progress of lithium extraction technology in Salt Lake, its market competitiveness is weak. Before 2020, the price of lithium salt products was low, which dragged down the company’s performance for a long time. Since 2020, silver Zabuye has been shut down for more than two years.
Tibet Mineral Development Co.Ltd(000762) relevant people said that in addition to the weak competitiveness of silver Zabuye, after China Baowu group took over the company, the company seized the market opportunity of new energy industry, accelerated Tibet Zabuye phase II project, and started the construction of 10000 ton battery grade lithium carbonate project in 2021. It is expected to be completed on July 30, 2023 and put into operation on September 30, 2023. In fact, from the perspective of the company’s future long-term planning and the development trend of strategic products, the importance of silver Zabuye lithium salt products in the company’s product structure will also decline in the future. Therefore, from the perspective of optimizing the company’s industrial layout and resource allocation, the company chooses to dispose of this part of assets under the current good industrial market environment, hoping to recover part of the investment in that year and improve the company’s asset structure, Reduce control and investment risks.
In addition, Tibet Mineral Development Co.Ltd(000762) also disclosed the announcement that the person acting in concert of the controlling shareholder intends to cancel the company. Tibet Tibetan Chinese industry and Trade Co., Ltd. (hereinafter referred to as “Tibet Chinese industry and trade”) the person acting in concert of the company’s controlling shareholder Tibet Mineral Development Co.Ltd(000762) Asset Management Co., Ltd. issued the notification letter on the change of the reduction method of Tibet Tibetan Tibetan Chinese industry and Trade Co., Ltd. to the company. After deliberation and approval by its shareholders’ meeting, Tibet Chinese industry and trade decided to dissolve Tibet Chinese industry and Trade Co., Ltd, And cancel. At present, Tibetan Chinese industry and trade holds 7980613 shares of Tibet Mineral Development Co.Ltd(000762) shares, which will be distributed according to the proportion of equity of Tibetan Chinese industry and trade shareholders in Tibetan Chinese industry and trade, and will not reduce Tibet Mineral Development Co.Ltd(000762) shares through the secondary market. Tibetan Chinese industry and trade shareholders and shareholding are Tibet Mineral Development Co.Ltd(000762) Asset Management Co., Ltd. and Haikou Begonia industry and Trade Co., Ltd. respectively. After the cancellation of the legal personality of Tibet China industry and trade, the controlling shareholder and actual controller of Tibet Mineral Development Co.Ltd(000762) remain unchanged, which are Tibet Mineral Development Co.Ltd(000762) Asset Management Co., Ltd. and China Baowu iron and Steel Group Co., Ltd.
Tibet Mineral Development Co.Ltd(000762) the above-mentioned person said that the Tibetan Chinese industry and trade was prepared to sell the company’s shares through the secondary market last year. Now the solution to this historical problem is that on the one hand, the large and small shareholders of the Tibetan Chinese industry and trade believe that the current secondary market share price does not reflect the company’s value and are unwilling to sell it. On the other hand, it also follows the strategic intention of the actual controller China Baowu group to increase its shareholding in listed companies, Reflects the care of the market. (Tian Limin)
