Buy low and sell high? Just disclosed the plan to reduce holdings and 15.928 billion days to increase the lithium industry in the gourd to sell what kind of drugs?

Tianqi Lithium Industry launched a new fixed increase plan with a total amount of more than 15.9 billion yuan, and the controlling shareholders will subscribe in full cash. It is worth mentioning that before the release of the fixed increase plan, Tianqi Lithium Industry had just disclosed the controlling shareholder reduction plan at the beginning of the month.

On the evening of January 15, Tianqi Lithium Industry issued a pre-plan for the non-public offering of A-shares, which will be issued through its own funds and self-raised funds to subscribe for the non-public offering shares in cash. The issue price of non-public offering shares is 35.94 yuan per share, and the number of non-public offering shares is not more than 443 million shares. The total amount of funds raised shall not exceed 15.928 billion yuan. After deducting the issuance expenses, it will all be used for the company to repay bank loans and supplement current funds, so as to optimize the company's asset-liability structure, improve asset quality, reduce financial risks and improve financial situation.

It is worth noting that the offering price of the non-public offering shares of Tianqi Lithium Industry is 35.94 yuan per share, which is a substantial discount to the price of 59.76 yuan per share in the secondary market.

Since 2020, Tianqi Lithium Industry has been in a debt crisis due to the merger and acquisition of SQM, with nearly $1.9 billion of debt maturing at the end of November of that year.

At the critical moment, on the evening of December 8, Tianqi Lithium Industry announced that Tianqi Lithium Industry and the syndicate signed a "revised and restated loan Agreement", extending the repayment period of a total of US $1.884 billion in M & A loans to November 26, 2021.

As the world's leading lithium material company, the company is benefiting from the overall prosperity of the new energy vehicle industry chain, and stimulated by this good news, Tianqi lithium shares have rebounded strongly recently. statistics found that since the beginning of November, in a short period of two months, Tianqi lithium industry has more than doubled and reached a record high of 63.49 yuan per share on January 13.

It is worth mentioning that before the release of the fixed increase plan, Tianqi Group disclosed a plan to reduce its holdings. Tianqi Lithium Industry announced in the evening on January 6 that the controlling shareholder Tianqi Group and its concerted actors planned to reduce their holdings of no more than 4% of the company's total share capital due to the provision of financial assistance and other capital needs to the company.

According to Article 44 of the new Securities Law, shareholders, directors, supervisors and senior managers who hold more than 5% of the shares shall sell the shares of the company within six months after the purchase, or buy again within six months after the sale, and the proceeds thus obtained shall be owned by the company.

Because the reduction is to sell the stock, and the increase is to buy the stock, some media think that Tianqi Lithium Industry's move is more like short-term trading.

However, some people in the industry have put forward a different point of view, saying that the fixed growth of Tianqi lithium industry is very difficult to touch the line of short-term trading. First, this is only a fixed increase plan, and the progress of follow-up implementation is unknown; second, the main body of Tianqi lithium industry can be Tianqi Group, or it can be a wholly-owned subsidiary of Tianqi Group. The required shareholder of more than 5% is Tianqi Group; finally, if Tianqi Group's reduction plan is completed in the first half of the year, and Tianqi Lithium Industry's rights issue subscription is completed in the second half of the year, it will not be within six months. Moreover, the implementation of the share reduction plan is also uncertain.