On the evening of May 17th, Yongxing material (002756) disclosed the preliminary plan for a non-public offering of shares, with a total amount of no more than 1.1 billion yuan. After deducting the issuance costs, the net funds raised will be used for the annual production of 20, 000 tons of battery-grade lithium carbonate projects, 1.8 million tons / year lithium ore efficient mineral processing and comprehensive utilization projects, annual production of 20, 000 tons of automobile high-pressure common rail, air valves and other silver bright rod projects and supplementary liquidity.
Among them, the annual production capacity of battery-grade lithium carbonate project is 20,000 tons, and the construction period is expected to be 12 months. Jiangxi Yongxing New Energy, a wholly owned subsidiary of Yongxing Materials, is proposed to be the main body of the project. After the completion of the project, the annual production capacity of 20,000 tons of battery-grade lithium carbonate will be increased. The project plans to invest 532 million yuan and plans to use the raised capital of 506 million yuan, of which the investment in fixed assets is 497 million yuan and the working capital is 35.55 million yuan.
The construction period of the project of high efficiency mineral processing and comprehensive utilization of 1.8 million tons / year lithium ore is expected to be 12 months, which is mainly implemented by Jiangxi Yongxing New Energy, a wholly owned subsidiary of the company. after the completion of the project, the comprehensive utilization and processing capacity of 1.8 million tons / year lithium porcelain stone will be formed. It is reported that as an upstream supporting project with an annual production capacity of 20,000 tons of battery-grade lithium carbonate, the project provides raw materials for the production of downstream battery-grade lithium carbonate and constructs a battery-grade lithium carbonate whole industry chain system. The total investment of the project is 290 million yuan, and it is proposed to use the raised capital of 277 million yuan, of which the investment in fixed assets is 278 million yuan and the working capital is 11.7419 million yuan.
Public data show that Yongxing material as a domestic special stainless steel long rod leading enterprise, stainless steel rod and wire rod domestic market share has been in the top three for a long time. In recent years, while optimizing and strengthening the special stainless steel business, the company has built a battery-grade lithium carbonate whole industry chain from mining, mineral processing to lithium carbonate deep processing. The battery-grade lithium carbonate project with an annual output of 10,000 tons and upstream supporting projects have been put into production and reached production. At this stage, the lithium power industry has ushered in an explosive growth market opportunity. With the in-depth promotion of the company's layout in the field of special steel new materials and lithium electricity new energy, the achievements of the dual-main industry development strategy are gradually emerging.
Yongxing material said that at present, the supply side of lithium resources is in a state of shortage, restricting the release of production capacity of downstream products such as battery-grade lithium carbonate. The salt lake resources of SQM and ALB located in Chile account for about 20% of the global lithium resource supply, and the supply is uncertain due to the impact of the epidemic. The new production of Australia Lithium Mine is mainly due to the resumption of completed production capacity, and downstream customers have promoted the integration with Australian mineral resources. It is expected that Australia Mine will mainly supply customers in the integrated system in the future. Affected by the shortage of lithium resources, the price of lithium concentrate continues to rise. Some lithium salt production enterprises rely on importing lithium resources from abroad, and there are unstable factors in their supply guarantee and raw material prices, which affect the production and release of lithium carbonate, and there is a gap in the supply of lithium resources and downstream lithium products.
Relevant data show that China's lithium resources mainly rely on imports. In 2020, imported concentrates account for about 72% of the domestic lithium salt production structure, and the self-supply rate of raw materials is low. Therefore, speeding up the development of domestic lithium resources is beneficial to reduce the external dependence of raw materials and is of great significance to the stable supply of domestic lithium industry.
Battery network noted that Yongxing materials in 2020 lithium new energy business revenue of 307 million yuan, lithium carbonate output of 8741.82 tons, sales of 9612.32 tons. In the first quarter of 2021, the lithium power new energy business achieved a net profit of 30.5495 million yuan, with sales of 2587 tons of lithium carbonate.
Yongxing material said that the funds raised to invest in the annual production of 20,000 tons of battery-grade lithium carbonate and upstream supporting projects can further increase the production capacity of lithium carbonate and meet the growing market demand. At the same time, it can make better use of mineral resources and maintain cost advantages, which is conducive to giving full play to economies of scale, further expanding the company's competitive advantage in the lithium materials industry and thickening the company's performance.
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