Sheng Xin Li Neng (002240) released the fixed increase result on July 30th. The company's non-public offering stock price is 8.29 yuan per share, raising a total of about 950 million yuan, and 115 million new shares, which will be listed on the Shenzhen Stock Exchange on August 3. After the listing of new shares, the total share capital of the company will be expanded from 750 million to 864 million, and the new shares are expected to circulate on February 3, 2023.
The battery network noted that the increase of Shengxin Lithium Energy was all underwritten by its three major shareholders, namely Shengtun Yixing, Shengtun Huize and Xiamen Tunxing. The controlling shareholders of the three shareholders are all Shengtun Group. It is understood that Chen Dong, chairman of Shengtun Group, revealed in May this year that an additional 10 billion will be invested in Sichuan to continue to distribute advanced manufacturing industries of new materials, and to build the second headquarters of Shengtun Group in Chengdu. Shengxin LiNeng, a listed company of Shengtun Group, will also move from Futian in Shenzhen to Shuangliu in Chengdu. Chen Dong also said that lithium material is an important industrial direction of Shengtun Group.
What is noteworthy is that the funds raised by the Shengxin Lithium Energy non-public offering are mainly intended to supplement the liquidity of the lithium industry plate, so as to ensure the development of the company's daily production and operation activities such as raw material procurement, labor expenses, and so on. to meet the liquidity needs brought about by its business growth.
It is reported that Shengxin Lithium Energy, formerly known as Weihua shares, was involved in new energy and new materials areas such as rare earth products, lithium chloride, production and sales of battery-grade lithium hydroxide monohydrate and battery-grade lithium carbonate in 2016 by raising funds for investment projects. gradually realize the strategic transformation of the company's business, and then usher in the new main Shengtun Group in 2017, and then gradually focus on lithium materials business through the acquisition of 100% equity in Shengtun Lithium Industry. In November 2020, the company officially changed its name to Shengxin Lithium Energy, and said that the company has completed a major asset restructuring, lithium new energy materials business has become the company's main business.
Sheng Xin Lithium Neng was introduced at the 2020 performance presentation meeting held before. at present, the company's lithium products customers mainly include Ningde Times, Xiamen Tungsten Industry, Shanshan Energy, LGI, Betteri, German Nano, Dangsheng Technology, Rongbai Technology and other industry leading companies. At the same time, the increment of the company's performance in 2021 will be mainly reflected in the lithium business sector. The company's lithium salt business is implemented by the subsidiary Zhiyuan Lithium Industry and Suining Shengxin, in which Zhiyuan Lithium Industry has a design capacity of 40,000 tons of lithium salt per year (including 25000 tons of lithium carbonate and 15000 tons of lithium hydroxide), which has been completed in the fourth quarter of 2020. Suining Sheng's new design capacity is 30,000 tons of lithium salt per year, and the first phase of the project with an annual production capacity of 20,000 tons of lithium hydroxide has started construction at the end of 2020.
According to reports, the net profit of Shengxin LiNeng shareholders belonging to the parent company reached 104 million yuan in the first quarter of this year, turning losses into profits. After deducting non-profits, the net profit of shareholders belonging to the parent company was 98.7472 million yuan, an increase of 268.91 percent over the first quarter of 2020. The company said that in the first quarter of 2021, with the effective control of the COVID-19 epidemic, the rapid development of the downstream application industry of lithium salt and the bottoming rebound after the overfall of lithium salt prices, the profitability of lithium salt business improved, and the company's net profit belonging to the shareholders of the parent company increased significantly compared with the same period last year.
Due to the rising price of lithium salt, Shengxin Lithium Energy also expects a net profit of 250 million yuan to 300 million yuan in the first half of this year.
Sheng Xin Li Neng said that lithium salt products will maintain a relatively strong demand in the medium to long term, and the company has long been optimistic about the new energy materials industry, including lithium salt products. In the future, according to the development strategy of "committed to becoming a global leader in lithium new energy materials", the company will continue to increase investment in the field of lithium salt materials.
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