On August 18, Xiamen Tungsten Industry (600549) announced that the company intends to transfer its 60% stake in Xiamen Tengwangge Real Estate Development Co., Ltd. (referred to as "Xiamen Tengwang Pavilion") by way of listing and transfer. After the completion of this transaction, the company will no longer hold a stake in Xiamen Tengwang Pavilion, and the company's business will no longer include business related to real estate development and operation.
Xiamen Tungsten said that the purpose of the transaction is to concentrate resources and focus on the development of the three core businesses of tungsten and molybdenum, rare earths and new energy materials, which is conducive to its resource allocation and asset structure, and is in line with its long-term strategic planning.
According to the half-year 2021 results disclosed by Xiamen tungsten industry KuaiBao, the company's total operating income in the first half of 2021 was 14.223 billion yuan, an increase of 79.48 percent over the same period last year; the net profit belonging to shareholders of listed companies was about 684 million yuan, an increase of 193.03 percent over the same period last year.
Among them, Xiamen tungsten industry achieved a business income of 6.718 billion yuan in the first half of the business of new energy materials (including lithium cathode materials and hydrogen storage alloys), an increase of 112.94 percent over the same period last year, and a total profit of 291 million yuan, an increase of 208.41 percent over the same period last year.
According to the analysis of Xiamen tungsten industry, the sales of lithium cobalt oxide products continued to improve in the first half of the year; the sales of ternary materials increased significantly compared with the same period last year due to the increase in terminal demand, and the scale effect further appeared.
It is worth noting that Xiamen tungsten Xinneng (688778), the main body of new energy materials operation in Xiamen tungsten industry, landed on the Shanghai Stock Exchange Kechuang Board on August 5, and its share price rose nearly 4 times on the day of listing. On the basis of the production capacity of 60, 000 tons of lithium cathode materials, Xiamen Tungsten Xineng plans to use IPO to raise 1.5 billion yuan into the annual production of 40, 000 tons of lithium-ion battery materials industrialization project (phase I and II) and supplementary liquidity. After all the projects reach production, Xiamen Tungsten Xineng will increase the production capacity of NCM ternary cathode materials by 20,000 tons per year.
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