SMM: September 14, Science and Technology Innovation Board listing Committee in 2020 the 74th review meeting agreed that Hunan long-term Lithium Co., Ltd. (hereinafter referred to as long-term Lithium) IPO.
According to the prospectus, the long-term lithium division of Science and Technology Innovation Board IPO, plans to issue no more than 482 million shares, accounting for no less than 25 per cent of the total share capital after the offering. It is proposed to raise 2.718 billion yuan, which will be used for the first phase of vehicle lithium battery cathode material expansion project and supplementary working capital after deducting issuance expenses.
It is reported that long-term Lithium Co., Ltd. was established on June 18, 2002, is a high-tech enterprise mainly engaged in the research and development, production and sales of high-efficiency battery cathode materials, the main products include ternary cathode materials and precursors, lithium cobalt oxide cathode materials, nodular nickel and so on. Since entering the field of ternary cathode materials in 2011, the company has successfully entered the supplier system of mainstream lithium battery manufacturers such as Ningde era, BYD, Yiwei Lithium Energy, Xin Wanda and so on. and stabilize and deepen customer cooperation through continuous technical optimization and product iteration.
From 2017 to 2019, among the ternary cathode materials sold by long-term Lithium, conventional ternary cathode materials such as 3 series, 5 series and 6 series NCM accounted for 100.00%, 98.58% and 98.80% respectively. The proportion of sales revenue of high nickel ternary cathode materials such as NCM and NCA was 0%, 1.42% and 1.2%, respectively. During the reporting period, due to the limitation of the company's capacity expansion and downstream market demand, the product structure of the company during the reporting period was mainly conventional ternary cathode materials. as one of the future development directions of the industry, the business income and market share of high-nickel ternary cathode materials are relatively low. With the company's new production line has been put into production, 8-series NCM products have passed a number of customer certification, 2019 has achieved 100-ton sales, follow-up sales and market share are expected to further increase. At the same time, the company will further strengthen the R & D investment of high-nickel products, promote the upgrading of product technology, and open up the market of high-nickel ternary cathode materials.
From January to June 2020, long-term Lithium Co., Ltd. achieved an operating income of 664.8155 million yuan, a decrease of 56.91 percent over the same period last year, an operating profit of 13.1385 million yuan, a decrease of 90.51 percent over the same period last year, and a net profit of 15.6657 million yuan, a decrease of 87.87 percent over the same period last year. Long-term Like said that the sharp decline in performance in the first half of 2020 was mainly due to the dual superimposed impact of the COVID-19 epidemic and the subsidy retreat policy for new energy vehicles, and the domestic market demand for power batteries for new energy vehicles declined significantly in the first half of 2020, and the company's performance was greatly affected.
It is worth noting that according to the prospectus, China Minmetals indirectly controls 22.88%, 22.88% and 11.44% of long-term Like through Minmetals, Changsha Mining and Metallurgical Institute and Ningbo Chuangyuan respectively, totaling 57.20% of the company's shares, which is the actual controller of the company.
Data show that at present, China Minmetals has 8 listed companies. China Metallurgical (A + H shares), Minmetals Resources (H shares), Minmetals Real Estate (H shares), Minmetals Capital (A shares), Minmetals rare Earth (A shares), Minmetals Development (A shares), China Tungsten High-tech (A shares), Zhuye Group (A shares).
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