According to the news on the evening of May 5, Shengxin LiNeng announced that it intends to transfer 51% of its holding subsidiary, Jiangxi Wanhong High-tech Materials Co., Ltd., to Huahong Technology at a price of 137.7 million yuan, or about 140 million yuan. The subsidiary's main business is the comprehensive recycling of waste magnetic materials to produce and sell rare earth oxides. As for the proceeds from the transfer, Shengxin Lithium Energy will be transferred to the "annual production of 20,000 tons of lithium chloride, 10,000 tons of battery-grade lithium hydroxide monohydrate and 10,000 tons of battery-grade lithium carbonate".
In other words, Shengxin LiNeng's move can be said to be another change to further focus on lithium new energy business after its divestiture of the wood-based panel business. After the divestiture and transfer of its rare earth business, Shengxin LiNeng will continue to increase its weight in the core business area of lithium new materials.
Judging from the financial results for the first quarter of 2021, Shengxin Lithium Energy has performed very well. Its revenue in the first quarter totaled 530 million yuan, an increase of 121.2 percent over previous years, and the net profit attributed to listed companies was 104 million yuan, a turnround from losses to profits in the first quarter of last year, an increase of 274 percent over the same period last year.
At the same time, the company also released its 2021 semi-annual results report, which is expected to make a net profit of 250-300 million yuan from January 1 to June 30, 2021, an increase of 249.39% to 279.27%.
As for the reasons for the changes in the company's semi-annual performance, Shengxin LiNeng said that it is expected that during the reporting period, the production and sales of the company's lithium products will increase compared with the same period last year, and the average sales price of the products will increase over the same period last year, resulting in an increase in the company
It is worth mentioning that previously, Shengxin Lithium Neng said on the interactive platform that the company's existing production capacity of lithium carbonate and lithium hydroxide is 25000 tons and 15000 tons respectively, of which some of the capacity built in the fourth quarter of last year was in the capacity release period in the first quarter of this year. The rest of the production line is saturated. In addition, the company, through its subsidiary Suining Shengxin, is expanding its capacity with an annual production capacity of 30,000 tons of lithium salt, and the first phase of the 20,000 tons of lithium hydroxide project is scheduled to be completed in the fourth quarter of 2021.
For the supply of spodumene raw materials, on the one hand, the company will make every effort to protect the production of its own mine Oinuo Mining, on the other hand, the company has signed an off-take agreement with overseas lithium resources enterprises such as Galaxy Lithium Industry, at the same time, the company is also continuing to strengthen its attention and cooperation on mining resources at home and abroad, continue to maintain and deepen the strategic cooperative relationship with international first-class lithium resources companies, and guarantee the supply of raw materials in all directions through various channels.
As we all know, with the increasing popularity of the field of new energy vehicles, the performance of lithium new energy industry chain is particularly strong, in which battery-grade lithium carbonate and battery-grade lithium hydroxide, which play an important role in lithium batteries, make countless lithium-related enterprises come forward one after another. According to SMM research, due to the overall lithium carbonate supply side still has a small increase in April, the market inventory accounts for about 10% of the total demand, so the pre-festival lithium carbonate quotation transaction price has been reduced; after the festival, there are still some downstream mainly wait-and-see, inventory pressure may lead to lithium carbonate transaction price is still slightly reduced risk.
In terms of lithium hydroxide, the pre-festival smelter has no spot for the time being, the transaction is less, and the price is relatively stable. At present, domestic mainstream high-nickel material factories increase the purchase quantity of high-quality battery-grade lithium hydroxide, superimposed overseas battery factories continue to increase orders for high-nickel materials, some supporting models will be released at the end of the year and high-nickel factories will obviously expand production and release production capacity, and the purchase volume of some manufacturers has doubled, so the price of lithium hydroxide may be significantly upward after the holiday. "View details
As of May 6, according to the spot quotation of SMM, the average price of domestic battery-grade lithium hydroxide was 82500 yuan / ton, up 1500 yuan / ton from April 30.
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As of May 6, Shengxin Lithium rose 6.01% to 28.24 yuan per share. at the same time, thanks to the launch of the world's first lithium futures contract, lithium hydroxide futures delivered to China, South Korea and Japan, the lithium battery plate rose gratifyingly today. By the close, Tibet's Everest, Sichuan Power, Jinchen, Tibet Mining, Huafeng and Jiangte Motor's trading limit. Shengxin Lithium Energy also led the list with an increase of more than 6%.
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