SMM March 25th: recently, although under the heavy blow of the Ministry of Industry and Information Technology and other four departments, the price rise of domestic lithium-related products has been suspended, but the prosperity of the lithium industry still exists, and there are still many enterprises that cross-border layout in the field of lithium electricity, trying to get a piece of the pie. As early as in early January this year, it was planned to buy Ningbo Yongshan's 100% stake in Hunan Yongshan Lithium Industry Co., Ltd. and Jixiang shares in the layout of lithium business for 480 million yuan. Once again, it successfully "took off" by virtue of this advantage, recording three boards in four days!
On the news side, on March 21, Jixiang disclosed the equity incentive plan and mentioned the annual performance conditions. In 2022, the revenue of lithium-related business plate is not less than 2 billion yuan, the cumulative operating income of lithium-related business plate in 2022 and 2023 is not less than 5 billion yuan, and the cumulative operating income of lithium-related business plate in 2022, 2023 and 2024 is not less than 9 billion yuan.
It should be noted that Jixiang shares had a total revenue of 2.96 billion yuan in the first three quarters of last year, and set a target of not less than 2 billion yuan in revenue from lithium-related business in 2022, which is enough to show that it is optimistic about lithium business.
As soon as the announcement came out, the share price of Jixiang shares was easy to rise rapidly at the start of trading the next day, and as of today, it has set a brilliant record of three boards in four days. After the cumulative deviation of more than 20% in the closing price for three consecutive trading days on March 22, 23 and 24, Jixiang issued an announcement of abnormal fluctuations in stock trading, which mentioned that the company's acquisition of 100% stake in Yongshan Lithium was completed on January 25, 2022. However, Jixiang stressed that the Yongshan lithium industry is still under construction and is expected to be put into production by the end of June 2022. The company said that there is uncertainty about the future operating income and profit of Yongshan lithium industry, and there is uncertainty about the impact of Yongshan lithium industry on the company's operating income and profit after this transaction.
Apart from the above hints, there are no significant matters in Jixiang shares that should be disclosed but not disclosed.
However, even though the announcement has been issued, the enthusiasm of investors for Jixiang shares has not abated, and Jixiang shares rose again after a brief decline in trading today.
According to public data, Jinzhou Jixiang Molybdenum Industry Co., Ltd. is a large domestic molybdenum industry enterprise, which is mainly engaged in the production, processing and sales of molybdenum series products such as molybdenum furnace charge, molybdenum chemical industry, molybdenum metal and so on. With regard to this cross-border layout of lithium-related business, Jixiang shares explained, "in recent years, downstream industries such as new energy vehicles have developed rapidly, with sufficient financial support and professional operation and management of the company. The target company will have good development prospects.
It is reported that battery-grade / industrial-grade lithium carbonate and lithium hydroxide mainly produced by Yongshan in Hunan are the main raw materials of cathode materials for lithium batteries, and downstream applications include power batteries and energy storage batteries.
In fact, in this almost default "lithium will rise" at the moment, Jixiang shares will achieve such a result is not surprising. Recently, many lithium industry chain enterprises have issued their own 2021 performance reports, most of them have achieved good results. Among them, the net profit of Nord shares, which is mainly engaged in lithium electricity copper foil business, soared by more than 7409% compared with the same period last year. The net profit of Lithium Power duo Ganfeng Lithium and Tianzhi shares also soared by more than 300%. SMM sorted out the performance of 15 lithium industry chain enterprises in 2021 and the performance forecasts of some enterprises in the first quarter of 2022. You can click "Lithium performance in 2021"! Raw materials soar under the enterprise has both joys and sorrows [SMM topic] "View."
However, it is worth mentioning that after the Ministry of Industry and Information Technology released the news about the stable price of lithium resources, the price of lithium salt has stabilized for many days in a row. According to the spot price of SMM, as of March 25, the average spot price of domestic battery-grade lithium carbonate was 503000 yuan / ton, which has remained stable for the eighth consecutive trading day; the average spot price of battery-grade lithium hydroxide was 491500 yuan / ton, and the price has been stable for many days.
So apart from the policy factors, what is the performance of the supply and demand fundamentals of lithium salt?
According to the latest SMM research, lithium carbonate supply continues to pick up and some traders dump goods, resulting in an increase in lithium carbonate supply and market circulation; on the demand side, the downstream iron-lithium game continues, ternary materials are also affected by nickel prices, orders in April have downside risks, and the demand for lithium carbonate is expected to show a small increase. This week, some manufacturers made purchases for April orders, but it was not time for centralized purchases.
On the price, the upstream bid may be loose, but the quotation is not significantly reduced, the downstream wait-and-see state continues, and the price of lithium carbonate is stable.
As for lithium hydroxide, the supply of low-level overlay manufacturers are mainly long single delivery, lithium hydroxide spot supply is tight. On the demand side, due to the uncertainty of the April order, the downstream material factory has not yet made a batch purchase action, and the purchase expectation is negative. In terms of price, although it is under the fundamentals of going to the warehouse, the overall increase of lithium hydroxide slows down slightly due to the influence of the price of lithium carbonate. "View details
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