On March 8, 2023, Zangge Mining announced that its wholly-owned subsidiary, Jiangsu Zangqing New Energy Industry Development Fund Partnership, which holds 47.08% of the shares, intends to purchase a 34% stake in Tibet Guoneng Mining Development Co., Ltd. for 4.08 billion yuan in cash. , and together with other shareholders of Guoneng Mining, invest in the development of mineral resources in the Jiezechaka Salt Lake Mining Area and Longmu Co Salt Lake Mining Area of Guoneng Mining, and then obtain investment income.

The announcement shows that Guoneng Mining holds the mining rights of Tibet Guoneng Mining Development Co., Ltd. Ritu County Jiezechaka Salt Lake Mining Area, and holds the mining rights of Tibet Guoneng Mining Development Co., Ltd. Ritu County Songxi District Longmu Co Salt Lake Mining Area. At the same time, it holds 100% equity of Tibet Longhui Mining Co., Ltd. and 100% equity of Jinchang North Guoneng Lithium Industry Co., Ltd.

Zangge Mining said that the equity transfer price of the industrial development fund’s foreign investment is based on the two mining areas of Jiezechaka Salt Lake and Longmu Co Salt Lake held by the target company, and the target company’s industry. The development prospect and the specific actual situation of the target company shall be negotiated and determined.

It is understood that Zangge Mining Investment, a wholly-owned subsidiary of Zangge Mining, signed the "Jiangsu Zangqing New Energy Industry Development Fund Partnership Partnership Agreement" with Wuxi Tuohai Equity Investment Fund Management Co., Ltd. and other partners on October 22, 2021. Zangge Mining Investment used its own monetary funds of 2.5 billion yuan to subscribe for the partnership share of the Tibetan Blue Fund, and the subscribed capital accounted for about 47.08% of the total share of the fund, becoming one of the limited partners of the Tibetan Blue Fund.

The announcement shows that the Jiezechaka Salt Lake and Longmu Co Salt Lake two mining areas invested by the industry fund this time contain rich mineral resources such as lithium and boron; according to the strategic cooperation agreement, the company also has the priority to acquire 34% of the equity of Guoneng Mining .

Li Ruixue, Secretary of the Board of Directors of Zangge Mining, told the "Securities Daily" reporter that this investment will provide support for the company's acquisition of resources in the salt lake and the expansion of its main business, which will help the company continue to expand its lithium carbonate production capacity and contribute to the company's long-term development. will have a positive impact.

The current main business of Zangge Mining is the production and sales of salt lake potash fertilizer and lithium carbonate. It is located in the upstream of the lithium battery new energy industry chain. It is the only salt lake mineral in the world that has broken through the extraction of lithium from ultra-low concentration salt lake brine and realized industrialization. resource development company.

It is worth mentioning that since last year, due to the continuous high-booming development of new energy vehicles, the demand for lithium carbonate has been strong and the price has remained high.

Benefiting from the rise in the price of lithium carbonate, Zangge Mining expects a net profit of RMB 5.63 billion to RMB 5.78 billion in 2022, a year-on-year increase of 294.44% to 304.95%, and basic earnings per share of approximately RMB 3.49 to RMB 3.59 per share.

In 2022, Zangge Mining's 10,000-ton lithium carbonate production line will fully meet production standards, and the production and sales of lithium carbonate will be stable. The output of lithium carbonate will be about 10,500 tons, and the sales volume will be about 10,700 tons. The operating income and profit of the subsidiary Zangge Lithium Industry have increased significantly compared with the same period of the previous year.

Zangge Mining stated on the interactive platform on February 6, 2023 that the company has added a 2,000-ton nanofiltration project on the basis of the 10,000-ton lithium carbonate production line. In 2023, the company is confident in achieving new breakthroughs in lithium carbonate production.

Zangge Mining also mentioned in the institutional research that the company's sales cost per ton of lithium carbonate is controlled at about 30,000 yuan, which has a strong cost advantage.Editor / He Yurong