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Since the rise of lithium iron phosphate battery , the popularity of ternary batteries has dropped sharply. The high-nickel three-yuan route, which was once popular among industries and capital, was once lonely. With the recent release of 4680 batteries and Kirin batteries, and the decline in nickel prices, the cost-effectiveness of high nickel three-yuan is gradually increasing. High nickel ternary, it seems that it will become the focus of the power battery industry again.
htmlOn August 4, the 200,000-ton high-nickel ternary positive electrode project jointly invested by Sifang was exposed. On the evening of the same day, Weiming Environmental Protection (SH603568, stock price 29.35 yuan, market value 49.725 billion yuan) disclosed an announcement stating that the company and Shengtun Mining (SH600711, stock price 7.85 yuan, market value 22.201 billion yuan), Yongqing Technology, and Xinwangda (SZ300207, stock price 29.23 yuan, market value 50.23 billion yuan) signed the "Wenzhou Lithium Battery New Materials Industry Base Project Joint Venture Agreement" for the investment and construction of lithium battery new materials projects. htmlOn August 5, Weiming Environmental Protection opened and quickly fell. rebounded at the end of the trading session, and finally closed at 29.35 yuan per share, down 1.58%. The big moves of, which are jointly organized by the four parties,
, the announcement shows that Weiming Environmental Protection plans to invest in the development and construction of new lithium battery materials projects, including high ice nickel refining, high nickel ternary precursor production, high nickel positive electrode material production and related supporting projects, with an annual output of 200,000 tons of high nickel ternary positive electrode materials, with a total investment of no more than 19.1 billion yuan (of which, the total construction investment is expected to be about 11.5 billion yuan, and the total working capital demand during the operation period after the project reaches full capacity is about 7.6 billion yuan).
announcement shows that Weiming Environmental Protection invested in this project with its own funds of no more than 3.45 billion yuan. The newly established subsidiary of the joint venture, Zhejiang Weiming Shengqing Energy New Materials Co., Ltd. (hereinafter referred to as "Weiming Shengqing"), is responsible for the construction of the project, and the parties to the joint venture will increase their capital in a timely manner according to the progress of the project implementation.
Image source: Announcement screenshot
Weiming Shengqing was established on May 23, 2022 and was established by a joint venture between Weiming Environmental Protection, Shengtun Mining, and Qingshan Holdings . The three-party holds 51%, 30%, and 19% of stake in respectively. In June, Qingshan Holdings transferred its shares in Weiming Shengqing to its holding subsidiary Yongqing Technology.
htmlIn August, the three parties introduced Xinwangda, a power battery manufacturer. According to the announcement of Shengtun Mining on the evening of August 4, Shengtun Mining plans to transfer 9% of Weiming Shengqing's equity to Weiming Environmental Protection, 1% of the equity to Yongqing Technology, and 10% of the equity to Xinwangda. In addition, Shengtun Mining invests in joint venture projects with its own funds of no more than 345 million yuan in accordance with the joint venture agreement and the equity ratio held in the joint venture project. After the transfer ofequity is completed, Weiming Co., Ltd., Yongqing Technology, Shengtun Mining and Xinwangda hold Weiming Shengqing Co., Ltd. 60%, 20%, 10% and 10% respectively. At this point, the "combination" of the four sides was completed. What is the cross-border lithium battery material for
?
Qingshan Holdings is a giant in the global nickel industry chain; Shengtun Mining is mainly engaged in metal smelting and deep processing businesses, including the smelting of nickel and cobalt required for ternary batteries; Xinwangda is a power battery manufacturer.
In contrast, Weiming Environmental Protection is an outsider in the power battery and lithium battery materials industry chain. According to the company's 2021 annual report, its main business covers the entire industrial chain of the urban domestic waste incineration power generation industry.
Regarding why cross-border lithium battery materials were chosen, on the afternoon of August 5, a reporter from " Daily Economic News " called Weiming Environmental Protection, and its staff said: "This is a company's strategic consideration. (Cross-border lithium battery) does not mean that the original business is not done, but both are there." As a cross-border, where does Weiming Environmental Protection's high-nickel ternary positive electrode material come from? The staff member replied: "We have our own technology and we also cooperate with other companies."
Image source: company official website
The above announcement shows that Weiming Environmental Protection is mainly responsible for government communication, financing, technology, etc. For example, including but not limited to assisting the joint venture company in communication with the relevant government departments of Wenzhou City , and assisting in handling related affairs in the Wenzhou area related to the establishment of the joint venture and this project; if the project financing cannot be obtained or the project financing is not fully obtained, the insufficient part will be resolved by Weiming Environmental Protection providing shareholder loans to solve the problem; providing technical and management support to the joint venture company.
In other words, Weiming Environmental Protection needs to provide financing guarantees and if necessary, shareholder loans are required.
The main responsibilities of Yongqing Technology and Shengtun Mining are including but not limited to assisting in handling related affairs in the Wenzhou area related to this project; providing financing guarantees and providing technical and management support to joint ventures.
As for Xinwangda, it will not only provide technical support, but also provide product market. Xinwangda needs to actively support the development of the joint venture company, provide support for product research and development and trial production, and promise to give priority to the procurement of high-nickel ternary cathode material products of the joint venture company when meeting the same quality and market prices.
The impact of this investment, Weiming Environmental Protection believes that the company's cooperation with Yongqing Technology, Shengtun Mining and Xinwangda in the fields of new materials and new energy will help the company strengthen cooperation with new materials industry chain enterprises, actively develop new processes and new technologies in the new energy field, and layout the new energy and new materials industry chain, which will help expand the company's future business development space, increase the company's operating income, and be in line with the company's long-term development strategy.
Daily Economic News
Daily Economic News
