6 days and 5 Nights "lithium war" ended, and the shortage of lithium resources became more and more prominent
2022-05-23
From 3.35 million yuan to 2 billion yuan, the equity auction of snowway mining ended, and the "lithium competition" that lasted for 6 days and 5 nights finally came to an end. The bidding price has reached nearly 600 times the starting price. For this day's price, market participants call it "Crazy". Jingdong auction platform information shows that at 7:48 on May 21, the buyer of 54.29% equity of snowway mining was Tan Wei. Who is the mysterious buyer Tan Wei? Is it related to the "GCL series" with high market voice? "The buyer in the confirmation of auction transaction is his real name. The ID card number and JD account number are not completely displayed, but only part of the content is displayed. After the auction is successfully won, the JD platform will charge a technical service fee of 0.5% of the transaction price, and the upper limit of a single subject's technical service fee is 500000 yuan." On May 22, the customer service staff of Jingdong auction platform told the reporter of Securities Daily. In addition, the reporter of Securities Daily also learned that "GCL series" company also participated in the auction. Previously, many voices in the market believed that GCL series company might become the winner of the auction. On May 22, the reporter called GCL energy, and the relevant staff of the company told the reporter, "the company is in the process of verification, and the confirmation will be replied as soon as possible." But as of press time, the reporter did not receive a reply from the company. "Lithium war" attracted millions of onlookers From May 16 to May 21, the equity auction of snowway mining attracted 21 bidders, with a total of 3448 bids and nearly one million people watching. The scene is spectacular. "A transaction process will be agreed in the bidding announcement, including how the other party will pay the remaining amount, equity change registration, etc." Lawyer Wang Zhibin of Shanghai Minglun law firm said in an interview with the reporter of Securities Daily. According to the bidding announcement, after the bidding is completed, the deposit originally locked by the bidder of the subject matter will be automatically transferred to the account designated by the manager. The buyer shall pay the balance of the bidding transaction price (the balance after deducting the deposit) to the account designated by the Manager Chengdu Xingneng new materials Co., Ltd. within 7 working days from the time of transaction. If it is overdue, it will be deemed as the buyer's breach of contract, and the bidding deposit will not be returned. "After the auction, if the bidder does not pay the bidding price, the deposit will not be refunded. The corresponding subject matter manager can bid again." Wang Zhibin told reporters. However, the auction price of snowway mining's equity of 2 billion yuan was considered "more expensive" by insiders. Zeng Zhiqin, an analyst at Northeast Securities, said that based on the auction price of 2 billion yuan, the purchase price of a single ton of LCE in this transaction is about 5080 yuan. However, considering that the transaction commission is 60 million yuan and the debt corresponding to 54.3% equity is 870 million yuan, the actual auction cost is 2.93 billion yuan. If calculated according to this cost, the purchase price of single ton LCE is about 7443 yuan, which is significantly higher than that of other lithium mines in the industry. Previously, in May 2022, GuoXuan high tech acquired Yifeng lithium mine for about 1024 yuan per ton of LCE, and Ganfeng lithium acquired songshugangtan niobium mine for about 719 yuan; In March 2022, Guocheng Group acquired dangba lithium mine for about 996 yuan; In May 2021, Shengxin lithium energy purchased Murong lithium mine for about 524 yuan. "The reason why lithium ore has been robbed is mainly due to the very high price rise of lithium ore in recent years, which has caused great cost pressure on battery suppliers and affected their profitability." Zhang Xiang, President of the New Energy Vehicle Technology Research Institute of Jiangxi new energy technology vocational college, told the Securities Daily that the rapid development of the new energy vehicle industry has made the battery company popular with investors, and the company's cash flow is also very abundant. It has the capital and ability to purchase the upstream lithium mine. For example, companies such as Ningde times and GuoXuan high tech have obvious advantages in extending the industrial chain to upstream lithium mines. Zhang Xiaorong, President of deep science and Technology Research Institute, also told the reporter of Securities Daily that in the past two years, the new energy industry has developed rapidly, the market demand for lithium ore has soared, and the price of lithium ore has been rising. In the eyes of many people, owning lithium ore is equivalent to owning a "treasure house", which has triggered the crazy robbery of snowway mining's equity. However, there is extremely irrational speculation in the auction process, resulting in the auction price greatly exceeding the market expectation. The scarcity of lithium resources has become an industrial consensus It is worth mentioning that in this auction, "GCL" company has always been considered highly competitive. The reason is that at present, "GCL" owns 99% of the creditor's rights and 43% of the equity of snowway mining. According to the reporter of Securities Daily, GCL related companies also participated in this auction. Behind its participation in the lithium race is the firm layout of the lithium battery track. Huang Yueyuan, deputy general manager of GCL energy investment, a listed company of "GCL series", said in an institutional survey earlier, "The company actively responded to the national 'double carbon' strategic deployment and quickly cut into the track of mobile energy. One of the important tasks is to expand the business of lithium battery resources and materials and ensure the supply of strategic, scarce, lithium, phosphorus and other resources. Our purpose is to solve the reliable supply demand of batteries and upstream materials for large-scale power plant operation, reduce costs, improve market competitiveness, and promote the rapid and steady development of mobile energy business The development of. " The auction of snowway mining equity has attracted such high attention because the shortage of lithium resources has become increasingly prominent with the development of new energy vehicle industry. On May 20, Yichun GuoXuan Mining Co., Ltd., a subsidiary of GuoXuan Hi Tech Holding Co., Ltd., successfully won the general survey and exploration right of porcelain clay (including lithium) in Shuinan ore section of Keshili mining area, Yifeng County, Jiangxi Province with a quotation of 460 million yuan. This is the second exploration right obtained by GuoXuan high tech in Jiangxi. GuoXuan high tech said that the acquisition of the exploration right of Shuinan mine section (including lithium) in Yifeng County by Yichun GuoXuan mining is an important measure for the layout of the whole industrial chain of GuoXuan high tech, which is conducive to stabilizing the supply of lithium carbonate, reducing procurement costs, consolidating the company's market position in the power lithium battery industry, and in line with the company's strategic development positioning and needs. The reporter of Securities Daily noted that many listed companies such as Jinyuan Co., Ltd., western mining, China mining resources and Ningde times have actively obtained lithium resources through acquisition and shareholding. Zeng Zhiqin believes that the scarcity of lithium resources has become an industrial consensus, which has opened up the imagination space of lithium price. Under the background of high price, the competition for lithium resources in the industrial chain is not weak but strong. Behind this lies the industry's judgment on the normalization of lithium resource shortage. Further, lithium resources may be the key factor determining the final pattern of the industry. In this context, once there is a shortage in the industry, the price of lithium may increase exponentially like the price of oil. "Downward safety margin thickening + upward elasticity fully opened", lithium as a "white oil" in the new era may usher in a major value revaluation. Cheng Ling, an analyst at xinlune information, told the Securities Daily, "in the long run, the competition in the lithium battery industry chain is the competition between the chain and the chain. The advantage should be that the power battery factory at the head directly takes the best ore, and the final competition is the product competitiveness of the C-end. While other types of enterprises can only earn processing fees under full competition." (Xinhua News Agency)
Edit：He Chuanning Responsible editor：Su Suiyue
Source：Securities Daily
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