Salt Lake Shares have been known as the first share of Salt Lake Resources, which is prepared for market attention, and stands on the A stock market 2017 lithium-ion battery concept.. However, it is unexpected that even if the rich salt lake lithium resources, in 2017, the price rose sharply, the company has handed an over 41 billion, and the performance of 1300%.
. And at the same time, the gross profit margin, the net asset yield (ROE) has a large landslide..
In fact, the important business of Salt Lake shares is to produce potassium-fertilizable raw potassium chloride, salt lake, lithium, as of now, is only a secondary industry.. Salt Lake Co.
, Ltd. even produced lithium carbonate, Qinghai Salt Lake Buddha, Blue Bai Lithium-Industry Co., Ltd.
(hereinafter referred to as “Blutern Lithium Lithium Lithium Industry”), but the overall performance contributed to its overall performance. At the moment, the Salt Lake Shares are beginning to expand the lithium carbonate production line. In the next few years, it will increase the production of lithium carbonate in BYD, which is expected to expand from the current close 10,000 tons to 60,000 tons, and the production of lithium carbonate.
There will be significant improvement. The fund manager of a heavy lithium resource stock in Shanghai said that many companies involving salt lake lithium technology and equipment have been successively available, indicating that the supply of industrial grade carbonate from the lithium lithium in the future will be in the future There have been substantially improved years; otherwise considering the expansion of overseas mining, the balance of supply and demand in global carbonate will appear soon. Since this year, industrial grade carbonate prices have fallen significantly.
If the performance increments brought by lithium carbonate are not expected, the “face” of Salt Lake shares can improve whether the Salt Lake shares can improve,. More than 41 billion March 31, 2018, Yanhu Shares announced annual report show that in 2017, the business income is 11.699 billion yuan, an increase of 12.
88% from the previous year, and the net profit belonging to the shareholders of listed companies – 4.159 billion yuan, more The same period of the same period was down -1318.77%; the net cash flow in business activities was 1.
518 billion yuan, down 25.16% from the same period last year..
The loss of 4.159 billion yuan allowed the Salt Lake shares in the Shanghai and Shenzhen two cities in 2017, the fifth place (company has announced annual performance companies), the top of it is LeTV, * ST oil clothes, ST Baoli, Hubei Yihua, in which LeTV last year’s loss reached 11.6 billion yuan.
. About a company in a city value of less than 40 billion, the loss of 4.159 billion yuan is obviously amazing.
As of April 18, 2018, the market value of Salt Lake has been 35.5 billion yuan, and the market value of 38.73 billion yuan at the end of 2017 is more than 8%.
. However, the loss of the loss seems to be deteriorated. The results of the results show that the amount of Salt Lake shares in the first quarter of 268 million yuan to 280 million, slightly higher than the loss of 2646.
5 million yuan last year.. What happened to Salt Lake? Once, it was crazy as one of the lithium-ion battery faucet stocks.
. On June 2, 2017, the minimum of 9.21 yuan in the Salt Lake Shares, the stock price rose to 20.
68 yuan after a short more than 3 months, and the increase is approximately 1.25 times..
At this time, the industrial carbonate does not respond, and the price has set off a substantial rebound after the bottom October 2016. As of the end of 2017, the average price of the year from 110,000 yuan, up to 160,000 yuan per ton, and the increase of 50%. In 2017, Salt Lake Lithium Lithium The business began to be realistic.
. Behind the Salt Lake Shares is behind the lithium resource of Qinghai Char Khan Salt Lake, which is extremely developed value..
In 2017, Yan Lake Shares as the first share of Salt Lake Resources once and Tianqi Lithium Industry, and the “lithium-ore” “lithium-ore” and drove, this time is a lithium-resource stock collective time, Tianqi lithium industry and other lithium mining stocks The same is doubled. According to statistics, the world has identified is about 40.99 million tons.
It is important to distribute in South America and Asia from distribution, accounting for 70% of the total, and my country’s reserves are about 5.7 million tons, accounting for 14 global 14. %, Of which 85% are salt lake resources, 15% are ore resources.
my country’s lithium salt lake resources are important in Qinghai and Tibet, and there are about 80% of Lithium resource reserves in two-earthquate lake account for about 80% of the total reserves of the country.. Due to the restrictions on Tibet weather, climate, transportation and other conditions, the development cost and risk is higher, domestic companies are more willing to develop in Yanke Lake, Qinghai.
. The lithium resource reserves of Char Khan Salt Lake are the largest in the brinent lake in Qinghai, and the “200,000 tons / year”. Salt Lake Shares Holdings 51.
42% of Bluke Lithium Ligrants have mastered the mining rights of Purh Khan Salt Lake, which uses ion adsorption exchange methods for local conditions.. As of December 25, 2017, the production of lithium carbonate in Blue Bokai was 7759 tons.
. In 2017, the price of lithium carbonate has increased, and the income of the Lithium Lithium Lithium. This year, the Lithium Lithium Litral Profit is a leap, from 135 million yuan in the previous year to 420 million yuan.
. More years before this, the Lithium-Lithium Lithium Ligration has lost 130 million yuan in the three years of 2013 – 2015, 92 million yuan and 33.45 million yuan.
. In 2017, Salt Lake shares have more than 4 billion, and it has been expanded in the first quarter of this year..
Salt Lake Shares explained that there is an important reason for the loss of losses. It is: In the middle, the PVC, caustic, cement, etc. of the market is not produced, and related rectification investment, leading to the number of losses; the supply of coal and natural gas causing the chemical device to be full of load; sea, metal magnesium, etc.
The project has a large-scale transfer of cost. Salt Lake Lithium Results Contribution Co., Ltd.
. In fact, from the main income of Salt Lake Shares, Salt Lake Shares is important to produce and sales business in agricultural sorcereous potassium chloride and chemical products. In 2017, 11.
69 billion yuan in business income, potassium chloride business contributed 5.9165 billion yuan. , Accounting for 50.
57%; the second largest income is the comprehensive utilization of chemical products in Salt Lake resources. Last year, the income is 1.76 billion yuan, accounting for 15.
09%; the Salt Lake shares are widely concerned by the market, which has a large amount of lithium carbonate business last year. The revenue of 744 million yuan, the proportion of operating income is increased from 2.99% year-old to 6.
36%, but the proportion of the entire performance contribution is still small.. It has been reported that Yanhu stock is a domestic potash leader, with 5 million tons / annual chloride production.
In recent years, the company’s operating income has been stable, and the net profit has declined. It is important because in 2011, the price of potassium fertilizer has continued to fall. Although the company has added sales volume and opening up other business to maintain business income, net profit is affected by the net profit Bigger.
This year, the metal magnesium project is in the state of testing, depreciation amortization and high financial expenses. In addition, Haina Chemical has not recovered from the third quarter of the third quarter, and there is also a big impact on its performance..
While Salt Lake Shares, the gross profit margin representing the product competitiveness also has a substantial decline in salt.. From 2015 to 2017, the gross profit margin of Lake Shares has declined significantly, 52.
29%, 42.68%, 33.52%, respectively.
. And its asset profitability is also landslide, and the net asset yield of three years (weighted) is 3.13%, 1.
44%, – 17.34%..
From the perspective of the past three years, the fundamental surface of Salt Lake Shares has deteriorated. As a response, Salt Lake shares are also looking for breakthroughs in performance..
The company and the BYD joint venture company’s 30,000-ton battery-level carbonate project, the new 20,000-ton battery-grade carbonate project, which has been added, investing nearly 8 billion yuan, and it is expected that the construction period is about 1 year and a half, and the Blue Brace At the production of nearly 10,000 tons of lithium carbonate production, the production of lithium carbonate in Salt Lake Shares will reach 60,000 tons of annual production.. On December 27, 2017, Yanhu Shares announced that 50,000 tons / annual battery-level carbonate project has obtained the record notice of the Qinghai Provincial Economic and Information Commission.
However, as a cycle stock, the lithium carbonate is under subtle change. According to the statistics of the business society, the price of lithium carbonate has fallen this year. The price of the industrial-grade carbonate producer has been 157,400 yuan / ton on January 19, and the price arrived at 145,200 yuan / ton of April 18th.
The price reduction is 7.76%. After the rush of lithium carbonate is back, it is the change in supply and demand in the next few years.
. In recent years, it is consistent with Salt Les to lithium the lithium, and the world’s important lithium mining areas are actively expanded from lithium production..
Morgan Stanley expects that due to the expansion of lithium production, 2017 to 2025, the supply of lithium supply will rise at 16% per year, while the demand of the same period is only 12% per year.. In the end, 2018 will be the last year of the global lithium market in short supply, the lithium market after 2019 will appear excessive conditions.
. As a small metal carbonate supply, the change will undoubtedly affect its price trend..
After the lithium production of salt lakes, if the price reduction cycle is encountered, the company’s performance contribution will gradually decrease.. In any case, as of now, Salt Lake Shares contributes big heads still the first large business potassium chloride.
Since this year, the market of potassium chloride has emerged.. A type of excellent product potassium chlorinated domestic producer prices rose from 2100 yuan / ton in January 19 to 2275 yuan / ton, and the price rose by 8.
33%.. The price of Salt Lake Shares is slightly high, 2,300 yuan / ton.
According to industry, the global potash fell in the 2013 industry union, and the relevant leader has fallen into a sluggish, and the price of potash fell by 50% to $ 200 / ton.. After more than 4 years, the output is stable, and the demand end maintains 3% annual growth rate.
. In addition, the global economic recovery, the increase in oil prices, the bottom of the food price rebound, helps to further enhance potash demand.