摘要 锂价反弹期，资源并购进入"全产业链博弈"阶段 12月30日晚，锂业资本面再出重磅： 盛新锂能公告拟以20.8亿元现金收购四川启成矿业30%股权，实现对后者的全资控股，随之将四 川雅江木绒锂矿和阿坝观音桥锂矿两块资源收入囊中。 盐湖股份则披露，将以46.05亿元收购五矿盐湖51%股权，一里坪盐湖碳酸锂、磷酸锂、氢氧化 锂及钾肥产能整体并表，控股股东承诺解决同业竞争的锂资源资产基本完成注入。 这两笔合计约66.85亿元的交易，发生在碳酸锂价格突破每吨10万元的时间点。 数据显示，自12月中旬以来，电池级碳酸锂报价快速上行，先后越过9.5万元和10万元关口，背 后既有宜春等地采矿权调整带来的供给扰动，也有储能需求"淡季不淡"的托底。 在价格从底部回升、并购政策窗口打开的阶段，两大锂企同步加码上游资源，为今年本已热络的锂 业整合，再添两块标志性样本。 盛新锂能"二次加码"川西，木绒成核心筹码 盛新锂能此次出价20.8亿元接手启成矿业30%股权，是公司年内第二次针对同一标的出手。 今年9月，盛新锂能刚以14.56亿元收购启成矿业21%股权；两次交易叠加，公司为这一资产累计 支付金额已超过35亿元。 按最新对价推算 ...

Group 1: Salt Lake Co. and Tianqi Materials - Salt Lake Co. expects a net profit of 8.29 billion to 8.89 billion RMB for 2025, representing a year-on-year growth of 77.78% to 90.65% [1] - The company reported a potassium chloride production of approximately 4.9 million tons and a sales volume of about 3.8143 million tons, with a price increase in potassium chloride products compared to the previous year [2] - Tianqi Materials anticipates a net profit of 1.1 billion to 1.6 billion RMB for 2025, with a growth range of 127.31% to 230.63%, driven by the increasing demand in the new energy vehicle and energy storage markets [3][4] Group 2: Huahong and Other IPOs - Huahong plans to acquire 97.5% of Huali Micro's shares for a total transaction price of 8.268 billion RMB, enhancing its 12-inch wafer foundry capacity [5][6] - Zhejiang Huasheng Radar's IPO has been accepted, aiming to raise 1.15 billion RMB for advanced radar manufacturing and research projects [7] - Guangdong Zhongtu Semiconductor's IPO has been accepted, with plans to raise 1.05 billion RMB for projects related to LED chip substrate manufacturing [8] Group 3: Financial Performance Forecasts - Hualing Steel expects a net profit of 2.6 billion to 3 billion RMB for 2025, reflecting a growth of 27.97% to 47.66% [28] - Guangku Technology forecasts a net profit of 169 million to 182 million RMB for 2025, indicating a growth of 152% to 172% [31] - Kid King anticipates a net profit of 275 million to 330 million RMB for 2025, representing a growth of 51.72% to 82.06% [32] Group 4: Mergers and Acquisitions - Helen Zhe plans to acquire 51% of Hubei Ji'an Shield Fire Technology for 739.5 million RMB, focusing on high-safety applications in various sectors [13] - Yachuang Electronics intends to purchase 40% of Ouchuangxin and 45% of Yihainengda, with a total transaction price of 317 million RMB [14] Group 5: Regulatory and Compliance Updates - Zhejiang Wen Interconnect received a regulatory warning from the Shanghai Stock Exchange for failing to disclose related party transactions [15] - Bixing Technology was also warned for incomplete meeting records and improper management of insider information [16]

Core Viewpoint - Salt Lake Potash Co., Ltd. (000792.SZ) forecasts a net profit attributable to shareholders for the year 2025 between 8.29 billion to 8.89 billion yuan, representing a year-on-year growth of 77.78% to 90.65% [1] Group 1: Financial Performance - The company's net profit, excluding non-recurring gains and losses, is expected to be between 8.23 billion to 8.83 billion yuan, reflecting a year-on-year increase of 87.02% to 100.66% [1] - The main business remains stable, with potash production of approximately 4.9 million tons and sales of about 3.8143 million tons; lithium carbonate production is around 46,500 tons with sales of about 45,600 tons; combined production of potassium products (potassium hydroxide and potassium carbonate) is approximately 382,200 tons with sales of about 388,900 tons [1] Group 2: Market Conditions - The price of potash products has increased compared to the same period last year, while lithium carbonate prices have shown significant volatility but have gradually recovered in the second half of the year, contributing to the overall growth in the company's performance [1] Group 3: Technological Advancements - The company has successfully passed the high-tech enterprise qualification review due to continuous technological breakthroughs in the comprehensive utilization of salt lake resources, stable R&D investment, and outstanding innovative achievements [1] - As a result of relevant regulations, the company will recognize deferred tax assets for deductible temporary differences at the end of the year, leading to an increase in net profit [1]

Core Viewpoint - Salt Lake Potash Co., Ltd. (000792.SZ) expects a significant increase in net profit for the fiscal year 2025, projecting a range of 8.29 billion to 8.89 billion yuan, representing a year-on-year growth of 77.78% to 90.65% [1] Financial Performance - The company anticipates a net profit attributable to shareholders of 8.23 billion to 8.83 billion yuan after deducting non-recurring gains and losses, indicating a year-on-year increase of 87.02% to 100.66% [1] - The main business remains robust, with potassium chloride production at approximately 4.9 million tons and sales around 3.8143 million tons; lithium carbonate production is about 46,500 tons with sales of approximately 45,600 tons; combined production of potassium products (potassium hydroxide and potassium carbonate) is around 382,200 tons, with sales of about 388,900 tons [1] Market Conditions - The price of potassium chloride products has increased compared to the same period last year, while lithium carbonate prices have experienced significant fluctuations but showed signs of recovery in the second half of the year, contributing to the overall growth in company performance [1] Technological Advancements - The company has successfully passed the high-tech enterprise qualification review due to continuous technological breakthroughs in the comprehensive utilization of salt lake resources, stable R&D investment, and outstanding innovation achievements [1] - As a result of relevant regulations, the company will recognize deferred tax assets for deductible temporary differences at the end of the fiscal year, leading to an increase in net profit [1]

Group 1 - The company, Salt Lake Co., Ltd., has released its performance forecast for the year 2025, expecting a net profit attributable to shareholders of 8.29 billion to 8.89 billion yuan, which represents a year-on-year growth of 77.78% to 90.65% [1]

Core Viewpoint - The lithium resource acquisition market is heating up, with significant transactions indicating increased confidence in the industry's future prospects following a rebound in lithium prices in Q4 2023 [2][10]. Group 1: Recent Acquisitions - Salt Lake Co. plans to acquire a 51% stake in Minmetals Salt Lake for 4.605 billion yuan, which will include the Qinghai Yiliping salt lake resources in its consolidated financial statements [2][4]. - Shengxin Lithium Energy announced a 2.08 billion yuan acquisition of the remaining 30% stake in Qicheng Mining, increasing its ownership in the Chuanxi Muzhong lithium mine [2]. - The recent trend shows a shift from "low-cost expansion" to "premium acquisition" in lithium salt acquisitions, with significant valuation increases [2][11]. Group 2: Industry Outlook - The confidence in the industry's future is reflected in the active merger and acquisition activities among lithium salt companies [3][10]. - Salt Lake Co. aims to resolve competition issues with Minmetals Salt Lake and enhance its market influence and production scale through this acquisition [4][6]. Group 3: Production Capacity - After the acquisition, Salt Lake Co.'s lithium salt comprehensive production capacity will reach 9.8 million tons per year, positioning it among the top tier of domestic lithium salt companies [5][6]. - The projected lithium salt equity capacity for Salt Lake Co. is expected to increase significantly from around 20,000 tons in 2023 to approximately 69,000 tons by 2026 [6]. Group 4: Financial Performance - The acquisition of Minmetals Salt Lake is expected to enhance Salt Lake Co.'s financial performance, with Minmetals Salt Lake projected to generate net profits of 669 million yuan in 2024 and 316 million yuan in the first eight months of 2025 [8][9]. - The valuation of Minmetals Salt Lake has increased significantly, with an estimated value of 90.29 billion yuan, reflecting a 352.42% increase over its book value [11][12].

青海竞帆律师事务所 关于青海盐湖工业股份有限公司 2025 年 第三次临时股东会之 法律意见书 Jingfan China,810001 青 海 竞 帆 律 师 事 务 所 青海竞帆律师事务所 关于青海盐湖工业股份有限公司 2025 年 第三次临时股东会的法律意见书 | | | 青海竞帆律师事务所 股东会法律意见书 （2025）青竞律（非诉）字第（4464）号 致：青海盐湖工业股份有限公司 青海竞帆律师事务所（以下简称"本所"）接受青海盐 湖工业股份有限公司（以下简称"公司"）的委托，指派王 占瑾、安蕊律师（以下简称"本所律师"）出席公司召开的 2025 年第三次临时股东会（以下简称"本次股东会"）。本 所及经办律师依据《公司法》、《证券法》、《上市公司股 东会规则》（以下简称《股东会规则》）、《律师事务所从 事证券法律业务管理办法》、《律师事务所证券法律业务执 业规则》、《青海盐湖工业股份有限公司章程》（以下简称 《公司章程》）等规定以及本法律意见书出具日以前已经发 生或者存在的事实，严格履行了法定职责，遵循了勤勉尽责 和诚实信用原则，进行了充分的核查验证，保证本法律意见 所认定的事实真实、准确、完整，所发 ...

证券代码：000792 证券简称：盐湖股份 公告编号：2025-066 青海盐湖工业股份有限公司 2025 年第三次临时股东会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 1.本次股东会未出现否决议案的情形。 2.本次股东会未涉及变更以往股东会已通过的决议。 3.召开方式：本次股东会采取现场投票、网络投票相结合的方式 4.召集人：公司九届董事会 5.主持人：公司董事长侯昭飞先生、副董事长张铁华先生因工作原因无法现 场参会，根据《公司章程》第七十七条规定，经半数以上董事选举由陈斌先生主持 本次会议。 6.本次股东会的召集、召开符合《公司法》、《公司章程》及《上市公司股东 会规则》的有关规定。 二、会议出席情况 出席本次股东会的股东（及代理人）共 1,459 人，代表股份 1,814,974,955 股， 占公司有表决权股份总数的 34.2993％。其中： 1.出席本次股东会现场会议的股东（及代理人）共 3 人，代表股份 681,619,895 股，占公司有表决权股份总数的 12.8812%； 2.通过深圳证券交易所交易系统和互联网投票系统 ...

2025 年度业绩预告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 一、本期业绩预计情况 1、业绩预告期间：2025 年 1 月 1 日至 2025 年 12 月 31 日。 证券代码：000792 证券简称：盐湖股份 公告编号：2025-067 青海盐湖工业股份有限公司 三、业绩变动原因说明 （一）报告期，公司主营业务保持稳健，氯化钾产量约 490 万吨，销量约 381.43 万吨；碳酸锂产量约 4.65 万吨，销量约 4.56 万吨；两钾（氢氧化钾、碳 酸钾）合计产量约 38.22 万吨，销量约 38.89 万吨。报告期内，氯化钾产品价格 较上年同期有所上升，碳酸锂产品价格虽波动较大，但下半年逐步回暖，整体 带动公司业绩同比实现增长。 （二）近日，公司凭借在盐湖资源综合利用领域的持续技术突破、稳定的 研发投入力度及突出的创新成果，顺利通过高新技术企业资格复审。依据《企 业会计准则第 18 号——所得税》的相关规定，公司在本年度末对可抵扣暂时性 差异确认递延所得税资产，导致公司净利润增加。 四、风险提示 本次业绩预告是公司财务部的初步估算，未经审计，具体 ...

Group 1 - Fenglong Co., Ltd. has no plans for restructuring or listing through the company in the next 36 months [1] - Wu Zhi Electromechanical's business in robotics and commercial aerospace accounts for approximately 1% of its main business revenue [1] Group 2 - Zhongse Co., Ltd.'s subsidiary plans to invest in a lead-zinc mining expansion project with a capacity of 1.65 million tons per year [1] - Tianyuan Co., Ltd.'s subsidiary intends to invest in a project to produce 100,000 tons of titanium dioxide via chlorination [1] Group 3 - Zhejiang Construction Investment's subsidiary signed a construction contract worth 1.8 billion yuan [1] - Jinpan Technology signed a contract worth approximately 696 million yuan for a data center project [1] - Shensi Electronics won a bid for the construction of low-altitude support facilities for the Jinan digital low-altitude flight management service platform [1] Group 4 - Yalake Co., Ltd. plans to acquire a 51% stake in Wukuang Salt Lake [1] - Shengxin Lithium Energy's subsidiary intends to acquire a 30% stake in Qicheng Mining [1] - Jiete Biological plans to acquire 70% of Jieke Membrane for 7.9199 million yuan [1] Group 5 - Baili Tianheng plans to repurchase shares worth 100 million to 200 million yuan [2] - Zhongju Gaoxin intends to repurchase shares worth 300 million to 600 million yuan [2] - Jiete Biological plans to repurchase shares worth 15 million to 30 million yuan [1][2] Group 6 - Zijin Mining expects a net profit increase of approximately 59% to 62% for the year 2025 [2] - Zongheng Co., Ltd. plans to raise no more than 548 million yuan through a private placement [2]