Financial Data and Key Indicators Changes - Recent product prices have decreased from 105,000 yuan to 95,000 yuan, significantly impacting the company's financial performance [1] - The company faced a substantial tax payment of approximately 665 million yuan, with resource tax accounting for about 320 million yuan, affecting net profit by approximately 2.323 billion yuan [1][3] - The company plans to utilize capital reserves to cover a loss of about 20 billion yuan in preparation for future dividends [1] Production and Sales Situation - The San Duo lithium salt project is expected to be completed by the end of the year, with a planned capacity of 80,000 tons and a ramp-up period of about three months [2] - Production costs for lithium carbonate and potassium fertilizer are expected to decrease in the second quarter compared to the second half of last year [2] Tax and Compliance Situation - The company will continue to be subject to resource tax, which is based on a 15% rate applied to brine transactions [3] - The average price of lithium products in the second quarter is approximately 100,000 yuan, with no significant change in costs compared to the first quarter [3][6] Other Operational Information - The company has made environmental investments last year but will not have large-scale expenditures this year, only normal maintenance costs [4] - The company is pursuing an "outward" strategy, exploring mineral resources in Southeast Asia and Africa, with plans to develop overseas resources in partnership with local entities [4] - The company is in communication with BYD regarding the 30,000-ton project, which is currently undergoing technical adjustments [4] Management Comments on Operating Environment and Future Outlook - Management indicated that the tax payment is a one-time event covering the years 2021, 2022, and 2023, and will not affect future costs significantly [5][8] - The company expects stable prices for potassium fertilizer in the future, despite current low prices, due to domestic resource reserves and supply constraints [5][10] Other Important Information - The company has sufficient capital reserves and cash to support dividends, pending regulatory approval for specific dividend details [3][5] - The total investment for the 40,000-ton lithium salt project is close to 3 billion yuan, with a total budget of approximately 6 billion yuan [5][10] Q&A Session Summary Question: What are the production cost expectations for lithium carbonate and potassium fertilizer in Q2? - The company expects production costs to decrease due to increased output and economies of scale [5] Question: What is the expected timeline for the new lithium salt production capacity? - The main facilities are planned to be completed by the end of the year, with a ramp-up period of about three months expected in the following year [5] Question: Will the company incur further tax payments after the recent adjustments? - The recent tax payments are one-time adjustments, and future costs will be based on market prices [8] Question: What is the company's strategy regarding overseas resource development? - The company is actively seeking mineral resources in Southeast Asia and Africa, planning to develop these resources with partners if exploration results are favorable [10] Question: What is the expected price trend for potassium fertilizer? - The company anticipates a gradual recovery in potassium fertilizer prices, with current prices expected to stabilize [10]

业绩预告解读会目前所有参会者均处于静音状态下面开始播报声明本次会议仅服务于邀请参会的广大投资者会议音频及文字记录内容仅供参会者内部使用不得公开发布延护股份未授权任何媒体转发本次会议相关内容未均允许和授权的传载转发居属侵权延护股份将保留追究其法律责任的权利延护股份不存在因传载转发而产生的任何损失和责任 市场有风险投资时谨慎提醒广大投资者谨慎做出投资决策在会议开始前我们提示各位投资者在主讲嘉宾翻译结束后将留有提问时间接下来有请公司领导发言谢谢大家好我是盐股份公司董事公秘书财务负责人李双很荣幸今天早上对昨天 晚间我们提交的半年多的一级一告做一个简单的解读我想简单的把上半年的一些情况做一个传授后面有各位的组织机构这样的有什么疑问的时候我们在互动环节再交流整体上上半年的一级情况昨天晚上也发了一级一告 我们的业绩的盈利期间是在17个亿和23个亿23个亿整体上的上半年央股份公司两大主要板块一个是价值板块和离板块的经营情况其实据经营统计来说产销基本上是比去年同期稍微好一些产量呢我们接近达到了225万噸 销量的是223万吨甲肥碳酸铝是产量是接近1.89万吨胶量是2.02万吨整体上的甲肥的销量是去年的同期碳酸铝的整体销量是比去年 ...

Financial Performance - The estimated net profit for the first half of 2024 is between 1.7 billion and 2.3 billion CNY, a decrease of 66.65% to 54.88% compared to 5.1 billion CNY in the same period last year[1][2] - The estimated earnings per share for the period is between 0.3 CNY and 0.4 CNY, down from 0.9580 CNY per share in the previous year[4] - The decline in performance is attributed to the drop in market prices for potassium chloride and lithium carbonate, despite an increase in sales volume[6] Tax and Penalties - The company has paid a total of 666 million CNY in back taxes and penalties, which is estimated to impact the total profit by approximately 492 million CNY[6][7] Audit and Reporting - The financial data in the performance forecast has not been audited by registered accountants, and the final figures will be disclosed in the 2024 semi-annual report[5][7]

Financial Data and Key Metrics Changes - The company's lithium production capacity has increased from 30,000 tons to 40,000 tons due to technical upgrades, with a projected sales target of 40,000 tons for the current year [1][2] - The sales volume for 2023 was approximately 38,000 tons, with the first quarter of 2024 achieving nearly 10,000 tons, indicating a strong likelihood of meeting the annual target [2][3] - The company's profit share from lithium operations is expected to exceed the 51.4% ownership stake due to internal cost structures [3][6] Business Line Data and Key Metrics Changes - The lithium segment is projected to expand its capacity to 60,000 tons by the end of the year, positioning the company among the top tier of domestic lithium producers [7][8] - The potassium fertilizer segment has a production capacity of 5 million tons, with sales reaching 5.66 million tons last year, indicating strong demand [19][20] Market Data and Key Metrics Changes - Domestic potassium fertilizer demand is estimated at 12 to 15 million tons annually, with 50% reliant on imports, highlighting a critical supply gap [20][21] - The current potassium fertilizer prices are at a historically low level, suggesting potential for price recovery in the future [23] Company Strategy and Development Direction - The company is focusing on expanding its lithium production capacity and maintaining low production costs, which are currently between 30,000 to 40,000 RMB per ton [12][17] - There is a strategic emphasis on leveraging domestic resources to mitigate risks associated with international supply chains [14][15] - The company is exploring potential partnerships with industry players, such as the Minmetals Group, to enhance operational capabilities and resource management [32][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving production targets and highlighted the importance of low-cost production in maintaining profitability despite market fluctuations [12][13] - The company anticipates that upcoming changes in corporate law will facilitate dividend distributions, enhancing shareholder returns [30][31] Other Important Information - The company has a significant capital reserve that can be utilized to offset past losses, potentially enabling future dividend payments [29][30] - The management is under pressure from state-owned enterprise governance to improve market performance and shareholder returns [31] Q&A Session Summary Question: What is the outlook for lithium production capacity? - The company is on track to expand its lithium production capacity to 60,000 tons by the end of the year, which will place it among the leading domestic producers [7][8] Question: How does the company plan to address past losses? - The upcoming changes in corporate law will allow the company to use capital reserves to cover past losses, potentially enabling dividend distributions in the future [30][31] Question: What is the current status of potassium fertilizer pricing? - Potassium fertilizer prices are currently low, but the company believes there is a structural support for prices due to ongoing demand and supply constraints [23][24]

] y r t s u d n I _ e l b a T [ [ 盐Ta 湖bl 股e_ 份T （itl 0e 0] 0 792）2024年一季报点评 公 司 钾肥销量短期承压，锂盐产能稳步扩张 研 挖掘价值 投资成长 究 / [Table_Rank] 增持 基 （维持） 础 化 2024 年 06 月 20 日 工 / 证 [东Ta方bl财e_富Au证th券or研] 究所 券 [【Ta投bl资e_要Su点mm】ar y] 证券分析师：周旭辉 研 究 证书编号：S1160521050001 报 证券分析师：程文祥 告  公司2024Q1收入和利润大幅回落，现金流表现优异。2024Q1公司实 证书编号：S1160522090002 现营业收入27.2亿元，同比下降42.1%，环比下降52.9%；实现归母 联系人：程文祥 净利润 9.3 亿元，同比下降 58.0%，环比下降 59.6%；实现扣非后归 电话：021-23586475 母净利润8.8亿元，同比下降60.4%，环比下降72.8%。2024Q1公司 [相T对ab指le数_P表ic现Qu ote] 实现毛利率48.7%，同比回落23.5个百分点，环比回 ...

本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站（https: //rs.p5w.net/），或关注微信公众号：全景财经，或下载全景路演APP，参与本次 互动交流，活动时间为2024年6月19日（周三）14:30-17:00。届时公司董事长贠 红卫先生，董事会秘书、财务负责人李舜先生，独立董事何萍女士等将在线就公 司2023年度业绩、公司治理、发展战略、经营状况、融资计划、股权激励和可持 续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广大投资者踊跃参 与。 特此公告。 网上投资者集体接待日暨 2023 年度业绩说明会的公告 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。 为进一步加强与投资者的互动交流，青海盐湖工业股份有限公司（以下简称 "公司"）将参加由青海证监局、青海证券业协会与深圳市全景网络有限公司联合 举办的"青海辖区上市公司网上投资者集体接待日暨2023年度业绩说明会"活动， 现将相关事项公告如下： 证券代码：000792 证券简称：盐湖股份 公告编号：2024-041 青海盐湖工业股份有限公司 关于参加青海辖区上市公司 青海盐 ...

证券代码：000792 证券简称：盐湖股份 公告编号：2024-039 青海盐湖工业股份有限公司 | 兴业银行股份有 | 首创证券创惠 2 号灵活优选集 | 3,000.00 | 按 7 天周期 | 2024/4/9 | 2024/5/21 | 9.31 | | --- | --- | --- | --- | --- | --- | --- | | 限公司西宁分行 | 合资产管理计划 | | 续投 | | | | | 兴业银行股份有 | 首创证券创惠 3 号灵活优选集 | 3,500.00 | 按 7 天周期 | 2024/4/9 | 2024/5/21 | 10.53 | | 限公司西宁分行 | 合资产管理计划 | | 续投 | | | | | 兴业银行股份有 | 首创证券创惠 6 号灵活优选集 | 3,500.00 | 按 7 天周期 | 2024/4/9 | 2024/5/21 | 12.38 | | 限公司西宁分行 | 合资产管理计划 | | 续投 | | | | | 银河金汇证券资 | 银河水星中短债 1 号集合资产 | | 28 天后每周 一二三可赎 | 2024/4/16 | 2024/5/21 ...

青海盐湖工业股份有限公司 证券代码：000792 证券简称：盐湖股份 公告编号：2024-040 | 长江证券（上海） | 长江资管乐享季季盈 | | 2 号 | | 无固定期限，需 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 资产管理有限公司 | 集合资产管理计划 | | | 5,000.00 锁定 90 日 | | 个自然 | 2024.1.24 | 2024.5.22 | 64.32 | | 国元证券股份有限 公司 | 国元证券元赢 产管理计划 | 6 | 号集合资 | 5,000.00无固定期限 | | | 2024.1.23 | 2024.5.27 | 83.63 | | 百瑞信托有限责任 | 百 瑞 信 托 - 致 远 稳 健 | | | | 产品封闭期为 | 3 | | | | | 公司 | 号集合资金信托计 12M-1 | | | 7,000.00 | 个月，之后无固 | | 2023.7.31 | 2024.5.29 | 280.97 | | | 划 | | | | 定期限 | | | | ...

青海盐湖工业股份有限公司 关于控股股东部分股权质押的公告 股东青海省国有资产投资管理有限公司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。 证券代码：000792 证券简称：盐湖股份 公告编号：2024-038 青海盐湖工业股份有限公司（以下简称"本公司"、"公司"或"上市公司"） 控股股东青海省国有资产投资管理有限公司（以下简称"青海国投"）质押股份 数量占其所持公司股份数量比例已超过 99.85%，请投资者注意相关风险。 本公司近日接到控股股东青海省国有资产投资管理有限公司（以下简称"青 海国投"）的通知，获悉青海国投将其所持本公司的股权办理了质押手续，现将 具体情况公告如下： 一、股东质押基本情况 （二）股东股份累计质押基本情况 股东名称 是否为 第一大 股东及 一致行 动人 本次质押数 量 占其所 持股份 比例 占公 司总 股本 比例 是否为 限售股 是否 为补 充质 押 起始日期 到期日 质权人 用途 青海国投 是 11,000,000 1.75% 0.20% 否 否 2024 年 5 月 28 日 办理解 除质押 手续止 中国建设 银行股份 有限公司 西宁城中 支行 融 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [6] Core Views - The company's Q1 2024 performance slightly missed expectations, with total revenue of 2.724 billion yuan, down 42.12% year-on-year, and a net profit of 934 million yuan, down 58.03% year-on-year [6] - The potassium fertilizer market is under pressure due to high inventory levels and increased imports, leading to a decline in prices and demand [6] - The lithium carbonate segment shows signs of recovery, with production and sales remaining high, supported by ongoing projects [7] Financial Data and Profit Forecast - Total revenue projections for 2024, 2025, and 2026 are 18.283 billion yuan, 20.420 billion yuan, and 22.128 billion yuan respectively, with year-on-year growth rates of -15.3%, 11.7%, and 8.4% [8] - Net profit forecasts for the same years are 6.394 billion yuan, 7.540 billion yuan, and 8.671 billion yuan, with corresponding year-on-year growth rates of -19.2%, 17.9%, and 15.0% [8] - Earnings per share are projected to be 1.18 yuan, 1.39 yuan, and 1.60 yuan for 2024, 2025, and 2026 respectively [8] - The company's return on equity (ROE) is expected to be 16.7%, 16.4%, and 15.9% for the years 2024, 2025, and 2026 [8] Market Data - As of May 23, 2024, the closing price of the company's stock is 17.37 yuan, with a market capitalization of 94.368 billion yuan [2] - The price-to-earnings (P/E) ratio is projected to be 15, 12, and 11 for the years 2024, 2025, and 2026 respectively [6][8]