兆新股份以债转股方式获取青海锦泰股权 战略切入盐湖锂赛道

Core Viewpoint - The company Zhaoxin Co., Ltd. (002256) is restructuring its equity in Qinghai Jintai Potash Co., Ltd. through a debt-to-equity swap, aiming to create a comprehensive development path that integrates "new energy downstream market + new energy upstream resource layout" under the national new energy strategy and "dual carbon" goals [1] Group 1: Equity Restructuring - Zhaoxin Co., Ltd. will acquire a 15% stake in Qinghai Jintai to offset a debt of 354.5 million yuan, which includes principal, penalties, and transaction costs [1] - The company previously sold a stake in the lithium carbonate sector during a peak in 2021, recovering approximately 200 million yuan, and is now increasing its stake to enhance its asset base [1] - The debt-to-equity swap is based on judicial compliance, aiming to systematically resolve Qinghai Jintai's existing debt and facilitate future operations [1] Group 2: Resource Potential - Qinghai Jintai holds 450 square kilometers of high-quality salt lake lithium resources, with lithium chloride reserves estimated at 1.6349 million tons, translating to approximately 1.1384 million tons of lithium carbonate equivalent [2] - The average lithium chloride concentration in the brine is 168.87 mg/L, which is 40.7% higher than the average of other domestic salt lakes, indicating significant economic viability for development [2] - The integrated model of "photovoltaics + energy storage + charging + lithium extraction from salt lakes" is expected to accelerate the release of this resource's potential [2] Group 3: Market Outlook - The lithium carbonate market is currently in an upward cycle, with futures prices stabilizing at 86,000 yuan per ton, reflecting a 10% increase since the beginning of the year [3] - With the growing demand from global power batteries and energy storage, prices are projected to remain between 80,000 yuan and 150,000 yuan per ton over the next two years [3] - Qinghai Jintai's planned annual production capacity of 10,000 tons of battery-grade lithium carbonate could generate annual revenues of 800 million to 1 billion yuan, enhancing the company's revenue and profit levels [3]