Snowsky Salt(SH:600929) Jing Ji Guan Cha Bao·2025-12-03 08:54Core Viewpoint - The acquisition of a 41% stake in Hunan Meite New Materials Co., Ltd. by Xue Tian Salt Industry is a strategic move to enhance its "Salt + New Energy" dual-driven strategy, aiming to capitalize on opportunities in the sodium battery cathode materials sector [1][2]. Group 1: Acquisition Details - Xue Tian Salt Industry plans to acquire a 41% controlling stake in Meite New Materials for approximately 261 million yuan, increasing its total ownership to 61% [1]. - The market reacted positively to the announcement, with Xue Tian Salt's stock price rising by 2.11% to 6.28 yuan on December 3 [1]. Group 2: Strategic Implications - This acquisition is part of Xue Tian Salt's long-term strategic planning and aims to leverage its resource focus and industrial strengths to support Meite New Materials in cost control and supply chain security [2]. - The integration is expected to facilitate Xue Tian Salt's transition from traditional salt and chemical sectors to high-tech, high-value new energy materials, aligning with national policies on new energy development [2]. Group 3: Performance of Meite New Materials - Meite New Materials has shown significant improvement in profitability and asset growth, with revenues reaching 640 million yuan in the first nine months of 2025, surpassing the total revenue of 630 million yuan for 2024 [3]. - The net profit for Meite New Materials in the first nine months of 2025 was 35.61 million yuan, a substantial increase from just 3.6 million yuan in 2024 [3]. Group 4: Product Development - In 2023, Meite New Materials launched four sodium battery cathode materials, enhancing its market presence, particularly in the e-cigarette battery segment, where it achieved a 30% market share [4]. - The company successfully established a pilot line for sodium ion battery cathode materials and commenced production on a lithium cobalt oxide expansion project, reaching an annual capacity of 7,500 tons [4]. Group 5: Future Directions - Xue Tian Salt is expanding its footprint in the new energy materials sector, including the establishment of a fiber research institute in collaboration with a prominent academic team, focusing on advanced fiber materials [6][7]. - The fiber research institute aims to develop smart fiber materials and optimize production processes, serving as a technological bridge for Xue Tian Salt's diversification into energy-related businesses [7].