Qinghai Salt Lake Industry (SZ:000792) Zhong Guo Zheng Quan Bao·2025-12-30 14:07Core Viewpoint - Salt Lake Co. plans to acquire 51% of Minmetals Salt Lake Co. for 4.605 billion yuan, aiming to enhance its position in the lithium industry and improve overall company performance [1][3]. Group 1: Acquisition Details - The acquisition price for the 51% stake in Minmetals Salt Lake is set at 4.605 billion yuan, with the total assessed value of Minmetals Salt Lake's 100% equity at approximately 9.03 billion yuan [2][4]. - Following the transaction, Minmetals Salt Lake will become a subsidiary of Salt Lake Co. and will be included in its consolidated financial statements [1][3]. Group 2: Financial Performance and Projections - Minmetals Salt Lake's projected revenue for 2024 is 2.084 billion yuan, with a net profit of 690 million yuan. For the first eight months of 2025, the revenue is expected to be 798 million yuan, with a net profit of 316 million yuan [3]. - The performance commitment for Minmetals Salt Lake includes net profit targets of 668 million yuan, 692 million yuan, and 745 million yuan for the years 2026, 2027, and 2028, respectively [5]. Group 3: Industry Position and Growth Potential - Salt Lake Co. is recognized as the largest potassium fertilizer production base in China and leads the nation in brine lithium extraction capacity, with an annual lithium carbonate production capacity of 80,000 tons [1]. - The company expresses strong optimism regarding the long-term growth prospects of the lithium carbonate industry, driven by the expanding electric vehicle market and the increasing demand from the energy storage sector [6].