记者丨董鹏 编辑丨张伟贤 年末收官，锂资源的并购市场却明显升温。 12月30日晚间，盐湖股份公告，计划以46.05亿元现金收购五矿盐湖51%股权，交易完成后五矿盐湖将纳入公司合并报表范围内，并新增青海一里坪盐湖资 源。 另一边，盛新锂能在已经拥有启成矿业70%股权的基础上，再次宣布以20.8亿元收购其剩余的30%股权，进一步增加公司在川西木绒锂矿的权益。 加上近期华联控股"跨界"收购盐湖资产的案例，显示出自四季度锂价反弹后，行业整体并购活跃度的快速提升。 21世纪经济报道记者还注意到，相较于2024年的以"低价扩储"为主，近期出现的几起锂盐收购案例则呈现出了"溢价加仓"的特点。 比如盛新锂能计划收购的启成矿业，股东全部权益评估价值达到69.33亿元，增值率达到388.77%。 根据股权转让协议，此次盐湖股份计划收购中国盐湖工业集团在五矿盐湖持有的51%股权，进而成为其控股股东，后者也纳入到上市公司合并报表范围内。 | 盐湖股份锂盐综合产能与权益产能 | | | | --- | --- | --- | | 产能规模 持股(权益)比例 少数股东 | | | | 蓝科锂业 51. 42% | 4万吨/年 | 科达制 ...

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].