若成功控股五矿盐湖有限公司（下称"五矿盐湖"），盐湖股份的行业龙头地位将得到进一步巩固。 盐湖股份12月30日晚发布公告，拟以46.05亿元现金收购控股股东中国盐湖工业集团有限公司（下称"中 国盐湖"）持有的五矿盐湖51%股权。交易完成后，五矿盐湖将成为公司的控股子公司，并纳入公司合 并报表范围。 盐湖股份欲控股五矿盐湖一事在市场预期之内。盐湖股份、五矿盐湖共同实控人中国五矿在2024年就作 出关于避免同业竞争的承诺，承诺妥善解决五矿盐湖与盐湖股份之间的同业竞争问题。 解决同业竞争 盐湖股份拿下五矿盐湖控制权 具体来看，盐湖股份与中国盐湖在12月30日签署了关于五矿盐湖股权转让的协议。根据转让协议，盐湖 股份拟以支付现金方式收购五矿盐湖51%股权，交易价格为46.05亿元。 公告显示，经采用资产基础法评估，五矿盐湖所有者权益账面价值为19.96亿元，评估值为90.3亿元，增 值70.34亿元，增值率为352.42%。由于中国盐湖为盐湖股份的控股股东，本次交易构成关联交易。 事实上，这笔交易主要是为解决盐湖股份及五矿盐湖实控人中国五矿旗下盐湖资源开发企业的同业竞争 问题。 回顾来看，由中国五矿牵头组建的中国盐湖 ...

本报记者 李立平 12月30日晚间，盐湖提锂龙头企业青海盐湖工业股份有限公司（以下简称"盐湖股份（000792）"）发布 关于现金收购五矿盐湖有限公司51%股权暨关联交易的公告。 根据公告，盐湖股份拟以支付现金方式购买公司控股股东中国盐湖工业集团有限公司（以下简称"中国 盐湖"）持有的五矿盐湖有限公司（以下简称"五矿盐湖"或"标的公司"）51%股权（以下简称"本次交 易"）。本次交易以评估机构出具的评估报告为定价参考，并经交易双方协商，确定转让价格为46.05亿 元（最终交易价格参照经有权国资监管机构备案的评估值确定）。本次交易完成后，五矿盐湖将成为盐 湖股份的控股子公司，并纳入该公司合并报表范围。 此次收购不仅是盐湖资源领域年内备受关注的大手笔整合，也被视为盐湖股份夯实主业、拓展资源版图 的关键一步。根据公告，本次交易定价以评估报告为基础协商确定，最终价格将以经国资监管机构备案 的评估值为准。本次交易设置业绩承诺，业绩承诺期为2026年、2027年和2028年，业绩承诺方中国盐湖 承诺，五矿盐湖业绩承诺期每年实现的经审计的净利润为66841.68万元、69166.25万元、74497.5万元。 对于此次收购 ...

酸锂产能1.5万吨/年、磷酸锂产能0.2万吨/年、氢氧化锂产能0.1万吨/年以及钾肥产能30万吨/年。在生产 经营方面，五矿盐湖锂盐产品的收率、质量、成本等指标在盐湖行业领先。在研发技术方面，五矿盐湖 承担国家重点研发计划项目1项"盐湖资源开采与综合利用关键技术研究与示范"，参与国家级科研项目3 项。近五年标志性科技成果8项，其中"梯度耦合膜分离提锂技术""盐湖原卤短流程高效直接提锂关键技 术及产业化应用"2项成果水平达到国际领先；"盐湖原卤高效提锂技术研究"等2项达到国内领先水平， 填补国内盐湖行业空白。 五矿盐湖主要通过一里坪盐湖从事盐湖锂、钾资源的开发，一里坪盐湖位于柴达木盆地中部盐湖带的中 西部，矿区面积为422.73平方千米，是一个以液体锂矿为主，共（伴）生有硼、钾、镁等有益组分的大 型综合性盐湖矿床。根据《青海省冷湖行委一里坪盐湖锂矿2024年储量年度报告》，截至2024年末，五 矿盐湖氯化锂保有资源量为164.59万吨，氯化钾保有资源量为1463.11万吨。 数据显示，五矿盐湖2024年实现营业收入20.8亿元，实现归属于母公司股东的净利润6.9亿元；2025年前 8个月，公司实现营业收入7.9 ...

每经AI快讯，盐湖股份12月30日晚间发布公告称，公司第九届第十六次董事会会议于2025年12月30日 以现场和视频相结合的方式召开。会议审议了《关于现金收购五矿盐湖有限公司51%股权暨关联交易的 议案》等文件。 每经头条（nbdtoutiao）——2025十大财经新闻出炉！护航、酣战、变局、狂飙分别指向哪些大事件？ （记者 曾健辉） ...

Core Viewpoint - Hualian Holdings plans to acquire overseas lithium mining assets for 1.235 billion yuan, aiming to diversify into lithium extraction from salt lakes, which has positively impacted its stock performance with multiple trading halts [1][3][4]. Group 1: Acquisition Details - The company intends to purchase 100% of Argentum Lithium S.A. to gain 80% interest in the Arizaro project, with a base price of $175 million, equivalent to 12.35 billion yuan [3][4]. - The Arizaro project is located in Argentina's Salta province and is part of the largest undeveloped salt lake in South America, covering approximately 1970 square kilometers [4][5]. - The project has a measured and indicated resource total of 469,000 tons of lithium, equivalent to 2,498,000 tons of lithium carbonate [1]. Group 2: Strategic Importance - This acquisition is part of Hualian Holdings' strategy to transition from real estate to new energy sectors, particularly lithium extraction, to enhance its market competitiveness and profitability [9][10]. - The company aims to create synergies with its existing businesses in lithium extraction and adsorbent production, thereby strengthening its position in the new energy supply chain [5][6]. Group 3: Financial Performance and Challenges - Hualian Holdings has faced declining revenues, with a 75.89% drop in revenue in 2023 compared to the previous year, prompting the need for diversification [8][9]. - The company reported a net profit of 0.82 billion yuan in 2023, down 81.27% year-on-year, indicating significant financial pressure [8]. - The acquisition will lead to substantial capital expenditures, potentially impacting cash flow during the project's construction phase [2][11]. Group 4: Market Risks and Future Outlook - The company acknowledges potential risks related to resource availability, capital expenditure pressures, and fluctuations in lithium carbonate prices, which could affect the investment's viability [11][12]. - Despite these risks, market analysts predict a favorable outlook for lithium demand driven by energy storage needs, suggesting a positive long-term market environment [12].

Core Viewpoint - The company, Xizang Zhufeng (600338), is actively developing its lithium extraction project in Argentina using an "adsorption + membrane" technology, which has seen successful industrial applications domestically [1] Group 1: Project Development - The Argentina Angeles project utilizes a lithium extraction technology that has been successfully applied in various industrial projects within China [1] - The company is focusing on technological advancements in salt lake lithium extraction and has achieved significant results in this area [1] Group 2: Financing and Ownership - The company plans to address its resource development funding needs through market-based financing methods [1] - The controlling shareholder of the company is Tachen International, which is not affiliated with Wenguang Group [1] Group 3: Collaboration and Communication - The company maintains a positive and open attitude towards project collaboration [1] - Relevant information regarding the company's projects will be disclosed through announcements on the Shanghai Stock Exchange and designated information disclosure media [1]

Investment Rating - The investment rating for the company is maintained at "Buy" [1] Core Views - The company plans to acquire 100% of Argentum, a lithium project in South America, for USD 175 million, marking its first significant overseas salt lake resource acquisition, which enhances the certainty of its second growth curve [1][2] - The Arizaro project in Argentina is the largest undeveloped salt lake in the South American "lithium triangle," covering approximately 205 square kilometers with an average lithium concentration of 297 mg/L, translating to a total resource of about 2.5 million tons of LCE [2] - The company has established a stable production line for lithium extraction and processing, with eight core patents in key areas, and aims to enter the lithium production business, thereby diversifying its revenue streams [2] - The real estate sector continues to provide cash flow, with significant sales progress in core projects, such as the "Yupin Luanshan" project in Shenzhen, which has a projected value of RMB 4-5 billion [3] Financial Forecast and Valuation - The company’s projected net profits for 2025, 2026, and 2027 are RMB 80 million, RMB 90 million, and RMB 190 million, respectively, with corresponding EPS of RMB 0.06, RMB 0.07, and RMB 0.13 [4] - The target price has been adjusted to RMB 5.15, reflecting a 60% premium on the estimated 2026 P/B ratio of 1.38x, driven by improved lithium supply-demand dynamics and the company's strategic acquisitions [4]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 跨界锂矿，"涨声"相迎。 主营房地产业务的华联控股（000036）12月22日晚发出拟并购海外盐湖资产公告后，公司股票23日开盘 后一字涨停。截至记者发稿，封单超过82万手。 | 来联控股 | | | | | | | --- | --- | --- | --- | --- | --- | | 000036 融 深般通 L1 | | | | | | | 6.13 | 高 | 6.13 | 市值 86.05亿 | 量比 | 0.54 | | 作 | | 6.13 | 流通 85.89亿 | 换 | 1.42% | | 0.56 10.05% | # | 6.13 | 市盈 TTM 222.13 | 额 | 1.22亿 | | 同莊護 异动解读:盐湖提锂+新能源转型+城市更新 ... ● × | | | | | | | 博诺 | | | | | | | 分时 日K 周K | | 月K | 五日 | 更多。 | (0) | | 均价: 6.13 最新: 6.13 0.56 10.05% | | | | | | | 6.13 | | | 10.0 ...

Core Viewpoint - The article discusses the transformation and recovery of two listed companies, Salt Lake Co. and Zangge Mining, which have both experienced significant ups and downs but have recently shown potential for growth and profitability due to strategic restructuring and market conditions. Group 1: Salt Lake Co. - Salt Lake Co. was originally a local state-owned enterprise that transitioned to a joint-stock company in 1996-1997, focusing on potassium fertilizer as its main business [1] - The company experienced rapid growth and was a high-performing stock during the 2004-2008 bull market, achieving over 30 times price increase [1] - After 2008, the company diversified into magnesium projects, leading to significant losses and a peak loss of 45.9 billion in 2019, resulting in bankruptcy restructuring [3] - In 2020, the company underwent judicial restructuring, divesting loss-making assets and refocusing on potassium fertilizer and lithium extraction, which improved its financial structure [3] - In 2025, the company was acquired by Minmetals Group, becoming a central enterprise, which enhanced its governance and strategic clarity [3] Group 2: Zangge Mining - Zangge Mining started as a private enterprise in 2002 and became the second-largest compound fertilizer company in China, listing in 2016 [4] - The company faced governance issues and financial troubles between 2019-2020, leading to a significant crisis and eventual restructuring [4] - In 2021, Zangge Mining restructured by introducing strategic investments and divesting bad assets, successfully removing delisting risks [4] - In April 2025, Zijin Mining became the largest shareholder, transforming the company from a private to a state-owned enterprise, which improved governance and risk control [4] Group 3: Market and Financial Performance - Both companies have similar business structures focusing on potassium fertilizer and lithium extraction, with Zangge Mining showing higher ROE due to its new ownership [6] - Salt Lake Co. is considered more attractive in terms of investment valuation compared to Zangge Mining [6] - Other companies in the potassium fertilizer sector, such as Yara International and Dongfang Tower, are also performing well, with Yara showing continuous high growth in recent quarters [6]

Core Viewpoint - Cangge Mining announced a capital increase plan for the Cangqing Fund, raising the total scale from 5.31 billion to 6.71 billion yuan, with the company investing up to 660 million yuan to enhance its resource layout in lithium extraction from salt lakes and ensure good investment returns [1] Group 1: Fund Expansion - Cangge Mining's wholly-owned subsidiary, Cangge Mining Investment (Chengdu) Co., Ltd., and other partners signed a partnership agreement to expand the Cangqing Fund by 1.4 billion yuan [1] - The original limited partner, Ningbo Qingchuyulan Equity Investment Partnership, transferred its entire share in the Cangqing Fund to Jiangsu Shagang Group and withdrew from the partnership [1] Group 2: Investment Details - Cangge Mining Investment will increase its subscription to the Cangqing Fund by 660 million yuan, aiming to secure the value of previous investments and enhance the company's development capabilities in the lithium extraction sector [1] - The subscription details of the partners before and after the expansion are provided, showing the changes in their subscribed amounts and proportions [1] Group 3: Financial Performance - For the first three quarters of 2025, Cangge Mining reported revenues of 2.401 billion yuan and a net profit attributable to shareholders of 2.751 billion yuan [1]