According to Securities Star News, on April 30, 2024, Salt Lake Co., Ltd. (000792) announced that the company would hold a performance briefing on April 30, 2024.
The details are as follows:
Q: What was the revenue of potash fertilizer and lithium salt in the first quarter?
A: The company achieved operating income of 2.724 billion yuan in the first quarter, of which potash fertilizer accounted for about 60% of operating income and lithium carbonate accounted for about 30% of operating income.
2. Q: Your company used to spend 2 billion yuan to invite a professional investment team to speculate in stocks, what is the income now?
The company has fully and transparently disclosed the details of the purchase of wealth management products and securities investments, and has achieved significant overall returns. In order to ensure the safety of funds and continue to achieve stable investment returns, the company has further strengthened its internal control system and implemented more stringent and refined risk management measures. We understand the importance of the security of funds, so we will continue to strive to ensure that all investment activities follow best practices and strict standards to safeguard the interests of the company and investors.
3. Q: The mining rights were paid in the third quarter, and according to the third quarterly report, the mining rights were included in the cost side, and there were about 1 billion non-recurring profits and losses in the fourth quarter, what caused this part?
According to Article 14 of the Explanatory Announcement No. 1 on Information Disclosure and Disclosure of Companies Offering Securities to the Public (Revised in 2023) implemented on December 22, 2023, the income from the transfer of mining rights is included in the non-recurring profit and loss.
4. Q: In 2023, the cost of potash fertilizer will increase a lot compared with previous years, in addition to the one-time payment of mining rights, what are the other reasons for the approximate cost, and what will be the trend in the future?
In 2022, the company's potassium chloride output will be 5.8 million tons, and the company's payment of mining rights transfer income in 2023 will have a greater impact on costs. In order to continuously optimize cost control, the company adheres to the attitude of excellence, constantly explores potential cost saving space, and realizes the efficient use of resources and the sustainable development of the company.
5. Q: In the face of Chinese enterprises going to Southeast Asia to build potash fertilizer production capacity, Salt Lake also plans to list overseas potassium as an important plan this year, but if the overseas potash fertilizer production capacity is too low, it will not contribute much to the company's revenue and profit, and if the production capacity is too large, will there be a surplus of potash fertilizer that will lead to a decline in the volume and price of domestic potash fertilizer, how does the company view this problem and what plan will it take?
The company undertakes the important responsibility of "food security, resource security and ecological security" of the country, and the company's potash fertilizer continues to develop steadily, which plays a role in ensuring supply and stabilizing prices. In the face of the ever-changing international environment, the company will implement the strategic plan of "going out of potash", not only seeking to match the domestic demand for potash, but also paying attention to the changes and trends of the global potash market. Through the formulation of specific industrial plans, new breakthroughs have been made in the development of potash resources at home and abroad, so as to further ensure the supply of potash fertilizer in China.
6. How does the company solve the competition with Huixin?
In accordance with the guidelines of the Company Law and the Rules for the Listing of Stocks on the Main Board of the Shenzhen Stock Exchange and other relevant laws and regulations, the relevant units, as independent legal entities, will uphold the principles of common development and mutual benefit on the basis of strict compliance with laws and regulations, deepen cooperation, jointly promote industrial upgrading, and take this opportunity to effectively promote the sustainable development of the economy. We firmly believe that through the rule of law and the market, we will achieve a more robust, efficient and sustainable economic development.
7. Ask whether the company has participated in the refinancing and why the stock price has fallen for a long time?
At present, the Company is not involved in refinancing business. The fluctuation of the company's stock price is affected by multiple factors such as market trends, industry development trends, and investor sentiment. However, the company has always been committed to actively contributing to the sustainable development of the salt lake industry from the perspective of industrial development. The company firmly believes that through unremitting efforts and continuous innovation, it can promote the development of the salt lake industry to achieve higher quality and create greater value for investors and society.
8. When will the cash dividends be paid?
Immediately after the implementation of the new Company Law, the company will immediately start amending the Articles of Association to ensure that all provisions are consistent with the new regulations. In particular, in terms of dividend policy, it will be implemented in strict accordance with the provisions of the new laws and regulations to ensure that the rights and interests of shareholders are fully protected. At the same time, the company will continue to optimize and improve the dividend policy to make it more reasonable, fair and transparent, so that the majority of shareholders can achieve the results of the company's development.
9. Q: Is the cooperation project between Salt Lake and BYD still in progress, and why has it not been put into production for a long time?
At present, the pilot test led by BYD is still underway.
10. Q: What is the company's daily output of lithium carbonate in April?
In April, the company's daily output of lithium carbonate remained above 100 tons, and as the temperature rises, the lithium carbonate output will gradually increase.
11. Q: How much lithium carbonate was produced in the first quarter, and how much did it cost?
The company produced 8,700 tons of lithium carbonate in the first quarter, and the production of lithium carbonate is the old halogen emitted after the production of potash fertilizer, which has a certain cost advantage.
12. Does the company have any plans to expand potassium chloride production?
At present, the company's potash fertilizer production capacity in Zarhan Salt Lake is 5 million tons, and the company actively seeks potassium to "go global" to further enhance the company's voice in the field of potash fertilizer and contribute to national food security. 13、
Q: How many tons of lithium carbonate project capacity is planned in cooperation with BYD? What is the current progress? What is the company's equity in Lanke Lithium?Is the 40,000 tons of lithium carbonate to be put into production in 2024 the main investment of Lanke Lithium, or is the company's own investment unrelated to Lanke Lithium?
The company now holds 51.42% of the equity of Lanke Lithium, and the 40,000-ton lithium salt project is implemented by the company.
14. Q: The company's potash fertilizer shipments in the first quarter are relatively small, is there any direct relationship with Russian potash fertilizer imports?
In the face of the challenge of product sales in the first quarter affected by the high inventory of imported potassium, the company paid close attention to the market dynamics, flexibly adjusted the sales strategy, responded to the current market situation with a more proactive attitude, and optimized the sales strategy to promote the stability of product sales by accurately grasping the market demand and changes.
15. Q: According to the disclosure of the public bidding platform, Huixin's investment in 20,000 tons of lithium extraction is only 1.8 billion, and the company's investment in 40,000 tons is 7 billion.
During the implementation of the new 40,000 tons/year basic lithium salt integration project, the company continued to optimize its investment strategy to ensure that every cent of investment maximized its benefits. At the same time, it strengthens the control of project implementation, ensures the smooth progress of the project through refined management, and strives to create more value with the minimum investment cost and bring greater returns to the company and shareholders.
16. Q: When will the new 40,000 tons of lithium be put into production, and how long will it take to reach 40,000 tons per year?
The work related to the 40,000 tons/year basic lithium salt integration project is progressing steadily as a whole according to the project plan, and it is planned to be completed by the end of 2024.
17. Ask the company's management, the company's current production capacity is 5 million tons of potassium chloride and 4+40,000 tons of lithium carbonate. I would like to know how the controlling shareholder will cooperate with Minmetals. Will there be additional capacity newly developed on the line?
The construction of a world-class salt lake industrial base is the company's controlling shareholder Qinghai SDIC and China Minmetals Group to plan relevant strategic planning, which is still in the planning stage, if the follow-up arrangements involve listed companies, the company will timely fulfill the obligation of information disclosure in accordance with relevant laws and regulations.
18. Q: What are the advantages and disadvantages of salt lake lithium compared with spodumene and lepidolite?
The company makes full use of the unique resource advantages of Zarhan Salt Lake to carry out a circular production model, which not only realizes the efficient utilization of old brine discharged from potash fertilizer production, but also maximizes the value of resources through brine lithium extraction technology. This model not only has significant cost advantages, but also effectively reduces the environmental burden and effectively promotes the sustainable development of the company.
19. Q It was found that the rating given by CESI to your company in the environmental sub-item is only CC, which is not very ideal. How will your company develop and implement more stringent environmental policies, adopt more advanced green technologies, and strengthen environmental supervision of supply chain partners, so as to jointly improve your company's ESG performance in the environmental dimension?
Over the years, the company has been integrating the concept of sustainable development into the whole process of comprehensive development and recycling of resources, realizing the transformation of salt lake resource development from the low end of the value chain to the high end of the value chain, forming an efficient, low-carbon and recycling path in line with the actual development of the salt lake industry, and providing a strong guarantee for building a model of the national salt lake circular economy pilot zone.
Salt Lake Co., Ltd. (000792) main business: production and sales of potassium chloride and lithium carbonate.
According to the first quarter report of Salt Lake Co., Ltd. in 2024, the company's main revenue was 2.724 billion yuan, a year-on-year decrease of 42.12%, the net profit attributable to the parent company was 934 million yuan, a year-on-year decrease of 58.03%, the non-net profit was 875 million yuan, a year-on-year decrease of 60.42%, the debt ratio was 24.05%, the investment income was 3.5608 million yuan, the financial expenses were -59.7234 million yuan, and the gross profit margin was 48.7%.
A total of 13 institutions have rated the stock over the last 90 days, with 10 having a buy rating and 3 having an overweight rating, with an average institutional price target of 21.39 over the last 90 days.
Here's the detailed earnings forecast information:
Margin data shows that the stock has a net financing outflow of 247 million in the past three months, with a decrease in the financing balance, and a net outflow of 7.9478 million in securities borrowing and lending, with a decrease in the balance of securities borrowing and lending.
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