Reporter | Zhao Yangge
Yuntu Holdings (002539. SZ), the third quarterly report is also available.
According to the disclosure, the operating income of Yuntu Holdings in the first three quarters of 2021 was 10.092 billion yuan, an increase of 48.33% year-on-year, the net profit attributable to the shareholders of the listed company was 781 million yuan, an increase of 110.68% year-on-year, and the increase in non-net profit was 123.13%. Basic earnings per share as of the end of September were 0.78 yuan, and as of now, the net assets per share are 3.62 yuan, and the current stock price is around 16 yuan. Prior to this, in mid-September, the stock price of Yuntu Holdings once rushed above 23 yuan, with the maximum increase of more than 200% in the whole year.
The performance of Yuntu Holdings in the first three quarters of the growth, the market is not surprised, because the company in the previous forecast clearly indicated that the same direction will rise. According to the description of Yuntu Holdings, the performance growth was roughly due to the year-on-year increase in the sales volume and gross profit margin of the company's compound fertilizer products in the reporting period; the price of lian alkali products increased year-on-year; the price of phosphorus chemical products increased year-on-year, and the gross profit margin increased year-on-year.
According to the data, Yuntu Holdings focuses on the production and sales of compound fertilizer, and carries out in-depth development and market expansion along the compound fertilizer industry chain, and has now formed an industrial pattern of coordinated development of compound fertilizer, alkali, phosphorus chemical industry and edible salt, and the main products include compound fertilizer, soda ash, ammonium chloride, monoammonium phosphate, yellow phosphorus, edible salt, industrial salt, etc.
According to the semi-annual report, Yuntu Holdings has an annual production capacity of 5.1 million tons of compound fertilizer, and its product line covers a full line of products such as water-soluble fertilizer, liquid fertilizer, synergistic fertilizer, slow-release fertilizer, high-tower urine group, high-tower nitro, sprayed sulfur, sprayed nitro-sulfur, high-concentration chlorine, high-concentration sulfur, medium and low concentration compound fertilizer, organic-inorganic compound fertilizer and so on. The joint alkali business is the extension and expansion of the company's compound fertilizer upstream nitrogen fertilizer, the company has 600,000 tons of soda ash and ammonium chloride, and 100,000 tons of sodium nitrate and sodium nitrite. As for the phosphorus chemical business, it is also an extension and expansion of the upstream "phosphate rock - yellow phosphorus - phosphoric acid - phosphate / phosphate fertilizer" upstream of Yuntu Holdings compound fertilizer. The company mainly produces and sells yellow phosphorus, phosphoric acid, phosphate and lime products, supporting phosphate mines, silicon mines, water transport terminals and special railway yards, with a production capacity of 60,000 tons of yellow phosphorus, 15,000 tons of potassium dihydrogen phosphate, 35,000 tons of sodium tripophosphate and 300,000 tons of lime, and an annual throughput of 1.4 million tons of terminals.
In addition, in terms of phosphate ore, Lei Bo Kai Rui Company, a wholly-owned subsidiary of Yuntu Holdings, owns the phosphate mine prospecting right in Niuniuzhai North Mining Area, Leibo County, Sichuan Province, which was divided into two prospecting rights on October 10, 2016 into two exploration rights for phosphate ore exploration in the eastern section of Niuniuzhai North Mining Area in Leibo County and phosphate ore exploration in the western section of Niuniuzhai North Mining Area, the western section of phosphate ore is still in the exploration stage, and the eastern section of phosphate ore resource reserves is identified as 181 million tons. In terms of salt mines, Xiaogan Guangyan Huayuan, a holding subsidiary of the company, has an independent salt mine of "Salt Sea Paste Capital" at 30 degrees north latitude, with well salt reserves of 250 million tons.
Taking advantage of the outlet, Yuntu Holdings intends to make a force for phosphorus chemical industry. On September 4, the company disclosed the "Announcement on Investing in the Establishment of Yuntu New Energy Materials (Jingzhou) Co., Ltd. and Building a Battery-Grade Iron Phosphate and Related Supporting Projects with an Annual Output of 350,000 Tons". The company intends to invest in the establishment of Yuntu New Energy Materials (Jingzhou) Co., Ltd. (hereinafter referred to as Yuntu New Energy) Co., Ltd. (hereinafter referred to as Yuntu New Energy) in Songzi City, Hubei Province with its own (self-financing) monetary funds of 500 million yuan, and invest in the construction of projects with an annual output of 350,000 tons of battery-grade iron phosphate and supporting 300,000 tons of wet phosphoric acid (purified), 300,000 tons of refined phosphoric acid, 1.5 million tons of phosphate ore beneficiation, 1 million tons of sulfur to acid, 600,000 tons of slow-release compound fertilizer, 1 million tons of phosphogypsum comprehensive utilization and 20MW waste heat power generation. The total investment of the project is expected to be 4.595 billion yuan, the project is divided into two phases, the first phase of 100,000 tons / year iron phosphate, is expected to be completed and put into operation in March 2023; the second phase of 250,000 tons of iron phosphate and supporting 300,000 tons of wet phosphoric acid (purified), 300,000 tons of refined phosphoric acid, 1.5 million tons of phosphate ore processing, 1 million tons of sulfur acid, 600,000 tons of slow controlled release compound fertilizer, 1 million tons of phosphogypsum comprehensive utilization and 20MW waste heat power generation project, is expected to be completed and put into operation in December 2023.
In addition, on October 26, Yuntu Holdings also disclosed that the company signed the "Jiangsu Zangqing New Energy Industry Development Fund Partnership (Limited Partnership) Partnership Agreement" with Wuxi Tuohai Equity Investment Fund Management Co., Ltd., Zangge Investment (Chengdu) Co., Ltd., Jiangsu Shagang Group Co., Ltd., Ningbo Qingyulan Equity Investment Partnership (Limited Partnership), and Wuxi Weifu High-Tech Group Co., Ltd. It is proposed to use its own monetary funds of RMB500 million to subscribe for the partnership shares of Jiangsu Zangqing New Energy Industry Development Fund Partnership (Limited Partnership) (hereinafter referred to as "Zangqing Fund") and become a limited partner of the partnership. The Zangqing Fund mainly invests in the global new energy battery raw material Salt Lake Lithium Mining Enterprise, with a fundraising scale of 5.31 billion yuan, and the company's subscribed capital accounted for about 9.42% of the total share of the fund.
Or it is also because of the sharp rise in stock prices, the concentration of chips as of the end of September has been significantly loosened compared with the end of June. According to the data, the number of shareholders of Yuntu Holdings was 40,000 at the end of June, and at the end of September, the data became 51,400 households, an increase of 28.5%. The list of the top ten shareholders saw that compared with the end of June, the social security fund 116 combination, which had held 32.0518 million shares, the social security fund 401 combination that had held 27 million shares, the Qianhai life-dividend insurance product Huatai portfolio, which had held 15 million shares, and the other 3 insurance products and funds that had held more than 10 million shares, all withdrew from the list of top ten shareholders.
In fact, with the loosening of chips, the stock price of Yuntu Holdings has been unstoppable since September 23, and in a total of 10 trading days from September 23 to October 13, the stock price of Yuntu Holdings has ushered in a wave of 35.34% decline. According to the Dragon and Tiger List, on September 23, 24 and 27, seats such as "institutional exclusive" and "Shenzhen Stock Connect exclusive" were sold in a big way, not by ordinary sales department seats.
On September 8, the company also disclosed the pre-disclosure announcement of the reduction of the controlling shareholder's concerted action. The announcement shows that Zhang Mingda, the controlling shareholder acting in concert, plans to reduce his holdings by no more than 2.3316 million shares within 6 months, and the reason for the reduction is his own capital needs.