A lithium industry analyst told the reporter, “Compared with...

A lithium industry analyst told the reporter, “Compared with direct equity participation, through the use of pledges, we can quickly establish cooperation foundations to obtain funds and temporarily save the time required for the process. Funds are directly related to the acquisition of Australian mines as soon as possible. Promote major asset restructuring process."

After nearly 3 months of planning,KennedyThe major asset restructuring plan is about to surface. Prior to this, the mining partner appeared in advance.


On the evening of March 19, Kennedy Warhol issued an announcement saying that the companyHuayou Cobalt IndustrySigning the Investment Cooperation Framework Agreement, Huayou Cobalt Industry intends to indirectly hold the shares of Altura Mining Limited (abbreviation, Altura) by investing in Furui Holdings, a wholly-owned subsidiary of Triton Energy, in order to meet the strategic and capital requirements of the company. .

From the date of the announcement on March 15th, from the December 18th of 2017, Gerrywell was able to suspend the preparation of major asset restructurings. According to the progress announced on March 15, the reorganized overseas standard asset is Altura. And on March 18, the next year, Terry Warhol announced that it would introduce strategic investors.

After the transformation of new energy sources, although the net profit of Gailovo was soaring once, it did not directly translate into operating cash flow. At the same time, the demand for the distribution of upstream lithium mines was increasingly strong, and the purpose of introducing strategic investors was clear.

　　United Mine

On the evening of March 15, Gerry Vevol was able to disclose its major asset restructuring targets for the first time.

According to the announcement, the reorganized overseas standard asset is Altura. Altura is a company listed on the Australian Stock Exchange and is a diversified mineral exploration and service company. The company has multiple coal mines, iron mines and lithium in Indonesia and Australia. Mine project.

In 2016, Fortune Firefighting invested heavily in the acquisition of the entire equity interest in Watermar, transformed the field of new energy vehicles and power batteries, and subsequently acquired a 19.9% stake in Altura through Hong Kong’s wholly-owned subsidiary, Furui Holdings. In this reorganization, the company intends to acquire the remaining part or all of Altura's shares in order to achieve control of Altura.

As of today, Furui Holdings holds a 17.47% stake in Altura Corporation. In other words, if Furui Holdings needs to achieve control, it needs to buy at least 33.53% of the equity.

Altura also confirmed on a short day that it had negotiated with Kennedy Warnefon about a deal that could affect the company’s control. Altura believes that the content of the talks is "secret, unfinished, guided, and unbound." Any quotation will include a series of pre-conditions for completion, including the approval of regulatory authorities in China and Australia.

In addition to grasping some of the equity, Triway is also the underwriter of Altura.

In 2017, Altura entered into an underwriting agreement with Kensington, and Trialwell will be able to underwrite 6% of the 100,000 dry metric tons of lithium concentrate annually for a minimum of five years. The remainder will be sold by Altura itself, with the balance remaining. It is underwritten by the firm.

Pursuant to the agreement of the framework agreement, Huayou and Cobalt have already paid an earnest 100 million yuan of earnest money to the company. As a guarantee of the earnest money, the two parties signed the "Share Mortgage Deed" and pledged 100% of the shares of Furui Holdings held by Jianrui Woneng to Huayou Cobalt.

A lithium industry analyst told the reporter, “Compared with direct equity participation, through the use of pledges, we can quickly establish cooperation foundations to obtain funds and temporarily save the time required for the process. Funds are directly related to the acquisition of Australian mines as soon as possible. Promote major asset restructuring process."

The announcement also pointed out that the restructured domestic benchmark asset was Shenzhen Jiahe Precision Automation Technology Co., Ltd. However, as the counterparty did not reach an agreement on the commercial terms of the acquisition, it could decide to abandon the current Shenzhen Golden Harvest. The acquisition.

It is worth noting that, as the largest cobalt product processing company in China, Huayou Cobalt has become an investor in lithium mines. The announcement only pointed out the investment objectives of Huayou Cobalt.

In 2016, Trivole was able to subscribe for 306 million shares issued by Altura at a price of A$0.136 per share for a total transaction value of A$41.616 million. As of March 20, Altura Mining Ltd's latest transaction price was AU$0.47 per share. Based on this calculation, the market value of shares held by the company is up to 144 million Australian dollars, compared with the price at the time of purchase, the floating surplus reached about 100 million Australian dollars, or about 487 million yuan. In addition, according to the market value, the purchase of 33.53 shares needs about 197 million Australian dollars, equivalent to about 960 million yuan.

The above analysts pointed out that the Huayou Cobalt industry no longer meets the positioning of the processing companies and began to move up the cobalt field. Although Altura is a lithium mine, it is also in line with the resource strategy. “The goal of Huayou Cobalt is not only cobalt mines, but may include all lithium new energy materials.”

In the lithium mine layout, Huayou Cobalt is not the first shot. In 2017, Huayou Cobalt obtained an 11% stake in Australia’s AVZ Corporation through its subsidiary Huayou Hong Kong Mining, which invested approximately RMB 68.42 million.

　　Cash flow pressure

According to the announcement issued by the company on March 18, Gerry Wayneh’s controlling shareholder and actual controller Guo Hongbao, major shareholder and managing director Li Yao are planning the transfer of shares of the company and intends to introduce strategic investors to the strategic investor. To focus on new energy companies.

The subject matter of the acquisition is Guo Hongbao’s shares held in whole or in part, and shares in Hua Peng Weiye, as well as shares held by Li Yao in whole or in part.

Combined with the amount of funding required to acquire Altura and the trend of industrial chain mergers and acquisitions, market speculations that strategic investors may come from new energy auto companies.

As of now, Guo Hongbao holds 12.28% of the total share capital of Jianruoengeng. Under its control, Ningbo Jianrui New Energy Investment Partnership (Limited Partnership) holds 12.46% of the total share capital of Jianrui Wooneng. Li Yao holds a Wolong's total share capital is 13.58%.

However, most of these equity funds have been pledged. As of February 23rd, Guo Hongbao and his concerted person, Ningbo Jianrui New Energy Investment Partnership (Limited Partnership), accumulated pledged shares accounted for 92.29% of its total holdings in the company's shares and accounted for 22.83% of the company's total share capital. As of November 1, 2017, Li Yao and Li Jinlin, a person acting in concert with him, pledged 255 million shares, accounting for 71.77% of the total shares held by the company and accounted for 10.48% of the company's total share capital.

Following the formal entry into the field of new energy vehicles, Gerry Vevol's business performance has grown significantly. The net profit scale has increased from 35.37 million yuan in 2015 to 522 million yuan in the 2017 earnings report, but the cash flow has been under pressure.

The more direct data is that the financial data of the 3rd quarter of 2017 of the company can show that the company’s accounts receivable at the end of the third quarter increased by 4.95 billion yuan from the beginning of the period, an increase of 99.29% year-on-year. In contrast, in the third quarter, the revenue of the company was 2.54 billion yuan. In addition, the turnover rate of accounts receivable decreased from 1.88 in 2015 before the merger to 1.15 in the third quarter of 2017.

Regarding the issue of accounts receivable, Jianruowo can point out that the sales business of new energy products is mainly growth. Affected by the subsidy policy, the slowdown of payment makes the accounts receivable increase. However, it is not clear how the subsidy policy will affect the speed of payment, whether there is any qualification for subsidy, and if the subsidy from downstream companies does not arrive at the outstanding balance of the account.

This is easy to think of the two public opinion storms that could be experienced in 2017. The first direct refers to Wattmar's "reverse customization" model for the company to bring huge purchase orders, the other involves the "airline to complete mileage requirements to obtain subsidies."

Jian Ruiwo can also accept in the third quarter of 2017Institution researchResponded to the cash flow situation.

Jianruiwa can point out that the development speed of Waterma itself is relatively fast and has tripled in recent years. It is a normal phenomenon that the cash flow or the pressure on accounts receivable is relatively high. However, for the repayment, Kennedy said that there is not much problem because the downstream customers are local governments and bus companies. The logistics vehicle operation platform Xinwoyunli is growing very fast. As long as the car is run, the cash flow pressure is not too great. And once you run 30,000 kilometers, you can apply for the country to make up for the financial pressure on the entire industry chain.

As of today, the firm has not yet announced corporate debt projects.

However, a number of fund projects have been launched. On February 23, Waterma signed a strategic cooperation agreement with Shenzhen Pingshan District Urban Investment Corporation, and plans to co-sponsor a new energy auto industry fund with a scale of RMB 3 billion to invest in upstream and downstream industries of new energy vehicles.

Next, Kennedy and Everbright Financial Asset Management Co., Ltd. entered into a strategic cooperation framework agreement for a new energy auto industry fund worth RMB 30 billion. It intends to invest in upgrading the production capacity for new energy sources.Automobile industryInvestment and mergers and acquisitions to provide assistance and so on.

Jian Ruiwo can cooperate with Huayou Cobalt Industry Co., Ltd. to obtain cash pressure for solution

A lithium industry analyst told the reporter, “Compared with direct equity participation, through the use of pledges, we can quickly establish cooperation foundations to obtain funds and temporarily save the time required for the process. Funds are directly related to the acquisition of Australian mines as soon as possible. Promote major asset restructuring process."

After nearly three months of planning, the major asset restructuring plan of the company will soon surface. Prior to this, the mining partner appeared in advance.

On the evening of March 19, Kennedy Wolfowitz was able to issue an announcement saying that the company and Huayou Cobalt signed an investment cooperation framework agreement and Huayou Cobalt Industry intends to indirectly hold Altura Mining by investing in Furui Holdings, a wholly-owned subsidiary of Triton. Limited (Abbr., Altura) shares to meet the strategic and funding needs of the company.

From the date of the announcement on March 15th, from the December 18th of 2017, Gerrywell was able to suspend the preparation of major asset restructurings. According to the progress announced on March 15, the reorganized overseas standard asset is Altura. And on March 18, the next year, Terry Warhol announced that it would introduce strategic investors.

After the transformation of new energy sources, although the net profit of Gailovo was soaring once, it did not directly translate into operating cash flow. At the same time, the demand for the distribution of upstream lithium mines was increasingly strong, and the purpose of introducing strategic investors was clear.

United Mine

On the evening of March 15, Gerry Vevol was able to disclose its major asset restructuring targets for the first time.

According to the announcement, the reorganized overseas standard asset is Altura. Altura is a company listed on the Australian Stock Exchange and is a diversified mineral exploration and service company. The company has multiple coal mines, iron mines and lithium in Indonesia and Australia. Mine project.

In 2016, Fortune Firefighting invested heavily in the acquisition of the entire equity interest in Watermar, transformed the field of new energy vehicles and power batteries, and subsequently acquired a 19.9% stake in Altura through Hong Kong’s wholly-owned subsidiary, Furui Holdings. In this reorganization, the company intends to acquire the remaining part or all of Altura's shares in order to achieve control of Altura.

As of today, Furui Holdings holds a 17.47% stake in Altura Corporation. In other words, if Furui Holdings needs to achieve control, it needs to buy at least 33.53% of the equity.

Altura also confirmed on a short day that it had negotiated with Kennedy Warnefon about a deal that could affect the company’s control. Altura believes that the content of the talks is "secret, unfinished, guided, and unbound." Any quotation will include a series of pre-conditions for completion, including the approval of regulatory authorities in China and Australia.

In addition to grasping some of the equity, Triway is also the underwriter of Altura.

In 2017, Altura entered into an underwriting agreement with Kensington, and Trialwell will be able to underwrite 6% of the 100,000 dry metric tons of lithium concentrate annually for a minimum of five years. The remainder will be sold by Altura itself, with the balance remaining. It is underwritten by the firm.

Pursuant to the agreement of the framework agreement, Huayou and Cobalt have already paid an earnest 100 million yuan of earnest money to the company for the purpose of promoting cost-based investment. As a guarantee of the earnest money, the two parties signed the "Share Mortgage Deed" and pledged 100% of the shares of Furui Holdings held by Jianrui Woneng to Huayou Cobalt.

A lithium industry analyst told the reporter, “Compared with direct equity participation, through the use of pledges, we can quickly establish cooperation foundations to obtain funds and temporarily save the time required for the process. Funds are directly related to the acquisition of Australian mines as soon as possible. Promote major asset restructuring process."

The announcement also pointed out that the restructured domestic benchmark asset was Shenzhen Jiahe Precision Automation Technology Co., Ltd. However, as the counterparty did not reach an agreement on the commercial terms of the acquisition, it could decide to abandon the current Shenzhen Golden Harvest. The acquisition.

It is worth noting that, as the largest cobalt product processing company in China, Huayou Cobalt has become an investor in lithium mines. The announcement only pointed out the investment objectives of Huayou Cobalt.

In 2016, Trivole was able to subscribe for 306 million shares issued by Altura at a price of A$0.136 per share for a total transaction value of A$41.616 million. As of March 20, Altura Mining Ltd's latest transaction price was AU$0.47 per share. Based on this calculation, the market value of shares held by the company is up to 144 million Australian dollars, compared with the price at the time of purchase, the floating surplus reached about 100 million Australian dollars, or about 487 million yuan. In addition, according to the market value, the purchase of 33.53 shares needs about 197 million Australian dollars, equivalent to about 960 million yuan.

The above analysts pointed out that the Huayou Cobalt industry no longer meets the positioning of the processing companies and began to move up the cobalt field. Although Altura is a lithium mine, it is also in line with the resource strategy. “The goal of Huayou Cobalt is not only cobalt mines, but may include all lithium new energy materials.”

In the lithium mine layout, Huayou Cobalt is not the first shot. In 2017, Huayou Cobalt obtained an 11% stake in Australia’s AVZ Corporation through its subsidiary Huayou Hong Kong Mining, which invested approximately RMB 68.42 million.

Cash flow pressure

According to the announcement issued by the company on March 18, Gerry Wayneh’s controlling shareholder and actual controller Guo Hongbao, major shareholder and managing director Li Yao are planning the transfer of shares of the company and intends to introduce strategic investors to the strategic investor. To focus on new energy companies.

The subject matter of the acquisition is Guo Hongbao’s shares held in whole or in part, and shares in Hua Peng Weiye, as well as shares held by Li Yao in whole or in part.

Combined with the amount of funding required to acquire Altura and the trend of industrial chain mergers and acquisitions, market speculations that strategic investors may come from new energy auto companies.

As of now, Guo Hongbao holds 12.28% of the total share capital of Jianruoengeng. Under its control, Ningbo Jianrui New Energy Investment Partnership (Limited Partnership) holds 12.46% of the total share capital of Jianrui Wooneng. Li Yao holds a Wolong's total share capital is 13.58%.

However, most of these equity funds have been pledged. As of February 23rd, Guo Hongbao and his concerted person, Ningbo Jianrui New Energy Investment Partnership (Limited Partnership), accumulated pledged shares accounted for 92.29% of its total holdings in the company's shares and accounted for 22.83% of the company's total share capital. As of November 1, 2017, Li Yao and Li Jinlin, a person acting in concert with him, pledged 255 million shares, accounting for 71.77% of the total shares held by the company and accounted for 10.48% of the company's total share capital.

Following the formal entry into the field of new energy vehicles, Gerry Vevol's business performance has grown significantly. The net profit scale has increased from 35.37 million yuan in 2015 to 522 million yuan in the 2017 earnings report, but the cash flow has been under pressure.

The more direct data is that the financial data of the 3rd quarter of 2017 of the company can show that the company’s accounts receivable at the end of the third quarter increased by 4.95 billion yuan from the beginning of the period, an increase of 99.29% year-on-year. In contrast, in the third quarter, the revenue of the company was 2.54 billion yuan. In addition, the turnover rate of accounts receivable decreased from 1.88 in 2015 before the merger to 1.15 in the third quarter of 2017.

Regarding the issue of accounts receivable, Jianruowo can point out that the sales business of new energy products is mainly growth. Affected by the subsidy policy, the slowdown of payment makes the accounts receivable increase. However, it is not clear how the subsidy policy will affect the speed of payment, whether there is any qualification for subsidy, and if the subsidy from downstream companies does not arrive at the outstanding balance of the account.

This is easy to think of the two public opinion storms that could be experienced in 2017. The first direct refers to Wattmar's "reverse customization" model for the company to bring huge purchase orders, and the other involves the "airline to complete mileage requirements to obtain subsidies."

In the third quarter of 2017, the company was able to respond to cash flow when it was undergoing institutional research.

Jianruiwa can point out that the development speed of Waterma itself is relatively fast and has tripled in recent years. It is a normal phenomenon that the cash flow or the pressure on accounts receivable is relatively high. However, for the repayment, Kennedy said that there is not much problem because the downstream customers are local governments and bus companies. The logistics vehicle operation platform Xinwoyunli is growing very fast. As long as the car is run, the cash flow pressure is not too great. And once you run 30,000 kilometers, you can apply for the country to make up for the financial pressure on the entire industry chain.

As of today, the firm has not yet announced corporate debt projects.

However, a number of fund projects have been launched. On February 23, Waterma signed a strategic cooperation agreement with Shenzhen Pingshan District Urban Investment Corporation, and plans to co-sponsor a new energy auto industry fund with a scale of RMB 3 billion to invest in upstream and downstream industries of new energy vehicles.

Subsequently, the company signed a strategic cooperation framework agreement for a new energy auto industry fund worth RMB 30 billion with China Everbright Financial Controlled Finance Capital Co., Ltd., intending to invest in upgrading production capacity, providing assistance for investment and acquisition of new energy auto industry, etc. .

(Original title: Gerry Vernon and Huayou Cobalt Co., Ltd. plan to cooperate to obtain ore cash pressure to