According to the announcement, the company is able to resume trading on April 2 and continue to promote major asset restructuring. It is reported that the asset of the restructured target of the company is the Altura Mining Limited listed company on the Australian Stock Exchange.
As early as November 2016, Glory Vernon has acquired shares in Australia's Altura Mining, becoming the company's largest shareholder. Altura Mining is expected to sell its lithium concentrate for the first time in the second quarter of 2018. Kennedy said that this move will reduce the cost of lithium carbonate purchases for subsidiary's Watermaline battery business.
From the list of M&A targets disclosed by the company, Veolino can vaguely smell the future development trend of the power battery industry, and industry mergers and acquisitions for holding the right to speak will become more frequent.
As we all know, China's new energy automotive industry is a policy-driven industry, with the four ministries prior to the Spring Festival this year issuing the latest subsidy policy, which marks the early fall of domestic new energy subsidies, also means that the power battery industry will begin to appear in 2018 Change the game.
According to industry analysts, the new subsidy policy further raised the subsidy threshold and also lowered the subsidy standard. However, the standard for pure electric passenger cars with high cruising range did not fall, and the fuel cell subsidy standard remained stable, indicating that the policy orientation has been "Pleasing" changed to "choose superior." Therefore, the New Deal imposes higher requirements on the company's technological capabilities, manufacturing level, and capital reserves. The trend of the market gathering toward the leading position will continue, and the second and third line companies will become increasingly difficult to survive.
The statistics of the real lithium research show that in 2016 China's power battery manufacturers 109, and by 2017 the original 109 only to 80, which means that in 2017 there are 29 companies closed down. Fang Jianhua, partner and president of the New Energy Automotive Venture Capital Subfund of the National Science and Technology Achievements Conversion Fund, once stated that by 2020, there will be only 10 to 20 power battery companies remaining.
However, in the future, it is not a matter of urgency for leading battery companies. In 2017, due to the adjustment of the subsidy policy, car companies transmitted the pressure to the entire industrial chain, and the price of power batteries was forced to drop. However, the prices of lithium carbonate and cobalt in the upstream raw materials were still high, which led to the “two squeezes†of battery companies. Phenomenon, it has a certain impact on its profitability.
Therefore, for battery companies, reducing the operational risk through the layout of the industry chain has become a choice for many companies. The industry leader BYD established a joint venture with the Salt Lake Group and Zhuo Yucheng in Shenzhen at the end of 2016 to start a 30,000-ton lithium carbonate project. In addition, the lithium companies such as Xingneng Group, CITIC Guoan, and Xianfeng Lithium have also taken control or started to engage in lithium resources. Upstream resources have become a battleground for allies.
In 2018, the shift in the subsidy policy and the fragmentation of the industrial structure will set the tone for the development of the power battery industry in the coming years. It can be predicted that in the big changes in the industry reshuffling, mergers and acquisitions between the upstream and downstream industries will become more frequent in the future.
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