Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. China
  4. Shanghai Stock Exchange
  5. Xiamen Tungsten Co., Ltd.
  6. News
  7. Summary
    600549   CNE000001D15

XIAMEN TUNGSTEN CO., LTD.

(600549)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Xiamen Tungsten : China's XTC New Energy plans $1.6 billion battery material investment

09/16/2021 | 09:48am EST

(Reuters) - XTC New Energy Materials, a unit of Chinese metals and rare earths producer Xiamen Tungsten, said on Thursday it planned to invest no less than 10 billion yuan ($1.55 billion) in a lithium battery materials project in Sichuan province.

Battery demand is booming in top global auto market China, where sales of new energy vehicles leapt 182% year-on-year in August, prompting a flurry of investment in new capacity to produce battery ingredients.

XTC New Energy said in a filing it signed a letter of intent with Yaan Economic and Technological Development Zone in Sichuan, southwest China, to build a plant that will eventually produce 100,000 tonnes of lithium iron phosphate and 60,000 tonnes of ternary materials annually.

Ternary refers to the combination of three metals used in lithium-ion battery cathodes, such as nickel, cobalt and manganese.

Yaan is already a lithium production base for Tesla supplier Yahua, while Tianqi Lithium is also headquartered in Sichuan.

The 1.2 billion yuan first phase of the lithium iron phosphate component will have annual output of 20,000 tonnes, XTC New Energy said, noting it does not currently produce that material. It is expected to be put into operation in 2023.

The first phase of the ternary materials component is slated to come on line in 2024 and will also produce 20,000 tonnes per year. It will involve investment of 2.2 billion yuan and include a 10,000 tonnes-per-year nickel and cobalt smelter for battery recycling.

The timing of subsequent investments will be based on market conditions, said XTC New Energy, adding that a feasibility study still needs to be presented to its board and that bank loans would be taken out to fund the project.

XTC New Energy was formerly the battery materials division of Xiamen Tungsten, its biggest shareholder, but has been a company in its own right since 2016.

($1 = 6.4465 Chinese yuan renminbi)

(Reporting by Tom Daly; Editing by Steve Orlofsky)


ę Reuters 2021
All news about XIAMEN TUNGSTEN CO., LTD.
10/01It's not just gas that's going up
09/30China hikes 2021 rare earth quotas by 20% to record highs
RE
09/16XTC NEW ENERGY MATERIALS XIAMEN : to Buy Battery Materials From CNGR Advanced Material; Sh..
MT
09/16XTC NEW ENERGY MATERIALS XIAMEN : Earmarks $1.6 Billion For New Lithium Battery Plant; Sha..
MT
09/16XIAMEN TUNGSTEN : China's XTC New Energy plans $1.6 billion battery material investment
RE
08/25Xiamen Tungsten Co., Ltd. Reports Earnings Results for the Half Year Ended June 30, 202..
CI
08/24Xiamen Situo Yuneng Technology Co., Ltd. announced that it expects to receive CNY 95 mi..
CI
08/17Xiamen Tungsten Plans To Sell 60% Stake In Property Development Unit
CI
08/04XIAMEN TUNGSTEN : XTC New Energy Skyrockets 422% in Shanghai STAR Market Debut
MT
07/05SHANGHAI STOCK EXCHANGE B SHARES IND : China Approves Four IPOs in Shanghai, Shenzhen
MT
More news
Financials
Sales 2021 29 021 M 4 575 M 4 575 M
Net income 2021 1 599 M 252 M 252 M
Net Debt 2021 - - -
P/E ratio 2021 25,9x
Yield 2021 0,65%
Capitalization 35 093 M 5 511 M 5 532 M
Capi. / Sales 2021 1,21x
Capi. / Sales 2022 1,12x
Nbr of Employees 13 819
Free-Float 50,3%
Chart XIAMEN TUNGSTEN CO., LTD.
Duration : Period :
Xiamen Tungsten Co., Ltd. Technical Analysis Chart | 600549 | CNE000001D15 | MarketScreener
Technical analysis trends XIAMEN TUNGSTEN CO., LTD.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 2
Last Close Price 24,74 CNY
Average target price 37,86 CNY
Spread / Average Target 53,0%
EPS Revisions
Managers and Directors
Gao Chao Wu General Manager & Director
Bing Xian Zhong Chief Financial Officer & Deputy General Manager
Chang Geng Huang Chairman
Ji Song Xu Chairman-Supervisory Board
Mao Chun Hong Independent Director