Weihua Limited enters lithium an rare earth industries
2017-03-14 17:53:57 [Print]
Guangdong Weihua Limited declared that it has successfully turned loss into profits for its old business sector (its net profit in 2016 amounted to RMB23.41 million). In 2016, the company entered lithium and rare earth industries by becoming the controlling shareholder of Zhiyuan Lithium and Wanhong High-tech Materials.
Holding 51.22% of shares of Zhiyuan Lithium, Weihua Limited will have annual capacities including 20,000t of lithium chloride, 10,000t of battery-grade lithium hydroxide, and 10,000t of battery-grade lithium carbide in the future. Once those projects, which are under construction now, go into operation in 2017 and reach full capacity in 2020, the company will realize an annual revenue of RMB2.222 billion and an annual net profit of RMB247 million.
The company now holds 51% of shares of Wanhong High-tech Materials, which engages in recycling rare earth products from magnetic products, with an annual processing capacity of 12,000t of magnetic products. Once the on-going equipment debugging and trial product come to an end, the project is expected to produce 2,041t of rare earth oxide and realize an annual revenue of RMB614 million, with a net profit of RMB88.60 million.
Holding 51.22% of shares of Zhiyuan Lithium, Weihua Limited will have annual capacities including 20,000t of lithium chloride, 10,000t of battery-grade lithium hydroxide, and 10,000t of battery-grade lithium carbide in the future. Once those projects, which are under construction now, go into operation in 2017 and reach full capacity in 2020, the company will realize an annual revenue of RMB2.222 billion and an annual net profit of RMB247 million.
The company now holds 51% of shares of Wanhong High-tech Materials, which engages in recycling rare earth products from magnetic products, with an annual processing capacity of 12,000t of magnetic products. Once the on-going equipment debugging and trial product come to an end, the project is expected to produce 2,041t of rare earth oxide and realize an annual revenue of RMB614 million, with a net profit of RMB88.60 million.
Lithium Metal 99.9%min Delivered China
Unit:RMB/mt
China‘s lithium nickel cobalt manganese oxide producers' inventory to production ratio statistics by province by month
Unit: %
