原标题：900亿头大牛股票将增加159亿美元，落后于大股东高抛低买！ 深圳证券交易所：您是否从事短期交易？
概要
[90billionbigbullstockswillincreaseby159billionbehindthemajorshareholderstosellhighandbuylow!ShenzhenStockExchange:Areyouengagedinshort-termtrading?】Nearly90billionlargebullstocksinNewEnergy-TianqiLithiumarecentannouncementmadeinvestorsexplodeThecontrollingshareholdersreducedtheirholdingsathighpositionswhileincreasingatlowpricesTheoperationofsellinghighandbuyinglowcausedalotofdiscussioninthemarketDuringtheweekendtheShenzhenStockExchangeissuedaletterofconcern(SecuritiesTimes)
New energy nearly 90 billion big bull stocks——Tianqi Lithium, A recent oneannouncementLet the investors blow up the pot.
HoldingshareholderWhile reducing holdings at a high position, while increasing at a low price, the operation of selling high and buying low caused a lot of discussion in the market. At the weekend, the Shenzhen Stock Exchange issued a letter of concern.
Come and see what happened?
Tianqi LithiumThe proposed increase in fundraising will not exceed 15.9 billion yuan, and the issue price is 35.94 yuan
Full subscription by the controlling shareholder
On the evening of the 15th,Tianqi LithiumAccording to the announcement, the proposed additional fundraising will not exceed 15.926 billion yuan and will be used allthe companyrepaybankLoans and supplementary working capital to optimize the company’s asset-liability structure, improve asset quality, reduce financial risks, and improve financial conditions.
The target of this non-public offering of shares is the company’s controlling shareholder Tianqi Group or itsWholly-owned subsidiary,issuedpriceIt is 35.94 yuan/share.
This fixed increasePricingThe price is 35.94 yuan/share, and the announcement stated that it shall not be less than 80% (ie 35.94 yuan/share) of the company’s stock trading average price (ie 44.92 yuan/share) on the twenty trading days before the pricing base date.
This timeAdditional issuanceThe target is Tianqi Lithium’s own controlling shareholder Tianqi Group or its wholly-owned subsidiary. The target of the issuance will use its own funds and self-raised funds to subscribe for the fixed increase stocks in cash.After deducting the issuance costs, all will be used for repayment by the listed companybankLoans and supplementary working capital.
As of the date of the issuance of this plan, Tianqi Group holds 444 million shares of Tianqi Lithium, accounting for 30.05% of the total equity of the listed company; after the completion of the issuance, Tianqi Group is expected to hold 887 million shares of Tianqi Lithium. Shares, not exceeding 46.19% of the total share capital of the listed company.
Why does Tianqi Lithium need to issue huge additional?
Since 2020, Tianqi LithiumM&ASQM fell into a debt crisis, with nearly $1.9 billion in debt due at the end of November of that year.crucial moment, On the evening of December 8, Tianqi Lithium issued an announcement that Tianqi Lithium and the syndicate signed the “Modified and Restated Loan Agreement” to extend the repayment period of the total debt of 1.884 billion US dollars in M&A loans to November 26, 2021 day.
SQM is engaged in the resource development and utilization of Chilean Atacama Salt Lake.Atacama Salt Lake has high lithium concentration, large reserves, mature mining conditions and low operating costs. It is a global salt lake resource with superior endowment and global lithiumproductAn important producing area.With the development and utilization of the salt lake resources in recent years, this area has become a global lithium industryenterpriseThe key development areas and resource reserve bases. In order to actively seize market opportunities from a long-term development perspective, consolidate the company’s industry position, maintain continuous market competitiveness, and obtain sustained and stable investment returns, Tianqi Lithium completed the purchase of 23.77% of SQM’s equity in 2018.
What followed was a sharp increase in financial expenses. Tianqi Lithium added 3.5 billion US dollars to complete the acquisition of SQM equity.borrowAnd lead toInterest expenseEven increased several times.Debt FinancingSignificant increase in scale has affected Tianqi Lithium’s operations to a certain extentPerformance, The high debt-to-asset ratio has also led to excessive leverage of listed companies and limited future debt financing capabilities.
As of September 30, 2020, Tianqi Lithium has short-term loans of 3.132 billion yuan, non-current liabilities due within one year of 13.305 billion yuan, long-term loans of 13.026 billion yuan, payableBond2.026 billion yuan; the last three years and the first phase, the financial expenses were 55 million yuan, 471 million yuan, 2.028 billion yuan and 1.286 billion yuan. For the whole year of 2019 and the first three quarters of 2020, the company was netLossRMB5.98 billion yuan and 1.103 billion yuan.
Today, if Tianqi Lithium can successfully obtain 15.9 billion yuan from the controlling shareholder Tianqi GroupCapital increaseGold, then the listed company will undoubtedly effectively solve the debt problem. Tianqi Lithium stated that if the fixed increase is successfully completed, it will optimize the asset-liability structure of listed companies, improve asset quality, reduce financial risks, and improve financial conditions.
First reduce holdings and then increase controversy
Benefit from new energy vehiclesindustryThe overall prosperity of the chain, and stimulated by this good news, the stock price of Tianqi Lithium has recently rebounded strongly. The latest data shows that the stock has a daily limit on Friday, closing at 59.76 yuan, trading 8.558 billion yuan, and the latest market value as high as 88.27 billion yuan. In the previous month, Tianqi Lithium’s stock price started to rise, and the cumulative increase as of today has exceeded 200%.
It is worth noting that the issue price of Tianqi Lithium’s non-public offering of shares is 35.94 yuan/share, a significant discount to the price of 59.76 yuan/share in the secondary market.
Before the release of the fixed increase plan, the company had disclosed a share reduction plan. Tianqi Lithium issued an announcement on January 6, stating that the controlling shareholder Tianqi Group and its concerted parties will reduce their holdings of no more than 4% of the company’s total share capital. The reason for the reduction is to provide the company with financial assistance and other capital needs. .
It has just reduced its holdings of sold stocks and issued this subscription plan for additional subscriptions. This has also aroused market attention, and some opinions even questioned it as a short-term transaction. One side is the high position reduction, and the other side is the low position increase to get the shares back, but the price difference in the middle is so large.
But then some analysts think so.
The Shenzhen Stock Exchange quickly issued a letter of concern
Is it a short-term transaction? Does it harm small and medium shareholders?
On January 16, 2021, the Shenzhen Stock Exchange issued a letter of concern to Tianqi Lithium.
It is mentioned that, as of now, Tianqi Group holds 443,796,114 shares of the company, accounting for 30.05% of the company’s total share capital. After the issuance is completed, Tianqi Group is expected to hold 886,916,114 shares of the company, which will not exceed 46.19% of the company’s total share capital.Please take into account the situation of Tianqi Group’s shareholding reduction in the six months before the announcement of the board of directors’ resolution (including but not limited to the previous reductions in price, quantity, amount, and proportion of shares), and compare the fixed increase price, specifying: ) HoldingShareholder reductionLater, whether the behavior of subscribing to the company’s non-public offering of shares actually constitutes a short-term transaction and will harm the interests of small and medium shareholders of the listed company; (2) Please self-check whether the information disclosure of the controlling shareholder’s share reduction complies with the relevant laws and regulations. The company’s sponsor and lawyers are required to express clear opinions after verification.
(Source: Securities Times)
(Editor in charge: younannan)
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