Regarding the transferred shares, Xiang Yanzao said that due to investment demand, he was optimistic about the company's development prospects in the field of compound fertilizer business and highly recognized the company's development strategy. He hopes to help the company become bigger and stronger and further enhance its profitability and competitiveness with the help of his own resource advantages.
: Batian shares-heavy phosphate rock+skyrocketing nitric acid price+leading raw material supplier of lithium ferrous phosphate+annualized PE2. 1 1.
1, phosphate rock resources are greatly underestimated. In May 2020, the company obtained the mining right of Xiaogaozhai Phosphate Mine in Weng 'an County, Guizhou Province, with a reserve of about 70 million tons and a designed production capacity of 2 million tons. It is expected to be put into production in June next year. Compared with other phosphorus chemical enterprises, the value of the company's phosphorus is obviously underestimated.
2. The price of nitric acid hit a new high of nearly 10, which is expected to replicate the phosphoric acid market. Batian Co., Ltd. has a 270,000-ton nitric acid plant (100% shut-down) and adopts the latest international double pressurization process, which is the first plant in China that can directly produce dilute nitric acid with a concentration of 68%. The price of nitric acid has reached a new high in ten years. At present, the net profit per ton of 98% concentrated nitric acid is about 1 10,000 yuan. Assuming all exports, the current annualized net profit is 270 million yuan.
3. It is of great significance for the company to become a supplier of nitric acid for leading enterprises of lithium ferrous phosphate. The company's nitric acid plant is the largest single nitric acid preparation plant in China. Due to advanced equipment and high cost, the quality of nitric acid prepared is high. According to the feedback, the company's high-quality nitric acid has the ability to supply leading enterprises of lithium ferrous phosphate. At present, a leading enterprise in the downstream has started purchasing, and it is expected to increase the number in the future. Because there are certain requirements for nitric acid content, this significance is no less than the value of phosphate rock to iron phosphate.
4. Performance: The annual profit of nitric acid is 270 million yuan. If the net profit of 2 million tons of phosphate rock next year is not lower than that of 200 yuan, the net profit will not be lower than 400 million yuan. After the compound fertilizer is greatly expanded in the next two years, the profit is expected to reach 300 million yuan. The price of calcium ammonium nitrate has soared recently, with an annualized profit of 1 100 million yuan, and the total annualized profit exceeds 1 100 million yuan, which is less than four times of the corresponding valuation, which is very flexible.