Public And Share Seize Lithium Mineral Materials, Now Grasp The Profit.

Zhonghe shares: lithium ore is "now", material is "future".

Taking into account 2015

The progress of the mine will accelerate. Meanwhile, the supply of the global lithium mines is tight, and the price of the lithium ore is expected to continue to rise. Therefore, experts predict that the profits of the public and the shares will be raised.

According to experts estimate that 2014-2016 years EPS were 0.06/0.20/0.34 yuan (previously 0.06/0.15/0.24 yuan), referring to comparable company valuation level, taking into account the scarcity and high growth of the lithium ore produced by the company put into operation, experts continue to raise the target price to 16.48 yuan / share (+30%), space 44%, maintain overweight rating.

Lithium ore production accelerated, performance contributed significantly.

Our early industry in-depth report "limited supply of global lithium resources, price increases will continue", put forward: the next two years, new lithium resources supply shortage, the rapid growth of downstream demand is expected to pull lithium prices continue to rise.

We expect that the Jin Xin mining operation of Barkam will accelerate. In 2015, the ore processing capacity will reach 450 thousand tons, and the output of lithium concentrate will be 77 thousand tons. It will become the second largest lithium mine supplier in the world, benefiting from the volume and price rise, and the performance will contribute 100 million yuan.

Will speed up.

By holding Shenzhen Tianjiao (70% stake) and participating in Tianjin's BMO (19% stake), the company has become the leading material in China, especially the three yuan material.

With the continuous increase of mileage requirements, in the field of power batteries, the high energy density of three material path is expected to accelerate the replacement of lithium iron phosphate path.

At the same time, at present, three yuan material suppliers are mainly concentrated overseas, and domestic substitution has the advantages of cost and industrial chain. The domestic three yuan materials will have broad space for development in the future.

At the same time, the company plans to increase the shareholding ratio of Tianjin's Ba Mo, and will gradually reduce its current unprofitable business and accelerate the expansion of the field of materials.

The commissioning of the mine accelerated.

Progress will be a catalyst for continuous growth of company performance.

In recent years, the company has made a series of adjustments to speed up the pace of high interest rate business, and gradually adjust and shut down the business that does not make money, and enhance the profitability of the company's business.

At the same time, the company also has some risks, that is, the uncertainty of putting into operation of mineral resources. This uncertainty is manifested in the risk that the output of the mineral is less than expected.

Although there is a certain risk, the future of the public and shares is still optimistic.