Wanli Stone proposes to build lithium carbonate production line 12-06-2022

Summary: With plans to develop the upstream sector of the li-ion battery industry chain, stone supplier Wanli Stone intends to build a 5,000 t/a battery-grade lithium carbonate production line.

According to a statement from Xiamen Wanli Stone Stock Co., Ltd. (Wanli Stone) on 4 Nov., the holding affiliate Golmud Wanli New Energy Co., Ltd. (Golmud Wanli New Energy), which was incorporated by its holding subsidiary Wanli (Xiamen) New Energy Resources Co., Ltd. (Wanli New Energy Resources), proposed to invest in the building of a 5,000 t/a battery-grade lithium carbonate production line (hereinafter referred to as Lithium Carbonate Project). The Lithium Carbonate Project is estimated to cost approximately USD27.75 million (RMB200.00 million), be developed in 2 phases, and have a floor area of 10 mu. With an anticipated expenditure of roughly USD11.10 million (RMB80.00 million), the first phase will consist of one 2,000 t/a battery-grade lithium carbonate production line in 8 months. After the first phase project is put into production, the second phase will commence depending on the locking of raw materials.


On the same day, Wanli Stone also announced that Wanli New Energy Resources intended to establish Salt Lake Resource Development JV with Xinjiang Geology and Mineral Investment (Group) Co., Ltd. (Xinjiang Geology and Mineral Investment Group) and Xinjiang Baoxin Kunlun Mining Co., Ltd. (Xinjiang Baoxin Kunlun). Wanli New Energy Resources was supposed to contribute a total of USD1.62 million (RMB11.70 million) with its funds, accounting for 39% of the JV's registered capital.


It is reported that, as early as H1 2022, Wanli Stone has been deepening its core stone business while also branching out into the new energy sector and the li-ion battery industry chain.


Wanli Stone's business data in Q1-Q3 2022:

  • Revenue: USD125.41 million (RMB904 million), up 10.47% YoY
  • Net profit attributable to shareholders of the listed company: USD0.85 million (RMB6.13 million), down 64.18% YoY
  • Net profit attributable to shareholders of the listed company after deducting non-recurring gain or loss: USD0.52 million (RMB3.76 million), down 76.81% YoY


More information can be found at CCM Li-ion Battery China Monthly Report.

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