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4-Traders Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  Tianqi Lithium Corp    002466   CNE100000T32

TIANQI LITHIUM CORP (002466)
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China's Sinochem says no plans to bid for stake in Chilean lithium producer SQM

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10/24/2017 | 04:34am CET

China's state-owned Sinochem Group [SINOC.UL] on Tuesday appeared to deny a media report that it was bidding for a stake in Chilean lithium producer SQM (>> Sociedad Quimica y Minera (A Share)) being sold by Canada's PotashCorp (>> Potash Corporation of Saskatchewan Inc).

China's state-owned Sinochem Group [SINOC.UL] on Tuesday appeared to deny a media report that it was bidding for a stake in Chilean lithium producer SQM (>> Sociedad Quimica y Minera (A Share)) being sold by Canada's PotashCorp (>> Potash Corporation of Saskatchewan Inc).

"Up until now, neither Sinochem Group nor our subsidiaries have had such intentions or plans," the company said in response to a request for comment from Reuters.

The Financial Times reported on Monday that Sinochem, a Beijing-based chemicals and oil conglomerate, was among four Chinese bidders for a $4 billion stake in Chile's Sociedad Quimica Y Minera (SQM), one of the world's largest lithium producers. It cited people familiar with the process.

Lithium is a key raw material for batteries in electric vehicles, which are enjoying a massive rise in popularity in China.

The other Chinese bidders named by the Financial Times were Ningbo Shanshan (>> Ningbo Shanshan Co., Ltd), Tianqi Lithium and GSR Capital.

Ningbo Shanshan also said that it was not participating in a bid to acquire equity in SQM, while Tianqi Lithium (>> Tianqi Lithium Industries Inc) and GSR Capital did not respond to requests for comment.

Potash Corporation of Saskatchewan Inc was in September reported to have hired Goldman Sachs and BofA Merrill Lynch to explore selling its 32 percent stake in SQM.

(Reporting by Tom Daly; Editing by Joseph Radford)

By Tom Daly

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Financials ( CNY)
Sales 2017 5 199 M
EBIT 2017 3 286 M
Net income 2017 2 108 M
Debt 2017 1 814 M
Yield 2017 0,40%
P/E ratio 2017 31,30
P/E ratio 2018 26,36
EV / Sales 2017 13,0x
EV / Sales 2018 11,1x
Capitalization 65 787 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 76,2  CNY
Spread / Average Target 15%
EPS Revisions
Managers
NameTitle
Wei Wu General Manager & Director
Wei Ping Jiang Chairman
Qing Yang Chairman-Supervisory Board
Jun Zou Director, Chief Financial & Accounting Officer
An Qi Jiang Director
Sector and Competitors
1st jan.Capitalization (M$)
TIANQI LITHIUM CORP9 982
INDUSTRIAS PENOLES SAB DE CV8.49%8 925
JIANGXI GANFENG LITHIUM CO LTD--.--%8 077
GEM CO LTD--.--%4 165
AURUBIS29.05%3 750
MITSUI MINING AND SMELTING CO LTD2,250.17%3 595