There are also listed companies that have attracted regulatory attention due to cross-border lithium batteries. Recently, the Shanghai Stock Exchange issued an inquiry letter on the information disclosure of the major asset restructuring draft of Shanghai Zhihui Future Medical Co., Ltd., requesting *ST to further explain and make supplementary disclosure on the acquisition of Ruifu Lithium Industry in the future, including whether the transaction complies with relevant regulations and whether the underlying assets have performance authenticity.
Driven by the booming supply and demand in the new energy vehicle market, the price of lithium battery industry chain has been rising all the way in recent years, attracting many listed companies to succumb to the impulse of "grabbing lithium" across the border. According to incomplete statistics, at least 30 listed companies announced their cross-border involvement in the lithium battery industry chain during the year.
The cake is getting bigger and everyone wants to share it. As long as it is legal and compliant, it is understandable. What's more, some enterprises' cross-border lithium batteries are not impulsive, and their main business does have a synergistic and complementary relationship with lithium batteries; Other enterprises are located in the traditional Red Sea market, with weak performance growth and shrinking profit margins. Actively embracing the new trend of market development and looking for new profit growth points are not only the "self-help" strategy of enterprises, but also the performance of daring to try.
But listed companies flock to the popular lithium-ion circuit. Is the "money way" destined to be great? The answer is no, as the saying goes, interlacing is like a mountain. Compared with the "home-grown" giants in the industrial chain, most listed companies from outside the industry have neither talent accumulation nor technology precipitation. Their traditional main business has nothing to do with lithium batteries, blindly following the trend and investing indiscriminately, which is full of hidden risks.
Whether it is lithium mine mining or lithium battery research and development, it is a complex technical activity, and it is not easy to buy several equipment to produce and make a profit. Whether the enterprise's understanding of technology is in place, whether the product quality can be well controlled, whether it can withstand several years of development cycle and so on. , is a life and death test. In the increasingly fierce competition, whether we can really gain a foothold is still a big question mark.
The risk of cycle inflection point in lithium battery industry has to be prevented. With the pursuit of the market, the price of lithium battery products has been rising all the way. Many cases of listed companies buying lithium batteries this year are at a premium. Once the wind changes in the future, there will be overcapacity in the market, and the price of lithium will inevitably fall. Nowadays, it is still unknown whether listed companies that spend huge sums of money to "grab lithium" can finally recover their costs.
Many listed companies pay "tuition fees" for this. As early as a few years ago, after some companies invested heavily in the acquisition of lithium battery separator company, they could only sell their subsidiaries cheaply because they could not fulfill their gambling commitments; There are also enterprises that mainly produce fibers. After spending billions of dollars to buy a lithium battery company, it quickly encountered poor management problems, dragging down the overall business and hovering on the edge of delisting several times.
It can be seen that the business of cross-border lithium batteries is not good. In fact, some listed companies promote "lithium thinking" in a high profile, not really optimistic about the development of lithium batteries, but more want to take the opportunity to dig a sum of gold. In recent years, there have been frequent hot spots in the capital market, and there are not a few listed companies that follow the trend to lay out the meta-universe and follow the trend. Some companies don't go home until they are drunk. After loudly announcing the cross-border and pushing the company's stock to stop trading, it didn't take long to press the stop button, leaving only a chicken feather.
In response to the cross-border chaos of listed companies, the regulatory authorities have repeatedly voiced their voices, calling on listed companies to keep a clear head, be down-to-earth, and focus on strengthening their main business. However, in order to stop this blind trend, in addition to appealing, we should strengthen guidance, focus on supervising the "three highs" mergers and acquisitions with high valuation, high premium and high performance commitment, strengthen the performance of commitments, and keep a close eye on the control of targets; For behaviors such as rubbing hot spots, it is necessary to strengthen the crackdown, severely punish and urge listed companies to achieve transformation and upgrading around their main businesses.
Market trends are changing at any time, and no enterprise can blindly follow suit to become bigger and stronger. Listed companies should stand higher and see farther, be unwavering when hot spots are frequently switched, and stick to their strategic strength; Don't be impetuous when speculation is prevalent, but always work hard. Only by focusing on the main business and relying on innovation to improve quality and efficiency can we truly enhance our competitiveness, serve the national strategy well and play the due role of the "vanguard" of the national economy.