Liu Wei hesitated for a while, and then said in a deep voice: "It's not that we have plans, but the situation is compelling, and our group has to seek a breakthrough in the strategic policy of development." ”

"As Mr. Su said......"

"Our group does not have lithium resources, and due to cost considerations, it is overly reliant on a single supplier in terms of raw material suppliers."

"And now this supplier, the most extreme situation has occurred."

"Due to the continued downturn in the industry's prosperity and the pessimistic expectations of various investment institutions for this industry, relevant industrial chain companies, whether upstream lithium resource companies, or manufacturing enterprises like our group, or downstream product terminal manufacturing and sales enterprises, have had a hard time in the past two years."

"Our group can only maintain the edge of profit and loss through continuous asset weight reduction and cost compression."

"Our important lithium resource supplier, the 'Australian Talison Mining Company', has been completely in a state of loss due to the failure of foreign investment, the continuous decline in lithium ore prices, and the rise in labor costs, and the 'Talison Mining Company' is ready to sell its equity."

"Learned about this situation in Talison......"

Liu Wei paused and continued: "We, Chairman Jiang, have sensed that the strategic opportunity to reverse the group's business environment and gain the right to speak in the industry has arrived. ”

"You want to take advantage of the loss of 'Talison' and the other party has plans to sell the equity to carry out mergers and acquisitions?" Su Yu said, "Good idea, if Tianqi Lithium wants to break the situation and get rid of the current business predicament, it can only merge lithium resource enterprises upwards in order to open up new development space. ”

Liu Wei smiled bitterly and said: "Mr. Su only said the good aspects, in fact, the merger and acquisition of 'Talison' is not only the only direction for us to break the business environment of 'Tianqi Lithium', but also one thing we have to do and have to do." ”

"Because in terms of global lithium resources......"

"Australia, China and Chile are relatively rich in lithium resources."

"However, although China's lithium resources are abundant, the lithium ore grade is indeed low, the mining is difficult, and the production cost is high!"

"This is also the reason why we had to choose to cooperate with 'Talison', and in view of the company's cost considerations and development considerations, 'Talison' has gradually become our company's largest and even a single supplier."

"Now, there's an extreme problem with 'Talison.'"

"As you said, if it is acquired by other lithium resource giants, then the global lithium resources will be further concentrated, and in the face of the new takeover, if the negotiation fails, the other party will directly cut us off from the raw material side, then the group's business risk will increase sharply, and even unsustainable, directly to bankruptcy."

"So, in order to avoid this situation, for the survival of the company."

"At this juncture, we have to initiate the acquisition of 'Talison'."

"However, the size of 'Talison' is far larger than our 'Apocalypse Lithium', and if we want to eat it, it is tantamount to swallowing an elephant with a snake."

"Based on the current market valuation, what is the volume of 'Talison'?" Su Yu interjected and asked.

Liu Wei replied: "After the thunderstorm of 'Talison', although the stock price has fallen a lot, with the fair valuation of its shares listed in Australia, in order to achieve 100% equity acquisition, the required funds should be about 4 billion, but the current total assets of our 'Tianqi Lithium' are only about 1.5 billion, and the market value is only about 2.5 billion, which is basically only equivalent to one-half of 'Talison', and the current debt ratio of our group is not low, in this case...... It is extremely risky and extremely difficult to complete the acquisition of the snake swallowing the elephant. ”

"But this thing has to be done."

"Because if we don't do it, we lose this strategic opportunity, and for us, it's just equivalent to chronic suicide."

"With total assets of 1.5 billion yuan and a high debt ratio, it is a suicidal acquisition to swallow a company that is at least twice the size of itself." Su Yu said, "You are a big gamble, and it's a big gamble that presses everything and doesn't care about life and death." ”

"Hmm!" Liu Wei nodded and responded, "It's indeed a big gamble, but in this gamble, we are dead if we don't play the table, but we have a lot of chances to win when we go to the table." ”

"Chairman Jiang said that 'lithium' is the lightest metal on the periodic table."

"No matter how the development direction of the industry breaks through in the future, he firmly believes that the use of this metal element will shine, and the current technology of 'lithium battery' is not advancing by leaps and bounds?" The concept of 'new energy' has also been mentioned and favored by many institutions, and I believe in Chairman Jiang's judgment. ”

"And, even if you don't talk about the future prospects."

"In terms of the lithium resources controlled by 'Talison' itself, it is definitely cost-effective to purchase it at a price of about 4 billion at this time of crisis."

Su Yu thought about it and bowed slightly.

Global lithium resources, to a large extent, are mainly distributed in Australia, Chile and China, but to a small extent, they are mainly in the hands of Talison, SQM, Lockwood, FMC four lithium mining giants, according to the current proportion of global lithium suppliers, these four suppliers, together account for more than 90% of the global market share.

Among them, 'Talison' occupies the world's highest-quality and best-grade 'spodumene mine' resources, and the mining cost and ore utilization rate are the highest among the few.

It's just that now, the use of 'lithium' in the market is very small, and the overall market size is not large.

For the distribution of lithium ore resources and the market share of the major giants, it does not matter who accounts for how much for most investment institutions and operating enterprises that only take market size and profits as the measurement criteria.

After all, the market size is small and the profits are low.

What if it's an exclusive one? In the case that the market demand can't get up, it still can't make much money.

Therefore, for the strategic layout of this industry, at this point in time, few people have this kind of vision, and even fewer people have the strength of the layout.

"So, you've launched a plan to acquire Talison?" Su Yu asked.

Liu Wei nodded and said: "Yes, it was launched two months ago, because 'Talison' is the most important raw material supplier of our 'Apocalypse Lithium', and the two of us have been cooperating for many years and have a good relationship with each other, so when 'Talison' had a crisis, we intervened as soon as possible." ”

"In the past two months, we have established a subsidiary in Australia, Winfield."

"And using Winfield Investments, on the Toronto Stock Exchange, through secondary market trading, has acquired a 19.99% stake in 'Talison'."

"But due to the lack of liquidity within the group."

"After we reached the critical point of increasing our shareholding in the secondary market, even if Chairman Jiang mortgaged all his assets and pledged all his shares, it was still not enough to raise funds to launch a general tender offer for 'Talison'."

"Due to the high debt ratio of the group, and the central bank has tightened the monetary policy in order to curb the market inflation rate this year, the entire market macro side is insufficient, and the bank is unwilling to lend us more funds for this merger and acquisition under the tightening of liquidity."

"So...... Did you find an agency? Su Yu asked.

Liu Wei paused for a while and said: "If this is the case, I will not go around looking for institutions to raise money, after all, Mr. Jiang later found the leader of Huajin Company, and a lot of bad things said, finally scraped together some funds, and basically completed the acquisition plan we originally formulated." ”

"But how do you know ......?"

"We have just raised funds that can basically support the merger and acquisition, and we are preparing to negotiate with 'Talison' and launch a comprehensive merger and acquisition."

"'Talison' suddenly negotiated with another giant company in the lithium resources industry, namely Lockwood of the United States."

"After preliminary negotiations between the two parties, Lockwood is willing to acquire 100% of the common shares of 'Talison' at C$6.5 per share."

"According to the price per share set by Lockwood, the valuation of 'Talison' will increase to about 4.8 billion."

"This equates to a 20% premium to fair value in the market."

"In the face of sudden entry of competitors, if we want to continue to acquire 'Talison', the acquisition cost will be at least 1 billion higher than the original."

Thinkers

"And, coupled with the financial cost of the acquisition, I am afraid that the last 5.5 billion will not be able to stop."

"No wonder!" Su Yu said, "The sudden entry of competitors has increased your funding gap by at least 1.5 billion out of thin air, which is equivalent to the value of a 'Apocalypse Lithium'." ”

"yes!" Liu Wei said, "But since 'Lockwood' has publicly announced the acquisition of 100% of the common shares of 'Talison' for 6.5 Canadian dollars, I am afraid that it will never give in, and if we want to snipe its acquisition, we can only compete at a premium and snatch control of 'Talison'." ”

"But ...... like this"

"In the snatch of control, the premium of the stock price will only continue to soar."

"The cost of capital required for us to acquire 'Talison' will also skyrocket, and no one knows where it will end up."

"Originally, Chairman Jiang and I thought that if in the short term, there would be no intervention from other strong competitors."

"We can also raise funds through a private placement of shares in the secondary market."

"But now Lockwood's strong intervention gives us a very limited time to react, even if we want to raise funds through the secondary market private placement of shares, in the face of the market's long review mechanism, even if the final private placement plan is approved by the regulator, it will be too late."

"So ......"

Liu Wei paused, took a sip of coffee, and continued: "I just came to Yuhang, and I want to ask Qiuyue for help, after all, the 'Anzhao Fund' she is in charge of, backed by the Oriental Group, is also a strong institution in the domestic investment community, but ...... Chairman Wu of the Oriental Group also said that he could not help. ”

"Just when I feel hopeless......"

"Qiu Yue recommended you to me, Mr. Su."

"That's why I said that I originally wanted to visit Mr. Su, but I didn't expect to meet you here today."

"I see!" After listening to this, Su Yu was very emotional.

"Mr. Su thinks ......" Liu Wei stared at Su Yu seriously, carefully observing the changes in the expression on his face, and pondered his words for a while before continuing, "What do you think is a big gamble, do we have a chance for 'Apocalypse Lithium'?" ”

Su Yu thought for a while and did not answer directly, but said: "If Lockwood successfully acquires 'Talison', will the global lithium resources be further concentrated?" And if China wants to break this resource monopoly in the future, will it become more and more difficult? ”

"That's for sure." Liu Wei replied.

"It's so difficult for you to raise money, it seems that the vast majority of people in the country still don't have enough losses in 'iron ore'!" Su Yu sighed, "As Mr. Jiang said, 'lithium', as the lightest metal on the periodic table, will inevitably shine no matter which direction the industry will break through in the future, and I firmly believe in this." ”

"You tell you Mr. Jiang ......"

Su Yu paused for a while and said without hesitation: "This is not a business war for him alone, nor is it the life and death of a company in Tianqi Lithium, but the struggle for the right to speak in the entire lithium resources in the future of our country. ”

"Since you Mr. Jiang believe that the element 'lithium' is very important in the future, then...... Just let go and do it boldly, the funding gap within 3 billion, we'Yuhang Investment' company, can bear it, if 3 billion is not enough, need more funds, I can also help find a way. ”

According to his historical memory.

Despite the difficulties in the early stage, the group and the actual controller tried everything and gambled everything, and failed to fully raise enough funds to compete with the powerful 'Knockwood', but in the end, at the last moment, with the full support of China Commercial Bank and Huajin Company, they still grabbed the control of 'Talison' in the 'Knockwood' comprehensive acquisition plan and successfully sniped ' 'Knockwood' has laid the foundation and foundation for the future competition for Huaguo's right to speak on global lithium resources and the development of the 'new energy' strategy.

So, when the opportunity came.

Whether it is out of self-interest or national interests, there is no reason why he should not support it.

And on the occasion of Su Yukang's indignant speech.

When Liu Wei heard Su Yu's words, she was so excited that she couldn't help but stand up, and stretched out her hand to Su Yu with a slight trembling, the kind of gratitude and admiration was beyond words.

Qin Qiuyue looked at Su Yu blankly, the coffee cup in her hand was frozen in mid-air, and her eyes were full of shock.

She didn't expect that after listening to Liu Wei's brief introduction, Su Yu did not hesitate at all, and shouted out an investment quota of 3 billion in one breath.

You know, 3 billion, you can directly buy Tianqi Lithium!