Wire and Cable Factory Huaxin (1605-TW) announced that it will join hands with Tsingshan Group to enter Indonesia, step into the development of the world’s largest nickel mine, and further expand the fields of electric vehicles and energy storage through the layout of matte nickel. In addition, the first quarter revenue reported a success, attracting foreign capital to buy more than 4 consecutive days. It hit 39.2 yuan on May 1, and ended at 38.75 yuan, a new high in 27 years and a weekly increase of 33.6%.
Huaxin is optimistic about the trend of green energy, investing in nickel for batteries, energy storage equipment, etc., respectively, from Ever Rising Limited and Berg Holding Limited, which are owned by Tsingshan Group, to acquire 50.1% equity of Indonesia PT. U.S. dollars to invest in a nickel matte plant and a power plant in Weidabei Qingshan Industrial Park, Indonesia.
Rising Sun is building 4 matte/RKEF (Rotary Kiln Electric Furnace) production lines, and 1 self-owned power plant with an hourly power generation capacity of 380,000 KWH. The construction of the plant is expected to be completed by the end of this year, and the self-owned power plant is expected to be the second in 2023. Season completed.
Huaxin said that before the completion of the construction, it is expected to provide another 180 million US dollars in construction funds according to the shareholding ratio. Rising Sun will produce and sell all the products in 2023. It will be able to produce 55,000 tons of pure nickel metal every year, which is important for the company’s layout of the new energy industry. step.
In addition, in order to grasp the stable supply of raw materials for stainless steel production, Indonesia Huaxin Nickel Co., Ltd. was established at the end of 2019.
The company cooperated with Tsingshan Group to build a nickel pig iron plant and power plant in the PT. Indonesia Morowali Industrial Park in Indonesia to develop nickel pig iron, an upstream raw material for stainless steel. Currently, four production lines have been put into operation and mass production in the second half of last year, and they have made profits.
Huaxin pointed out that this time it has acquired more than half of Rising Sun’s equity and invested in the construction of matte nickel production lines and power plants. In the future, the overall nickel output is expected to increase by 70% to 68,000 tons, which will be used by manufacturers of stainless steel, EV electric vehicles and energy storage equipment. .
Huaxin’s March revenue exceeded 16 billion yuan, a new high for the same period, with a monthly increase of 23.1% and an annual increase of 40.41%; the cumulative first-quarter revenue was 42.566 billion yuan, reaching a new high in the same period in the past four years, with a quarterly decrease of 8.3% and an annual increase 47.52%, the legal person is optimistic, the price of stainless steel rose sharply in April, and the operation in the second quarter can be expected.