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    300919   CNE1000049X9

CNGR ADVANCED MATERIAL CO.,LTD.

(300919)
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End-of-day quote Shenzhen Stock Exchange  -  2023-01-19
76.19 CNY   +4.66%
2022CNGR (Hong Kong) New Material Technology Trading Co., Ltd. announced that it expects to receive HKD 1.872 billion in funding from CNGR Advanced Material Co.,Ltd.
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2022Indonesia faces difficult task to create OPEC-like group for nickel
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2022CNGR Advanced Material Co.,Ltd. announced that it has received CNY 4.307296507 billion in funding from a group of investors
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Indonesia faces difficult task to create OPEC-like group for nickel

11/18/2022 | 09:12am EST

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Nickel production more fragmented than oil

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China retains leverage over Indonesia in nickel -Citi

LONDON, Nov 18 (Reuters) - Indonesia's proposal to create an organisation to control nickel output and prices along the lines of OPEC would be an uphill struggle, industry analysts say, as production is controlled by privately-owned companies and not governments.

The proposal to "coordinate and integrate nickel policy" in the way that OPEC does, to ensure nickel producing countries optimise their returns, was made this week by Indonesia's investment minister in talks with Canada.

However, oil companies in many Organization of the Petroleum Exporting Countries (OPEC) such as Saudi Arabia are owned by the government while in countries such as Nigeria contracts stipulate that the government can tell private companies to adjust production.

"In OPEC, oil production is essentially a 'country'-run business...production can be increased or decreased by a relatively small group to influence the global situation," said Wood Mackenzie analyst Andrew Mitchell.

"In nickel its more disparate – although Indonesia obviously controls a lot of output, there are large producers elsewhere."

Canada produced 130,000 tonnes of nickel in 2021, according to U.S. Geological Survey (USGS). It is "very unlikely" to participate in any OPEC-like group, a Canadian source familiar with the discussions said on Thursday.

Indonesia is expected to produce between 1.25 and 1.5 million tonnes of nickel this year, more than 40% of world mined production estimated at between 3 million to 3.2 million tonnes.

Most of the nickel produced in Indonesia is controlled by Chinese companies such as Tsingshan Holding Group, CNGR Advanced Material and Zhejiang Huayou Cobalt.

"Important to note is that China retains leverage over Indonesia with regards to nickel. China is not just a key consumer of Indonesian nickel," said Citi analyst Tom Mulqueen.

"China-linked companies also have a dominant ownership stake in Indonesia’s nickel industry, representing an important source of investment and expertise for its development."

BATTERY DEMAND GROWING FAST

Other top nickel producing countries include the Philippines accounting for 370,000 tonnes last year and Russia for 250,000 tonnes, according to USGS.

USGS data shows New Caledonia produced 190,000 in 2021 and Australia 160,000 tonnes.

Nickel producing companies include Vale with 168,000 tonnes last year and Glencore with 102,300. BHP Group's output in the 12 months to June 2022 was 77,000 tonnes.

Around two-thirds of global nickel production is used to make stainless steel mostly in mills located in China.

The use of nickel in electric vehicle batteries is also growing fast - amounting to nearly 15% of the total this year and expected to reach 20% by 2025 and nearly 35% by 2030.

"Geopolitics is starting to play an outsized role in the development of the battery supply chain, with Indonesia largely falling into the Chinese sphere and Canada in the U.S.," said Greg Miller, an analyst at Benchmark Mineral Intelligence.

"I sense geopolitical considerations would override the influence of any OPEC style organisation." (Reporting by Pratima Desai; editing by Emelia Sithole-Matarise)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP LIMITED 0.61% 49.54 Delayed Quote.8.57%
BRENT OIL -1.57% 86.05 Delayed Quote.1.71%
CNGR ADVANCED MATERIAL CO.,LTD. 4.66% 76.19 End-of-day quote.16.13%
GLENCORE PLC -0.24% 548.2 Delayed Quote.-0.76%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 1.23% 70.627 Delayed Quote.-3.48%
VALE S.A. -2.73% 95.32 Delayed Quote.7.59%
WTI -2.02% 79.45 Delayed Quote.0.75%
ZHEJIANG HUAYOU COBALT CO.,LTD 0.93% 65 End-of-day quote.16.84%
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Financials
Sales 2022 27 703 M 4 084 M 4 084 M
Net income 2022 1 550 M 229 M 229 M
Net Debt 2022 8 504 M 1 254 M 1 254 M
P/E ratio 2022 32,1x
Yield 2022 0,47%
Capitalization 51 096 M 7 532 M 7 532 M
EV / Sales 2022 2,15x
EV / Sales 2023 1,38x
Nbr of Employees 7 127
Free-Float 38,0%
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Last Close Price 76,19 CNY
Average target price 138,83 CNY
Spread / Average Target 82,2%
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Managers and Directors
Wei Ming Deng Chairman & President
Zong Yuan Zhu Chief Financial Officer
Qi Zhong He Chairman-Supervisory Board
Yue Cao Independent Director
Wei Li Independent Director
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