7 stories mentioning SHA:603799Updated 30d ago
Every FINWIRES story that references SHA:603799, newest first.
Zhejiang Huayou Cobalt (SHA:603799) issued super short-term commercial paper worth 1 billion yuan, according to a Tuesday disclosure on the Shanghai bourse.The bonds have an interest rate of 1.75% and a term of 270 days.The Chinese battery manufacturer's shares dropped 3% during the midday trade.
Zhejiang Huayou Cobalt (SHA:603799) proposed to add the group's related-party transactions for the year by 1.14 billion yuan, according to a Shanghai bourse filing on Wednesday.The total amount for the year would be raised to 1.16 billion yuan.The board of directors approved the plan.The Chinese battery manufacturer's shares dropped 4% during the afternoon trade.
Zhejiang Huayou Cobalt's (SHA:603799) attributable profit rose 68% to about 6.30 billion yuan in the first half from 3.74 billion yuan in the year-ago period, according to a Wednesday filing with the Shanghai Stock Exchange.Earnings per share at the cobalt supplier increased to 1.86 yuan from 1.51 yuan in the prior-year period.Operating revenue grew 49% year over year to 55.6 billion yuan from 37.2 billion yuan.Shares in the cobalt supplier fell 4% during afternoon trading on Wednesday.
Zhejiang Huayou Cobalt (SHA:603799) completed the issuance of its ninth tranche of super short-term commercial paper for the year, raising 1 billion yuan, according to a Shanghai bourse filing on Tuesday.The notes carry a coupon rate of 1.82% and have a maturity term of 270 days.Proceeds will be used to pay the Chinese battery manufacturer's debt.The company's shares dropped 3% Tuesday morning.
Zhejiang Huayou Cobalt (SHA:603799) will purchase Australian miner Atlantic Lithium (ASX:A11) and its lithium assets in Ghana for about $210 million.The purchase comes as the war in Iran could raise demand for lithium, a key component in electric vehicle batteries, Nikkei Asia reported separately on Friday.Huayou will purchase the shares through a scheme of arrangement of $0.25486 per share, equivalent to 26.6% premium to Atlantic Lithium's last close of AU$0.280 per share, according to a filing with the Australian Securities Exchange on Thursday.South African company Assore International, Atlantic Lithium's largest shareholder, will vote in favor of the proposal.Atlantic Lithium, together with Elevra Lithium (ASX:ELV), control the Ewoyaa lithium mine in Ghana, which is expected to produce 3.6 metric tons of spodumene concentrate, a high-purity lithium aluminum silicate, over a mine life of 12 years, according to a previous announcement.The purchase "acknowledges Ewoyaa as a highly attractive hard rock lithium asset capable of serving the growing global electric vehicle and energy storage markets," Atlantic Lithium CEO Keith Muller said."The acquisition of the Ewoyaa Lithium Project complements our existing battery metal mining operations in Africa and represents a logical transaction for Huayou as we continue to build a new energy materials business," Chairman Chen Hongliang said.While cobalt is Huayou's main product, the Chinese miner also produces lithium, with sales rising 12% to 3.44 billion yuan, Nikkei reported.Huayou is the owner of the Arcadia lithium mine in Zimbabwe, the newspaper said.Shareholders in the Australian mining company will vote on the scheme in November, with the transaction expected to close in December, according to Atlantic Lithium.
(Updated to include Huayou Cobalt's ticker symbol)Atlantic Lithium (ASX:A11) entered into a binding scheme implementation deed with China-based battery manufacturing firm Zhejiang Huayou Cobalt (SHA:603799) for the acquisition of all of the issued shares in the company through a scheme of arrangement at $0.25486 apiece, according to a Thursday filing with the Australian bourse.The all-cash scheme consideration values the company at about $210 million, the filing said.The board unanimously recommended that shareholders vote in favor of the scheme, in the absence of a superior proposal and subject to an independent expert continuing to conclude that it is in the best interests of shareholders, per the filing.Atlantic Lithium shares rose 11% in afternoon trade on Thursday.
Zhejiang Huayou Cobalt's (SHA:603799) net profit attributable to shareholders in the first quarter jumped 99% to 2.50 billion yuan from 1.25 billion yuan a year earlier, according to a Shanghai bourse filing on Friday.Earnings per share rose 89% year on year to 1.32 yuan from 0.70 yuan.Operating revenue climbed 45% to 25.8 billion yuan from 17.8 billion yuan in the previous year.The battery manufacturer's shares rose less than 3% in morning trade Friday.
