On the 26th, Yiqiu Metal Resources Recycling (China) Co., Ltd. (“Yiqiu Resources”), a well-known manufacturer of recycled aluminum alloys, issued a plan. The funds raised will be used for the expansion project of aluminum alloy ingots with an annual output of 1.3 million tons in Malaysia.
According to reports, the project was implemented by YCTL, a wholly-owned subsidiary of Yiqiu Resources in Malaysia, and the project was completed in two phases. The total investment of the project is expected to be 4.631 billion yuan, and 1.5 billion yuan of funds to be raised will be invested. Project construction includes construction, equipment installation and commissioning, trial production and other stages. The infrastructure of the project will be completed once, and the equipment will be completed in two phases. The first phase is 650,000 tons and the second phase is 650,000 tons. The construction period of the infrastructure and the first-phase equipment is expected to be 2 years, and the second-phase equipment construction period is expected to be 1 year. .
Yiqiu Resources said that at present, the company is in the key development stage of integrating the upstream and downstream industrial chains and deepening the entire industrial chain of scrapped car recycling. The company will digest it through the construction of the Malaysian project in order to make better use of the high-quality upstream industry resources brought by its acquisition of Metalico, thereby further expanding the company’s raw material procurement radius and integrating upstream and downstream resources.
It is reported that in 2021, the “14th Five-Year Plan for Circular Economy Development” issued by the National Development and Reform Commission requires that by 2025, the output of secondary aluminum will reach 11.5 million tons, and the average annual compound growth rate of domestic secondary aluminum production will reach 2020-2025. 9.22%. The Chinese government has clarified the industrial policy of “carbon neutrality and carbon peaking”, which will further promote the development of the secondary aluminum industry.
The performance report released by Yiqiu Resources shows that in 2021, the company’s operating income will be 8.283 billion yuan, a year-on-year increase of 47.2%; its net profit will be 852 million yuan, a year-on-year increase of 84.43%.
The application of Yiqiu products in the automotive field
Yiqiu Metal Recycling (China) Co., Ltd. is a Sino-foreign joint venture established in March 2001 and listed on the Shanghai Stock Exchange in April 2012. The company’s main business is to use various recycled waste aluminum resources to carry out sorting, processing, smelting and other processes to produce recycled aluminum alloy products. The company’s two production bases are located in Suzhou, Taicang and Malaysia.
Yiqiu Resources has been engaged in the procurement of scrap aluminum for nearly 40 years, and has established an international scrap aluminum procurement network, including the United States, Southeast Asia, Japan, Mexico, Europe and other countries and regions. In July 2016, the company completed the acquisition of Metalico, a company in the upstream scrap metal recycling industry in the industry chain, which expanded the company’s procurement radius in the United States. In December 2020, the company completed the acquisition of the assets of Liberty Iron & Metal’s Girard, Ohio plant in the United States, further enhancing the company’s production capacity and efficiency in scrap metal recycling.