三川智慧战略布局：5500万合资设立国际贸易公司拓展稀土进出口业务

三川智慧战略布局：5500万合资设立国际贸易公司拓展稀土进出口业务

Sanchuan Wisdom's Strategic Move: Establishing $55M Joint Venture for Rare Earth Import/Export Business

核心战略布局 | Key Strategic Expansion

2023年8月8日，三川智慧（300066.SZ）宣布与关联方共同投资1亿元成立赣州川宇国际贸易有限公司，其中公司出资5500万元持股55%。新公司将开展稀土矿产品进出口贸易业务，标志着公司从稀土回收领域正式向稀土全产业链延伸。

On August 8, 2023, Sanchuan Wisdom (300066.SZ) announced a 100 million yuan joint venture establishment with related parties, investing 55 million yuan for a 55% stake. The new entity will engage in rare earth mineral import/export trade, marking the company's expansion from recycling to full rare earth industry chain.

关联交易详情 | Related Transaction Details

本次交易构成关联交易：
1. 周钢华将受让三川集团5%股份成为大股东
2. 郑田田为离任不满一年的前董事
合资公司经营范围涵盖稀土原矿收储、加工销售、进出口贸易等全流程业务。

This constitutes a connected transaction because:
1. Zhou Ganghua will acquire 5% shares becoming major shareholder
2. Zheng Tiantian is a former director who left within one year
The JV's business scope covers rare earth ore storage, processing, sales, and import/export.

战略发展路径 | Strategic Development Path

三川智慧近年持续加码稀土产业：
• 2019年收购中稀天马20%股权切入稀土回收
• 2022年6月控股天和永磁（3000吨/年废料处理能力）
• 本次合资实现从回收到原矿贸易的全产业链覆盖

Sanchuan's rare earth industry expansion:
• 2019: Acquired 20% of Zhongxi Tianma for recycling
• June 2022: Gained control of Tianhe Yongci (3,000t/year capacity)
• Current JV completes full industry chain from recycling to raw ore trade

业绩保障机制 | Performance Safeguards

在天和永磁收购中设置严格对赌条款：
• 2022-2024年承诺净利润总和1.23亿元
• 分期付款+股权回购条款
有效保护中小股东权益，2021年已实现投资收益1178万元。

Performance guarantees in Tianhe acquisition:
• 2022-2024 total promised net profit: 123 million yuan
• Installment payments + share repurchase clauses
Effectively protects minority shareholders, already gained 11.78M yuan investment income in 2021.

行业前景分析 | Industry Outlook

稀土作为战略资源具有双重价值：
1. 经济价值：全球需求年增8-10%
2. 战略价值：新能源、军工核心材料
在开采总量控制政策下，稀土回收利用成为重要补充渠道。

Rare earth as strategic resource with dual value:
1. Economic: Global demand grows 8-10% annually
2. Strategic: Core material for new energy & defense
Under production quota policies, recycling becomes crucial supplement.