Original title: Lithium salt and lithium carbonate are in short supply, and the performance of lithium battery industry chain companies has increased significantly Source: Securities Times
Under the background of the high prosperity of new energy vehicles, the upstream and downstream of the lithium battery industry chain is hot. On the evening of January 24, a number of lithium battery industry chain companies issued announcements of pre-increase in annual performance in 2021. Due to the huge increase in the demand for lithium salt products and lithium carbonate products from downstream customers, Ganfeng Lithium (002460) and Jiangte Motor (002176) are expected to double their performance in 2021, and Jiangte Motor’s net profit in 2021 is even more Year-on-year pre-increase 23 times to 30 times. Another company, Weilan Lixin, said that as the lithium battery business continues to be in short supply, the company’s net profit in 2021 is expected to be 640 million to 700 million yuan, a year-on-year increase of 130.26% to 151.84%.
Blue Lithium Core: Lithium battery business has the largest profit contribution
According to the 2021 annual performance forecast of Blue Lithium, the company expects a net profit of 640 million to 700 million yuan in 2021, a year-on-year increase of 130.26% to 151.84%. Regarding the pre-increase in performance, Weilan Lixin said that in 2021, the company’s various businesses are operating well, and all three businesses have increased. In particular, the lithium battery business continues to be in short supply, and its performance has grown significantly compared with the same period of the previous year, which is the largest contributor to the company’s profits.
According to the data, the main product of the blue lithium core is the ternary cylindrical lithium battery. In 2016, Aoyang Shunchang acquired 47.06% equity of Luwei Lithium Energy through the transfer and capital increase of 800 million yuan before the name change of Blue Lithium Core. Thus entered the field of lithium batteries.
On November 30 last year, Weilan Lixin stated on the investor interaction platform that the company’s lithium battery application field is currently dominated by small power systems such as power tools and vacuum cleaners. In the future, the company will expand new application areas according to strategic planning and production capacity.
With the growing demand for lithium battery business, Blue Lithium also joined the team to expand production. On October 9, 2021, Blue Lithium announced the fundraising plan. Blue Lithium announced that the number of shares to be non-publicly issued does not exceed 165 million shares (including the original number), and the total amount of funds raised does not exceed 2.5 billion yuan (including the original number).
After deducting the issuance cost, it is planned to be used for the industrialization project of high-efficiency new lithium-ion battery with an annual output of 2 billion AH, the industrialization project of high-efficiency new lithium-ion battery (phase II), and to supplement working capital. The first two projects are planned to invest 1 billion yuan respectively. From the perspective of fundraising projects, it is mainly to increase the industrialization project of high-efficiency new lithium-ion batteries from 1 billion AH to 2 billion AH, and the construction period is 15 months. After reaching production, it can achieve an average annual operating income of 3.393 billion yuan and an average annual net profit of 499 million yuan.
The growth of downstream demand for lithium batteries drives the sales of lithium salt products
The 2021 annual performance forecast released by Ganfeng Lithium on the evening of January 24 shows that the company expects that the net profit in 2021 will reach 4.8 billion to 5.5 billion yuan, a year-on-year increase of 368.45%-436.76%. The net profit following deduction is 2.9 billion to 3.6 billion yuan, a year-on-year increase of 621.00%-795.04%.
“During the reporting period, with the rapid development of the new energy vehicle and energy storage industry, the demand for lithium salts from downstream customers has grown strongly, the production and sales of the company’s lithium salt products have increased, and product prices have continued to rise. The production capacity has been gradually released, so the company’s operating net profit has increased year-on-year.” Ganfeng Lithium summarized the reasons for the pre-increase in performance.
It is worth mentioning that on January 24th, lithium battery concept stocks trended strongly, Ganfeng Lithium reached the daily limit, and the trading volume for the whole day exceeded 6.3 billion yuan. After-hours data showed that Shenzhen Stock Connect bought 533 million yuan and sold 6.56 billion yuan. 100 million yuan, one institution bought 238 million yuan, and one institution sold 51.9 million yuan. On January 21, Ganfeng Lithium stated on the interactive platform that Mengjin Mining, which was acquired by the company’s chairman Li Liangbin, has lepidolite resources and plans to transfer it to the company following meeting the conditions.
Under the high expectations of new energy vehicles, the price of lithium battery products continues to rise. Jiangte Motor released the 2021 performance forecast on the evening of January 24. It is expected that the net profit attributable to the parent in 2021 will be 350 million yuan to 450 million yuan, a year-on-year increase of 2343.03%-3041.03%. During the reporting period, the external environment of the lithium carbonate business continued to improve, the downstream demand increased, and its sales price rose significantly compared with the same period last year. The production and sales volume of the company’s lithium carbonate business increased significantly compared with the same period of the previous year, and its operating income and profitability were relatively large. increase in magnitude.
Jiangte Electric is a domestic enterprise that produces lithium carbonate from lepidolite concentrate. It should be noted that the price growth of lithium carbonate has continued since the beginning of this year. Under the circumstance of supply reduction caused by the maintenance of some lithium salt enterprises, the market is hard to find. On January 24, relevant data from Shanghai Iron & Steel Association showed that the prices of some products in the lithium battery industry chain continued to rise, battery-grade lithium carbonate rose by 6,000 yuan/ton, lithium hydroxide of various specifications rose by 3,700 yuan/ton to 6,500 yuan/ton, and lithium iron phosphate. Up 5,000 yuan/ton, Jinchuan electrolytic cobalt up 1,500 yuan/ton, and cobalt sulfate up 1,000 yuan/ton. In addition, the strong development of new energy vehicles is also an important reason for the soaring price of lithium carbonate. According to agency estimates, the demand for lithium carbonate in 2022 will reach 540,000 tons, and the rising market of lithium carbonate may continue until mid-2022.
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