We have to make more money in the third quarter! Electrolyte plate batch of new high "small and beautiful" lithium electricity track?

August 24 news, the end of the reporting season, the performance disclosure of listed companies is in the ascendant, and the "vanguard" of the three quarterly reports has arrived.

After trading on August 23, among the A-share listed companies with a total market capitalization of more than 100 billion yuan, the first company to disclose the forecast of three quarterly reports appeared. Electrolyte leader Tianci material announcement said it expected a net profit of 620 million yuan to 820 million yuan in the third quarter, an increase of 198.65% Rue 295.40% over the same period last year. The semi-annual report showed that the net profit in the first half of the year was 783 million yuan, an increase of 151.13% over the same period last year In other words, its third-quarter net profit may be equal to the sum of its first-half net profit. Tianzi material said that the performance growth benefited from the strong demand downstream, the price of the superimposed electrolyte system repeatedly hit record highs, at the same time, the self-yield of raw materials and gross profit margin increased.

At the same time, Tianci material also issued more than 20 announcements, with a total investment of more than 5.5 billion, to put into construction and expand production of a number of projects, including daily chemical basic materials, electrolytes, lithium hexafluorophosphate, additives, recycling of waste batteries and other whole industry chain projects. This figure is ten times its net profit for the whole of last year. According to estimates, after the five major projects reach full production, it is expected to increase the company's annual operating income by about 25.2 billion yuan and increase the average annual net profit of Tianci materials by 2.96 billion yuan.

With such a large investment in upstream and downstream projects, how profitable are electrolyte products? The rising price of lithium hexafluorophosphate since the beginning of the year is a glimpse. During the year, the price of lithium hexafluorophosphate has soared nearly fourfold.

On August 24, Tianci closed its trading limit within 10 minutes of trading, and its share price climbed to an all-time high, and its share price has doubled since the start of the lithium plate market in May. Under the upsurge of market sentiment, another lithium hexafluorophosphate faucet, polyfluorodo, also closed at the daily limit today, and its share price, together with Shi Da Shenghua and Yongtai Technology, also reached an all-time high.

Behind the new high market value of the plate leader is the "small and beautiful" lithium race track represented by the electrolyte. The prosperity of the power battery industry chain has boosted the market of several upstream core basic materials plates in recent months, but the special advantages of "small but beautiful" track leaders such as electrolyte and PVDF are that their products are one of the indispensable rigid demand materials for lithium battery production, and the capacity construction of production expansion takes time, the competition pattern is excellent, and enterprises with advance layout have the advantage of first mover. And the construction of an integrated industrial chain upstream and downstream can bring more excess gross profit margin.

Observation has disclosed the three quarterly forecasts of listed companies, the current performance growth of the most eye-catching long-term lithium division is also lithium concept stocks.

At present, the downstream demand is strong, and the lithium industry chain is still in tight supply. Huatai Securities Dianxin team believes that the rise in material prices reflects the current strong downstream demand, and the supply gap is obvious. Recently, the market is worried that the lack of core will have a negative impact on the terminal scheduling of new energy vehicles, and then affect the demand of the lithium battery industry chain, so there is a risk aversion mood. But it is essentially a short-term disturbance on the supply side, which does not change the strong demand of the terminal, because orders that cannot be delivered due to lack of core will be delayed rather than disappear.

At present, there are more floating profits of leading companies in each link of the plate, the chips at the capital level are loose, and the short-term fluctuations are large, but the high prosperity of the industry will support the Beta market, and the position is still more important. It is still recommended to configure the competitive leader in the lithium industry chain and the price increase caused by the mismatch between supply and demand (including lithium carbonate, copper foil, lithium hexafluorophosphate).