On the evening of April 2, Shanshan shares (600884) released its annual report for 2020, saying that the company's operating income last year was 8.216 billion yuan, down 5.35% from the same period last year; the net profit belonging to shareholders of listed companies was 138 million yuan, up 48.85% from the same period last year; and basic earnings per share was 0.097 yuan.
According to the annual report, the year-on-year decline in the performance of Shanshan shares in 2020 was mainly due to a substantial increase in losses in non-core businesses such as charging piles, energy storage and clothing compared with the same period last year. The total net profit attributed to shareholders of listed companies was-295.9405 million yuan, and the loss increased by 130.3726 million yuan compared with the same period last year. The net profit belonging to shareholders of listed companies after deducting non-recurring profits and losses was-291.7575 million yuan, and the loss increased by 121.4293 million yuan over the same period last year.
The Lithium Ion Battery Materials Business (hereinafter referred to as "Lithium Battery Materials Business"), the core business of Cunninghamia lanceolata, benefited from the rapid recovery of downstream new energy vehicle market demand and continued improvement in prosperity, achieving a relatively high growth in annual sales and net profit; the total sales volume of lithium materials business exceeded 100000 tons, an increase of 21.05% over the same period last year; and the net profit belonging to shareholders of listed companies was 287.7321 million yuan, up 9.17% over the same period last year. The net profit belonging to shareholders of listed companies after deducting non-recurring profits and losses was 230.7983 million yuan, an increase of 39.10% over the same period last year.
Specifically, in terms of cathode business, thanks to the rapid increase in demand in the small power market and the sustained recovery of the new energy vehicle market in the second half of 2020, the sales of ternary materials in Shanshan Co., Ltd. increased significantly compared with the same period last year, and the sales volume of cathode materials for the whole year reached 30048 tons, an increase of 38.44 percent over the same period last year. During the period, the positive company realized main business income of 3.8487128 billion yuan, up 4.75% from the same period last year, and realized net profit of 202.4496 million yuan, down 27.78% from the same period last year. Net profit belonging to shareholders of listed companies was 138.9691 million yuan, down 27.78% from the same period last year. Performance changes were mainly due to the impact of the decline in raw material prices in the first half of 2020, the average selling price of cathode materials was lower than the average level of last year, and the gross profit per ton decreased compared with the same period last year. Non-recurrent profit and loss decreased in the same period compared with the same period last year.
In terms of negative electrode business, the sales volume of Chinese fir shares negative electrode business reached 58977 tons in 2020, an increase of 24.47% over the same period last year, and the main business income was 2.5179504 billion yuan, down 1.03% from the same period last year. The decline in revenue was mainly due to fierce market competition, resulting in a decline in the average selling price of products compared with the same period last year. The company's overseas customer sales are still robust, with high-capacity fast charging materials with leading performance, overseas customer sales increased by 53% in 2020 compared with the same period last year.
In 2020, the negative pole business of Shanshan shares achieved a net profit of 212.307 million yuan, an increase of 20.38% over the same period last year, and a net profit of 174.9755 million yuan belonging to shareholders of listed companies, an increase of 18.76% over the same period last year. The year-on-year increase in net profit is mainly due to: (1) the entire production line of the first phase of the Baotou integration project was opened, relying on the advantages of local electricity prices and integrated production lines in Inner Mongolia, reducing costs and increasing efficiency significantly, product profitability increased significantly; (2) the product structure continued to improve, the proportion of consumer products with higher gross profit margin increased; (3) the volume of sales increased significantly.
While the performance of negative materials is good, Shanshan shares also issued a production expansion announcement on the evening of the 2nd. Inner Mongolia Shanshan Technology Co., Ltd., a holding subsidiary of the company, and Inner Mongolia Shanshan New Materials Co., Ltd., a wholly-owned subsidiary, plan to invest in the construction of an integrated base for lithium-ion battery anode materials in Baotou, Inner Mongolia (Phase II), with an investment of about 1.535 billion yuan in fixed assets to build an integrated production base. After the completion of the project, it will effectively fill the capacity gap of negative materials and alleviate the capacity bottleneck.
In terms of electrolyte business, the company's electrolyte business achieved sales of 19905 tons in 2020, down 4.77% from the same period last year. The decline in sales is mainly due to strengthening credit risk control, optimizing customer structure, and reducing cooperation with customers with poor payback ability. In 2020, the company's electrolyte business realized main business income of 548.8615 million yuan, down 4.19% from the same period last year; the net profit attributed to shareholders of listed companies was-279800 yuan, significantly reducing losses over the same period last year, mainly due to the rise in electrolyte prices and gross profit margin in the second half of 2020; on the other hand, due to better control of accounts receivable, credit impairment losses decreased significantly compared with the same period last year. In addition, the company's annual production line of 2000 tons of lithium hexafluorophosphate has been gradually opened, while some self-produced additives have not only ensured their own supply of raw materials, but also effectively improved the profitability of the electrolyte business with the rise in the price of lithium salt in the second half of 2020.
In addition, on the evening of the 2nd, Shanshan shares also issued a performance notice, and it is expected that the net profit attributed to shareholders of listed companies in the first quarter of this year will be 250 million yuan to 280 million yuan, an increase of 333.7 million yuan to 363.7 million yuan compared with the same period last year. The company said that the prosperity of the downstream new energy vehicle market continues, the company's sales of positive and negative materials are steadily increasing, and the company continues to give full play to its advantages in integrated production line, intelligent manufacturing, cost control, and so on. the profitability of positive and negative materials has been improved.
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