On the evening of April 28, Ganfeng Lithium released its results for the first quarter of 2021. In the past three months, Ganfeng Lithium Industry achieved a total revenue of 1.607 billion yuan, an increase of 48.94% over the same period last year. In terms of net profit, its net profit of 476 million yuan soared by 6046.30% compared with the same period in previous years.
As for the reasons for the growth in performance, Ganfeng Lithium Industry explained that on the one hand, it is due to the rise in the prosperity of the industry brought about by the rise in the prices of main products such as lithium carbonate, and on the other hand, the impact of changes in the fair value of the company's financial assets also plays an important role. It is reported that the fair value change income of Ganfeng lithium industry in the current period reached 165 million yuan.
Along with the first-quarter results, Ganfeng Lithium also forecasts its first-half performance, forecasting a net profit of 8-1.2 billion yuan in the first half of 2021, an increase of 411.23-666.85% over the same period last year.
It is worth mentioning that at the high point of the last business cycle, that is, the first quarter of 2018, Ganfeng Lithium Industry only made a net profit of 358 million yuan. The historical price of SMM shows that in the first quarter of 2018, the price of battery-grade lithium carbonate was as high as 164000 yuan / ton, with the lowest as high as 153500 yuan / ton.
"Click to see more historical prices of SMM Metals.
But as of April 29, the average price of battery-grade lithium carbonate was 89000 yuan per ton, down 45.7 percent from its 2018 high, according to SMM spot prices. Ganfeng Lithium Industry has successfully refreshed the highest level in the company's history for many years after such a big price difference, the net profit can still maintain positive growth on the basis of the same year.
"Click to see more SMM metal spot prices.
At present, it is the only one in China to establish a full product chain of "brine / recycled materials containing lithium-lithium carbonate / lithium chloride-metal lithium-butyl lithium / battery-grade metal lithium-lithium alloy". At the same time, it is also the only enterprise in the domestic lithium industry to achieve full product chain competition. according to the current hot development background of the lithium electricity plate, although the rising trend of lithium products such as lithium carbonate is not comparable to that of the first quarter, However, considering that it is still in a relatively high position, the future performance of Ganfeng lithium industry is still worth looking forward to.
The gratifying growth rate of the lithium industry chain is not only shown in the Ganfeng lithium industry, but also in the polyfluorine industry, which released the results on the same day, benefiting from the strong demand for lithium batteries downstream in the first quarter, lithium hexafluorophosphate as the core material of the power lithium battery electrolyte, its price has increased significantly, and the company's net profit in the first quarter totaled 1.239 billion yuan, an increase of 50.79% over the same period last year. The net profit belonging to shareholders of listed companies was 93.2649 million yuan, up 7448.21% from the same period last year.
On April 19th, Polyfluorodo announced that it would increase the sales price of lithium hexafluorophosphate by 30000 yuan / ton to all kinds of domestic customers and $4500 / ton to all kinds of international customers on the basis of the original price. And this is definitely not the end, according to SMM research, the current price of lithium hexafluorophosphate there is an obvious imbalance between supply and demand, for the downstream strong demand upstream material end can not meet it in a short time, at the same time superimposed lithium hexafluorophosphate main raw material lithium carbonate also has a shortage of production capacity, prices substantially upward situation, it is expected that lithium hexafluorophosphate still has upward space in the future. "View details
Citic Construction Investment believes that at present, the shortage of lithium resources continues to be tight, and demand leads to the continuous growth of lithium salt production, accelerating the tight supply of lithium resources. on demand, China's sales of lithium hydroxide monohydrate increased by 136% and 130% year-on-year in 21 years and March, and 18% month-on-month in March. In inventory, China's lithium hydroxide single water inventory fell 18% and 46% in January and March compared with the same period last year, and 26% in March. It is recommended to pay attention to Rongjie shares, Ganfeng Lithium Industry, Shengxin Lithium Energy, Ya Hua Group and Tianqi Lithium Industry.
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