The New deal of the National standing Committee supports the New Energy vehicle Market to resume the rise of A-share Lithium Battery Plate

SMM: SMM April 1: morning lithium battery concept stocks strengthened, Tianqi lithium industry rose by the limit, Dangsheng technology, Huayu cobalt industry, Enjie shares rose more than 7%.

Premier Li Keqiang presided over an executive meeting of the State Council on March 31, which pointed out that for the new energy vehicle market, the meeting decided to extend the policy of subsidizing the purchase of new energy vehicles and exempting them from purchase tax for two years.

In order to promote automobile consumption, the meeting also decided on two other major policies: first, the central government adopted awards instead of subsidies to support the elimination of diesel trucks in key areas such as Beijing, Tianjin and Hebei, and second, the sale of used cars to second-hand car dealers. VAT will be levied on a 0.5% reduction in sales from 1 May to the end of 2023.

In addition, recently, the enterprise annual report intensive announcement, cold sharp cobalt industry issued the performance announcement shows that its revenue in 2019 to achieve 1.779 billion yuan, down 36.06% from the same period last year; net profit 5.53 million yuan, down 99.22% from the same period last year. Huayu Co increased revenue and reduced profits last year, with revenue of 18.853 billion yuan, up 30.46 percent from the same period last year, and net profit of 120 million yuan, down 92.18 percent from the same period last year. Luoyang Molybdenum achieved revenue of 68.677 billion yuan last year, an increase of 164.52% over the same period last year, and net profit of 1.857 billion yuan, down 59.94% from the same period last year.

In addition, according to Ganfeng Lithium's 2019 financial report, last year's revenue was 5.246 billion yuan, an increase of 7.3 percent over the same period last year, and a profit of 356 million yuan, down 81.34 percent from the same period last year. According to Tianqi lithium's performance report, the company's revenue last year was 4.836 billion yuan, down 22.56% from the same period last year, and the loss was 2.824 billion yuan, down 228.36% from the same period last year. Tianqi Lithium said that in the industry cycle adjustment and national new energy vehicle subsidies and other adverse factors, the sales volume of lithium concentrate products and the sales price of lithium chemical products in 2019 decreased compared with 2018, resulting in a decline in the company's overall sales revenue. In addition, the performance loss of Tianqi Lithium Industry is mainly due to signs of impairment in the long-term equity investment assets of Chile Salt Lake Lithium extraction giant SQM Co., Ltd., with a provision of about 2.208 billion yuan for impairment of SQM.

Cobalt industry trio performance fell sharply, "lithium industry Shuangxiong" performance is bleak, due to the poor performance of the new energy vehicle market in 2019, the cobalt lithium industry chain has shown a depressed state, and this time the state will propose to extend subsidies and purchase taxes, has a certain supporting role for the new energy vehicle industry, the original plan to eliminate subsidies in 2020 is also temporarily shelved.

Guojin Securities pointed out that the subsidy has been delayed by two years, and the policy "combination punch" will help restore the domestic new energy vehicle market, relax the superimposed financing environment, and increase production and speed up production for high-quality lithium battery manufacturers. The extension of subsidy time is a heart-strengthening agent for the whole industrial chain, which is helpful to restore the short-term market of domestic new energy vehicles and cultivate medium-and long-term global competitiveness. With the boost of the domestic new energy vehicle market and the relaxation of the financing environment, high-quality lithium battery manufacturers are expected to increase production. Since the beginning of this year, Ningde Times, Xinwanda and other leading battery manufacturers have accelerated the construction of new power battery production lines to meet the growing demand for new energy vehicle battery assembly.

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