Shanshan's net profit soared 1034.67% in the third quarter compared with the same period last year. Lithium power business is booming.

On the evening of October 27th, Cunninghamia lanceolata released its third-quarter results. According to the announcement, the company achieved operating income of 5.765 billion yuan in the third quarter, an increase of 145.05% over the same period last year, and net profit of 2.014 billion yuan, an increase of 1034.67% over the same period last year. The company achieved a cumulative revenue of 15.712 billion yuan in the first three quarters, an increase of 182.43% over the same period in 2020, and the company's net profit in the first three quarters was 2.774 billion yuan, an increase of 899.29% over the same period last year.

As for the reason for the substantial increase in the company's performance, Shanshan said that it was mainly due to the continuous improvement in the prosperity of the new energy vehicle industry, strong downstream demand, and a substantial increase in the sales and profitability of the company's lithium materials business.

Among them, the company's anode materials, cathode materials and electrolyte business have made considerable gains in the context of the sharp rise in the price of raw materials.

After the release of the third-quarter results, many securities institutions gave full affirmation to Shanshan shares, and Ping an Securities even said that it maintained its "highly recommended" rating, and boldly predicted that its full-year net profit in 2021 is expected to increase by 2290.51% compared with the same period last year.