SMM January 27th: recently, the major listed companies have released their 2021 performance pre-increase reports. Benefiting from the continued popularity of the new energy vehicle field in 2021, the lithium battery industry is developing rapidly, and the "transcripts" handed in by a number of lithium industry chain enterprises are getting brighter and brighter one by one. After Ganfeng Lithium, one of the "lithium duo", released an expectation of a year-on-year increase in net profit of more than 368%, Tianqi Lithium's advance announcement was long overdue.
Tianqi Lithium is expected to make a net profit of 1.8 billion-2.4 billion yuan in 2021, compared with a loss of 1.834 billion yuan in the same period last year, according to financial data. It is worth mentioning that according to the results of the first three quarters of 2021 released by Qi Lithium Industry the day before yesterday, the net profit attributed to shareholders of listed companies in the first three quarters of the company was 530 million yuan, equivalent to only one quarter in the fourth quarter. Tianqi Lithium Industry's net profit is nearly 1.3 billion yuan, almost double that of the previous three quarters.
As for the reasons for the substantial increase in the company's performance, Tianqi Lithium Industry said that during the reporting period, benefiting from the improvement of global new energy vehicles, lithium-ion battery manufacturers accelerated capacity expansion, downstream cathode material orders and other positive factors, sales and average prices of the company's major lithium products in 2021 were significantly higher than those in 2020. The completion of the transaction involving the introduction of strategic investor IGO Limited through capital increase and share expansion of the subsidiary confirmed 673 million yuan in debt restructuring income related to the syndicated M & A loan rollover and 609 million yuan in amortization of unrecognized financing expenses during the corresponding period; in addition, the company also expects the performance of the associated company SQM in 2021 to increase significantly compared with the same period last year, and the investment income recognized in the reporting period is significantly higher than that in 2020.
Among them, among the above reasons for the pre-increase in the performance of Tianqi lithium industry, the simultaneous increase in the volume and price of lithium products is definitely the most important one. According to public data, Tianqi Lithium Industry is committed to the R & D, production and sales of lithium series products, leading products include battery-grade lithium carbonate, industrial-grade lithium carbonate, battery-grade anhydrous lithium chloride, industrial-grade anhydrous lithium chloride, battery-grade lithium hydroxide, industrial-grade lithium hydroxide and lithium dihydrogen phosphate, high-purity lithium carbonate and metal lithium.
Take battery lithium carbonate as an example, in the past year, the average spot price of battery-grade lithium carbonate rose from 53000 tons at the beginning of the year to 275000 yuan / ton, an increase of 419% this year. After entering 2022, the price of lithium carbonate is still rising. According to the spot price of SMM, as of January 27, the spot price of domestic battery-grade lithium carbonate has risen to 36.4 yuan / ton, an increase of as much as 30.94% from the beginning of the year.
"Click to view the spot historical price of SMM new energy products.
Of course, this is not the end, SMM believes that after the festival, the supply of lithium carbonate market will pick up slightly as lithium salt enterprises gradually return to work. On the other hand, the 3C digital market on the demand side tends to be stable, and in terms of power, with the continuous increment of the new energy vehicle market, the demand for ternary and iron lithium batteries and materials will continue to rise, and the lithium carbonate gap is still there, and it is expected that the transaction price will exceed 400000 yuan / ton after the festival. "View details
On the same day, Shanshan shares also announced that the company is expected to make a net profit of 3.1 billion yuan to 3.39 billion yuan in 2021, an increase of 2146% to 2356% over the same period last year. For the reasons for the substantial growth in the company's performance, Shanshan said that during the reporting period, the prosperity of the new energy vehicle industry continued to improve, downstream customer demand was strong, and the company's overall sales and profitability of lithium materials business increased significantly compared with the same period last year.
From a sub-business point of view, negative materials, through improving the layout of the industrial chain to ensure product delivery, to achieve rapid growth in production and sales; superimposed Baotou integrated production line to achieve production, negative materials business gross profit margin growth compared with the same period last year.
In terms of cathode materials, through the continuous strengthening of supply chain management, the price increase of raw materials is conducted smoothly and the profitability of products is improved. Electrolyte business benefited from the rising price of lithium hexafluorophosphate and the company's own part of lithium hexafluorophosphate production capacity, the performance increased significantly compared with the same period last year.
SMM has previously sorted out the spot price increases of 14 representative products in the lithium industry chain in 2021, from which we can see that ternary cathode materials (523 / consumption) rose by 104%, artificial graphite (high-end) by 14.81%, and electrolyte (lithium iron phosphate) by more than 213%.
In addition, the company reported that it completed the delivery of the polarizer business in mainland China and included it into the scope of the merger, and the new business developed steadily and brought high performance contributions; non-recurrent profits and losses had a greater impact on performance, mainly in the period when the company completed the transfer and delivery of 19.6438% equity interest in Shanshan Energy, and obtained investment income.
And Tianyuan shares, which actively layout the new energy lithium materials business in 2021, the performance forecast in 2021 is also very eye-catching. Tianyuan shares estimate that the company's net profit in 2021 is 635 million yuan to 675 million yuan, an increase of 447.99% 482.51% over the same period last year.
In addition to titanium dioxide and other major product prices rose significantly compared with the same period in 2020, the company's overseas investment in the new energy lithium cathode materials project production and sales also increased significantly. In December last year, Tianyuan shares also invested 2.389 billion yuan to set up a new company to invest in the construction of 100000 tons / year lithium iron phosphate cathode material project, and according to the actual situation, the company's subsidiaries will support the construction of phosphoric acid and iron phosphate, continuously deepening the layout in the field of lithium cathode materials.
Fengyuan shares also announced on the same day that the company's net profit belonging to shareholders of listed companies in 2021 was 48 million yuan to 55 million yuan, compared with a loss of 29.203 million yuan in the same period last year.
Referring to the reasons for the pre-increase in performance, Fengyuan shares said that during the reporting period, with the rapid development of the new energy industry and strong demand from downstream customers, with the gradual release of the production capacity of the company's new production line of lithium battery cathode materials, the company's production and sales of lithium battery cathode materials increased significantly compared with the same period last year.
Recently, with the continuous rise of cobalt and nickel prices, the precursor enterprises are more difficult to accept the cost pressure, and the quotation is increased by 3000-5000 yuan / ton. In terms of ternary materials, the price of precursors rose slightly, and manufacturing costs continued to rise with lithium salts. Due to the existence of Spring Festival holiday and maintenance plans, some manufacturers have gradually entered the state of holiday, the difficulty of superimposed lithium salt procurement has been reduced, and the operating rate will decline this month. "View details
As of January 27, the spot price of ternary precursors (523 / consumption) was 133000 yuan / ton, up 4.72% this year. The spot price of ternary materials averaged 278500 yuan / ton, up 13.21% this year.
In addition to the above three enterprises closely related to the lithium battery industry chain, the leading intelligence with lithium battery smart equipment business has also benefited a lot from the rapid development of the lithium battery industry. According to its 2021 performance forecast released on the same day, the company is expected to make a net profit of 1.45 billion yuan to 1.65 billion yuan in 2021, an increase of 88.92% and 114.98% over the same period last year.
In this regard, the company said that during the reporting period, on the basis of stabilizing the original customers, the company actively opened up markets at home and abroad, and the lithium battery intelligent equipment business achieved sustained and rapid growth.
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