Home / Metal News / Minor Metals / [SMM Quarterly report] the leading performance of the industrial chain is more optimistic. There is a big difference in the net profit of cobalt and lithium enterprises in the first quarter.
[SMM Quarterly report] the leading performance of the industrial chain is more optimistic. There is a big difference in the net profit of cobalt and lithium enterprises in the first quarter.
May 15,2020 16:03CST
translation
Source:SMM
After the difficult car market in 2019, there is a more optimistic expectation for the sales of new energy vehicles in 2020, but the new crown virus at the beginning of 2020 has completely changed the market expectations for 2020 and the new energy vehicle market in the first quarter. Due to the rare negative GDP growth in the first quarter of the epidemic, macroeconomic pessimism also limits the consumption vitality of the market. Most listed companies also dragged down the economy because of the epidemic, resulting in poor performance in the first quarter. Next, let's take an inventory of some of the leaders in the cobalt-lithium new energy industry chain in the first quarter and the situation.
The content below was translated by Tencent automatically for reference.

SMM5, March 15: after the difficult car market in 2019, the market has a more optimistic expectation for the sales of new energy vehicles in 2020, but the New Crown virus at the beginning of 2020 has completely changed the market expectations for 2020 and the new energy vehicle market in the first quarter. Especially in February, when the epidemic gradually reached its peak, the new energy vehicle market was completely dumb, and most enterprises sold only a few hundred cars. A small number of enterprises and even a car has not been sold, the sudden outbreak of the epidemic has brought a huge impact on the market. Due to the rare negative GDP growth in the first quarter of the epidemic, macroeconomic pessimism also limits the consumption vitality of the market. Most listed companies also dragged down the economy because of the epidemic, resulting in poor performance in the first quarter. Next, let's take an inventory of some of the leaders in the cobalt-lithium new energy industry chain in the first quarter and the situation.

Electric vehicle faucet

BYD: net profit of 720-900 million yuan, up 495.31% over the same period last year.

On March 29, BYD announced that it expected net profit attributable to shareholders of listed companies to be 720 million to 900 million yuan from January to March 2016, an increase of 495.31 per cent to 644.13 per cent year-on-year. The average net profit growth rate in the automotive industry was 11.79%, and the company's net profit fell 16.48% to 4.40% from the previous quarter.

BYD said that in the first quarter of 2016, it is expected that the traditional automobile business will maintain steady development; in the field of new energy vehicles, the pure electric bus K9 and plug-in hybrid models Qin and Tang continue to maintain a good momentum of development, and sales have increased sharply year on year, driving the continued growth of the group's revenue and profits.

BAIC Blue Valley: net loss of 431 million yuan in the first quarter down 2141% from the same period last year

BAIC Blue Valley released its first quarter 2020 report. According to the report, the company achieved operating income of 1.667 billion yuan in January-March, down 53.12% from the same period last year, and the net loss attributable to shareholders of listed companies was 431 million yuan, and net profit fell 2141% from the same period last year.

BAIC sold 9000 vehicles in the first quarter of 2020, down 64.1 per cent from a year earlier, including 5992 in March, down 66.13 per cent from a year earlier, more than the overall decline in China's new energy vehicle market. In the R & D sector, BAIC Blue Valley spent 132 million on R & D in the first quarter of 2020, up 88.69 per cent from a year earlier.

Battery faucet

Ningde era: net profit of 742 million yuan down 29.14% from the same period last year

Ningde Times last night released the first quarter of 2020 report, the company's first quarter revenue of 9.03 billion yuan, down 9.53% from the same period last year, the net profit attributable to shareholders of listed companies was 742 million yuan, down 29.14% from the same period last year.

Ningde Times said that the main reason for the decline in the company's performance is due to the impact of the new coronavirus pneumonia epidemic and the market impact, a sharp drop in the number of new energy vehicles installed, resulting in a decline in sales of power batteries in the first quarter of the company. Net profit attributable to shareholders of listed companies fell from a year earlier. The company will closely monitor the progress of the epidemic situation and the market situation and reduce the impact of epidemic situation and market fluctuations on the company through positive measures such as industrial cooperation, increasing revenue and reducing expenditure, reducing costs and increasing efficiency, and reasonably controlling costs.

Yi Wei Li Neng: net profit 3275-38.21 million yuan up 20%-40% compared with the same period last year

On February 29, Yiwei LiNeng issued a performance forecast that the company expects the net profit attributed to shareholders of listed companies from 32.75 million to 38.21 million yuan from January to March 2016, an increase of 20.00% to 40.00% over the same period last year. The average net profit in other electronics industries grew by 14.12%, and the company's net profit fell 43.18% to 33.71% from the previous quarter. The main reason for the profit growth was the gradual formation of the power battery and energy storage battery business during the reporting period, which led to the growth of the company's performance. In addition, McWeill's business benefited from the establishment of its own brand to achieve performance growth.

Lithium industry leader

The net profit of Tianqi Lithium Industry-500 million yuan was 110 million yuan in the same period last year.

Tianqi lithium industry in the first quarter of 2020 to achieve revenue of 970 million, down 27.6% from the same period last year, an increase from the same period last year; to achieve net profit-500m, the same period last year was 110 million yuan, failed to maintain a profitable state. The gross profit margin was 53.2%, 7.9 percentage points lower than the same period last year, and the net profit margin was-39.1%, 60.6 percentage points lower than the same period last year. On the reasons for the changes in the 2020 semi-annual results, Tianqi Lithium said that it was mainly due to the decline in prices and sales of lithium chemicals and lithium mines compared with the same period a year earlier. Compared with the same period last year, the exchange rate changes greatly, resulting in an increase in the amount of exchange losses on financial expenses in the current period.

The net profit of Ganfeng lithium industry was 7.7461 million yuan, down 96.94% from the same period last year.

On April 30, Ganfeng Lithium Industry released its first quarterly report for 2020. From January to March 2020, the company realized operating income of 1.079 billion yuan, down 18.88% from the same period last year. The non-ferrous smelting and processing industry has disclosed that the average operating income growth rate of individual stocks in the first quarter is 13.43%. The net profit belonging to the shareholders of listed companies was 7.7461 million yuan, down 96.94% from the same period last year. The non-ferrous smelting and processing industry has reported an average net profit growth rate of-6.44% for each stock in the first quarter.

Cobalt industry leader

The net profit of Hanrui Cobalt Industry increased by 141.13% in the first quarter from a year earlier.

On the evening of April 23rd, the quarterly report for 2020 was released, although the company's total operating income declined year on year, the net profit of shareholders belonging to listed companies exceeded 22.75 million yuan, an increase of 141.13% over the same period last year. The cold sharp cobalt industry attributed the main reasons for turning losses into profits compared with the same period last year: first, the new copper electrolytic copper production line in Congo Matt, a subsidiary, was put into production at the end of 2019, increasing the production capacity and sales volume of electrolytic copper; secondly, the company strengthened procurement and production control, improved the process, reduced product costs and increased gross profit margin. Third, the cost of cobalt products decreased, the market price of cobalt metal increased, there was no loss of inventory price drop in the reporting period, and the loss of inventory price in the same period last year was 68.5616 million yuan. In addition, the subsidiary Anhui Hanrui investment project was put into production in September 2019, which further improved the layout of the company's industrial chain, improved the self-sufficiency rate of cobalt powder raw materials, and reduced the cost of outsourcing processing.

Huayu cobalt industry: net profit of 180 million yuan in the first quarter increased by 1385.1% compared with the same period last year

Huayu cobalt industry disclosed the first quarter report of 2020, the company achieved operating income of 4.424 billion yuan, an increase of 0.53% over the same period last year; realized net profit of 184 million yuan, an increase of 1385.1% over the same period last year; deducted non-net profit of 132 million yuan, an increase of 693.42% over the same period last year; basic earnings per share of 0.17 yuan.

Raw material procurement and product sales cycle is longer, if the half-year procurement cycle, Q1 cobalt raw materials are expected to come around August 2019, when cobalt prices are still at the bottom of history, resulting in lower raw material costs to increase the gross profit margin of cobalt products.

Cathode material faucet

Dangsheng Science and Technology: net profit of 1200-16 million yuan up 409.45%-512.61% compared with the same period last year

On March 15, Dangsheng Science and Technology announced its forecast that the net profit attributable to shareholders of listed companies from January to March 2016 would be 12 million to 16 million yuan, an increase of 409.45 per cent to 512.61 per cent from the same period last year. The average net profit growth rate for the chemical industry was 4.65%, and the company's net profit for the current quarter was 5.44% to 40.58% higher than the previous quarter. When the change in the performance of science and technology is mainly due to the active development of international and domestic power battery markets during the reporting period, the company realized full-load production of automotive power multi-materials in Jiangsu lithium cathode material production base, and its sales volume is expected to increase by nearly 50% over the same period last year. Sales revenue increased significantly compared with the same period last year, and gross profit margin increased. During the reporting period, the scope of the merger of the company increased Beijing Zhongding High Technology Automation Technology Co., Ltd., and during the reporting period, the company's shares in Xingcheng Graphite were expected to increase compared with the same period last year, and the investment income recognized by the company rose year on year.

Electrolyte faucet

New Zeus: net profit of 5084.31-53.2642 million yuan up 320%-340% year on year

On March 22, New Zebang issued a forecast of its results for the first quarter of 2016, which is expected to achieve a net profit of 50.8431 million yuan to 53.2642 million yuan belonging to shareholders of listed companies, an increase of 320 percent over the same period last year. The company's performance growth was mainly due to the fact that lithium-ion battery chemicals benefited from the rapid growth in the new energy electric vehicle market, sales orders increased sharply, and the company's operating income and profit scale grew rapidly, New Zeus said. Fluorine chemicals customers are stable, the supply of materials and finished products are good, and the profitability of the products is strong. The inclusion of subsidiary Heisford in the consolidated report in the first quarter has greatly improved the company's performance, compared with the same period last year, Heisford has not yet been incorporated into the company.

God-given materials: net profit of 6667.65-70.3134 million yuan up 450%-480% compared with the same period last year

On March 29th, Tianci announced that it is expected to make a profit of 66.6765 million yuan to 70.3134 million yuan in the first quarter of 2016, an increase of 450% and 480% over the same period last year. Tianci said that during the reporting period, the downstream new energy vehicle industry continued to maintain a rapid development rate. Benefiting from the strong demand of the downstream new energy vehicle industry, the company's electrolyte sales increased significantly, and the sales revenue increased compared with the same period last year. At the same time, the company produces its own electrolyte core raw material lithium hexafluorophosphate, in the tight supply of lithium hexafluorophosphate market led to the rise in electrolyte prices, the company electrolyte gross profit increased, profit level increased.

Diaphragm faucet

Cangzhou Pearl net profit 9394.50-109.6025 million yuan year-on-year increase of 200%-250%

Cangzhou Pearl announced that the net profit attributable to shareholders of listed companies from January to March 2016 is expected to be 93.945 million yuan to 109.6025 million yuan, an increase of 200-250% over the same period last year. Cangzhou Pearl said that the increase in the price difference of BOPA film and the release of lithium battery diaphragm capacity were the main reasons why the first quarter results exceeded expectations. It is understood that the company's "annual output of 20 million square meters of dry lithium-ion battery diaphragm project" was completed and reached production in September 2015, and the "annual output of 25 million square meters of wet lithium-ion battery separator project" was completed and reached production in January 2016. the production and sales of lithium-ion battery separator products increased significantly in the first quarter of 2016 compared with the first quarter of 2015.

The performance of listed companies in the cobalt and lithium industry chain varies in the first quarter, but most of the leading enterprises made good achievements in the first quarter. With the basic effective control of the domestic epidemic, resumption of work and resumption of production, market consumption is also gradually recovering.

On 15 May, Liu Aihua, director of the National Bureau of Statistics and spokesman for the National Economic Statistics Department, said at a press conference on the operation of the national economy in April that the overall economy in April had continued the momentum of recovery and improvement since March, and that the main indicators had shown positive changes. First, the resumption of work and production has been promoted in a down-to-earth manner, and the expectations of enterprises have improved to a certain extent on a month-on-month basis. Second, production demand gradually improved, with industrial production at or above the scale up 3.9% year-on-year, from a 1.1% decline last month to an increase. Third, the trend of transformation and upgrading continues, from January to April, new formats and models related to the Internet continue to maintain counter-trend growth. Fourth, employment prices were generally stable. The unemployment rate surveyed in cities and towns for the month was 6.0%, up 0.1 percentage points from the previous month, and the fluctuation between months was relatively small. Prices maintained a steady decline, and CPI for the month was 1 percentage point lower than that of the previous month.

In addition, when asked whether China's economy could stabilize in the second quarter, Liu Aihua said that we have the confidence, confidence and challenges in the future economic trend. The strength comes from our long-term accumulation of a complete industrial system, increasingly perfect infrastructure, and a large market scale. Confidence comes from the overall planning of epidemic prevention and control and economic development since the outbreak of a series of policies and measures have achieved positive results. It is true that the momentum of the spread of the epidemic outside the country has not been effectively controlled, and the impact of the epidemic on the global economy is still in a complex process of development and evolution.

With the gradual recovery of the economy and the weakening of macroeconomic downward pressure, automobile consumption will gradually expand in the future, which will also help listed companies to return to normal in the second quarter, so as to continuously improve the operating efficiency of enterprises.

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