SMM7 March 28: Nanjing Yunhai Special Metals released its annual report for the first half of 2020. Data show that in the first half of 2020, the company achieved operating income of 2.5214478 billion yuan, an increase of 2.34% over the same period last year.
Although affected by the epidemic, the company increases its market share by developing customers, develops new applications of magnesium alloys, and develops the application of magnesium alloys in the field of automotive lightweight. In the first half of 2020, the sales of the company's main products magnesium alloy and aluminum alloy were not affected by the market downturn, but increased compared with the same period last year.
The company realized a net profit of 96.9944 million yuan belonging to the parent company, down 65.08% from the same period last year. This is mainly because there are government demolition subsidies in the same period in 2019 and none in the same period in 2020. In the first half of 2020, the company achieved a net profit of 88.8184 million yuan after deducting non-recurring profits and losses, down 16.17% from the same period last year, mainly due to the low price of magnesium. Production and operation has gradually resumed in the second quarter of 2020, and the net profit belonging to the parent company increased by 55.00% in the second quarter of 2020 compared with the first quarter of 2020.
Data show that Nanjing Yunhai Special Metals Company is a leading enterprise in the magnesium industry, with a complete industry chain of "Dolomite mining-original magnesium smelting-magnesium alloy casting-magnesium alloy processing-magnesium alloy recycling". Magnesium alloy, as the lightest structural metal, has shown a growing trend in recent years under the background of lightweight transportation, especially the global investment in new energy vehicles. New energy vehicles represented by Tesla and Weilai have increased the use of aluminum and magnesium light alloy parts to reduce weight in order to improve their mileage.
In 2020, Nanjing Yunhai Special Metals Company has become a global supplier to Volvo, entering the parts supplier system such as Porsche, BMW and Mercedes-Benz. New Energy vehicle Market companies provide products for BYD, BAIC New Energy, Geely, Tesla, Ford and so on. At the same time, the company strengthens cooperation with domestic new energy battery manufacturers such as Ningde Times and BYD.
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