Xiang Fenghua: obvious growth of graphite negative electrode business net profit rose 53.9% in the first half of the year compared with the same period last year.

SMM: on July 30th, Xiangfenghua Technology released its results for the first half of 2021. According to the financial report, in the past six months, the company achieved 380 million of total revenue, an increase of 81.2% over the same period last year, with a return profit of 42.699 million, an increase of 53.9% over the same period last year.

From the perspective of the company's business structure, graphite anode material is the main source of revenue in the first half of the year. The data show that the graphite anode material has generated a net profit of 380 million yuan for Xiangfenghua in the past six months, accounting for 100% of the revenue.

The company also said frankly in the announcement that with the effective control of the domestic epidemic during the reporting period, and the country has repeatedly mentioned the need to vigorously develop the field of new energy vehicles, the domestic demand for new energy vehicles increased significantly in the first half of 2021. As the core of new energy vehicles, the demand for power batteries has also increased significantly, thus driving the company's anode material business to rise continuously.

In order to further expand its business scale, on June 4, 2021, Xiang Fenghua and the government of Pengxi County signed the Investment Agreement and the motion on foreign investment, agreeing that the company should register and set up a holding subsidiary in Pengxi County, Suining City, to produce graphite anode materials with an annual production scale of 60,000 tons.

In terms of share prices, Xiangfenghua's shares fluctuated upwards in midday trading today, rising 8.34% to 61.21 yuan per share as of 14:35.