SHANGHAI, Aug 24 (SMM) – Downstream new energy sector shows a bullish development trend due to policy stimulus and overseas NEVs policies. Electrolyte output at Guangzhou Tinci Materials Technology rose sharply year on year. At the same time, electrolyte prices increased due to tight supply of upstream pivotal raw materials and rising costs.
According to semi-annual report, Guangzhou Tinci Materials Technology strives to increase products supply under the context of limited supply of raw materials by means of signing long-term supply agreements with strategic partners, including CATL and LG, along with improving R&D capabilities, manufacturing strength and customer service. Meanwhile, the company also pays attention to enhancing its core competitiveness and market share by expanding the production capacity of major raw materials and products.
The company is expected to earn 1.4 billion to 1.6 billion yuan in the first three quarters, up 170.08%-208.66% on the year; net profit in Q3 is likely to stand at 620 million to 820 million yuan, up 198.65%-295.40% year on year. According to the company, strong demand for lithium-ion battery materials and electrolyte products brought about a sharp increase in sales and prices. At the same time, the self-production rate of raw materials has increased, resulting in an increase in gross profit margin.
