SMM: on the evening of August 30th, Ganfeng Lithium Industry released its half-yearly results report for 2021. According to the report, the company achieved revenue of about 4.064 billion yuan in the first half of the year, an increase of 70.27 percent over the same period last year, while the net profit belonging to shareholders of listed companies was 1.417 billion yuan, up 805.29 percent from the same period last year.
From its business structure, "metal lithium and lithium salt series products" is the main source of income of Ganfeng lithium industry, accounting for 72.8% of its revenue.
According to the announcement, Ganfeng Lithium continued to obtain high-quality lithium resources in the upstream of the world during the reporting period. After increasing its holdings, the company now owns a 28.88% stake in Bacanora, but Ganfeng Lithium is obviously not satisfied with this, and the company will continue to acquire the remaining shares of Bacanora through an offer. The company also owns a 50% stake in the Sonora lithium clay project. It is also worth mentioning that in order to speed up the construction of the Cauchari-Olaroz Salt Lake project in Argentina, Ganfeng Lithium has arranged for technical experts to go to Argentina in batches to support the construction of the project to ensure that it can be put into production in 2022.
In addition, the company also actively distributes lithium resources in Africa and Mali, indirectly holds the rights and interests of the Goulamina spodumene project and obtains the underwriting right through the acquisition of a 50% stake in SPV of the Netherlands.
In terms of lithium salt business, according to the announcement, Ganfeng lithium industry has formed an annual production capacity of 43000 tons of battery-grade lithium carbonate, 81000 tons of battery-grade lithium hydroxide and 2000 tons of metal lithium. Among them, the annual production capacity of 50, 000 tons of lithium hydroxide increased smoothly at the end of 2020 and reached full production in the first quarter of 2021, and the production line is currently in good operation; another Ningdu production line with an annual capacity of 17500 tons of battery-grade lithium carbonate was transformed and upgraded in the first quarter of this year, and has formed an annual production capacity of 20, 000 tons of battery lithium carbonate.
At the same time, relying on the layout of the company's upstream lithium resources, Ganfeng Lithium Industry also has a very complete layout in the lithium battery business. Its lithium battery has covered more than 20 kinds of products, such as lithium power battery, energy storage battery, consumer battery and so on. It is widely used in photovoltaic energy storage, smart home and power bus and other fields.
Not only that, Ganfeng lithium industry also has its own layout in the recycling of retired lithium batteries. Ganfeng Lithium Industry's recycling technology was selected into the second batch of "Industry Standard conditions for Comprehensive Utilization of waste Power batteries for New Energy vehicles" by the Ministry of Industry and Information Technology in 2020. At present, the decommissioned lithium battery disassembly and metal comprehensive recovery project of recycling technology has formed a recycling capacity of 34000 tons. In the future, it will continue to expand the production capacity of its ternary precursor project to help the company build a mature battery recycling business. Comply with the development of carbon neutralization.
According to the announcement, Ganfeng Lithium Industry is expected to form a lithium product supply capacity of not less than 200000 tons of LCE by 2025, including lithium extraction from ore, brine and clay. Ganfeng Lithium Industry said that the company is optimistic about the long-term development prospect of the domestic lithium market, and expects to form a lithium product supply capacity of no less than 600000 tons of LCE in the future, as well as a more competitive lithium resource project reserve.
As for the lithium battery recycling business, in future planning, the company is expected to build a large-scale integrated facility that can recycle 100000 tons of decommissioned lithium batteries per year, making it one of the leading companies in the field of lithium battery recycling in the future.
It is worth mentioning that recently, the prices of lithium carbonate and lithium hydroxide have continued to rise under the imbalance between supply and demand. According to the spot quotation of SMM, as of August 30, the average price of domestic battery-grade lithium carbonate was 111000 yuan / ton, up 22000 yuan / ton or 24.72% from the beginning of the month, while the average price of battery-grade lithium hydroxide was 120000 yuan / ton, up 21000 yuan / ton from the beginning of the month, an increase of 21.21%.
"Click to view the average spot price of SMM metal.
This is not the end, according to SMM, the lithium salt market will remain out of storage in the second half of the year. Compared with lithium carbonate, the shortage of lithium hydroxide market is small, but the market price will remain high.
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