The net profit of Yiwei LiNeng in the first three quarters increased by 134.18% compared with the same period last year. Two consecutive announcements were issued to lay out the lithium battery industry chain.

SMM October 29th: recently, Yiwei Lithium can release its results for the third quarter of 2021. According to the announcement data, Yiwei LiNeng achieved a total revenue of 4.888 billion yuan in the third quarter, an increase of 125.90% over the same period last year. The net profit belonging to shareholders of listed companies was 721 million yuan, an increase of 23.70% over the same period last year. The total revenue of the company in the first three quarters totaled 11.448 billion yuan, an increase of 114.39% over the same period last year; the net profit of shareholders belonging to listed companies was 2.216 billion yuan, an increase of 134.18% over the same period last year.

On the same day, the company announced that it plans to set up a joint venture with China Electric, which will focus on manufacturing negative materials and give priority to supply to the company and its subsidiaries. The project plans to invest 2.5 billion yuan and has an annual production capacity of 100000 tons of anode materials, which will be built in two phases.

Moreover, on October 28th, the company once again announced that it signed the "Strategic Cooperation Framework Agreement on Yiwei Lithium Energy 50GWh Power Storage Battery Project" with the Management Committee of Chengdu Economic and technological Development Zone, and the two sides will give full play to their respective advantages and reach a relevant agreement on the company's newly requisitioned land construction "Yiwei Lithium 50GWh Power Storage Battery Project" in the area under the jurisdiction of the Management Committee of Chengdu Economic and technological Development Zone.

According to public data, Yiwei Lithium Energy is mainly engaged in the research, development, production and sales of consumer batteries, including lithium primary batteries and small lithium-ion batteries, as well as power batteries such as new energy vehicle batteries and energy storage batteries.

Driven by the rapid development of new energy vehicles in 2021, the company's battery shipments are expanding day by day. Spurred by several large-scale expansion of the company's power battery capacity and third-quarter results, a number of securities companies have maintained a buying rating on Yiwei Lithium Energy, and Southwest Securities predicts that the full-year net profit of Yiwei Lithium Energy in 2021 is expected to increase by 99.71% compared with the same period last year.