Oak Co., Ltd. had revenue of about 6.717 billion last year, lithium battery electrolyte solvent sales of about 27000 tons.

On the evening of April 15, Oak shares (300082) released its 2021 results KuaiBao. The company realized operating income of about 6.717 billion yuan in 2021, an increase of 17.67 percent over the same period last year. Net profit belonging to shareholders of listed companies was about 357 million yuan, down 11.3 percent from the same period last year; basic earnings per share was 0.53 yuan, down 10.17 percent year-on-year.

Main financial data and indicators of Oke shares in 2021 (unit: 10,000 yuan)

KuaiBao showed that the decline in performance in 2021 was mainly due to a decline in international crude oil inventories and concerns in the market that tight supply contributed to an across-the-board rise in crude oil prices, with the purchase cost of ethylene, the company's main raw material, up about 32 per cent from a year earlier. At the same time, Jiangsu Oke Chemical Co., Ltd., a wholly owned subsidiary of the company, carried out capacity expansion and overhaul of the production plant from March 6 to April 26, 2021, and the production capacity was reduced due to the epidemic situation and energy consumption control, resulting in an increase in corresponding costs.

However, benefiting from the promotion of the national "double carbon" policy, the comprehensive development of the new energy vehicle industry has led to a substantial increase in the market demand for lithium-ion battery electrolyte. Oak shares fully grasp the market trend and focus on strategic customers. Lithium battery electrolyte solvent production and sales are growing rapidly. In 2021, the company's sales of lithium battery electrolyte solvents are about 27000 tons, with a gross profit of about 120 million yuan.

On the same day, Oak released a forecast of first-quarter results. The company expects a profit of 95 million yuan to 105 million yuan in the first quarter of 2022, an increase of 85.84% Mel 105.40% over the same period last year.

Oak said that the development trend of the new energy vehicle industry continues to improve. In recent years, as the state pays more and more attention to environmental protection to drive the gradual expansion of the market scale of new energy vehicles, the production and sales of new energy vehicles are increasing. Promote the strong market demand for lithium-ion battery electrolyte. In the first quarter, the company's gross margin of electrolyte solvents for lithium batteries was about 65 million yuan, an increase of about 47.5% over the same period last year.

Battery Network noted that in September 2020, Oke shares acquired a 35% stake in Suzhou Huayi in the form of equity transfer and capital increase, so as to create an "ethylene-EO-EC/DMC-CEC-VC/FEC" industrial chain and enhance the competitiveness of the overall industrial chain. In December 2021, Oak announced that Suzhou Huayi completed strategic financing, Sinochem Capital's Sinochem High-tech Industry Fund under Sinochem Capital Venture Capital and Jiangsu Yida Capital as joint leaders in this round. The follow-up parties will integrate resources in the field of new energy lithium battery electrolyte materials, give full play to their respective advantages and carry out in-depth cooperation. At the same time, this financing will help Suzhou Huayi to promote the construction of new projects, increase product capacity, enrich the range of products, and further consolidate the company's position in the electrolyte additive industry.