Under "Lithium Electric heating", the net profit of Huayou Cobalt Industry increased by 874.48% in 2020 compared with the same period last year.

On the evening of March 29, Huayou Cobalt disclosed its annual report data to the public. According to its annual report, in the past year, the company achieved a total operating income of 21.19 billion, an increase of 12.83% over the same period last year, and the net profit belonging to shareholders of listed companies was as high as 1.16 billion, up 874.5% from the same period last year.

According to public data, Huayou Cobalt Co., Ltd., founded in 2002, is a high-tech enterprise specializing in lithium power new energy materials manufacturing, cobalt new materials deep processing and cobalt and copper non-ferrous metal mining, separation and metallurgy. Its products cover many categories, such as lithium cathode material precursors, cobalt chemicals, copper and nickel metals and so on.

After years of development, Huayou Cobalt is now the largest supplier of cobalt products in China, with a production and sales scale in the forefront of the world; at the same time, in terms of domestic lithium ternary precursor products, Huayou Cobalt has long been among the major suppliers.

While benefiting from the increasingly popular field of new energy vehicles and the strong demand of the downstream power battery market, it has effectively mobilized the growth of shipments of ternary precursors, and the increase of 119.96% of ternary precursors in 2020 has provided Huayou Cobalt with a satisfactory answer.

However, it is worth mentioning that in the financial report of Huayou Cobalt Industry, due to part of the market demand turned to the entrusted processing business, the sales of cobalt products of Huayou Cobalt Industry fell 8.19% in 2020 compared with the same period last year.

According to SMM research data: recent electrolytic cobalt, cobalt intermediate products, cobalt salt, four cobalt and other prices electrolytic cobalt market transactions are light, domestic electrolytic cobalt suppliers reduced start or stop production, overseas Glencore electrolytic cobalt production equipment problems, or affect part of the supply, electrolytic cobalt destocking, all fell, the futures market gradually upward, will drive the spot quotation to rise. On the other hand, the inquiry order for cobalt intermediate products is light, and mainstream orders such as cobalt salt and cobalt tetroxide have not been signed, which is lower than the previous price, and the price acceptance of cobalt intermediate products is expected to decline slightly. "View details

SMM data show that as of March 30th, the price of electrolytic cobalt was 341000,371000 yuan / ton, with an average price of 356000 yuan / ton, which was the same as yesterday.

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