A big increase in business income such as lithium salt the net profit of China Mineral Resources in the third quarter increased more than three times compared with the same period last year.

On October 10th, China Mineral Resources (002738) issued a performance forecast that the company expects a net profit of 112 million yuan to 132 million yuan attributable to shareholders of listed companies in the third quarter, an increase of 338.44% and 416.85% over the same period last year. In the first three quarters, the company is expected to make a net profit of 285 million yuan to 305 million yuan belonging to shareholders of listed companies, an increase of 183.50% and 203.40% over the same period last year.

China Mineral Resources said that the larger increase in net profit expected to be attributed to shareholders of listed companies over the same period last year was due to a significant increase in market demand for new energy and new materials. the revenue of the company's main products cesium salt business and lithium salt business has increased significantly compared with the same period last year, and the company's profitability has improved.

It is reported that the main business of China Mineral Resources is the development and utilization of rare light metals (lithium, cesium, rubidium) resources, solid mineral exploration technical services and mining rights development business. Of these, the revenue of the rare light metals business reached 624 million in the first half of the year, accounting for 71.43 per cent of the company's overall operating revenue.

In terms of lithium resources, with the strong market demand for LiF and the full production and sales of various production lines of China Mineral Resources, the company is currently carrying out technical transformation and expansion of the battery-level LiF production line, which is planned to reach production within the year. At that time, the company's LiF production capacity will be increased from 3000 tons / year to 6000 tons / year, which will further expand the market share.

In addition, on August 20, China Mineral Resources also announced that the company's annual production line of 25000 tons of battery-grade lithium hydroxide and battery-grade lithium carbonate has been completed and successfully ignited and put into trial operation, and plans to reach production by the end of the year.