[10.31 Lithium Express] BYD's third quarter net profit plunged 88.58% from the same period last year * Dangsheng Technology increased capital by 830 million yuan to Changzhou Base

[BYD's third-quarter net profit plunged 88.58% from a year earlier] on the evening of Oct. 29, BYD released its third-quarter results. In the third quarter, BYD realized revenue of 31.638 billion yuan, down 9.17% from the same period last year; realized net profit of 120 million yuan, down 88.58% from the same period last year; and deducted non-net profit of 153 million yuan, down 130.12% from the same period last year. BYD said in its report that due to the impact of the macroeconomic situation, it is expected that the overall market demand of the automobile industry will remain weak in the fourth quarter, the impact of changes in the price system of superimposed fuel vehicles and the sharp decline in subsidies for new energy vehicles. New energy vehicle industry sales are below expectations, and the group's new energy vehicle business profits are also expected to decline to a certain extent compared with the same period last year.

It is reported that the Chengdu District Court recently rejected Geely's lawsuit against Weimar employees for infringement of trade secrets. This stage of progress means that the innovation of new car-building forces has been recognized to a certain extent.

[BAIC Blue Valley's total revenue rose 78.64 percent in the first three quarters from a year earlier] the company reported revenue of 17.484 billion in the first three quarters of 2019, an increase of 78.64 percent over the same period last year, according to BAIC Blue Valley's results for the third quarter of 2019. Of this total, revenue in the third quarter was 7.564 billion, an increase of 81.26 percent over the same period last year. BAIC Blue Valley said that the company achieved steady revenue growth in the third quarter, thanks in part to the steady growth in new energy sales of its subsidiary BAIC. On the other hand, it is due to the revenue growth caused by the adjustment of product structure. In terms of product structure adjustment, the main products of BAIC New Energy have been adjusted from EC series to high-end pure electric model EU series. At present, BAIC new energy A0 or above models account for 80%, the average price of more than 120000.

[GM expects its electric car investment to surpass that of fuel vehicles over the next five years.] on October 29th, GM CEO Mary Barra said it expected to spend more on developing and selling electric vehicles than on fuel vehicles over the next five years. Barra made the remarks in response to a question from an analyst on a GM earnings call. She says there is likely to be more R & D and capital spending on electric vehicles over the next five years.

[integrated 401km Dongfeng Honda first pure electric car] on October 30, we learned from Dongfeng Honda officials that X-NV will be officially launched on the 30th. The vehicle is equipped with a permanent magnet synchronous motor with a maximum power of 120kW, the mileage of 60km / h is 532km, and the integrated mileage of NEDC is 401km.

[Dangsheng Science and Technology increased the Capital of Changzhou Base by 830 million yuan to a long-term planned annual production of 100000 tons of cathode materials] on October 29, Dangsheng Science and Technology announced that it would use the raised capital of 700 million yuan and its own capital of 130 million yuan totaling 830 million yuan to increase the capital of Changzhou Dangsheng. After the capital increase is completed, the registered capital of Changzhou Dangsheng will be increased from 50 million yuan to 880 million yuan. The company still holds a 100% stake in Changzhou Dangsheng after the capital increase.

[Zhongtai Automobile's third quarter loss revenue 360 million yuan net profit fell 524% compared with the same period last year] on October 28, Zhongtai Automobile officially released its third quarter report, in which operating income was 360 million yuan, down 88.41% from the same period last year, and the net profit attributed to shareholders of listed companies was 470 million yuan, down 524.5% from the same period last year. In the first three quarters, cumulative revenue was 5.401 billion yuan, down 59.59% from the same period last year. The net profit attributable to shareholders of listed companies was 760 million yuan, down 283.02 percent from the same period last year. As a matter of fact, in the first half of this year, Zhongtai lost a total of $290 million, while in the third quarter, in just three months, it exceeded more than 60% of the loss in the first six months, showing a significant expansion trend. In addition, as Zhongtai failed to announce its half-year results in time before July 15, but lagged behind until August 20, Zhongtai Motors received a regulatory letter from the Shenzhen Stock Exchange a few days ago.

SMM Cobalt Lithium small Metal Research team

Hong Lu 021-51666814

Qin Jingjing 021-51666828

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