Ganfeng lithium industry's net profit soared by 506.99% in the third quarter, with an average daily increase of nearly 3000 yuan / ton.

SMM October 27th: October 26th, Ganfeng Lithium Industry released the company's third quarter financial report. According to the announcement, the company achieved a total operating income of 2.989 billion yuan in the third quarter, an increase of 98.50% over the same period last year, and a net profit of 1.056 billion yuan, up 506.99% from the same period last year, in line with its previous forecast for net profit in the third quarter. So far, Ganfeng Lithium Industry has achieved a net profit of 2.472 billion yuan in the first three quarters, up 648.24% from the same period last year.

For the reasons for the growth of the company's performance, Ganfeng Lithium Industry once said that, on the one hand, the company's product production and sales increased over the same period last year, coupled with the increase in the average price of product sales, the company's operating net profit increased; on the other hand, the company's financial assets generated fair value change income, which also contributed to the company's non-recurrent income growth compared with the same period last year.

Public data show that Ganfeng Lithium Industry has long been committed to the research, development and production of deep-processed lithium products, and its comprehensive strength ranks first in the field of domestic deep-processed lithium products. Its main products include more than 20 kinds of metal lithium, battery-grade lithium carbonate and so on. The prices of lead metal lithium and battery-grade lithium carbonate both rose sharply in 2021.

According to the historical price of SMM, lithium metal has been rising rapidly since the end of November 2020. as of October 26, the average spot price of lithium metal was 955000 yuan / ton, up 49000 yuan / ton from the end of November 2020, or 105.4%.

"Click to view the historical price of SMM Metals.

And battery-grade lithium carbonate performance is not willing to lag behind, according to the spot quotation of SMM, entering 2021, the price of domestic battery-grade lithium carbonate ushered in a sharp rise in July. As of October 26, the average spot price of domestic battery-grade lithium carbonate was 192500 yuan / ton, up 139500 yuan / ton or 263.2% from the beginning of the year.

"Click to view the price of SMM new energy products

From this, it is not difficult to see that the increase in metal lithium and battery-grade lithium carbonate alone is enough to benefit Ganfeng lithium industry. And it is worth mentioning that on October 26th, Pilbara's third lithium concentrate auctioned a record high of US $2350 / ton again, SMM believes that the news will further stimulate the price of lithium salt plants to rise, coupled with lithium carbonate SMM expects November-December market will be due to lithium iron phosphate demand superimposed Qinghai winter supply reduction impact caused by supply tension, SMM believes that lithium carbonate prices upward trend is still there. "View details