Sharp increase in Lithium Carbonate production and sales Jiangte Motor's first-half net profit increased by more than 62 times

On the evening of July 13, Jiangte Motor (002176) disclosed its performance forecast for the first half of 2021. It is expected that the net profit attributable to shareholders of listed companies in the first half of the year will be 175 million yuan to 185 million yuan, an increase of 6214.73% over the same period last year; basic earnings per share are 0.1026 yuan to 0.1084 yuan.

Jiangte Motor said that since December 2020, the external environment of lithium carbonate business has continued to improve, the downstream demand has increased, its sales price has increased significantly compared with the same period last year, and the production and marketing of the company's lithium carbonate business has increased significantly compared with the same period last year. Operating income and profitability have increased by a large margin.

It is reported that the lithium carbonate products produced by Jiangte Motor mainly include battery grade, quasi-battery grade and industrial grade lithium carbonate, which are supplied to lithium iron phosphate and ternary customers.

In April this year, Jiangte Motor said in a survey of the reception agency that the company has two lithium mica lithium carbonate production lines with a total annual production capacity of 15000 tons, a lithium carbonate production line with an annual production capacity of 15000 tons from spodumene, a lithium hydroxide production line with an annual production capacity of 10, 000 tons from spodumene, and a lithium carbonate production line with an annual production capacity of 5000 tons (under construction). The company aims to produce 27200 tons of lithium carbonate in 2021.

In terms of lithium ore resources, Jiangte Motor has three mining rights and three exploration rights in Yichun area, with proven lithium ore reserves of 93.6 million tons, and three other ore sources are in the stage of detailed investigation. a total of more than 100 million tons of lithium ore resources are held or controlled.

Jiangte Electric expects to produce about 200000 tons of lithium mica concentrate in 2021. At the end of last year, the company had 70, 000 tons of lithium mica inventory, mainly supplied by itself, and the difference will be solved by outsourcing processing or outsourcing.