Strong market demand for lithium materials net profit of Yongtai Technology increased by 136.8% in 2021 compared with the same period last year.

On March 11, Yongtai Technology (002326) disclosed its performance, KuaiBao, that in 2021, the company's total operating income for the whole year was 4.542 billion yuan, an increase of 31.65% over the same period last year; the operating profit was 471 million yuan, an increase of 359.76% over the same period last year; and the net profit belonging to shareholders of listed companies was 284 million yuan, an increase of 136.80% over the same period last year.

Main financial data and index unit of Yongtai Science and Technology in 2021: ten thousand yuan

Yongtai Technology said that in 2021, thanks to the high boom in the downstream new energy vehicle industry, the rapid development of the lithium battery industry has driven the strong demand for lithium electric materials. The company actively seizes the opportunity of industry development, through R & D and innovation, project construction, technology optimization and other measures to increase the production capacity of the company's lithium materials while reducing costs and efficiency, and rapidly develop and expand the company's lithium materials business. achieve a substantial year-on-year increase in sales volume and sales, followed by an increase in business income and profitability.

Data show that Yongtai Technology was founded in 1999 and listed in 2009, headquartered in Taizhou City, Zhejiang Province, the main production bases are distributed in Zhejiang, Jiangsu, Shandong, Fujian, Guangdong, Chongqing, Inner Mongolia. The company's main business takes fluorine-containing fine chemicals as the core, and the main products are divided into three categories according to terminal applications, including pharmaceuticals, pesticides, lithium batteries and other materials. Its traditional Chinese medicine and pesticide plate has vertically built a vertical integrated industrial chain from intermediates to APIs and preparations. Lithium electricity and other material products mainly include lithium battery materials (lithium hexafluorophosphate, lithium difluorosulfonimide, VC, FEC, etc.), fluorinated liquid crystal intermediates and so on.

The battery network noted that in order to meet the expanding market demand, Yongtai Technology is currently actively planning technological transformation and expansion projects, and the main products of lithium battery materials in the next three years will form the following capacity scale: solid lithium hexafluorophosphate annual production capacity of 8000 tons, liquid lithium hexafluorophosphate annual production capacity of 67000 tons; solid lithium difluorosulfonimide annual production capacity of 900tons, liquid difluorosulfonimide lithium annual production capacity of 67000 tons.

It is understood that Yongtai Technology has distributed lithium salt lithium hexafluorophosphate lithium difluorosulfonimide lithium and additives VC FEC and other electrolyte core materials in Fujian and Inner Mongolia. At present, lithium hexafluorophosphate has been put into production of 8000 tons / year, VC products have been put into production of 5000 tons / year, and FEC products have been put into production of 3000 tons / year.

In addition, on February 15, Yongtai Technology announced that the company had examined and passed the "motion on sorting out the strategic layout and disposing of some inefficient projects". To dispose of some inefficient projects, including Zhejiang Yongtai New Energy Materials Co., Ltd. (hereinafter referred to as "Yongtai New Energy", formerly known as "Zhejiang excellent Fine Chemicals Co., Ltd."), in order to optimize the strategic layout, concentrate superior resources to develop the main business. To form a relatively perfect electrolyte industry chain, the company has made a business transformation to Yongtai New Energy, and plans to invest in the construction project with an annual output of 150000 tons of electrolyte, with a total investment of RMB 400 million yuan.

Yongtai Technology's move also officially represents the company to enter the electrolyte field, and with the existing electrolyte core raw materials, it can provide a solid raw material guarantee for the implementation of the Yongtai new energy electrolyte project, thus forming a relatively perfect electrolyte product matrix and building a vertically integrated comprehensive production platform with a benign product strategy.

It is worth noting that on the same day, Yongtai Technology also issued a forecast of the company's first-quarter results in 2022. The company expects a net profit of 372 million yuan to 423 million yuan in the first quarter, an increase of 410% and 480% over the same period last year. The company said that affected by the overall development trend of the new energy industry, the market demand for lithium materials is strong, and prices have risen sharply compared with the same period last year. At the same time, the company's lithium material product types increased year-on-year, such as VC and FEC products, lithium hexafluorophosphate new production capacity was put into production at the end of last year, the scale of production and sales in the first quarter increased more than the same period last year, in the case of prosperous production and sales, the company's lithium material products business income and profitability increased significantly compared with the same period last year.