\u3000\u30001. The performance of lithium resources enterprises is outstanding, and the prosperity of the sector continues. The performance forecast of enterprises in the lithium sector (Shenwan class II) was released, and all four lithium resource enterprises were pleased. According to the performance forecast of 2021 issued by each company, the enterprise with the largest year-on-year increase is Chengxin Lithium Group Co.Ltd(002240) . The company expects to realize a cumulative net profit attributable to the parent company of 830-920 million yuan during the reporting period, with a year-on-year increase of about 2954.31% – 3285.50%; Secondly, Ganfeng Lithium Co.Ltd(002460) is the enterprise with large year-on-year growth. The company is expected to realize a net profit attributable to the parent company of 4.8-5.5 billion yuan during the reporting period, with a year-on-year increase of 368.45% – 436.76%; Tianqi Lithium Corporation(002466) and Tibet Mineral Development Co.Ltd(000762) turn losses into profits. The prosperity of lithium resources industry continues to strengthen, which has formed a great thrust on the performance of lithium resources enterprises. In 2021, the cumulative sales volume of Shanxi Guoxin Energy Corporation Limited(600617) vehicles reached 3.521 million, a year-on-year increase of 157.5%. The large volume of new energy vehicle market has driven the demand for all kinds of lithium materials. Looking ahead, in the short term, although many lithium resource companies around the world are accelerating the progress of their production projects, it is expected that most of the new capacity will be released in the second half of 2022. In the long run, with the continuous promotion of global low-carbon transformation, the scale of new energy vehicle market will continue to expand. Under the background of the continuous prosperity of new energy vehicle industry in the future, the prosperity of lithium resource industry is expected to remain high, and the performance of lithium resource enterprises is expected to continue to shine.
\u3000\u30002. Among the main non-ferrous metals, copper rose by 4.0% in the week, and the price of lead fell. In terms of copper price, as of February 4, 2022, Comex copper rose 4.0% in the week. The rise in copper price is mainly affected by the fluctuation of the political environment in South American countries. Due to the refusal of local communities and environmental protection institutions to issue business licenses to copper mining enterprises, there may be some restrictions on the supply of copper resources. In terms of lead price, as of February 4, 2022, LME lead fell by 3.3% in the week. China is a major producer of lead-acid batteries in the world. Affected by the Spring Festival, the downstream battery plants have stopped production, and the global demand for lead has declined to a certain extent.
\u3000\u30003. The high oil price pushed up inflation expectations and strengthened the action force on gold prices. Recently, the international oil price has risen one after another. As of February 4, 2022, the main futures price of Brent crude oil has been reported at US $93.3/barrel, up 3.6% a week and 2.4% the previous week; The settlement price of WTI’s main crude oil futures was US $92.3/barrel, up 6.3% in the week and 2.0% in the previous week, both reaching a new high since 2014. Against the background of the previous high of crude oil prices, global inflation expectations are further heating up, and the driving force for the rise of gold prices is constantly strengthening.
\u3000\u30004. Market review. From January 24, 2022 to January 28, 2022, one of the nine CITIC nonferrous metals sub sectors rose throughout the week and eight fell. Among them, the lithium sector increased the most, with an increase of 6.6%; Copper sector fell the most, with a decline of 8.7%. In terms of individual stocks, the top three weekly gains were Guangdong Hoshion Aluminium Co.Ltd(002824) , Ganfeng Lithium Co.Ltd(002460) , Tianqi Lithium Corporation(002466) , with weekly gains of 10.9%, 9.2% and 7.8% respectively; The top three weekly declines were Baoji Titanium Industry Co.Ltd(600456) , Jiangsu Asia-Pacific Light Alloy Technology Co.Ltd(002540) , Yunnan Aluminium Co.Ltd(000807) , with weekly declines of 15.8%, 15.5% and 15.0% respectively.
Investment advice
Under the continuous high prosperity of lithium resources industry, the upstream production enterprises of new energy may benefit, such as: Qinghai Salt Lake Industry Co.Ltd(000792) , Tianqi Lithium Corporation(002466) , Zangger mining, etc.
Risk tips
The sales growth of new energy vehicles was lower than expected, the international epidemic was repeated, and the safety and environmental protection policies changed.
