According to the data of , as of February 17, the net profit attributable to the parent of the four companies that have issued the performance express of 2021 has increased significantly; Among the 88 companies that disclosed the performance forecast for 2021, 75 were pre happy. More than 80% of the companies that have disclosed their performance in 2021 reported good news.
The gradual recovery of the market, global economic recovery and strong downstream demand have become the key factors for the performance growth of the non-ferrous metal industry in 2021. The reporter of China Securities Journal noted that after the Spring Festival, the prices of “hot” metals such as aluminum, praseodymium, neodymium oxide and lithium continued to rise. Insiders said that benefiting from the rapid development of the new energy industry, the prices of relevant non-ferrous metal varieties still have room to rise in the future.
4 companies released performance express
According to the statistics of the reporter of China Securities News, the companies that have disclosed the 2021 performance express are Jinduicheng Molybdenum Co.Ltd(601958) , Xiamen Tungsten Co.Ltd(600549) , Nanjing Yunhai Special Metals Co.Ltd(002182) and Earth-Panda Advanced Magnetic Material Co.Ltd(688077) . Among them, the net profit attributable to the parent company of three companies increased significantly in 2021.
Xiamen Tungsten Co.Ltd(600549) in 2021, the net profit attributable to shareholders of listed companies was 1.179 billion yuan, with a year-on-year increase of 92.04%. As for the reasons for the substantial increase in performance, the company said that in 2021, the production, sales and price of tungsten and molybdenum products of the company increased year-on-year; The overall sales volume of ternary materials increased significantly year-on-year, and the scale effect further appeared; The operating revenue and profit of rare earth products have increased significantly.
Earth-Panda Advanced Magnetic Material Co.Ltd(688077) in 2021, the net profit attributable to shareholders of listed companies was 152 million yuan, with a year-on-year increase of 191.5%. Earth-Panda Advanced Magnetic Material Co.Ltd(688077) said that in 2021, the demand for high-performance sintered NdFeB in downstream application fields increased vigorously. The company’s Sintered NdFeB production capacity in Baotou and Hefei continued to release, providing production capacity guarantee for market development. The company seized the market opportunity, continuously strengthened product R & D and market development, significantly increased orders and continued to increase sales.
Tungsten, molybdenum, magnesium and other small metals also staged a “hot” market. Jinduicheng Molybdenum Co.Ltd(601958) in 2021, the net profit attributable to shareholders of listed companies was 471 million yuan, with a year-on-year increase of 158.89%. The main reason for the substantial growth of the company’s performance is that the price of molybdenum outside China rose year-on-year in 2021. The company further optimized the product sales structure and strengthened cost control and management.
Nanjing Yunhai Special Metals Co.Ltd(002182) in 2021, the net profit attributable to shareholders of listed companies was 503 million yuan, with a year-on-year increase of 106.53%. The company released the performance forecast for the first quarter of 2022 on the evening of February 13. It is expected to realize a net profit of 270 million yuan to 370 million yuan attributable to the shareholders of the listed company, with a year-on-year increase of 257.94% – 390.52%.
performance “multi-point flowering”
According to the data, 88 companies have disclosed the performance forecast of 2021. Among them, 63 companies increased in advance, 12 companies reversed losses, 4 companies reduced in advance, 6 companies suffered the first loss, 2 companies continued to suffer losses and 1 company reduced in advance.
According to the lower limit of net profit growth, 46 companies expect their net profit to more than double year-on-year. Among them, four companies increased by more than 20 times in advance. Affected by the gradual recovery of the market, global economic recovery, strong downstream demand and other factors, the price rise of non-ferrous metal products has become a key factor for the performance growth of industrial companies.
According to the data of Shanghai Nonferrous Metals network, the price of electrolytic copper increased by nearly 21% in 2021. Although the price of electrolytic aluminum has decreased significantly since October 2021, the annual increase is still close to 31%.
Henan Shenhuo Coal&Power Co.Ltd(000933) it is estimated that the net profit attributable to shareholders of listed companies will reach 3.107 billion yuan in 2021, with a year-on-year increase of 767.04%. The company said that with the gradual commissioning of Yunnan hydropower aluminum integration project, the sales volume of electrolytic aluminum products of the company increased by 400000 tons; At the same time, due to the sharp year-on-year rise in the prices of electrolytic aluminum and coal, the profitability of the company’s electrolytic aluminum and coal business has been greatly enhanced.
Nuode Investment Co.Ltd(600110) it is estimated that the net profit attributable to the shareholders of the listed company will be 390 million yuan to 420 million yuan in 2021, with a year-on-year increase of 7142% – 7699%. Nuode Investment Co.Ltd(600110) said that in 2021, the company actively grasped the market development opportunities of the new energy industry, strengthened the development of the copper foil market, continuously improved the operation quality and efficiency, continuously optimized the product structure, and continuously enhanced the profitability of the company; At the same time, the order demand for new energy power batteries of downstream enterprises increased significantly year-on-year, and the demand for lithium battery copper foil increased significantly.
The new energy industry continues to have a high outlook, driving the outstanding performance of new energy metals (lithium cobalt nickel). According to the data, the performance of seven new energy metal companies in 2021 is expected to be good. According to the lower limit of year-on-year increase in net profit, the advance increase of 6 companies exceeded 100%.
Ganfeng Lithium Co.Ltd(002460) it is estimated that the net profit attributable to the parent company will be RMB 4.8 billion-5.5 billion in 2021, with a year-on-year increase of 368.45% – 436.76%. Ganfeng Lithium Co.Ltd(002460) said that in 2021, the new energy vehicle and energy storage industry developed rapidly, the demand of downstream customers for lithium salt increased strongly, the production and sales volume of the company’s lithium salt products increased and the price rose, and the new projects in the company’s lithium battery sector were put into operation and the production capacity was gradually released.
Rare earth industry chain companies also benefit from the rapid development of the new energy industry. The net profits of China Northern Rare Earth (Group) High-Tech Co.Ltd(600111) , Rising Nonferrous Metals Share Co.Ltd(600259) , Shenghe Resources Holding Co.Ltd(600392) 3 companies are expected to increase significantly in 2021.
China Northern Rare Earth (Group) High-Tech Co.Ltd(600111) it is estimated that the net profit attributable to shareholders of listed companies will increase by 4.068 billion yuan to 4.228 billion yuan in 2021 compared with the same period of last year, with a year-on-year increase of 489% – 508%. The company said that with the optimization of the upstream supply side and the support of the downstream wind power, new energy vehicles and other end consumer demand, the supply and demand situation of the main rare earth product market has been improved, which has promoted the price fluctuation of the main products in the rare earth market, increased the transaction activity, improved the operating rate and energy utilization rate of enterprises, and improved the operation quality and efficiency of rare earth production and processing enterprises.
multiple varieties continue the price rise trend
After the Spring Festival, the prices of aluminum, praseodymium oxide, neodymium, lithium and other metal varieties continued to rise.
According to the data of Shanghai Nonferrous Metals network, since February 7, the price of electrolytic aluminum has increased by 410 yuan / ton. On February 17, the average price of electrolytic aluminum was 22660 yuan / ton. With the rise of aluminum price, the profit per ton of aluminum continues to improve.
Citic Securities Company Limited(600030) said that at present, the supply of electrolytic aluminum is affected by the reduction of electrolytic aluminum production in Europe and alumina production in northern China. Chinese electrolytic aluminum enterprises are facing the challenges of shortage of raw materials and rising costs. It is expected that the growth trend of China’s traditional aluminum consumption, such as aluminum and construction, will continue in 2022. Aluminum consumption in emerging fields such as new energy vehicles and photovoltaic is expected to maintain a growth rate of 15% – 20%. Under the expectation of warmer demand, the expansion of supply side disturbance and low inventory effect have effectively supported the aluminum price, and the rise of aluminum price is expected to continue.
According to the data of Shanghai Nonferrous Metals network, the price of battery grade lithium carbonate rose continuously after the Spring Festival. The average price exceeded 400000 yuan / ton on February 14 and rose to 430000 yuan / ton on February 17. Guotai Junan Securities Co.Ltd(601211) said that this year’s lithium mica increment and production progress were lower than market expectations. It is estimated that the global lithium supply will be about 770000 tons of LCE in 2022, with an increase of about 215000 tons of LCE. On the demand side, according to the survey, the production scheduling planning of all battery plants and cathode material plants will basically double in 2022. Compared with the demand growth, the supply of lithium resources in 2022 is still tight.
The rare earth industry chain also benefits from the “bringing goods” of the new energy industry. According to the data of Shanghai Nonferrous Metals network, the average price of praseodymium neodymium oxide was reported at 1.095 million yuan / ton on February 17. In 2021, the price of praseodymium and neodymium oxide increased by nearly 108%. China Securities Journal reporter noted that since the fourth quarter of 2021, the market supply of light rare earth mainstream varieties has been in short supply.
The Pacific Securities Co.Ltd(601099) Securities believes that there is strong demand in emerging fields such as new energy vehicles and industrial motors, and the orders of large magnetic material enterprises have increased significantly. The supply increment is limited, the contradiction between supply and demand is prominent, and the price rise expectation of the industrial chain is strong, showing that the downstream inventory is not high, the upstream is reluctant to sell, and the price rise trend is formed; At the same time, inventory is at an all-time low, further accelerating the rise of prices.
