On March 8, Ningbo Ronbay New Energy Technology Co.Ltd(688005) announced that the company did not participate in nickel futures trading.
According to the announcement, recently, Ningbo Ronbay New Energy Technology Co.Ltd(688005) learned through telephone, interactive platform and other channels that some investors have doubts about whether the rise of nickel price on the London Metal Exchange (LME) has an impact on the company’s operation and other related matters. In order to avoid misleading investors, the company held a teleconference on relevant issues concerned by investors, The management representatives of the company attended the meeting and made relevant explanations.
Ningbo Ronbay New Energy Technology Co.Ltd(688005) announced that the company’s raw material supply is normal and the raw material inventory cycle is maintained within a reasonable range. The rise of metal nickel price will not affect the profitability of the company in the short term. In the long run, the supply of nickel metal is sufficient, and the short-term nickel price fluctuation will not affect the long-term development of the industry, nor the operation and development of the company. The company does not participate in nickel futures trading. At present, due to panic and speculation in the futures market, nickel prices have risen rapidly in the short term. In the long run, from the perspective of nickel supply and demand balance, the current high price state is unsustainable.
Ningbo Ronbay New Energy Technology Co.Ltd(688005) also said that the supply and demand fundamentals of nickel resources were not affected by the rapid rise of nickel futures prices, and there was no significant change in the supply and demand structure. The development prospect of power battery is broad. Indonesia’s hydrometallurgy technology and high nickel matte technology have been successful. Many Chinese foreign manufacturers have begun to layout nickel metal in Indonesia. In the long run, nickel resources are the supply-demand structure of oversupply, and the price will return to a reasonable period. During this period, high nickel cathode materials still have high growth space. Affected by the futures market, the sharp rise of nickel price is a very short-term behavior. The company has a layout in nickel resources to improve the stability of supply.
In addition, Ningbo Ronbay New Energy Technology Co.Ltd(688005) said that there was no problem with the company’s current supply of lithium raw materials. There is a shortage of lithium resources in the market, and the company has the advantage of giving priority to guarantee supply. The rise of lithium price can be transmitted to the downstream according to the formula pricing method, and has no impact on the company’s profit in the short term. In the long run, the price of lithium carbonate has increased significantly. Some new energy vehicle and power battery manufacturers have switched some iron lithium routes to high nickel routes. The excessively high price of lithium resources will promote the development of lithium resources and the decline of lithium resource prices, and accelerate the development of new routes such as sodium ion batteries, Sodium ion batteries have a certain market space in the field of energy storage and low-end power batteries.
Ningbo Ronbay New Energy Technology Co.Ltd(688005) today’s share price fell sharply. As of the closing, it fell nearly 18%, and the turnover of the whole day exceeded 2.9 billion yuan. After hours data released by the exchange showed that the Shanghai Stock connect bought 166 million yuan and sold 263 million yuan; One institution bought 243 million yuan and four institutions sold 658 million yuan. The total net sales of institutional seats Ningbo Ronbay New Energy Technology Co.Ltd(688005) exceeded 400 million yuan.
