Following the steps of listed companies such as Kweichow Moutai Co.Ltd(600519) , Semiconductor Manufacturing International Corporation(688981) and others, electrolyte leader Guangzhou Tinci Materials Technology Co.Ltd(002709) released the main operating data from January to February for the first time on March 9. The data are very bright: in the first two months of this year, the company achieved an operating revenue of about 3.3 billion yuan, an increase of about 260% year-on-year; The net profit attributable to the shareholders of the listed company was about 860 million yuan, a year-on-year increase of about 470%.
Guangzhou Tinci Materials Technology Co.Ltd(002709) previously released annual performance forecast shows that the net profit attributable to the parent company is expected to be 2.1-2.3 billion yuan in 2021. Compared with the median value of 2.2 billion yuan, the performance of Guangzhou Tinci Materials Technology Co.Ltd(002709) in the first two months of this year has reached 39.09% of that of last year, nearly 40%.
From the perspective of revenue, Guangzhou Tinci Materials Technology Co.Ltd(002709) the revenue in the first two months of this year is close to the revenue of the whole first half of 2021 (RMB 3.699 billion), which is 2.11 times that of the first quarter of last year.
With regard to this business performance, Guangzhou Tinci Materials Technology Co.Ltd(002709) said that from January to February 2022, the new energy vehicle related industry maintained a high momentum of development, the production and sales of the company’s main products were booming, the new production capacity climbed smoothly, the self production rate of main raw materials increased steadily, and achieved good business results.
Electrolyte is one of the main components of new energy vehicle power battery. With the explosive growth of new energy vehicles, electrolyte related companies are also driving on the fast lane. According to the performance forecast or express report released by the two electrolyte giants Guangzhou Tinci Materials Technology Co.Ltd(002709) , Shenzhen Capchem Technology.Ltd(300037) in Guangdong, a leap forward growth has been achieved in 2021 Guangzhou Tinci Materials Technology Co.Ltd(002709) it is estimated that the net profit attributable to the parent company in 2021 will increase by 294.09% – 331.62% year-on-year, and the net profit attributable to the parent company after deduction will increase by 289.72% – 327.57% year-on-year In Shenzhen Capchem Technology.Ltd(300037) 2021, the net profit attributable to the parent company was 1.307 billion yuan, a year-on-year increase of 152.39%, and the net profit attributable to the parent company after deduction of non-profit was 1.233 billion yuan, a year-on-year increase of 156.18%.
In this regard, Bai Wenxi, chief economist of IPG China, told the Securities Daily that the high performance of most electrolyte industry chain companies in 2021 was due to the price increase and sales growth driven by demand.
According to the data, by the end of 2021, the price of lithium iron phosphate battery electrolyte was 110300 yuan / ton; The electrolyte of ternary cylinder 2.2ah and ternary cylinder 2.6ah batteries are 112800 yuan / ton and 121500 yuan / ton respectively.
Under the overall prosperity of the industry, electrolyte related companies in the secondary market have also made rapid progress all the way. In 2021, the lithium electrolyte index (884894. WI) rose by 104.22%, and Do-Fluoride New Materials Co.Ltd(002407) , Guangzhou Tinci Materials Technology Co.Ltd(002709) , Jiangsu Guotai International Group Co.Ltd(002091) and other stocks in the index also rose by more than 80% during the year. However, since the beginning of this year, with the overall correction of the new energy sector, the lithium electrolyte index fell 22.35% as of March 9.
Nevertheless, investment institutions are still interested in companies related to the electrolyte industry chain. From the beginning of the year to March 9, Do-Fluoride New Materials Co.Ltd(002407) , Guangzhou Tinci Materials Technology Co.Ltd(002709) , Yanan Bicon Pharmaceutical Listed Company(002411) respectively received 134, 123 and 91 institutions for research.
Looking forward to 2022, Bai Wenxi believes that a number of electrolyte industry chain companies have announced production expansion plans, which may alleviate the supply and demand situation, and the high price may not be maintained, but due to the increase of sales, the performance will still be relatively stable.
