[GGII: high increase in China’s energy storage battery shipments in 2021] on March 19, according to the statistics of GGII of the Institute of high technology industry, China’s energy storage battery shipments in 2021 were 48gwh, a year-on-year increase of 2.6 times; Among them, the shipment of electric energy storage battery was 29gwh, an increase of 4.39 times compared with 6.6gwh in 2020. GGII ranked China’s major energy storage cell enterprises according to their shipments in 2021. Contemporary Amperex Technology Co.Limited(300750) ranked first in China, followed by Byd Company Limited(002594) and Zhongtian energy storage, and Zhejiang Narada Power Source Co.Ltd(300068) ranked fourth in China.
[important announcement] on March 15, Ganfeng Lithium Co.Ltd(002460) announced that from January to February 2022, the company achieved an operating revenue of about 3.6 billion yuan, an increase of about 260% year-on-year; The net profit attributable to the shareholders of the listed company was about 1.4 billion yuan, a year-on-year increase of about 300%. In 2021, the operating revenue reached 11.16 billion yuan, a year-on-year increase of 102%; The net profit attributable to shareholders of listed companies was 5.17 billion yuan, a year-on-year increase of 405%. On March 16, Tianqi Lithium Corporation(002466) announced that from January to February 2022, the company expects the operating revenue of lithium concentrate to increase by about 366% year-on-year, and the operating revenue of lithium compounds and their derivatives to increase by about 492% year-on-year. On March 17, Yongxing Special Materials Technology Co.Ltd(002756) announced that from January to February 2022, the company’s lithium new energy business achieved an operating revenue of about 620 million yuan, a year-on-year increase of about 670%, and the net profit attributable to shareholders of listed companies was about 420 million yuan, a year-on-year increase of about 3700%. On March 17, Yunnan Energy New Material Co.Ltd(002812) announced that in 2021, the company achieved a total operating revenue of 7.98 billion yuan, a year-on-year increase of 86%, and a net profit attributable to shareholders of listed companies of 2.72 billion yuan, a year-on-year increase of 144%. On March 16, Cngr Advanced Material Co.Ltd(300919) released its 2021 annual report. The current operating revenue was 20.07 billion yuan, a year-on-year increase of 170%; The net profit attributable to shareholders of the parent company was 940 million yuan, a year-on-year increase of 123%.
[lithium carbonate price may stabilize] [cobalt] according to the data of Shanghai Nonferrous Metals network, on March 18, the mainstream quotation of electrolytic cobalt in China was 560000577000 yuan / ton, and the average price increased by 20000 yuan / ton compared with last week. Cobalt sulfate was reported at 1195120500 yuan / ton, with the average price unchanged from last week. Co3O4 was reported at 440000445000 yuan / ton, with an average price of 10000 yuan / ton higher than last week. In terms of cobalt, the current overseas price is rising rapidly. With the rising cost of raw materials, the inventory of electrolytic cobalt is urgent, and the downstream demand for cobalt is relatively flat. Even if the current supply and demand are reduced, there is still room for the price to rise supported by the high cost. [lithium] according to the data of Shanghai Nonferrous Metals network, on March 18, the price of metal lithium was 3.104-3.164 million yuan / ton, with an average price of 100000 yuan / ton higher than last week. The mainstream price of battery grade lithium carbonate was reported as 5 Shenzhen Fountain Corporation(000005) 06000 yuan / ton, and the average price increased by 10000 yuan / ton compared with last week. The quotation of battery grade lithium hydroxide (coarse particle) is 486000493000 yuan / ton, and the average price is 9000 yuan / ton higher than last week. In terms of lithium, there are few transactions of lithium carbonate this week, and the price tends to stabilize. It is expected that the price of lithium carbonate may stabilize or slightly callback due to the influence of supply and demand pattern and mood in the future. In terms of lithium hydroxide, driven by supply and demand and the price of lithium carbonate, the price may tend to be stable. [ternary materials] according to the data of Shanghai Nonferrous Metals network, on March 18, the price of ternary materials (type 523) was 3675374400 yuan / ton, with the average price unchanged from last week. The quotation of ternary precursor (type 523) is 153 Sichuan New Energy Power Company Limited(000155) 500 yuan / ton, and the average price is the same as that of last week. The price of lithium salt on the cost side increased slightly, the price of precursors stabilized, and the overall manufacturing cost was basically stable. At the supply side, the operating rate of large plants is good, and the operation of small plants is limited due to conduction pressure. On the demand side, due to the impact of nickel price, the demand on the power side is still uncertain, and the demand on the non power side is weak. In the future, it is expected that the lithium price will stabilize or slightly callback, and the precursor price will callback, and the price of ternary materials may decline slightly. [lithium iron phosphate cathode] according to the data of Shanghai Nonferrous Metals network, on March 18, the price of lithium iron phosphate (power type) was 159500164500 yuan / ton, with the average price unchanged from last week. The price of lithium iron phosphate (energy storage type) is 1485152500 yuan / ton, and the average price is the same as last week. It’s highly recommended to focus on: ‘s Contemporary Amperex Technology Co.Limited(300750) 35.
According to pvinfolink data, on March 16, the mainstream quotation of [silicon material] polycrystalline silicon compact was 243000 yuan / ton, and the average price was the same as that of last week. In March, the overall supply of silicon materials remained stable and increased slightly, with a limited growth range month on month. It is expected to focus on the completion of the production capacity and full release of new production capacity in the early stage in the second quarter. [silicon chip] the mainstream quotation of 182mm single crystal silicon chip is 6.700 yuan / PC, and the average price is the same as last week. The mainstream quotation of 210mm monocrystalline silicon wafer is 8.850 yuan / PC, and the average price is the same as that of last week. The price of monocrystalline silicon wafer has maintained a stable trend, and the demand and delivery rhythm have maintained a stable trend, with no violent fluctuations for the time being. The trend of “accelerated thinning” of silicon wafer thickness is becoming stronger and stronger. [cell] the mainstream quotation of 182mm single crystal perc cell is 1.140 yuan / W, and the average price is the same as last week. The mainstream quotation of 210mm single crystal perc battery is 1.150 yuan / W, with the average price rising by 0.9% compared with last week. Affected by factors such as logistics and the operating rate of component repair in March, the price rise of battery manufacturers has been suppressed. At present, some battery chips are still in the warehouse, and the operating rate has not been adjusted temporarily. However, it is feared that due to the slowdown of logistics and downstream procurement, the possibility of accumulation of battery chip inventory from March to April will not be ruled out. [components] the mainstream quotation of 365375 / 440450w single crystal single glass perc components is 1.870 yuan / W, and the average price is 1.1% higher than last week. The mainstream quotation of 182mm single crystal single glass perc module is 1.890 yuan / W, and the average price is 0.5% higher than that of last week. This week, the components were still squeezed by the terminal acceptance and the rise of the supply chain, and there were few orders in March. [photovoltaic glass] the mainstream price of 3.2mm coating is reported as 26.0 yuan / m2, and the average price is the same as that of last week. The mainstream quotation of 2.0mm coating is 20.0 yuan / m2, and the average price is the same as last week. Key recommendations focus on the following: ‘ Hangzhou First Applied Material Co.Ltd(603806) \ , Chengdu Guibao Science & Technology Co.Ltd(300019) , Yangling Metron New Material Co.Ltd(300861) , Levima Advanced Materials Corporation(003022) .
Risk tip: the newly installed capacity of photovoltaic is less than expected, the production and sales of new energy vehicles are less than expected, the sharp fluctuation of raw material prices affects the industry demand, and other unexpected explosion risks.
