On April 13, Jiangxi Special Electric Motor Co.Ltd(002176) ( Jiangxi Special Electric Motor Co.Ltd(002176) ) disclosed the performance forecast. In the first quarter of 2022, Jiangxi Special Electric Motor Co.Ltd(002176) is expected to realize a net profit of 630 million yuan to 680 million yuan attributable to shareholders of listed companies, with a year-on-year increase of 761% to 829%. The reason for the significant year-on-year increase in performance is that the external environment of lithium salt business continued to improve during the reporting period and the demand for lithium salt from downstream customers increased.
In addition, the performance express disclosed by Jiangxi Special Electric Motor Co.Ltd(002176) shows that the company achieved a revenue of 2.982 billion yuan in 2021, a year-on-year increase of 61.74%; The net profit was 387 million yuan, a year-on-year increase of 259921% Jiangxi Special Electric Motor Co.Ltd(002176) said that in 2021, the external environment of lithium carbonate business continued to improve, the downstream demand increased, the sales price increased significantly compared with the same period last year, the production and sales volume of the company’s lithium carbonate business increased significantly compared with the same period last year, and its operating revenue and profitability increased significantly.
From the data, the net profit of Jiangxi Special Electric Motor Co.Ltd(002176) in the first quarter of this year has exceeded the net profit of last year, and the growth of performance mainly comes from the substantial growth of lithium salt business. According to the data of Shanghai Nonferrous Metals network, the quotation of China’s battery grade lithium carbonate was 500000 yuan / ton on April 11, up nearly 80% this year. “The price of lithium salt products has increased significantly, and the profit of the company’s lithium salt industry has increased significantly compared with the same period of last year.” In the performance forecast of the first quarterly report, Jiangxi Special Electric Motor Co.Ltd(002176) said.
According to the data, Jiangxi Special Electric Motor Co.Ltd(002176) 1991 was restructured from Jiangxi Yichun motor factory and listed on Shenzhen Stock Exchange in 2007. In the first few years of listing, Jiangxi Special Electric Motor Co.Ltd(002176) development focused on the motor business. In recent years, relying on the advantages of Yichun, Jiangxi, the “lithium capital of Asia”, the company has quickly cut into the field of lithium salt. In the context of the high prospect of the new energy industry chain, the performance of Jiangxi Special Electric Motor Co.Ltd(002176) has also ushered in an explosion.
According to Jiangxi Special Electric Motor Co.Ltd(002176) 2021 semi annual report, the company has 2 mining rights and 5 exploration rights of lithium porcelain ore in Yichun Area, with a total of more than 100 million tons of lithium ore resources held or controlled and large resource reserves. By mining its own lithium porcelain ore, the company extracts the main product lithium mica from lithium porcelain stone, and extracts feldspar powder, tantalum and niobium and other by-products, so as to realize the comprehensive utilization of lithium ore mining and beneficiation. Lepidolite is the main raw material for preparing lithium carbonate, which is deeply processed by the company. Feldspar powder is an important material for manufacturing ceramics and glass. Tantalum and niobium are used in national defense, aerospace, electronic computer and other fields. Feldspar powder and tantalum and niobium are sold by the company.
At the same time, Jiangxi Special Electric Motor Co.Ltd(002176) is also increasing the layout of lithium salt project. On April 7 this year, Jiangxi Special Electric Motor Co.Ltd(002176) announced that the company plans to invest with its wholly-owned subsidiary Jiangxi jiangte Mining Development Co., Ltd. in Yifeng, Jiangxi Province to build a lithium mining and dressing project with an annual output of 3 million tons and a lithium salt project with an annual output of 20000 tons, with a total investment of about 2 billion yuan.
According to the plan, the project will be completed and put into operation within 24 months after being approved and meeting the conditions for commencement. Among them, the 20000 ton lithium salt project may introduce downstream head customers and strategic investors to participate in joint ventures to realize the complementary advantages of the industrial chain Jiangxi Special Electric Motor Co.Ltd(002176) said that the company’s investment in the construction of “mining and beneficiation” integration and lithium salt processing project in Yifeng county is conducive to shortening the transportation mileage of raw materials and reducing the operating cost.
