The hottest new energy track in the past two years has undergone continuous adjustment in the near future. Statistics show that in less than two months, the market value of the whole lithium battery sector evaporated by 1 trillion yuan.
On January 19, lithium battery concept stocks fell again: the 10 times Bull Stock Yongxing Special Materials Technology Co.Ltd(002756) that just disclosed the performance forecast sealed the limit one hour after the opening; 9x bull stocks Zhejiang Yongtai Technology Co .Ltd(002326) were also pressed on the limit in the afternoon; The market value of Eve Energy Co.Ltd(300014) 200 billion fell by nearly 8%, and fell below the 100 yuan mark, entering the technology bear market; Both Tianqi Lithium Corporation(002466) and Qinghai Salt Lake Industry Co.Ltd(000792) with a market value of 100 billion yuan fell by nearly 6 points; The market value of Byd Company Limited(002594) with a market value of 700 billion also fell by nearly five points.
On the same day, lithium battery leader Qinghai Salt Lake Industry Co.Ltd(000792) disclosed the performance forecast. It is expected that the net profit in 2021 will be 3.88 billion yuan – 4.28 billion yuan, lower than the institutional expectation; The performance of another lithium battery stock exceeded the expectations of the organization, Do-Fluoride New Materials Co.Ltd(002407) it is estimated that the net profit in 2021 will be 1.23 billion yuan – 1.33 billion yuan, an increase of 24 – 26 times over the same period of the previous year.
In addition, the listing of LG’s packaged lithium battery business, the second largest group in South Korea, has also attracted global attention. LG new energy will become the largest IPO in South Korea’s history. It is reported that the subscription amount of LG new energy’s public offering exceeded 600 billion yuan, setting a record in South Korea.
lithium battery leader Qinghai Salt Lake Industry Co.Ltd(000792) performance is lower than expected
On January 19, the leading lithium battery enterprise Qinghai Salt Lake Industry Co.Ltd(000792) disclosed the performance forecast. The company expects the annual net profit of 2021 to be 3.88 billion yuan – 4.28 billion yuan, a year-on-year increase of 90.24% – 109.85%.
During the reporting period, the production and sales of potassium chloride, the company’s main business, were stable, with an output of about 5.02 million tons and a sales volume of about 4.65 million tons; The output of lithium carbonate is about 22700 tons and the sales volume is about 19200 tons. Benefiting from the rising market prices of potassium chloride and lithium carbonate products, the company’s performance increased significantly compared with the same period of last year.
It is worth noting that although the annual performance of Qinghai Salt Lake Industry Co.Ltd(000792) seems to have doubled, it is significantly lower than the expectations of institutions. Previously, several brokerage research institutions predicted that the company’s annual net profit in 2021 was more than 5 billion yuan.
In addition, according to the third quarterly report, Qinghai Salt Lake Industry Co.Ltd(000792) the net profit in the first three quarters of 2021 was 3.715 billion yuan, of which the net profit in the third quarter was 1.601 billion yuan. According to the performance forecast of Qinghai Salt Lake Industry Co.Ltd(000792) annual 3.88 billion yuan – 4.28 billion yuan, the net profit of the company in the fourth quarter is expected to be between 165 million yuan and 565 million yuan, down 64.7% – 89.7% month on month compared with the third quarter. However, from the performance of Qinghai Salt Lake Industry Co.Ltd(000792) in previous years, most of the company’s net profits in the fourth quarter in recent years were in a state of loss, or there was low-temperature freezing in winter.
After the above performance forecast of Qinghai Salt Lake Industry Co.Ltd(000792) was disclosed, many discussions were triggered in the stock bar, and many investors were worried about the trend of the company’s stock price. On January 19, lithium battery stocks Yongxing Special Materials Technology Co.Ltd(002756) , whose net profit is expected to increase significantly year-on-year in 2021, were sold off even though the performance exceeded the institutional expectations, and finally announced the limit. In addition, on January 18, it is estimated that the net profit in 2021 will be 2.1-2.3 billion yuan, slightly lower than the Guangzhou Tinci Materials Technology Co.Ltd(002709) expected by institutional consistency. On the same day, the share price fell by nearly 7%, losing the market value of 100 billion yuan.
On the secondary market, Qinghai Salt Lake Industry Co.Ltd(000792) the latest share price is 29.16 yuan and the market value is 158.4 billion yuan. By the end of the third quarter of last year, the number of shareholders of the company was 285700.
lithium hexafluorophosphate leader Do-Fluoride New Materials Co.Ltd(002407) performance exceeded expectations
However, the performance disclosed by another lithium battery unit exceeded the agency’s expectations.
On the 19th, Do-Fluoride New Materials Co.Ltd(002407) released a performance forecast that the net profit in 2021 is expected to be 1.23 billion yuan – 1.33 billion yuan, an increase of 24 – 26 times over the same period of the previous year. Previously, institutions generally expected the company’s net profit to be about RMB 900 million to RMB 1 billion in 2021.
During the reporting period, the market demand for new material products mainly lithium hexafluorophosphate was strong, the new capacity of relevant products of the company was gradually released, the capacity utilization rate reached a high level, and the profitability was greatly improved.
As the key material of lithium battery electrolyte, the price of lithium hexafluorophosphate has soared against the background of strong industry demand since last year. The price was 112500 yuan / ton at the beginning of 2021 and has recently risen to about 600000 yuan / ton, an increase of more than 4 times.
On the 18th, the performance forecast disclosed by Guangdong Tonze Electric Co.Ltd(002759) showed that the company expected a net profit of 700 million yuan to 750 million yuan in 2021, a year-on-year loss of 10.78 million yuan in the same period of last year. Guangdong Tonze Electric Co.Ltd(002759) Jiangsu Xintai Material Technology Co., Ltd., a wholly-owned subsidiary, is mainly engaged in lithium hexafluorophosphate products. During the reporting period, the production and sales of lithium hexafluorophosphate products increased significantly. At the same time, due to the rapid growth of new energy vehicle industry and the sharp increase in market demand for lithium hexafluorophosphate, the market sales price of lithium hexafluorophosphate increased. Under the influence of dual factors, Guangdong Tonze Electric Co.Ltd(002759) the operating efficiency in 2021 increased significantly year-on-year.
the lithium battery sector continued to callback, and the market value has evaporated 1 trillion
From the performance of the secondary market, the hottest new energy track in the past two years has undergone continuous adjustment in the near future.
On January 19, lithium battery concept stocks fell again: the 10 times Bull Stock Yongxing Special Materials Technology Co.Ltd(002756) that just disclosed the performance forecast sealed the limit one hour after the opening; 9x bull stocks Zhejiang Yongtai Technology Co .Ltd(002326) were also pressed on the limit in the afternoon; The market value of Eve Energy Co.Ltd(300014) 200 billion fell by nearly 8%, and fell below the 100 yuan mark, entering the technology bear market; Both Tianqi Lithium Corporation(002466) and Qinghai Salt Lake Industry Co.Ltd(000792) with a market value of 100 billion yuan fell by nearly 6 points; The market value of Byd Company Limited(002594) with a market value of 700 billion also fell by nearly 5 points.
This round of adjustment of lithium battery sector was started at the end of November last year. At that time, the lithium battery index hit an all-time high of 12140.86, then turned down and fell into a long adjustment period. As of the closing on January 19, the lithium battery index was reported at 9949.04, a correction of 18% from the historical high. In less than two months, the market value of the whole lithium battery sector evaporated by 1 trillion yuan.
However, although lithium battery stocks continue to callback, the price of lithium battery raw materials is still rising. On January 19, the data released by Shanghai Ganglian E-Commerce Holdings Co.Ltd(300226) showed that the price of lithium battery industry chain products continued to rise, and the average price of battery grade lithium carbonate increased by 6500 yuan / ton, with the average price reported at 357000 yuan / ton; The average price of lithium hydroxide of different specifications increased by 5500-7000 yuan / ton, and the highest price was 292000 yuan / ton; Metal lithium increased by 40000 yuan / ton, and the average price was 1.71 million yuan / ton; Spodumene concentrate rose $20 / ton, with an average price of $2460 / ton.
some analysts pointed out that the recent continuous decline of the new energy sector is affected by many factors: first, the decline of subsidies for new energy vehicles; Second, the early increase of the sector is too large and the valuation is too high; Third, the tightening of the Fed’s monetary policy weakened the upward momentum of technology stocks and growth stocks.
The Research Institute believes that new energy is still a high-quality track, but with the overall market value of the sector rising, the track is gradually divided, and it is necessary to identify high-quality enterprises. Some segments are still expected to continue to enjoy dividends, while others face difficulties in keeping up with profit growth. At the beginning of the new year, the market is bound to re-examine the overall new energy sector and select the best from the best.
LG new energy public offering subscribed more than 600 billion
Recently, the listing of LG’s packaged lithium battery business, the second largest group in South Korea, has attracted global attention.
According to the latest prospectus issued by LG new energy, the company plans to issue about 42.5 million shares at the price of US $216.19-252.36 per share, and plans to raise about US $9.2-10.8 billion. The total fund-raising will break the record of $4.12 billion set by Samsung Life Insurance in 2010 and win the title of the largest IPO in South Korea’s history.
On January 19, according to Yonhap, LG new energy’s initial public offering (IPO) subscription application for retail investors ended on the same day, and the cumulative subscription amount and number of subscribers both set the highest record in South Korea. The total subscription amount of seven securities companies including KB securities, Shinhan financial investment and Daxin securities reached 114.06 trillion won (about 611.29 billion yuan), more than 30 trillion yuan more than the previous record (81 trillion won) maintained by skiet, a material subsidiary of SK innovation. The number of subscription for LG new energy public offering accepted by major securities companies in China was 4.424 million, also a record high.
Some brokerage research institutions pointed out that after the listing of LG new energy, the certainty of large-scale production expansion is strong, and the core equipment companies will benefit. They can pay attention to the investment opportunities of relevant lithium battery equipment suppliers.
