In 2021, Ganfeng Lithium Co.Ltd(002460) (002460. SZ) broke out.
On January 24, Ganfeng Lithium Co.Ltd(002460) released the annual performance forecast for 2021. It is estimated that the net profit attributable to shareholders of Listed Companies in 2021 will be 4.8 billion yuan to 5.5 billion yuan, a year-on-year increase of 368.45% to 436.76%, and basic earnings per share will be 3.43 yuan to 3.93 yuan per share.
Source: Ganfeng Lithium Co.Ltd(002460) announcement
According to the financial report, Ganfeng Lithium Co.Ltd(002460) in the first three quarters of 2021, the single quarter profit was 480 million yuan, 940 million yuan and 1.06 billion yuan respectively. Based on this calculation, the company’s net profit in the fourth quarter was 2.32 billion yuan to 3.02 billion yuan, accounting for about half of the annual net profit. In 2020, the net profit of Ganfeng Lithium Co.Ltd(002460) was only 1.03 billion yuan .
Ganfeng Lithium Co.Ltd(002460) according to the report, with the rapid development of new energy vehicles and energy storage industry, the demand for lithium salt from downstream customers has increased strongly, so the production and sales volume of lithium salt products of the company has increased and the product price has been rising. In addition, the new projects in the lithium battery sector of the company have been put into operation and the production capacity has been gradually released, so the operating net profit of the company has increased year-on-year.
The interface news reporter found that the price of lithium carbonate, the main revenue of Ganfeng Lithium Co.Ltd(002460) , soared in 2021. the market price of battery grade lithium carbonate in China increased from 53000 yuan / ton at the beginning of 2021 to 275000 yuan / ton at the end of the year, with an increase of more than 400% during the year. at present, the price of lithium carbonate is still high, exceeding 300000 yuan / ton. Battery grade lithium carbonate is one of the key raw materials for power batteries of new energy vehicles.
In addition, Ganfeng Lithium Co.Ltd(002460) pointed out that another major reason for the performance growth was “during the reporting period, the financial assets held by the company generated income from changes in fair value, resulting in a year-on-year increase in the company’s non recurring income.”
In October 2021, Ganfeng Lithium Co.Ltd(002460) once said on the online interactive platform that the profit and loss from changes in the fair value of the financial report in the first half of the year was mainly caused by changes in Pilbara’s share price. Pilbara, an Australian lithium exporter, Ganfeng Lithium Co.Ltd(002460) has subscribed for the shares of the former for many times since 2017. After 2020, the transaction price of Pilbara’s secondary market continued to rise. In the first half of 2021, Pilbara’s market trading price range increased by nearly 70%. As a result, Ganfeng Lithium Co.Ltd(002460) gained a lot from this investment.
According to the third quarter report of 2021, due to the rise in the share price of financial assets held by the company, the fair value income of the company was nearly 1 billion yuan. In addition, Ganfeng Lithium Co.Ltd(002460) also obtained control of bacanora, Sonora and other companies in the same year. Most of these companies have large projects such as lithium clay or spodumene mine. In this performance forecast, these new investment returns have not been included in the performance forecast data, “at present, the relevant evaluation work is still in progress”.
Up to now, Ganfeng Lithium Co.Ltd(002460) has become the industry leader. According to the financial report and other public information, Ganfeng Lithium Co.Ltd(002460) ranks first in the world in terms of the production capacity of metal lithium products. It has controlled a number of lithium resources in Australia, Argentina, Mexico, Ireland, Africa, Qinghai, Jiangxi and other places in China, and laid out laterite nickel mines in Indonesia.
Recently, the policy of lithium battery sector is good news again. On January 24, the State Council issued the comprehensive work plan for energy conservation and emission reduction in the 14th five year plan, which said that by 2025, the sales of new energy vehicles should reach about 20% of the total sales of new vehicles, and the proportion of railway and waterway freight traffic should be further increased. At the same time, the plan points out that by 2025, the proportion of non fossil energy in total energy consumption will reach about 20%. During the 14th Five Year Plan period, the coal consumption in Beijing Tianjin Hebei and its surrounding areas and the Yangtze River Delta decreased by about 10% and 5% respectively, and the coal consumption in Fenwei plain achieved negative growth.
Zhongtai Securities Co.Ltd(600918) analysts said that with the arrival of goods at the end of the year, the price of lithium carbonate has accelerated upward again, and the short cycle boom is still strong.
On January 24, Ganfeng Lithium Co.Ltd(002460) rose by the limit and continued to rise the next day. At the closing on January 25, Ganfeng Lithium Co.Ltd(002460) shares were 138.01 yuan / share, with a total market value of 19.4 billion yuan.
