More than 100 lithium concept companies last year’s performance is expected to account for nearly 90%
As one of the hottest industries in 2021, benefiting from the explosive growth of production and sales of new energy vehicles, the performance forecast of listed companies related to the lithium battery industry is bright.According to China Securities Journal statistics, as of January 26, more than 100 lithium listed companies in 2021 performance is expected to be happy.Among them, lithium raw materials upstream enterprise profit growth rate is the largest, middle and downstream material factory and vehicle end profit pressure.With BYD, Tesla and other enterprises have announced price increases, upstream cost pressure is expected to be relieved.Market institutions believe that the high growth of new energy vehicle production and sales, battery manufacturers will be able to release capacity, is expected to usher in a good situation of volume and price rise.It is expected that the global installed capacity of power battery will reach 450GWh in 2022, and the domestic installed capacity will reach 230GWh.Oriental Fortune Choice data shows that as of January 26, a total of 123 listed companies related to the lithium industry disclosed 2021 performance forecast.Among them, 107 companies have good performance, accounting for about 87%;Twelve expected losses.14 listed companies, such as Tianji, Dingsheng New Material, Defang Nano, Tianqi Lithium, Yan ‘an Bikang, turned losses into profits.A number of listed companies said that in 2021, the global market for new energy vehicles is hot, and the growth in demand for power batteries drives the demand for their products.According to statistics, in 2021, China’s annual sales of new energy vehicles completed 3.521 million units, an increase of 1.6 times year-on-year.In 2021, China’s power battery output totaled 219.7GWh, with a year-on-year growth of 163.4%.In 2021, the market demand for lithium iron phosphate batteries will exceed that of ternary batteries, driving the performance improvement of relevant manufacturers.Data from China Automotive Power Battery Industry Innovation Alliance show that in 2021, the total vehicle load of ternary batteries in China is 74.3GWh, accounting for 48.1% of the total vehicle load, with a year-on-year growth of 91.3%.The total loading volume of lithium iron phosphate battery was 79.8GWh, accounting for 51.7% of the total loading volume, with a year-on-year growth of 227.4%.Tianji, a manufacturer of lithium hexafluorophosphate, said that the rapid growth of the new energy vehicle industry and the market demand for lithium hexafluorophosphate increased, resulting in a rise in the market price of lithium hexafluorophosphate;At the same time, the production and sales of lithium hexafluorophosphate products increased significantly, driving the company’s operating benefits to increase significantly year-on-year in 2021.Defonami said that in 2021, the company’s new capacity will be released, and the production and sales volume will increase significantly compared with 2020.Upstream raw material prices and tight supply and demand of lithium iron phosphate market and other factors drive the company’s product prices;At the same time, thanks to the effective promotion of cost control and the emergence of economies of scale, the company’s profitability has been greatly improved compared with 2020.Power battery aluminum foil copper foil demand continues to rise.Dingsheng new material is expected to be listed company shareholders in 2021 net profit of 410 million yuan to 450 million yuan, 2020 net loss of 14.9943 million yuan.Tongguan Copper foil expects that in 2021, the company’s net profit attributable to shareholders of listed companies will be about 349 million yuan, a year-on-year growth of 387.26%.Since 2021, the price of lithium salt, the raw material for power batteries, has continued to climb.Business data show that as of January 26, the price of industrial-grade lithium carbonate exceeded 350,000 yuan/ton, a one-day increase of 2.34%, a year-on-year increase of 426.43%.The price of battery grade lithium carbonate reached 377,000 yuan/ton, up 2.17 percent on a single day and more than 400 percent year-on-year.Benefiting from the rising price of lithium salt and rising market demand, the listed companies related to lithium ore in the upstream of lithium battery industry achieved high growth in 2021.Ganfeng Lithium, Tianqi Lithium, known as the “double male lithium ore” report card bright in 2021.Ganfeng Lithium expects the net profit attributable to shareholders of listed companies in 2021 to be 4.8 billion yuan to 5.5 billion yuan, up 368.45% to 436.76% year on year.Tianqi lithium expects net profit attributable to shareholders of listed companies to be 1.8 billion yuan to 2.4 billion yuan in 2021, compared with a loss of nearly 1.834 billion yuan in the same period last year.Zangge Mining, Ya-hua Group and Tibet Qomolangma Are expected to make the highest profits of 1.45 billion yuan, 1.05 billion yuan and 900 million yuan respectively in 2021, which are obviously inferior to the “lithium mining double male” in terms of volume.Insiders said the company’s control of lithium assets and mining rights have become the key to the performance differentiation of listed lithium companies.According to data, as of December 2021, Ganfeng lithium’s battery-grade lithium carbonate capacity is 43,000 tons/year, and battery-grade lithium hydroxide capacity is 81,000 tons/year.According to Yangtze Securities, the distribution of Lithium resources in Ganfeng lithium industry has been significantly accelerated in the past two years, including Yiliping/Jintai salt lake projects in China, Goulamina podumene mine overseas, and increased the equity of Sonora clay lithium project. Meanwhile, technical experts have been arranged in groups to Argentina to support the construction of Cauchari Olaroz project.Ensure the project starts production in 2022.Cost pressures are transmitted downward. Some are happy and some are unhappy.At the same time, while the upstream of lithium is making a lot of money, the mid-stream power battery manufacturers of new energy vehicles and the downstream vehicle enterprises bear the greater cost pressure.Ev Lithium Energy, a power battery maker, expects its net profit attributable to shareholders of listed companies to reach 2.726 billion yuan to 3.056 billion yuan in 2021, up 65% to 85% year on year.Cicc said that in the fourth quarter of 2021, the price of upstream raw material lithium carbonate rose 86.5% quarter-on-quarter, and the cost of three yuan/lithium iron cell, the industry power, rose 15.4%/18.5% quarter-on-quarter. Due to the delay in transmission to downstream enterprises, the company’s earnings came under short-term pressure.Gac Group expects to achieve a net profit of 6.6 billion yuan to 7.6 billion yuan in 2021, up 11 percent to 27 percent year-on-year.In 2021, GAC’s own brands were affected by core shortages and rising raw material prices, Dongxing Securities said.Battery factories and oems have channelled cost pressure by raising prices.January 21, BYD official news, due to the sharp rise in raw material prices and new energy car subsidies, such as the impact of byd auto dynasty network and Ocean network related new energy models of the official price adjustment, the increase in the range of 1000-7000 yuan.The price adjustment will take effect on Feb 1 and will not affect customers who sign contracts with deposits before then.Tesla had already been the first to announce price increases.According to the official website of Tesla China on December 31, 2021, the price of Model 3 rear-wheel drive version will be adjusted to 265,652 yuan, an increase of 10,000 yuan compared with the previous price.The rear-wheel-drive Model Y will cost 301,840 yuan, up 21,088 yuan from the previous price.Battery factories are raising prices earlier than carmakers.On October 26, 2021, a byd battery price increase contact letter shows that due to the rising price of lithium battery raw materials, from November 1, 2021, the company will increase the unit price of C08M and other battery products, including tax, based on the current unit price of watt-hour (Wh), a consistent increase of no less than 20%.According to the price increase letter released by Penghui Energy on October 13, 2021, all new orders will be subject to mass linkage pricing, and the increase rate depends on the proportion of materials and the increase rate of each product. The quotation will be updated in real time every week, and orders with long cycles and other notices will not be accepted.In addition, uncollected orders will be renegotiated, and the overall shortening of the account period.Soochow Securities said that with the battery price rise landing, the price of raw materials to slow down, the middle of 2022 is expected to usher in the battery profit turning point.Citic Securities said that the global demand for new energy vehicle power batteries in 2021 is about 289GWh, and it is expected that the global demand for new energy vehicle power batteries in 2025 is expected to reach 1380GWh, and the industry has entered the TWh era.