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lithium prices fell by nearly 70% year-on-year, lithium companies' performance diverged, and the gross profit of lithium extraction from salt lakes remained "strong" | financial report interpretation

2024-08-30

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cailianshe news, august 30 (reporter zeng chuchu)since the beginning of this year, the continuous decline in lithium salt prices has greatly compressed the profit space of lithium salt companies. yesterday, five lithium companies released their semi-annual reports. affected by the continuous decline in lithium prices, the revenue of lithium companies declined to varying degrees year-on-year, but in terms of net profit, the performance was obviously differentiated.

in the first half of this year, the average price of domestic battery-grade lithium carbonate reached a peak of about 113,000 yuan/ton in mid-march and fell to a low of 88,900 yuan/ton at the end of june. the overall market average price was about 103,700 yuan/ton, down about 69% year-on-year.

among the five lithium companies mentioned above, among those whose raw materials for lithium extraction are lithium mica, yongxing materials (002756.sz) had a net profit of 768 million yuan, a year-on-year decline of 59.63%, while jiangte motor (002176.sz) had a loss of 64.0656 million yuan, an increase in losses year-on-year. jiangte motor said that the decline in profits was mainly due to the decline in the price of lithium salt products and the decline in gross profit.

financial data showed that jiangte motor's operating conditions were not good in the first half of the year. inventories increased by 43.59% from the beginning of the year, mainly due to the increase in lithium salt inventories; short-term loans increased by 352.31% from the beginning of the year, mainly due to the increase in bank loans during the reporting period; at the same time, the net cash flow from financing activities increased by 1558.34% from the same period last year, mainly due to the increase in bank loans during the reporting period.