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the 2024 semi-annual reports of a-share listed companies have been disclosed. among the 88 a-share listed companies in jiangxi, there are 7 companies with revenue exceeding 10 billion yuan. among them, jiangxi copper ranks first with a revenue of 273.091 billion yuan. huawei design, a listed company on the beijing stock exchange, has a revenue of 31.9487 million yuan, ranking last.

in terms of profit, jiangxi copper(600362.sh, share price 20.34 yuan, market value 70.432 billion yuan)with 3.617 billion yuan, it also ranked first, becoming the most profitable listed company in jiangxi. ganfeng lithium, which made 5.85 billion yuan in the first half of last year, has suddenly become the biggest loss-maker in jiangxi, with a loss of 760 million yuan in the first half of this year.

after reviewing the semi-annual reports of 88 listed companies in jiangxi, it was found that in the first half of this year, 65 companies made profits and 23 companies suffered losses.

7 companies have revenue exceeding 10 billion yuan

in the first half of 2024, among the a-share listed companies in jiangxi, there were 7 companies with revenue of over 10 billion yuan, namely jiangxi copper, xinsteel co., ltd., fangda special steel, jinkosolar, jovo energy, jiangling motors and tianyin holdings. among them, jiangxi copper continued to rank first in jiangxi with an operating income of 273.091 billion yuan.

the second and third largest companies in terms of revenue were tianyin holdings and jinkosolar. tianyin holdings achieved operating revenue of 51.052 billion yuan in the first half of the year, a year-on-year increase of 3.63%, and its semi-annual operating revenue exceeded 50 billion yuan for the first time. tianyin holdings said that benefiting from the recovery of the consumer electronics industry, the company's core business continued to grow, its online business achieved breakthroughs, and its new track business was accelerated, further consolidating its leading position.

jinkosolar achieved operating income of 47.251 billion yuan in the first half of the year and a net profit of 1.2 billion yuan attributable to the parent company. despite the overall pressure on the industry, the company has further consolidated its market position with its high-efficiency products based on n-type topcon technology and a balanced global layout.

image source: screenshot of jinkosolar's semi-annual report

the semi-annual revenue of the two steel stocks was also over 10 billion yuan, but both declined to varying degrees year-on-year. among them, new steel achieved revenue of 21.443 billion yuan in the first half of the year, a year-on-year decrease of 52.21%, and a net loss of 75.47 million yuan attributable to the parent company, turning from profit to loss year-on-year; fangda special steel achieved revenue of 12.752 billion yuan, a year-on-year decrease of 4.75%, and a net profit attributable to the parent company of 163 million yuan, a year-on-year decrease of 42.82%.

the revenue of xingang co., ltd. dropped by more than half, mainly because the company focused on the main business development goal of building a global first-class demonstration enterprise of fine silicon steel and high-quality thick plates, and has basically stopped its trading business. at the same time, the price of steel products fell, resulting in a decrease in the scale of operating income in this period compared with the same period last year.

among the listed companies with revenue exceeding 10 billion yuan, jiangling motors had the best performance growth. the company achieved revenue of 17.92 billion yuan in the first half of the year, a year-on-year increase of 16.14%; net profit of 895 million yuan, a year-on-year increase of 22.77%; non-net profit of 811 million yuan, a year-on-year increase of 94.19%.

another clean energy company, jovo energy, also saw its performance increase by more than 50%. in the first half of the year, the company achieved operating income of 11.267 billion yuan, a year-on-year increase of 1.99%, mainly due to the fact that the company's clean energy business sales revenue remained basically stable during the reporting period, and the sales revenue of energy services and special gas businesses increased; the net profit attributable to shareholders of the listed company was 1.106 billion yuan, a year-on-year increase of 55.23%.

among the 88 a-share listed companies in jiangxi, another four companies had revenues below 100 million yuan in the first half of the year, namely, riyue ming with revenue of 60.693 million yuan, ciwen media with revenue of 49.63 million yuan, xin ganjiang with revenue of 75.2916 million yuan, and huawei design with revenue of 31.9487 million yuan.

lithium battery industry performance has changed significantly

in the first half of last year, ganfeng lithium, the leader in lithium batteries, was also a member of the "10 billion club" in terms of revenue, but this year it has regressed significantly. in the first half of 2024, ganfeng lithium achieved revenue of 9.589 billion yuan, a year-on-year decrease of 47.16%, almost halved; net profit attributable to the parent company also turned from profit to loss, from 5.85 billion yuan in the same period last year to a loss of 760 million yuan this year. in just one year, ganfeng lithium has transformed from the most profitable company in jiangxi to the "king of losses" in jiangxi.

this is also a microcosm of the current situation of the lithium battery industry.

according to ganfeng lithium's semi-annual report, the prices of domestic lithium carbonate and lithium hydroxide have changed dramatically in the past year, with the unit price falling from around 300,000 yuan/ton to around 80,000 yuan/ton now.

among jiangxi a-share listed companies, another lithium carbonate company, jiangte motor, also had a sluggish performance in the first half of this year. in the first half of the year, jiangte motor achieved operating income of 718 million yuan, a year-on-year decrease of 60.09%; net profit attributable to the parent company was a loss of 64.0656 million yuan, compared with a loss of 52.8613 million yuan in the same period last year; non-net profit was a loss of 145 million yuan, compared with a loss of 113 million yuan in the same period last year.

the report shows that jiangte motor currently has two major business segments, namely lithium salt and motor business. the gross profit margin of lithium mining and lithium salt manufacturing is -33.02%.

yichun has the largest reserves of lithium porcelain stone mineral resources in asia, and the exploitable amount of lithium mica ore accounts for about 90% of the country, and is known as the "asian lithium capital". jiangte electric currently has 4 mining rights and 5 prospecting rights in yichun. according to the statistics of proven mining reserves, the company holds or controls a total of more than 100 million tons of lithium ore resources, ranking among the top in china.

however, jiangte motor, which has lithium mineral resources, cannot realize its raw material cost advantage in the sluggish industry. the semi-annual report shows that the revenue of the company's subsidiary engaged in mineral processing and mineral washing and processing was -1.7021 million yuan, which also shows that the company is almost stagnant in this link.

image source: financial report screenshot

however, ganfeng lithium is still strengthening its layout of upstream resources. the company said that in the first half of 2024, the company continued to increase its stake in mali lithium and currently holds 60% of the shares of mali lithium and has acquired control over it. the construction of the flotation production line of the first phase of the goulamina spodumene project under mali lithium is in the final stages, and the crushing production line has been completed and started, and the ore has begun to be crushed for standby use. it is expected to produce the first batch of spodumene products this year.

in addition, ganfeng lithium's cauchari-olaroz lithium salt lake project in argentina is progressing smoothly in capacity ramp-up, with output now climbing to around 70% of its designed capacity. the project plans to complete production of 20,000 to 25,000 tons of lithium carbonate products by 2024.

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