Energy Lithium Energy can have a net profit in the first half of the year without price increases in the first half of the year.

On August 25, Yimei Lithium released the half -annual report in 2022. During the reporting period, the company realized operating income of 14.926 billion yuan, an increase of 127.54%year -on -year; net profit attributable to shareholders of listed companies was 1.359 billion yuan, a year -on -year decrease of 9.08%; net profit attributable to shareholders of listed companies was 11.94 billion yuan in net profit and loss of non -recurring profit and loss. Yuan, a year -on -year decrease of 16.22%; the net cash flow generated by operating activities was 1.810 billion yuan, an increase of 441.07%year -on -year.

In the past two years, Yimei Lithium's revenue has maintained growth. In 2021, the company realized operating income of about 16.9 billion yuan, an increase of 107.06%year -on -year; net profit was about 2.9 billion yuan, a year -on -year increase of 75.89%. In 2020, the company achieved operating income of 8.162 billion yuan, an increase of 27.3%year -on -year; net profit was 1.652 billion yuan, an increase of 8.54%year -on -year.

In the first half of 2022, Yimei Lithium could be affected by the rise in upstream materials, and the net profit also declined, which also reflected in the stock price. On August 26, Yimei Lithium could close at 101.30 yuan/share, down 3.39%. In the first and second quarters of this year, the net profit of Yiwei Lithium was 520 million yuan and 840 million yuan, respectively.

In this regard, Yimei Lithium said that while the price of metal lithium rose, because it was a benchmark company in the industry, in the case of economic downturn, it did not make price increases after communicating with downstream partners. If lithium carbonate production capacity is released in the second half of the year, the pressure of lithium sources will also be reduced.

Regarding the growth of revenue, the main reason for the growth of Yiwei Lithium can be said that during the reporting period, the company's square -shaped iron phosphate battery and soft bag ternary battery shipment increased significantly; especially in the energy storage market, especially in the energy storage market. The company's strategic layout of the energy storage market has been the first to carry out business cooperation with major domestic telecommunications operators, communications facility leading enterprises, and multi -local power grid companies in the fields of communication or grid -side supporting. A number of well -known domestic and foreign brand customers have been accumulated in the field.

At the same time, the great growth of Yimei Lithium's business volume is also inseparable from the coordination of upstream and downstream, and its supply chain management advantages are prominent. According to incomplete statistics, through enterprises such as Germany, Bateri, Huayou Cobalt, Enjie, Zhongke Electric, New Zebang, Kim Kunlun, Sichuan Energy and Honeycomb Energy, etc. It can deploy upstream resources such as positive and negative materials, negative materials, diaphragms, electrolytes, and nickel, cobalt, lithium and other upstream resources. This is not only conducive to ensuring the stability of its supply chain, but also to reduce the impact of the price fluctuations of raw material price on its own product cost, thereby improving the company's comprehensive competitiveness level.

It is reported that the main businesses of Yimei Lithium include the research and development, production and production, production and production of consumer batteries (including lithium -ray batteries, small lithium -ion batteries, cylindrical batteries) and power batteries (including new energy vehicle batteries and their battery systems, energy storage batteries) Sales. For Yimei Lithium, the power battery business is currently the main revenue force of Yimei Lithium Energy. Data show that in the first half of 2022, the operating income of Yimei Energy Power Battery's business revenue reached 10.262 billion yuan, accounting for nearly 70%of the total revenue, an increase of 163.76%year -on -year. In addition, the consumer battery business achieved operating income of 4.62 billion yuan in consumer battery business in the first half of the year, an increase of 73.08%year -on -year.

At present, many lithium battery manufacturers, including Ningde Times, Guoxuan Hi -Tech, Xinwangda, and Paineng Technology, have successively announced the first half of 2022. Judging from the data such as net profit, gross profit margin, and net interest rate, many manufacturers are growing from the previous month.

Although the cost of upstream raw materials is rising, the cost of upstream materials has gradually declined in the second quarter, reducing the cost pressure of lithium battery manufacturers. At the same time, some manufacturers have also adopted price increases while rising raw materials to relieve cost pressure.

From the perspective of most manufacturers, Everbright Securities believes that the recovery of the gross profit margin of Ningde Times indicates that the overall profit improvement of the battery link is expected. Some customers will increase the price of the price in Q3, and the subsequent gross profit margin is expected to further rebound.

It is worth mentioning that Yimei Lithium can currently master the three -yuan large cylindrical battery technology, and took the lead in completing the capacity layout of the 3 yuan high -ratio of the 3 yuan high ratio of the 46 Series in China. Bring business growth. Yimei Lithium can say on the interim reporting call that the capacity of the ternary large cylindrical battery is expected to be trial-produced in Q4, climbing upside from March to June, and shipping in the second half of next year.

Yiwei Lithium can also say that the production capacity of the self -built Jinhai Lithium will be put into production in the second half of the year, which will directly affect the profit and small battery profits. Although this profit is not determined in the battery sector or the investment income, it can be determined that it can significantly improve the current profit.

At present, Yimei Lithium has a total production capacity plan for nearly 300GWH, including the announced Jingmen 153GWH, Yunnan Yuxi 10GWH, Qujing 10GWH, Chengdu 50GWH, Huizhou has built 10GWH soft bags, 20GWH joint venture with SK, and 10GWH in the industry. Its planning to build a factory in Hungary also wait and see.

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