-Rongbai Technology's net profit surged 491.36% year-on-year in the first half of the year, and the output of cathode materials is expected to exceed 120000 tons by the end of the year

Rongbai Technology's net profit surged 491.36% year-on-year in the first half of the year, and the output of cathode materials is expected to exceed 120000 tons by the end of the year
author:enerbyte source:本站 click343 Release date: 2023-03-31 13:23:24
abstract:
SMM August 25th News: On the evening of August 24th, Rongbai Technology disclosed its financial report for the first half of 2021. According to financial report data, in the first half of 2021, the company achieved a total net profit of 3.592 billion yuan, up 191.69% year-on-year. The net prof...

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SMM August 25th News: On the evening of August 24th, Rongbai Technology disclosed its financial report for the first half of 2021. According to financial report data, in the first half of 2021, the company achieved a total net profit of 3.592 billion yuan, up 191.69% year-on-year. The net profit attributable to shareholders of listed companies was 321 million yuan, up 491.36% year-on-year.

According to the announcement, during the reporting period, the global demand for new energy vehicles and lithium batteries has further increased. The company's main high nickel ternary cathode material business has full orders, with a year-on-year increase in shipments of about 135%. The market share is far ahead of the industry, and operating revenue has significantly increased compared to the same period last year.

Moreover, in order to implement the environmental protection concept of "carbon peak, carbon neutral", Rongbai Technology is also actively arranging recycling services for waste lithium battery materials, promoting the recycling of power lithium batteries.

In terms of production, Rongbai Technology is simultaneously promoting the production expansion of Hubei Phase V, Zunyi Phase II, and South Korea Phase I. It is expected that the total output of cathode materials will reach over 120000 tons by the end of the year. According to previous data statistics, as of the end of June, the production of high nickel cathode materials of Rongbai Technology has increased by more than 20000 tons, and the newly increased production of nickel cathode materials of another 60000 tons will be gradually released in the third and fourth quarters of this year.

In terms of customers, Baitech is also increasing its cooperation with multiple customers such as CATL, Honeycomb Energy, and Funeng Technology during the reporting period. On July 26, Funeng Technology announced that it had signed a framework agreement with Rongbai Technology for the procurement of cathode materials. It is expected that in the second half of 2021 and the entire year of 2022, Funeng Technology will purchase 5505 tons and 309500 tons of cathode materials from Rongbai Technology, respectively. The purchase price shall be subject to subsequent specific orders.

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