The first quarter financial report analysis of 8 big lithium-electric listed companies general profit double increase

Recently, major lithium-electric listed companies issued a report in the first quarter of 2018. As of April 28, statistics showed that most companies 'revenue and net profit are currently increasing.

Tianli Lithium can: Business income in the first quarter of 2018 was 224 million Yuan, an increase of 60,84 Yuan year-on-year; The net profit attributed to the shareholders of the listed company was 17.64 million Yuan, a year-on-year increase of 27.33 Yuan; The basic earnings per share was 0.44 Yuan, a year-on-year decrease of 12 <UNK>.

Lithium: The operating income in the first quarter of 2018 was 1.05 billion Yuan, a year-on-year increase of 67.97 billion Yuan. The net profit attributed to shareholders of listed companies was 358 billion Yuan, a year-on-year increase of 162.60 Yuan, and the basic earnings per share was 0.48 Yuan. The Lithium industry believes that the supply of raw materials is guaranteed compared with the same period of last year, and the growth of lithium product production and sales has led to corresponding growth in performance.

Tianqi Lithium: The 2018 quarterly report shows that its operating income is 1.67 billion Yuan, an increase of 56.92 Yuan year-on-year; The net profit attributed to shareholders of listed companies was 96.7 billion Yuan, a year-on-year increase of 71.70 billion Yuan. The basic earnings per share is 0.58 Yuan.

Sequoia: The report for the first quarter of 2018 was issued. The report showed that the operating income was 1.814 billion Yuan, an increase of 17.94 % year-on-year; The net profit attributable to shareholders of listed companies was 149.8 billion Yuan, a year-on-year increase of 79.54 yuan, and the basic per share income was 0.133 Yuan, an increase of 75.94 Yuan over the same period of last year.

Xinwangda: The company's operating income from January to March 2018 was 3.535 billion Yuan, a year-on-year increase of 59.53 billion Yuan; The average operating income growth rate of the electronics manufacturing industry is 37.08; The net profit attributed to shareholders of listed companies was RMB 115 million, a year-on-year increase of 58.1 billion. The average net profit growth rate in the electronics manufacturing industry was 33.84 Yuan, and the company's earnings per share was RMB 0.09.

The company said that the company's business plan has been carried out in an orderly manner. As the marketing efforts have increased, the company's main business revenue in the first quarter of 2018 has steadily increased, and the increase in profitability has led to a corresponding increase in performance.

In the market generally reflects a better atmosphere, there are also some companies because of some business reasons have caused revenue and profits to drop significantly.

Kennedy: The announcement in the first quarter of 2018 showed that the company's total operating income was 111,662,190 Yuan, a decrease of 59,88 Yuan from the same period last year; The net profit attributable to the company's shareholders was 31,916.57 million Yuan, a decrease of 255.86 Yuan from the same period last year; The basic earnings per share was -0.13 Yuan, a decrease of 230 Yuan.

Rongjie shares: In the first quarter announcement, the operating income was 31.857 million yuan, a year-on-year decrease of 33.92 <UNK>; The net profit attributed to shareholders of listed companies was 4.15 million Yuan, a year-on-year decrease of 145.58 <UNK>. Basic earnings per share-0,016 Yuan.

Rongjie SHARES believe that the change in financial data in this period is due to the company's upgrade of imported flexible electronic display products, this period compared with the same period last year, reduced the income of the trade business; In the current period, due to the decrease in the delivery of equipment, the operating income of the lithium battery equipment business fell year-on-year, and the profit of the business sector decreased; Due to the reduction of government subsidy income such as the Levy and refund of value-added tax and the first set of government subsidies related to the lithium power equipment business, the profits of non-main business in this period have decreased.

BYD: Net profit in the first quarter of 2018 was 10.2 billion Yuan, a year-on-year decrease of 83.09; Non-net profit loss of RMB 330 million, basic per share income of RMB 0.02, compared with the same period of the previous year of RMB 0.2 a sharp drop of 90 <UNK>. In the first quarter of 2018, the company's operating income was 2,473.8 billion Yuan, a year-on-year increase of 17,54 Yuan. The results also showed that BYD had total assets of 182.096 billion Yuan at the end of the quarter, up 2.24 percent from a year earlier. The net assets of shareholders belonging to listed companies were 5.0537 billion Yuan, an increase of 0.06 Yuan year-on-year. In the outlook for the second quarter of the year, BYD expects that the net profit of shareholders belonging to listed companies from January to June this year will vary by RMB 3-5 billion, corresponding to a change of -82.59 to -70.98.

BYD expects its new energy car business to continue its strong quarterly growth momentum, and sales continue to grow at a high rate year-on-year, but are affected by the downturn in subsidies. The overall earnings of the new energy car business, which includes electric buses and new energy passenger vehicles, have fallen more sharply than in the same period last year. In terms of the traditional car business, BYD expects that although the second quarter was a traditional off-season in the industry, the continued sales of Song Max models still contributed to the rapid growth of the company's traditional car sales, but fierce industry competition still greatly affected the business. Profit level.

Byd also said that in the mobile components and assembly business, the metal components business continues to receive orders for flagship models from leading brands around the world to achieve smooth development, and the glass case business has achieved the shipment of high-end flagship models and achieved a greater degree of large-scale production. Together, it has promoted the significant growth of mobile phone component business. In terms of PV business, BYD expects to maintain a stable development in the second quarter. " View details:" BYD's first-quarter net profit dropped 83 times year-on-year "

Overall, the first-quarter lithium-electric plate company's overall performance shows an increase trend, the market is optimistic about the expected market after the end of the period, and the performance expectations of lithium-electric companies from March to June are also mostly optimistic.

CIC Securities believes that: At present, the resumption process of the new energy automotive industry chain is better than in previous years. The stock preparation effect is more obvious, the demand for the industrial chain is continuously released, and the price of cobalt lithium rises. In the buffer period, under the effect of inventory use and stock preparation, the performance of the industrial chain leader is expected to increase significantly in the first quarter, showing the characteristics of the off-season; In April, the double points policy began to be implemented, and the early rules are expected to form a policy stimulus. In the first half of the year, for the golden allocation period of the new energy automotive industry chain, it is proposed to increase the allocation of individual stocks in each link of the industrial chain. The industry has accelerated the shuffle and increased the degree of concentration. It is recommended that attention be paid to the "scale +" technological advantages, the leading stocks entering the core supply chain, and the theme opportunities of the CATL supply chain.

Changjiang Securities believes that: CATL is a lithium electricity leader recognized by domestic and foreign industries. The listing process has received high attention from the market. The rapid rise of CATL can not be separated from the support of the material industry cluster in the middle reaches of the country, and its accelerated development after financing will also feed the midstream industry. Therefore, it continues to firmly recommend the value revaluation of the middle reaches of lithium, especially the CATL industrial chain. In addition to electric vehicles, at the same time continue to be optimistic about the recovery trend of wind power and industrial control industries, continue to recommend the leading plate.

In the case of the lithium battery industry, subsidies for new energy vehicles have been declining for years, which does have a certain impact on the profits of some parts of the industrial chain, but this can not be a reason to bet on its long-term development, Red Weekly said. In fact, slope reduction helps to catalyze technological progress and drive down costs. Considering that China's high probability in the future is the world's largest market for new energy vehicles, and that China's manufacturing, which has long proven its cost advantages, has great potential for the domestic lithium battery industry in the future.

This year, the development of new energy vehicles will enter a new stage, which means that the economy is returning to good. The short-term downturn is a good time for the layout of the industrial chain. From a deterministic point of view, CATL is undoubtedly the best target, and the fundraising after listing will further strengthen its dominance. The only regret is that CATL is a household name. After the unicorn goes public, it is expected that it will be difficult to have a good buying time soon. Considering that the growth of CATL will also lead to the development of its raw material and equipment suppliers, it is advisable to explore investment opportunities along the supply chain.

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