?

50 Non-ferrous Metals Companies Announce Annual Performance Forecasts And Tianqi Lithium Is Temporarily The Profit King

According to eastmoney.com's Choice data, 50 listed non-ferrous metals companies have announced the 2017 performance forecasts, where 39 companies forecast profits, accounting for more than 70%.

Among them, there are 19 companies each with a forecast net profit of more than RMB 100 million and 13 companies with a more than 100% change in net profits.

Since 2017, the non-ferrous metals industry has seriously promoted the supply-side structural reform, strengthened self-regulation and created a good market environment. In the first 8 months of this year, the nonferrous metals industry showed an overall trend of stable production, rising prices and improving performance. However, structural conflicts such as overcapacity, lack of innovation, financing difficulties and rising costs have not yet been fundamentally solved. Prices are still the main factor affecting the performance of enterprises, and the foundation for the continued industrial development needs to be consolidated.

According to the National Bureau of Statistics, from January to August, the output of China's ten kinds of commonly-used non-ferrous metals was 36.389 million tons, up by 4.9% year-on-year and with an increase of 4.3 percentage points over the same period last year. Their prices saw wave-like growth at a greater rate. In the first 9 months of this year, the average price of four kinds of metals in stock in the domestic market saw huge growth year-on-year. Their economic benefits were improved significantly at a rate declining month by month. In the first 8 months, non-ferrous metals enterprises above the designated size realized a total profit of RMB 154.95 billion, up by 48.4% year-on-year. The number of losing enterprises was 1,384, down by 203 over the same period last year. The price rise of nonferrous metals is still one of the important factors for the recovery of industrial benefits.

In this context, the performance of listed non-ferrous metals companies has been improved. Their annual performance forecasts show that Tianqi Lithium, Ganfeng Lithium and Hoshine Silicon each predicts a net profit of more than RMB 1 billion this year. Tianqi Lithium predicts a net profit between RMB 2.06-2.26 billion and is currently the industry's profit king.