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石大胜华扩产后遗症预亏超5200万 定增缩至10亿财务压力待解
Chang Jiang Shang Bao· 2025-07-09 22:28
Core Viewpoint - The company Shida Shenghua (603026.SH) is facing significant financial pressure due to its aggressive expansion strategy in the electrolyte solvent market, leading to expected losses in the first half of 2025 [2][4][10]. Financial Performance - Shida Shenghua anticipates a net loss of between 52 million to 60 million yuan for the first half of 2025, marking a substantial decline of 236.64% to 257.66% compared to the same period last year [6][8]. - The company's revenue has been on a downward trend, with reported revenues of 83.16 billion yuan in 2022, 56.35 billion yuan in 2023, and 55.47 billion yuan in 2024, reflecting year-on-year changes of -32.24% and -1.56% [8]. - The net profit has also decreased significantly, from 8.91 billion yuan in 2022 to just 1.64 billion yuan in 2024, indicating a continuous decline over three years [8]. Expansion Strategy - The company has been actively expanding its production capacity, with plans to raise up to 45 billion yuan for various projects, including a 30,000-ton electrolyte project in Dongying and a 20,000-ton project in Wuhan [4][12]. - Despite the ambitious expansion, the company faced regulatory scrutiny and had to adjust its fundraising plans multiple times, ultimately reducing the target to 10 billion yuan [5][12][13]. - The expansion projects have not yet reached full production capacity, contributing to high fixed costs and operational losses [6][14]. Market Conditions - The electrolyte and carbonate market is currently oversupplied, which has led to declining product prices and increased competition within the solvent industry [3][15]. - The company has reported that the prices of key products, such as methyl tert-butyl ether and lithium fluoride, have dropped significantly, further impacting profitability [7][14]. Strategic Partnerships - Shida Shenghua has strengthened its strategic partnerships with major players like CATL and BYD, which has led to a significant increase in electrolyte sales and market share [14].
石大胜华上半年预亏超5200万元 因内幕信息管理问题被责令改正
Chang Jiang Shang Bao· 2025-07-02 23:08
Core Viewpoint - The company Shida Shenghua is facing significant financial pressure in the first half of 2025, with expected net losses due to product price fluctuations and high costs associated with new facilities [1][2]. Financial Performance - Shida Shenghua anticipates a net profit loss of between 52 million to 60 million yuan for the first half of 2025, a decrease of 90.06 million to 98.06 million yuan compared to the same period last year, representing a year-on-year decline of 236.64% to 257.66% [1]. - The company also expects a loss in its net profit excluding non-recurring items of 53 million to 61 million yuan, down by 84.37 million to 92.37 million yuan from the previous year, reflecting a decline of 268.93% to 294.43% [1]. - This marks the third consecutive year of declining net profit and net profit excluding non-recurring items since 2022 [2]. Revenue Trends - Shida Shenghua's revenue figures for the years 2022 to 2024 were 8.316 billion yuan, 5.635 billion yuan, and 5.547 billion yuan, with year-on-year changes of 17.86%, -32.24%, and -1.56% respectively [2]. - The net profit for the same years was 891 million yuan, 18.726 million yuan, and 16.4196 million yuan, showing declines of 24.42%, 97.9%, and 12.32% respectively [2]. - The net profit excluding non-recurring items was 857 million yuan, 13.2343 million yuan, and 5.3878 million yuan, with declines of 26.4%, 98.46%, and 59.29% respectively [2]. Business Operations - The company has transitioned from traditional chemical operations to focus on new energy and new materials, including sectors such as electrolyte, carbonate, and methyl tert-butyl ether [2]. - The production at the Wuhan base for electrolyte is currently in the customer introduction phase, leading to underproduction and high fixed costs [3]. - The decline in profits is also attributed to falling prices of methyl tert-butyl ether products and lithium fluoride raw materials [3]. Regulatory Issues - Shida Shenghua received an administrative regulatory decision due to issues in insider information management, leading to corrective measures and warnings issued to key executives [4].
电解液供应过剩、产品跌价,石大胜华上半年最多预亏6000万
Di Yi Cai Jing· 2025-07-02 11:56
站在当前时点展望下半年,锂电行业周期底部虽已探明,但以电解液为代表的产业链环节的需求具有不 确定性,并且供给出清漫长,或导致材料制造商下半年仍面临经营压力。 净利润预亏5200万元到6000万元,今年上半年,昔日锂电"明星股"石大胜华(603026.SH)仍未摆脱亏 损的困境。 站在当前时点展望下半年,锂电行业处于缺乏积极信号的空窗期。周期底部虽已探明,但以电解液为代 表的产业链环节的需求具有不确定性,并且供给出清漫长,可能会导致材料制造商下半年仍面临经营压 力。 截至7月2日收盘,石大胜华报收36.78元,总市值75亿元,相较历史最高价345.95元(前复权),已累计 回撤92.52%。 产品跌价致使二季度续亏 石大胜华二季度的亏损,可能出现了加剧的情况。 披露数据显示,今年一季度,石大胜华净利润亏损2853.89万元,按照上半年预亏上限计算,该公司二 季度亏损约3146万元。 石大胜华解释,上半年净利润预亏,主要有三方面因素:第一、武汉基地电解液装置产品正处于客户导 入阶段,产量未达产,固定费用偏高;第二、当期甲基叔丁基醚系列产品因产品价格下降导致利润降 低;第三,二季度氟化锂和氟化锂的原材料碳酸锂产品价 ...
石大胜华:预计2025年上半年净利润亏损5200万元-6000万元
news flash· 2025-07-01 10:56
Core Viewpoint - The company Shida Shenghua (603026) is expected to report a net profit loss of 52 million to 60 million yuan in the first half of 2025, representing a significant decrease compared to the same period last year, with a reduction of 90.0572 million to 98.0572 million yuan, equating to a year-on-year decline of 236.64% to 257.66% [1] Summary by Relevant Categories Financial Performance - The projected net profit loss for the first half of 2025 is between 52 million to 60 million yuan [1] - This represents a decrease of 90.0572 million to 98.0572 million yuan compared to the same period last year [1] - The year-on-year decline in net profit is estimated to be between 236.64% to 257.66% [1] Operational Challenges - The decline in net profit is attributed to the electrolyte production facility in Wuhan being in the customer introduction phase, resulting in lower production and high fixed costs [1] - The profit from the methyl tert-butyl ether product line has decreased due to falling product prices [1] - In the second quarter, the decline in profits is also linked to the drop in prices of lithium fluoride and its raw material lithium carbonate [1]
赣锋锂业20250513
2025-05-13 15:19
赣锋锂业 20250513 赣锋锂业的业务布局和股权结构如何? 赣锋锂业是全球锂行业的龙头企业,覆盖了全产业链,包括上游资源开发、中 游锂盐深加工及金属锂冶炼、下游锂电池制造及回收。主要产品包括碳酸锂、 氢氧化锂、氟化锂和金属锂等。公司董事长李良斌家族合计持股 20%,控股子 公司设置清晰,涵盖上游、中游和下游板块。赣锋锂电曾计划拆分上市,但已 回购股份并宣告分拆上市失败。 赣锋锂业的财务表现如何? 赣锋锂业的盈利水平与锂价周期密切相关,具有较强周期性。2021 年和 2022 年由于新能源行业爆发,导致公司利润大幅增长,2022 年净利润高达 205 亿 元。但随着供需格局转为过剩,24 年实现亏损 21.1 亿元。营收和毛利结构方 面,公司 60%以上来自于上游资源储备,而 30%多来自于下游电池板块。受 24 年锂价下跌影响,公司毛利率降至 10%左右。 公司在各个业务板块上的产能情况如何? 摘要 • 赣锋锂业盈利能力受锂价周期影响显著,2022 年受益于新能源行业爆发 净利润达 205 亿元,2024 年因供需过剩亏损 21.1 亿元。营收主要来自 上游资源储备(60%以上)和下游电池板块(30%多) ...
中矿资源(002738):业绩受锂价拖累 多金属平台发展战略效果渐显
Xin Lang Cai Jing· 2025-05-01 00:40
业绩:24 年公司实现营收53.64 亿元,同比-10.8%,主要受锂价下行影响;25Q1实现营收15.36 亿元, 环比-14.38%,同比+36.37%,主要系铯铷盐业务大幅增长。 利润端,24 全年归母净利润7.57 亿元,同比-65.72%;25Q1 归母1.35 亿元,环比-36.19%,其中Tsumeb 冶炼厂造成净利润亏损1 亿元。 锂盐产销倍增,铯铷盐定价权彰显 24 年:量上,锂盐24 年产量倍增。24 年产销量分别为43732/42649 吨,同比+138%/+145%;铯盐24 年 产量960 吨,同比基本持平,甲酸铯销量2320bbl,同比-21%。价格方面,锂盐24 年平均售价7.34 万元/ 吨,同比下降70%;铯盐价格,24 年平均售价86.26 万元/吨,同比+22%,其中甲酸铯24 平均价格28.75 万元/bbl,同比+102%,公司在铯铷盐领域定价权较强。25Q1:量上,锂盐销量8964 吨,同比+13%; 铯盐销量265 干吨,同比大幅增长78%。价格上,Q1 碳酸锂现货均价7.58万元/吨(不含税6.71 万元/ 吨),同比-1%。 多业务协同明显 锂业务:矿端,公司 ...
昊华科技(600378) - 昊华科技2024年度主要经营数据公告
2025-04-29 16:19
主要原料 2024 年平均采购价(元/吨) 2023 年平均采购价(元/吨) 变动比率(%) 氟化锂 138,604.04 363,501.24 -61.87 氢氟酸 9,153.31 8,713.13 5.05 三氯甲烷 2,504.85 2,394.11 4.63 生胶 31,089.38 33,483.86 -7.15 烟片胶 19,316.16 14,449.56 33.68 聚醚多元醇 9,685.16 10,576.96 -8.43 MDI 15,071.99 15,519.58 -2.88 TDI 16,452.66 17,381.22 -5.34 二甲苯 6,615.49 5,955.96 11.07 环氧树脂 12,426.62 12,876.40 -3.49 三、主要原材料的价格变动情况(不含税) 四、其他对公司生产经营具有重大影响的事项 公司发行股份购买中化蓝天集团有限公司 100%股权已完成交割 过户,中化蓝天集团有限公司成为公司全资子公司,从 2024 年 7 月 起纳入公司合并财务报表范围。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏,并对其内 ...
总投资331亿元!60万吨磷酸铁锂+15万吨碳酸锂等项目开工
鑫椤锂电· 2025-04-28 08:41
关注公众号,点击公众号主页右上角" ··· ",设置星标 "⭐" ,关注 鑫椤锂电 资讯~ 本文来源:贵阳网 4月27日,贵州开阳"磷硫钛铜铁锂氟"耦合循环一体化项目在贵阳市开阳县双流镇双永村正式开工。 -广告- 该项目总投资达331亿元,由贵阳市政府与贵州磷化(集团)有限责任公司联合中核华原钛白、中矿资源 集团等企业共同打造,旨在通过全产业链资源整合,构建新能源材料与传统化工耦合发展的创新模式。 项目建设内容为140万吨七水硫酸亚铁联产40万吨钛白粉、 60万吨 #磷酸铁 、60万吨 #磷酸铁锂 、15 万吨 #碳酸锂 、1万吨氟化锂、2万吨 #六氟磷酸锂 、 10万吨铜冶炼、磷石膏分解制硫酸、热电联产项 目、公辅工程项目。 进固态电池群 ,加小编微信:13248122922 END 会议时间: 2025年7月8-9日(8号报到) 会议地点: 中国·上海 会议咨询: 19921233064(微信同) 会议详情 I C C S I N O 议主 办: 鑫椤资讯 注:添加好友请备注 公司名称、姓名、职务,入群需发送1张您的纸质名片~ ...
碳酸锂:需求疲软,挤压上游利润,偏弱震荡
Guo Tai Jun An Qi Huo· 2025-04-27 06:32
二 〇 二 四 年 度 2025 年 4 月 27 日 碳酸锂:需求疲软,挤压上游利润,偏弱震荡 邵婉嫕 投资咨询从业资格号:Z0015722 shaowanyi020696@gtjas.com 报告导读: 本周价格走势:下跌后震荡运行,基差走强 碳酸锂 LC2507 合约破位 7 万元/吨后在 6.8 万元/吨上下区间震荡。2507 合约收于 68180 元/吨,周 环比下跌 2000 元/吨,2505 合约收于 68380 元/吨,周环比下跌 1940 元/吨,现货周环比下跌 1650 元/ 吨为 69800 元/吨。SMM 期现基差(2505 合约)走强 290 元/吨至 1420 元/吨,富宝贸易商升贴水报价 2505 合约+300 元/吨,周环比走强 220 元/吨。2505-2507 合约价差 200 元/吨,走强 60 元/吨。 供需基本面:下游订单延后通知,需求悲观 供应:本周碳酸锂产量延续减少,虽然锂辉石精矿的价格下跌,但是下跌幅度滞后于碳酸锂价格下 跌,受到成本和销售价格倒挂的影响,4 月中旬开始多家外采矿企业开始减停产。随着锂价下跌,海外锂 盐生产商前期执行保底价格被击破,上下游企业对 ...
谈谈中矿这几年的并购
雪球· 2025-04-03 07:52
长按即可参与 风险提示:本文所提到的观点仅代表个人的意见,所涉及标的不作推荐,据此买卖,风险自负。 作者: 柯中 来源:雪球 本文不吹不黑 , 单纯的记录和分析公开信息 , 并做简单的假设 。 一 、 2017 年 : 阿尔巴尼亚普拉提铜矿 收购标的 : BALKAN RESOURCES 公司持有的普拉提铜矿 100% 采矿权 交易金额 : 首期支付 330.72 万加元 ( 约合人民币 1650 万元 ) , 后期根据开发进度分期 支付最高 500 万加元 ( 约合人民币 2500 万元 ) 资产与储量 : 矿权面积 290 公顷 , 属铁氧化物铜金 ( IOCG ) 型矿床 目前这个矿暂时处于未开发阶段 。 二 、 2018 年 : 江西东鹏新材料 收购标的 : 江西东鹏新材料 100% 股权 交易金额 : 18 亿元人民币 ( 其中现金支付 3.99 亿元 , 其余通过发行股份支付 ) 资产与储量 : 锂盐产能 : 电池级氟化锂 6000 吨 / 年 、 氢氧化锂 + 碳酸锂 2.5 万吨 / 年 。 铯资源 : 通过包销协议锁定津巴布韦 Bikita 矿山铯榴石原料 。 战略意义 : 整合 " 矿产 ...