DFD(SZ:002407)2023-10-27 13:24Group 1: Financial Performance - In Q3 2023, the company achieved operating revenue of 3.521 billion CNY, a quarter-on-quarter increase of 26.04% and a year-on-year increase of 7.71% [2] - The net profit attributable to shareholders was 194 million CNY, with a quarter-on-quarter growth of 22.6% [2] - The company’s performance improved despite intensified industry competition and a continuous decline in lithium carbonate prices [2] Group 2: Product Shipment and Market Strategy - The expected annual shipment of lithium hexafluorophosphate is around 40,000 tons, with Q3 shipments meeting expectations [3] - The company plans to reduce product costs through technological advancements and raw material cost control, aiming to increase market share [3] - The company has stable exports of lithium hexafluorophosphate to major clients in South Korea and Japan, with increasing overseas energy storage orders [4] Group 3: Inventory and Risk Management - The company maintains a cautious approach to lithium carbonate inventory, with turnover kept within 1-2 weeks [3] - It may utilize futures hedging to mitigate risks from raw material price fluctuations [3] Group 4: Strategic Developments - The restructuring of two subsidiaries aims to clarify the equity structure and enhance management efficiency [4] - The company’s battery production capacity is currently 8.5 GWh, with 2.5-3 GWh shipped in the first three quarters, where energy storage batteries accounted for over 30% of shipments [4] - The fluorinated salt segment contributes 15%-20% to overall revenue, but its share is expected to decline as new materials and battery segments grow [5]