Shanshan Group completed the acquisition of LCD polarizer business, and its Q1 revenue increased by 227% year-on-year

On April 28, Suning Holdings Group released its first quarter report for 2021, achieving operating revenue of 3.999 billion yuan, a year-on-year increase of 227.17%; net profit attributable to shareholders of the listed company was 302 million yuan, compared with a loss of 83.7003 million yuan in the same period last year; net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 281 million yuan; basic earnings per share was 0.186 yuan.

Shanshan shares pointed out that the revenue growth was mainly due to the increase in production and sales of lithium batteries and Eureka segments during the reporting period, and the year-on-year increase in sales revenue; during the same period, the company completed the acquisition of LCD polarizer business and included it in the scope of consolidation. The net profit increased significantly year-on-year, mainly due to the significant performance contribution of the newly added polarizer business in this period, which achieved a net profit of 193 million yuan attributable to shareholders of the listed company.

At the same time, Shanshan's cathode material business achieved a net profit of 74 million yuan attributable to shareholders of the listed company, an increase of 76 million yuan year-on-year; the cathode material business achieved a net profit of 102 million yuan attributable to shareholders of the listed company, an increase of 101 million yuan year-on-year, a year-on-year increase of 7324.67%. This is mainly due to the continued prosperity of the downstream new energy vehicle market, and the steady increase in the sales of the company's cathode and anode materials.

In addition, the prices of some raw materials fluctuated upward, and Shanshan continued to give full play to its advantages in integrated production lines, intelligent manufacturing, cost control, etc., and the profitability of positive and negative electrode materials increased. The electrolyte business achieved a net profit of 70 million yuan attributable to shareholders of the listed company in this period, turning losses into profits year-on-year, mainly due to the increase in electrolyte prices. At the same time, the company has its own lithium hexafluorophosphate production capacity, and the gross profit margin level has increased.