DFD(002407)2024-10-31 09:41Financial Performance - In the first three quarters of 2024, the company achieved a revenue of 6.876 billion CNY, representing a year-on-year decline of 21.73% [1] - The net profit attributable to shareholders was 25 million CNY, impacted by intensified industry competition and fluctuations in upstream raw material prices [1] Industry Insights - The lithium hexafluorophosphate industry is showing signs of bottoming out, with increasing market share for leading companies due to larger production scales and better cost control [1] - The market share of lithium battery materials is expected to continue growing, driven by the increasing penetration of electric vehicles [1] Product and Capacity Updates - The company’s lithium hexafluorophosphate shipment volume in Q3 was approximately 11,000 to 12,000 tons, with a capacity utilization rate of 70%-80% [2] - The overseas shipment ratio of lithium hexafluorophosphate exceeded 20%, with expectations to fluctuate between 25%-30% in the future [2] - The company plans to complete its Korean factory by the end of 2025, while maintaining a high operating rate for existing domestic capacity [2] Battery Technology Developments - The company’s fluorine core battery has over 30% market share in the electric tricycle battery sector, with a cycle life of 4,000 to 6,000 times [3] - The company is actively researching solid-state battery electrolytes, although large-scale industrial application has not yet been achieved [3] - Sodium-ion battery production capacity is currently at 1,000 tons per year, with ongoing development in the supply chain and technology [3] Future Outlook - The company aims for an annual shipment target of around 1,000 tons for LiFSI, with plans to slow down new capacity expansion until market demand improves [4] - The company’s electronic-grade hydrogen fluoride capacity is 60,000 tons, with 40,000 tons for photovoltaic-grade and 20,000 tons for semiconductor-grade [4] - The semiconductor-grade hydrogen fluoride market development has shown significant progress, establishing a solid foundation for future performance growth [4]