Yiwei Lithium Energy is expected that the net profit in the first three quarters will increase by 10%-20% year-on-year

Yiwei Lithium Energy announced today that the net profit in the first three quarters is expected to be 2.437 billion yuan 2.659 billion yuan, an increase of 10% -20% year-on-year; the third quarter net profit is expected to be 1.082 billion yuan -12.98 100 million yuan, a year-on-year increase of 50%-80%.

According to the announcement, the company's main business battery business is developing well. With the new factory and new production line entering the mass production stage, the company's shipment scale has grown rapidly. In the first three quarters of 2022, both operating income and main business profit increased by about 110% year-on-year.

On the premise that the investment income of the joint-stock company Simo International Holdings Co., Ltd. has dropped significantly year-on-year and the company continues to increase investment in research and development, the company's performance in the first three quarters of 2022 will still achieve positive growth compared with the same period of the previous year. The main reason is that :

• Against the background of the sharp rise in the prices of major upstream materials, the company adheres to the principle of harmonious development and adjusts the product pricing mechanism in a timely manner, so that the profitability of each product line has been better restored
• The company's main business battery business is developing well. With the new factory and new production line entering the mass production stage, the company's shipment scale has grown rapidly. In the first three quarters of 2022, both operating income and main business profit increased by about 110% year-on-year