Anada expects net profit of RMB48.875 million - RMB64.1485 million for the first quarter

On the evening of March 23, Annada released a performance preview saying that it expects to make a profit of RMB48.875 million - RMB64.1485 million in the first quarter of 2022, an increase of 60% - 110% over the same period of the previous year.

Regarding the change in performance, Anada said that during the reporting period, the market demand for titanium dioxide was stable and the prices of raw and auxiliary materials kept rising.

The company took cost control as the core, improved quality and reduced consumption, and enhanced the level of refined control, and the operating performance was stable year-on-year.

Meanwhile, the prosperity of the lithium battery industry chain continued to improve, with strong growth in demand for lithium battery material products from downstream customers, and the release of the production capacity of the newly-built iron phosphate plant of the subsidiary, resulting in a rise in gross profit margin and a significant year-on-year increase in operating results.