Sotong Development: It is expected that the net profit in the first three quarters will increase by 94.21% to 104.77% year-on-year

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Suotong Development (603612) announced on the evening of October 23 that the company expects to achieve a net profit of 920 million to 970 million yuan in the first three quarters of 2022, a year-on-year increase of 94.21% to 104.77%. The growth in performance is due to the release of the production capacity of the first-phase 600kt/a pre-baked anode project of Yunnan Suotong Yun Aluminium-Carbon Materials Co., Ltd. The production and sales of pre-baked anodes in this period have increased significantly compared with the same period of the previous year; The price of anode industry has a higher growth rate compared with the same period of last year; in the first half of the year, both domestic and international prebaked anode prices were in an upward stage, and in the third quarter, the international prebaked anode price still maintained an upward trend. (Securities Times)
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