Sunresin Revenue and Net Profits Hit Record Highs in 2023
Overview
On the evening of April 21, Sunresin(300487.SZ)disclosed its annual report for 2023. In 2023, the company realized operating revenue of $350.5 million, up 29.6% YoY; realized net profit attributable to shareholders of $101.6 million, up 33.4% YoY. Revenue and net profit both hit record highs in 2023.
At the same time, the company intends to pay cash dividends of $0.8 (including tax) per 10 shares to all shareholders, totaling $40.4 million in cash. So far, our cumulative dividends since listing have reached $108.7 million.
Annual Operating Income
DLE Technology – We are Global Leaders
During the reporting period, we continued to lead the market in the field of DLE. In 2023, we obtained four orders for large-scale industrialization projects, realized the new contract amounts totalling nearly $70.4 million and the operating income of $73.2 million. The new orders include a 5,000-ton lithium extraction system and adsorbent of SDIC Xinjiang Luobupo Potash co.,ltd, a whole line of 3,000-ton lithium extraction for Hanacolla in Argentina, and a large adsorbent order from Ma Mizuo.
Up to now, we have completed and are executing a total of 12 industrialization projects of DLE, with the total capacity of 86,000 tons of lithium carbonate/lithium hydroxide, of which 5 have been successfully put into production and operation. The total number of pilot projects is around 120, which provides potential for continuous orders. In 2023, we set up Sunresin S.A. to provide efficient and localized technical services for the large number of customers in the "Lithium Triangle" region, comprising Argentina, Bolivia and Chile. We are committed to improving project development and capacity.
New Technologies
We are at the cutting-edge of the lithium extraction industry through continuous R&D and innovation. In terms of our adsorbent offering, we launched our third-generation lithium adsorbents for salt lake lithium extraction during the year, which are characterized as delivering "high adsorption, high resolution and low boron selectivity". Their product performance is ahead of the known competitors in the market, with significantly reduced cost. In terms of our process, based on the test data of brine samples from around the world, our application process covers almost all brines and their subtypes. In terms of equipment, we are constantly updating our design, quality-controls and overall manufacturing levels to improve the synergy between our process and material. We provide different solutions for brines with different grades. Our whole line of projects covers salt lakes in Qinghai, Tibet, Xinjiang, Europe, North America, South America,and many other locations. We improve the application level of adsorption technology in different resources such as ores ,lithium recycling, associated minerals and clay.
Investment into the Future
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