The performance of the "Eye Eye" of the dry method is super -expected to expand the capacity of the material material of the stars and then speed up

21st Century Business Herald reporter Han Xun Shanghai report

Under the high prosperity of the new energy, the performance of the industrial chain company is frequent.

On the evening of July 5th, the "Eye Eye" of the Dry Law Division was released in the semi-annual performance forecast of 2022. The company's net profit attributable to the mother was about 365 million yuan-3.85 billion yuan, an increase of 227.05%-244.97%year-on-year.

In response, the Zeng Duohong team of Soochow Securities believes that the semi -annual report of Xingyuan material "supermarket expectations".

Affected by the news, on July 6, Xingyuan's material rose by 8.70%to close 33 yuan, which once rose to 33.52 yuan. Since April 21, after "sending and removing rights", the stock price of Xingyuan's material has increased by more than 80%so far.

Thanks to the outbreak of lithium battery

Regarding the reason why the first half of the year's performance has increased, there are two main materials. "First, during the reporting period, the lithium -ion battery diaphragm industry has maintained a good development trend, and the company's operations have continued to develop. Release, the company has strengthened its strategic cooperation with existing customers, and at the same time increase its development at home and abroad, and continuously optimizes the customer structure, thereby driving a significant increase in the overall profit level. The amount of influence belonging to the net profit of shareholders of listed companies is about 15 million yuan. "

"The performance growth of Xingyuan material is mainly due to the outbreak of the demand in the lithium battery industry, the company's production capacity growth, and the customer structure are also optimized. Report reporter.

According to the research report of the Zeng Duohong team of Soochow Securities, in the first half of 2022, the production capacity of Xingyuan's material was 1.5 billion square meters.

Huaxin Securities Research Report also believes that the "quantitative profit rises, the single -level profit continues to rise, the product and customer structure are significantly optimized, and the profit gap between the product and customer structure is significantly optimized. The width and speed, the drying equipment self -developed, and the cost end of the cost end. Looking forward to the future, overseas customers are expected to continue to work hard, the proportion of coating products increases, and the company's single -level profit is expected to continue to increase. "

As the "list" of the dry method, the market share of Xingyuan material has been ranked second in China for a long time.

Analyst analyst of the chemical industry of a securities firm told the 21st Century Business Herald reporter that in terms of drying diaphragm, the overall market structure of the "three -legged" is presented. , But the market share is also growing year by year. "

It said that although in the production of diaphragm, the wet route technology represented by Enjie as the mainstream, and the demand for dry method is still heating, "the core advantage of the dry method is lower, low cost, low production line investment, units, units, units Low energy consumption is more suitable for application scenarios with high cost sensitivity and low energy density requirements, such as energy storage markets. ".

In addition, from the perspective of manufacturing equipment, "the manufacturing equipment of the dry method has been replaced, and the core manufacturing equipment of the wet diaphragm depends mainly on imports. The mainstream equipment manufacturers are more advanced technologies such as Japanese steel institutes and Brookina, Germany."

In the second half of the year of production and speed up

Huaxin Securities Research Report shows that Xingyuan material has also achieved two legs walking. In 2021, the market share of the dry law ranked second, ranking second, and the market share of the wetfaya was 12%, ranking third.

The 21st Century Economic Herald reporter learned in the interview that in the wet equipment, Xingyuan material has long -term cooperation with Brookina. "The company's fifth -generation 6.2 -meter wide production line will be officially put into production in 2022. The largest single -line design capacity is 200 million square meters. The iteration of production line technology will further achieve cost reduction and efficiency."

Soochow Securities Zeng Duohong team research report shows that starting in the third quarter of this year, Xingyuan material will be put into production capacity.

"Among them, the production capacity of the dry method is expected to contribute incremental, and the wet production capacity of the Nantong base is expected to be put into production. We expect the company's shipping growth to speed up in the second half of the year. The proportion of law is expected to increase to 60%+. In addition, the company has benefited from BYD blade batteries, and the proportion of dry law will remain around 40%. "

While the capacity expansion, the overseas customer expansion of Xingyuan material is also accelerating.

Previously, on June 15th, Xingyuan Material announced that the company's wholly -owned subsidiary Changzhou Xingyuan signed a procurement agreement with FreyR. Changzhou Xingyuan will supply FreyR to a wet method, with an agreement amount of about 737 million yuan. Freyr is a clean energy battery producer in Norway.

Xingyuan Material has now cooperated with international customers such as Samsung, SK, Japan Murata. In 2021, the company's overseas market revenue reached 396 million yuan, an increase of about 70%year -on -year.

In China, Star Source Material is a supplier of BYD blade batteries, which is expected to benefit from the development of blade batteries.

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