Lithium battery additives are here!In the Ningde era of the left hand and the right hand, could Huasheng lithium batteries ride from the wind?

Speaking of Daniel stocks in 2021, Yongtai Technology is an indispensable topic. Taking advantage of the trend of lithium battery electrolyte additive VC (ethyl phosphate) shortage, Yongtai Technology once staged the stock price from 8 to 80 yuan. Miracle.

In fact, Yongtai Technology also uses existing devices to transform to produce VC. Today, the real leader of the VC industry is going to the capital market. On the evening of July 7, the disclosure of the lithium battery leader Huasheng Lithium Electricity announced that it was determined that the issue price was 98.35 yuan/share.

According to its prospectus, BYD and Ningde Times, the two major domestic power battery manufacturers, were listed in the top five customers of Huasheng Lithium in 2021. In the Ningde era of the left hand and the right hand, could Huasheng lithium battery "ride the wind" in this era of new energy vehicles?

In the era of lithium iron phosphate, VC rises by the wind

Huasheng lithium battery lithium battery additives, the main products are VC and FEC (fluorodate carbonate). The electrolyte additive is an indispensable raw material for the production of lithium batteries. Because VC and Fec can form a SEI film on the negative surface, VC and FEC have good high and low temperature performance and anti -bloating function, which can significantly improve the capacity and cycle life of the battery. It is still the largest conventional additive in the electrolyte.

In mid -2021, a wave of output of an electrolyte additive VC made many people in the lithium battery industry unexpected. In the impression of many people, the shortage of VC is unimaginable.

The real reason is that the sales of new energy vehicles have exploded and the rise of lithium iron phosphate batteries. After the new energy passenger cars have started, most manufacturers use the three yuan materials with higher energy density. At that time, the focus of the industry's attention was to reduce efficiency through high nickelization costs.

However, as new energy subsidy decline or even withdraws, and the energy density of lithium iron phosphate system has improved significantly, lithium iron phosphate batteries successfully counterattacked the mainstream of the market in 2021. According to data from the High Industry Lithium Electric Research Institute, the shipment volume of lithium iron phosphate battery in 2021 increased by 270%year -on -year.

In addition, compared to ternary batteries, the use of VC in lithium iron phosphate batteries is much larger. According to the prospectus of the Huasheng Lithium Electricity, the company's main product VC is generally about 1%to 3%in the electrolyte. Among them, the addition ratio in the ternary battery electrolyte In the electrolyte formula of lithium batteries, the addition ratio of VC will be higher, generally 3%to 5%.

The shipments of lithium iron phosphate batteries have increased, and the increase in VC in lithium iron phosphate batteries is high, which also leads to the continued state of supply in the market during the market in 2021. The rise.

In 2021, the capacity of Huasheng lithium battery VC was 3118.22 tons, with a capacity utilization rate of 103.94%; the price of VC was 21,200 yuan/ton, and the price was 116,400 yuan/ton last year, and the price rose 180.58%year -on -year.

It can be seen that the VC production capacity utilization rate has been full in 2021. As a result, the expansion of production capacity was also on the agenda. It said that with the rapid growth of terminal demand such as new energy vehicles since the fourth quarter of 2020, the company's electrolyte additive products are in short supply, and the company's capacity utilization rate has continued to increase. The company will expand the production capacity of VC and FEC products through the construction of fundraising projects. After the project is completed, it can add 6000 tons of VC products and 3,000 tons of FEC products, which increases more than existing production capacity.

Entering 2022, various financial indicators of Huasheng lithium battery further improved. Affected by the price increase of the price of electrolyte additives of major products, the company's comprehensive gross profit margin also increased significantly from January to March 2022, which made the company's net profit deducted from the mother.

Lithium battery additive faucet

With the booming of the electric vehicle market, the lithium battery industry chain has benefited a lot. Huasheng lithium battery is precisely the leader of global lithium battery additives. According to Qyresearch statistics, the global market lithium battery electrolyte additive main manufacturer's production market share in 2019, Huasheng lithium battery ranks first with a market share of 22.19%.

According to the market share of global electrolytic liquid additive companies statistics from the Ivy Economic Research Institute, Huasheng Lithium ranks first with a market share of 20.89%. It can be seen that after Huasheng lithium batter landing science and technology board, it will become a well -deserved lithium battery additive leader.

In addition to the high market share, Huasheng lithium battery also regards technological innovation as one of the company's core competitiveness, continuously improves the technical level and optimizes the process route. In the production of VC products, the company has independently studied new details control technology, developed a new type of ultraviolet lighting device, optimized the light strength and voltage parameters, and improved the response efficiency of the optical chloride process. At the same time, the quality of the product has improved the quality of the product; the characteristics of poor thermal stability and light stability of VC products independently developed methods to inhibit VC discoloration and deterioration, ensuring the reliable delivery of the product worldwide.

In addition, Huasheng lithium battery also participates in the formulation of industry standards. It has drafted VC national standards and FEC industry standards, and has a strong influence in the industry. At the same time, the Jiangsu Lithium Battery Material Engineering Technology Center, Jiangsu Lithium Battery Electrochemical Line Instant Engineering Center, Jiangsu Provincial Postdoctoral Innovation Practice Base, Jiangsu Provincial Industrial Enterprise Technology Center and other scientific research platforms.

In addition, the formulation of industry standards has put forward higher requirements in terms of qualification certification. The industry has certain entry barriers. Leading companies represented by Huasheng Lithium, in terms of scale, technology, market, brand and other aspects will own A better development trend will help the industry's industrial concentration. In addition, the company has established a complete management system, which has passed the ISO9001 quality management system, ISO14001 environmental management system, and ISO45001 occupational health and safety management system certification to gradually achieve continuous, stable and rapid development.

Left -hand BYD, right hand Ningde Times

It is worth mentioning that due to the very good prosperity of the lithium battery industry, many large chemical companies have also entered the lithium -sized material industry. In particular, lithium iron phosphate is positive, and a large number of chemical enterprises are cross -border.

So the electrolyte additive industry will face this situation? the answer is negative. This is because the level of electrolyte customization is higher. On the one hand, the electrolyte needs to be matched with the positive electrode materials and negative materials selected by the customer, and it is compatible with the final performance requirements of the customer's lithium battery; Changes constantly adjust their performance and composition to meet the needs of intelligent products. The adaptability and development of lithium battery electrolytes determine that it has a higher degree of customization.

Huasheng lithium battery deep cultivation agent has many years. As early as 2003, it entered the lithium battery electrolyte additive market. The company has always adhered to technological innovation and product upgrades, and its technical strength has been recognized by the industry, forming a comprehensive advantage of integrating R & D, production, sales and management.

Prior to 2015, Huasheng Lithium Electric VC and FEC products were mainly used in 3C products batteries. Since then, benefiting from the rapid development of the new energy vehicle industry, the demand for lithium power batteries has ushered in an outbreak, and the terminal application of the company's products has gradually tilted to new energy vehicles. At present, Huasheng lithium battery has many years of cooperation experience with well -known manufacturers of the international and domestic lithium battery industry chain Mitsubishi Chemistry, BYD, Tianci Materials, Cathay Huarong, Shan Shan, etc., and established a stable cooperative relationship, which can effectively meet customer and market demand. Essence

In particular, Huasheng Lithium Electric and two lithium power giants directly established cooperative relationships. In February 2021, BYD (BYD holding 100%of BYD's shares) of Huasheng Lithium Customer Shenzhen BYD Supply Chain Management Co., Ltd., based on the recognition of the company's future development strategy and development prospects. Company 1.98%of the shares.

At the same time, with the rapid growth of terminal demand such as new energy vehicles since the fourth quarter of 2020, the market demand of electrolyte additives has continued to increase.

In 2019, 2020 and 2021, the sales amount of Huasheng Lithium Power's supply chain company was 10.366 million yuan, 13.438 million yuan and 136 million yuan, respectively, respectively, accounting for 2.45%, 3.02%, and 13.38%of the company's operating income, respectively. The eighth, eighth and third largest customers of the company.

In addition, in order to ensure the stability of the supply volume of VC products, the Ningde Times signed the "Cooperation Agreement" with Huasheng Lithium in August 2021, which will directly purchase VC products from the company in the future. In 2021, the Ningde Times also became the fifth largest customer of Huasheng Lithium Corporation, with sales of 98.833 million yuan, accounting for 9.75%.

According to the above -mentioned long -term agreement, Huasheng lithium battery mainly provides VC to Ningde Times. The agreement period is from August 2021 to December 2025. The agreed supply is 400 tons in 2021, 1120 tons of 2022, and 3360 tons from 2023 to 2025 to 2025 Essence

The company mainly supplies VC and Fec to BYD with the agreement period from September 2021 to December 2025. In terms of VC, Huasheng lithium battery supply 240 tons in 2021, 800 tons in 2022, and 3,120 tons from 2023 to 2025.

FEC supplied 40 tons in 2021, 160 tons in 2022, and 600 tons from 2023 to 2025.

You know, the production capacity of Huasheng Lithium is only 3,000 tons per year in 2021. By 2023, the long -term agreement between the Guangbiadi and Ningde Times agreed that the supply would reach 6,480 tons.

Holding the two major lithium battery faucets long orders, Huasheng lithium battery's future business growth is worry -free. Huasheng Lithium Electric said that the signing of the above cooperation agreement helps to form a situation of close supply and demand linkage, long -term mutual benefit and win -win situation, which will help improve the issuer's sustainable profitability and further consolidate the market position. Developed steadily.

The most important thing is to expand capacity. Among the IPO raised projects, there are 6,000 tons of carbonate (VC) and 3,000 tons of fluoridal carbonate carbonate project (FeC) an annual output of 6,000 tons of carbonate (VC).

Huasheng Lithium Electric stated that after years of development and accumulation, the company has established a good brand image in the industry. However, with the continuous improvement of the lithium battery industry and the increase in market demand, customers' performance of electrolyte additives will be more proposed to be more. High requirements. The construction of this project helps the company to expand its production capacity, seize the market, consolidate and increase market share, and consolidate the company's industry leading position. Text/Ren Hang

Daily Economic News

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