On February 20, Hunan Zhongke Electric Co.Ltd(300035) (300035) announced that the company and Contemporary Amperex Technology Co.Limited(300750) (300750) signed the capital increase agreement on Zhongke Xingcheng graphite Co., Ltd. in Gui’an new district, The holding subsidiary of the company, Gui’an New Area Zhongke Xingcheng graphite Co., Ltd. (hereinafter referred to as “Gui’an New Area Zhongke Xingcheng” or “implementation target”) plans to invest in the “integration project of anode materials for lithium batteries with an annual output of 100000 tons”.
Contemporary Amperex Technology Co.Limited(300750) accounts for 35% of the shares of the implementation target
Specifically, first of all, zhongkexingcheng holdings will increase the capital of zhongkexingcheng in Gui’an New Area by 420 million yuan, Contemporary Amperex Technology Co.Limited(300750) or its wholly-owned subsidiary will increase the capital of zhongkexingcheng in Gui’an New Area by 280 million yuan. After this capital increase, the registered capital of zhongkexingcheng in Gui’an new area will increase from 100 million yuan to 800 million yuan, Zhongke Star City in Gui’an new area will be controlled by Zhongke Star City and Contemporary Amperex Technology Co.Limited(300750) or its wholly-owned subsidiaries, holding 65% and 35% respectively.
On the basis of this capital increase, zhongkexing city of Gui’an new area will invest in the construction of the “integration project of lithium battery cathode materials with an annual output of 100000 tons”. The project is divided into two phases. The first phase plans to build a capacity of 65000 tons and the second phase plans to build a capacity of 35000 tons. After both parties jointly invest in zhongkexing city in Gui’an new area and the company’s negative pole expansion project is completed and put into operation, Contemporary Amperex Technology Co.Limited(300750) has the priority right to purchase the capacity of these negative pole expansion projects, that is, to give priority to ensuring the supply of graphitized negative pole products of Contemporary Amperex Technology Co.Limited(300750) .
Meanwhile, the board of directors of zhongkexingcheng in Gui’an New Area shall be composed of three directors, of which Contemporary Amperex Technology Co.Limited(300750) has the right to appoint one director, zhongkexingcheng holding has the right to appoint two directors, and the chairman shall be a director appointed by zhongkexingcheng holding.
Hunan Zhongke Electric Co.Ltd(300035) said that the capital increase and share expansion of the company’s subsidiary zhongkexingcheng graphite Co., Ltd. in Gui’an new area and the cooperation with Contemporary Amperex Technology Co.Limited(300750) will help the company deepen its cooperation with downstream manufacturers in the field of lithium batteries, integrate the advantageous resources of both sides and achieve win-win cooperation; At the same time, it can also provide financial support for the company’s lithium battery cathode business expansion, accelerate capacity expansion, ensure the company’s capacity utilization, help the company adapt to the market competition and rapid development of new energy lithium-ion battery industry, and comply with the company’s development strategy and long-term plan.
actively layout the negative electrode material business
The reporter of securities times · e company noted that the cooperation between Hunan Zhongke Electric Co.Ltd(300035) and Contemporary Amperex Technology Co.Limited(300750) has long existed. Hunan Zhongke Electric Co.Ltd(300035) said in a survey of institutional investors held on February 9 this year that the company has maintained long-term good cooperative relations with well-known enterprises in the industry and at home and abroad, such as Byd Company Limited(002594) , Contemporary Amperex Technology Co.Limited(300750) , AVIC lithium battery, Eve Energy Co.Ltd(300014) , Ruipu energy, Korean ski and ATL. In the future, in addition to continuing to deepen cooperation with existing major customers, the company will actively expand high-quality new customers in the industry. In addition, as an important market that the company strives to explore, the overseas market is expanding as planned.
With regard to the negative electrode material business generally concerned by the outside world, Hunan Zhongke Electric Co.Ltd(300035) pointed out that at present, the shipment of the company’s negative electrode material products is mainly concentrated in the power lithium battery negative electrode materials (the application direction is the large power of new energy vehicles and the small power of electric motorcycles and electric bicycles). In the future, with the continuous enrichment of the company’s lithium battery negative electrode product structure and the continuous increase of production scale, It has great expansion space and development potential in the market of energy storage and consumer lithium battery cathode materials.
For the prediction of the price trend of negative electrode materials in 2022, Hunan Zhongke Electric Co.Ltd(300035) said that the market outsourcing graphitization processing price and the purchase price of raw material needle coke have increased to a certain extent since 2021. It is expected that the tight supply and demand of outsourcing graphitization processing in 2022 will continue. Therefore, the cost pressure of the negative electrode material industry will still be large. In this regard, the company will actively cooperate and interact with upstream and downstream according to the changes of production cost factors such as raw materials, so as to jointly maintain the sustainable and healthy development of the industrial chain.
It is worth mentioning that in January this year, Hunan Zhongke Electric Co.Ltd(300035) also announced that the company plans to invest 60 million yuan to Anhui Haida new materials Co., Ltd. through its holding subsidiary, hold 60% of its equity, and sign an investment cooperation agreement with Haida new materials and Wangjiang economic development zone, Haida new materials plans to invest 510 million yuan to build the “100000 ton / year negative electrode material powder production base project” in Wangjiang Economic Development Zone to build the company’s negative electrode material raw material supply and production and processing base.
For this investment layout, Hunan Zhongke Electric Co.Ltd(300035) said in the survey that the project investment is an important part of the upstream raw material layout of the company’s lithium battery negative electrode business industrial chain. Through the implementation of the investment project, it can be built into the company’s negative electrode material raw material supply and production and processing base with the help of Anqing Petrochemical industry foundation and sufficient high-quality petroleum coke supply, It is of great significance to ensure the supply of raw materials and enhance the comprehensive competitiveness of the company.
negative material boost deduction non performance pre increase of 110% – 140%
Recently, Hunan Zhongke Electric Co.Ltd(300035) also disclosed the performance forecast for 2021. Benefiting from the impact of the rising prosperity of the company’s downstream industry and the growth of demand, the company’s business developed rapidly. The output and sales of lithium battery cathode materials in 2021 increased significantly year-on-year. It is estimated that the net profit after deducting non recurring profits and losses attributable to the shareholders of Listed Companies in 2021 is expected to range from 344 million yuan to 393 million yuan, A year-on-year increase of 110% – 140%.
According to the industry development and customer demand, Hunan Zhongke Electric Co.Ltd(300035) is still actively expanding production capacity. According to the new capacity construction plan or investment projects reviewed by the company, the company plans to expand the capacity of cathode materials in Guizhou, Hunan, Yunnan and other places.
Hunan Zhongke Electric Co.Ltd(300035) said during the investigation that the company’s relevant new investment and construction projects are progressing smoothly as planned. After all construction is completed, the company’s negative material production capacity will have a scale of 340000-350000 tons / year, and the negative material graphitization processing capacity will have a scale of 295000 tons / year (including 30000 tons / year of energy gathering new material graphitization processing capacity of the joint-stock subsidiary). Subsequently, the company will carry out scientific capacity planning closely around the needs of customers and the rapid development of the industry.
