The lithium battery sector of Kechuang board ushered in intensive research in February. According to the statistics of Kechuang board daily, in this month, 12 Kechuang board companies received more than 100 institutions, including 4 companies in the lithium battery sector.
According to the order of reception quantity from most to least, they are Ningbo Ronbay New Energy Technology Co.Ltd(688005) , Farasis Energy (Gan Zhou) Co.Ltd(688567) , Hunan Changyuan Lico Co.Ltd(688779) , Guangdong Lyric Robot Automation Co.Ltd(688499) , of which Ningbo Ronbay New Energy Technology Co.Ltd(688005) , Hunan Changyuan Lico Co.Ltd(688779) are suppliers of lithium cathode materials, and Guizhou Zhenhua E-Chem Inc(688707) which is the same supplier of cathode materials as Kechuang board was also investigated by 29 institutions in February.
From the market point of view, the lithium battery sector has been active recently. Since the Spring Festival, the A-share lithium battery index has risen by more than 8 points. In terms of the targets leading the recent rise, the funds are mainly focused on lithium stocks, and the performance of cathode materials is also strong. Ningbo Ronbay New Energy Technology Co.Ltd(688005) has achieved two consecutive positive results in the week, and Guizhou Zhenhua E-Chem Inc(688707) today hit a record high.
▍ organization is most concerned about: how to reduce the cost of cathode material suppliers
Compared with lithium batteries and lithium battery equipment, the suppliers of lithium battery cathode materials are obviously more interested in institutions, “how to reduce costs” has become the common concern of institutions for such companies.
For lithium battery companies, there are no more than four ways to reduce production costs: improving technology, reducing the use of high priced metals such as cobalt, controlling upstream raw materials and recycling materials. Institutions also tend to ask questions around the above points.
For Ningbo Ronbay New Energy Technology Co.Ltd(688005) , the organization focused on the layout of battery recycling and upstream raw materials. The company said that (power battery) recycling is a very promising market and will focus on tracking and evaluating the layout at home and abroad. At present, the company maintains a high self supply rate of precursors (about 30%). Through the layout of Indonesia nickel resources project, nickel resources is only the beginning of the company’s extension of the supply chain to the upstream. Later, it will increase the proportion of strategic supply of raw materials through strategic cooperation and investment participation.
In addition, Ningbo Ronbay New Energy Technology Co.Ltd(688005) said that it adopts the “back-to-back” pricing mode, and the price of upstream raw materials will be transmitted to the downstream, so the fluctuation of raw material price will not cause significant fluctuation of gross profit margin.
Hunan Changyuan Lico Co.Ltd(688779) was also asked about the proportion of self supply of precursors. The company revealed that it currently has a precursor production capacity of 30000 tons / year, and the self supply proportion of precursors is high. However, with the release of the production capacity of some ternary cathode materials this year, the self supply proportion of precursors will decline relatively.
▍ other lithium battery and lithium battery equipment companies have attracted attention
Farasis Energy (Gan Zhou) Co.Ltd(688567) , Guangdong Lyric Robot Automation Co.Ltd(688499) also broke the threshold in February, with 140 and 110 institutions visiting respectively. The former is the leader of China’s ternary soft pack battery, which is deeply bound to Daimler, and the latter is the first tier of lithium battery equipment. In addition to the production capacity, the institutions have slightly different concerns about the two companies.
Farasis Energy (Gan Zhou) Co.Ltd(688567) was asked about the price adjustment mechanism, raw material guarantee, technology accumulation and other issues. The company said that it would consider the comprehensive settlement cycle, prepayment and other conditions, adopt a determined price for customers with small purchase volume, and some customers adopt a linkage price mechanism. The company also revealed its intention to further layout the upstream, “the layout (in terms of raw material guarantee) of the company includes not only the upstream suppliers, but also the upstream suppliers. At the same time, it will also consider the expansion of production in cooperation with suppliers.” In addition, the company has technical reserves in CTC, CTP and material system iteration, and 800V high-voltage products will be loaded in September 2022.
Guangdong Lyric Robot Automation Co.Ltd(688499) was asked about the future investment plan. The company admitted that according to the current development momentum of China’s lithium battery industry, the new energy industry is still in a period of rapid growth. For the overseas market, the current international new energy wave is developing rapidly, and the sales data of the new energy vehicle market is still significantly higher than expected. Therefore, combined with the situation at home and abroad, the new energy industry will certainly be in a state of steady development in the next five years. Therefore, Guangdong Lyric Robot Automation Co.Ltd(688499) at present, the focus will still be on the field of new energy.
