Shenzhen Xfh Technology Co.Ltd(300890)
Annual report for 2021
202205
March 2022
Section I important tips, contents and definitions
The board of directors, the board of supervisors and the directors, supervisors and senior managers of the company guarantee that the contents of the annual report are true, accurate and complete without false records, misleading statements or major omissions, and bear individual and joint legal liabilities.
Zhou Pengwei, the person in charge of the company, ye Wenguo, the person in charge of accounting, and Chen Yingfu, the person in charge of the accounting organization (Accounting Supervisor), declare that they guarantee the authenticity, accuracy and completeness of the financial report in this annual report.
All directors have attended the meeting of the board of directors to consider this report.
In view of the current macro environment and the current situation of the company’s industry, investors are reminded to pay attention to the following risks: 1. The risk of raw material price fluctuation
The company’s operating income mainly comes from the sales of graphite cathode materials. The raw materials required for product production mainly include primary graphite, petroleum coke, needle coke and other coke raw materials. The price of coke raw materials has increased to a certain extent since 2021. With the rising prosperity of downstream industries, the supply price of raw materials will fluctuate to varying degrees under the influence of market supply and demand. In the future, if the price of raw materials fluctuates violently in a short time, and the company cannot effectively transfer the pressure of rising raw material prices to the downstream or offset the pressure of rising costs through technological innovation, it will have an adverse impact on the profitability of the company.
In view of the above risks, the company will continue to track and monitor the price trend of raw materials, select an appropriate time to purchase raw materials and prepare goods reasonably according to the needs of the company; The company will continue to improve the management level and the technological innovation level of the company, so as to improve the utilization efficiency of raw materials; At the same time, the company is also actively strengthening strategic cooperation with suppliers to avoid the impact of rising raw materials on profits.
2. Outsourcing risk
In the production process of graphite negative electrode materials, graphitization, carbonization and other processes are outsourced. The graphite chemical process in the production process of the company’s artificial graphite negative electrode material is outsourced, and the graphitization processing fee accounts for a high proportion of the cost of artificial graphite products. Although the entrusted processing enterprise processes according to the process and technical parameters provided by the company, and the product quality is guaranteed, the graphitization processing fee has an important impact on the profitability of the company’s artificial graphite products. At present, the company’s existing graphitization capacity still can not meet its own processing needs. Therefore, in the short term, the company’s graphitization processing needs still need to be solved by outsourcing processing. This process has a great impact on the production cost and product quality control. If the continuous and rapid increase of industry capacity in the future leads to the increase of demand for graphitization outsourcing processing in the whole industry, resulting in the increase of outsourcing processing cost of the company, it will have an adverse impact on the profitability of the company.
In view of the above risks, the self built graphitization project of Shenzhen Xfh Technology Co.Ltd(300890) in Fujian is expected to reach production within this year, and the construction of Shenzhen Xfh Technology Co.Ltd(300890) in Sichuan is also actively promoted; In addition, through years of cooperation with graphitization manufacturers, the company has reserved stable graphitization suppliers.
3. Risk of decline in gross profit margin
With the entry of new industry competitors into the industry, the market competition will become more and more fierce. On the one hand, the pressure of downstream customers for price reduction will further increase. On the other hand, the prices of raw materials such as petroleum coke and needle coke and primary graphite will rise periodically. If the company cannot continuously improve its technological innovation ability and develop new products with more competitiveness and cost performance, Then the company has the risk of decline in gross profit margin.
In view of the above risks, the company takes the following measures to stabilize the gross profit margin of products: (1) strengthen the development of customers with good reputation and stable profits, and increase the sales of high value-added products; (2) Continuously develop new products with high added value in combination with customer needs; (3) Scientifically formulate procurement strategies, broaden the company’s procurement channels of raw materials outside China, and continuously reduce the procurement cost of raw materials; (4) Continuously improve product technology and process, give full play to the company’s integrated processing advantages and reduce product manufacturing costs.
The company plans not to distribute cash dividends, bonus shares or increase share capital with provident fund.
catalogue
Section I important tips, contents and definitions Section 2 company profile and main financial indicators Section III Management Discussion and Analysis Section IV corporate governance Section V environmental and social responsibility 54 section VI important matters 58 Section VII changes in shares and shareholders 75 Section VIII preferred shares Section 9 relevant information of bonds 83 section x financial report eighty-four
Directory of documents for future reference
1、 Financial statements containing the signatures and seals of the legal representative, the person in charge of accounting and the person in charge of accounting institutions. 2、 The original of the audit report with the seal of the accounting firm and the signature and seal of the certified public accountant. 3、 The originals of all company documents and announcements publicly disclosed on the website designated by the CSRC during the reporting period. The originals of the above documents are available in Shenzhen Xfh Technology Co.Ltd(300890) .
interpretation
Explanatory item refers to the explanatory content
The company, the company, the joint stock company, Shenzhen Xfh Technology Co.Ltd(300890) refers to Shenzhen Xfh Technology Co.Ltd(300890)
Parent company refers to Shenzhen Xfh Technology Co.Ltd(300890)
Fujian Shenzhen Xfh Technology Co.Ltd(300890) refers to Fujian Shenzhen Xfh Technology Co.Ltd(300890) new energy materials Co., Ltd
Sichuan Shenzhen Xfh Technology Co.Ltd(300890) refers to Sichuan Shenzhen Xfh Technology Co.Ltd(300890) new energy materials Co., Ltd
LG new energy refers to LG energy solution Ltd. and aierji new energy (Nanjing) Co., Ltd
Byd Company Limited(002594) refers to Byd Company Limited(002594) and its subsidiaries.
Samsung SDI refers to Samsung SDI Co., Ltd. and Samsung SDI (Hong Kong) Limited
Catl / Contemporary Amperex Technology Co.Limited(300750) refers to Contemporary Amperex Technology Co.Limited(300750)
It is a new type of battery that can be charged, discharged and recycled for many times, and takes lithium ion embedded compounds as positive and negative lithium ion batteries, lithium batteries or lithium battery finger materials.
Common lithium batteries use lithium containing metal oxide and carbon materials as positive and negative materials respectively. Lithium battery has the characteristics of high energy density, long cycle life, small self discharge, no memory effect and friendly environment.
The materials included in the lithium-ion battery are mainly composed of positive electrode, negative electrode, electrolyte, diaphragm, material for positive lithium-ion battery, finger lead, negative lead, central terminal, insulating material, safety valve, PTC (positive temperature control terminal), battery shell, etc
Power battery refers to the chemical power supply that provides electric energy for electric tools, electric bicycles, electric vehicles and other devices. Common power batteries include lead-acid batteries, nickel metal hydride batteries, lithium-ion batteries, etc
Lithium ion battery used under the condition of high voltage and large current after series and parallel connection. Lithium ion power battery is a new type of high-energy battery with the characteristics of high energy, high battery voltage, wide working temperature range and long storage life. It is widely used in the fields of electric tools, electric bicycles and electric vehicles
The negative electrode material of lithium-ion battery refers to the energy storage material used on the negative electrode of lithium-ion battery
Primary graphite refers to natural graphite ball, natural flake spheroidized graphite and spherical graphite
Petroleum coke refers to the black solid coke produced by cracking and coking the vacuum residue of petroleum at 500 ~ 550 ℃ through the coking unit
Coke raw materials refer to a series of coke products including petroleum coke, needle coke, forged coke, coal coke and so on
Natural graphite refers to a negative electrode material made of natural flake spheroidized graphite through crushing, spheroidization, modification, carbonization and other processes
Artificial graphite refers to a negative electrode material made of petroleum coke, needle coke and other materials calcined at a certain temperature, crushed, graded and graphitized at high temperature
Composite graphite refers to the material obtained by doping more than two kinds of negative electrode materials, and at least one of the negative electrode materials is graphite material (natural graphite or artificial graphite)
Graphitization refers to the orderly transformation of thermodynamically unstable carbon atoms from disordered layer structure to graphite crystal structure by thermal activation
Battery capacity refers to the amount of electricity discharged by the battery under certain conditions (discharge rate, temperature, termination voltage, etc.), usually in ampere o hours
Specific capacity refers to the capacity of active substance per unit mass during half cell detection, in MAH / g
Vibrated density refers to the mass per unit volume measured under the condition that the powder presents a relatively close accumulation form by vibration, and the unit is g / cm3
The density of the negative electrode active material and binder after rolling. The compaction density refers to = surface density / (the thickness of the electrode after rolling minus the thickness of copper foil), unit: g / cm3. Area density: the mass of active substance on the current collector (copper foil) per unit area
The first efficiency refers to the ratio of lithium removal capacity of active material to lithium intercalation capacity during half cell detection, with the unit of%
Energy density refers to the specific energy per unit mass or unit volume. The specific energy is the product of specific capacity and voltage
The surface area of a unit mass object. The smaller the particle, the larger the specific surface area. Small particles, specific surface area (and particle size) refer to the negative electrode with high specific surface area. The lithium ion migration channels are more and the paths are shorter, and the magnification performance is better
