50000 T / a battery foil project
Feasibility study report
Anhui Zhongyuan New Materials Co.Ltd(603527)
March, 2002
1、 Overview of the investment project
1. Project Name: Battery foil project with an annual output of 50000 tons
2. Project location: Wuhu Economic and Technological Development Zone, Anhui Province
3. Main contents of the project investment: the construction scale of the project is 50000 tons of battery aluminum foil per year. It is planned to be constructed in two phases. The first phase is to build 25000 tons of battery aluminum foil per year.
4. Project implementation subject: the company will take the newly established subject as the investment subject, transfer the land use right of the project land through bidding, auction and listing in Wuhu Economic and Technological Development Zone, Anhui Province, purchase land, build plants and carry out project construction.
5. Project investment amount: the total investment of the project is 70 million yuan.
6. Project construction period: the total construction period is 24 months.
7. Mode of contribution: self raised funds for investment and construction.
2、 Basic information of this investment project
(I) overall planning and construction objectives of the project
The company plans to take the newly established wholly-owned subsidiary as the investment subject, purchase land to build factories in Wuhu Economic and Technological Development Zone, Anhui Province, and build a production line with an annual output of 50000 tons of battery foil.
The construction scale of the project is 50000 tons of battery foil per year. It is planned to be constructed in two phases: 25000 tons of battery foil per year in phase I and 25000 tons of battery foil per year in phase II.
The project will add battery aluminum foil and other products to the company, gradually broaden the company's industrial chain, enrich product types, optimize industrial layout and improve comprehensive competitiveness.
(II) project investment calculation
The total investment of the project is 70 million yuan, including 40 million yuan in fixed assets. The total investment of phase I is 350 million yuan, of which the investment in fixed assets is 200 million yuan.
The fixed asset investment of the project is 400 million yuan, including 65.16 million yuan for construction engineering, 268.61 million yuan for equipment purchase, 9.07 million yuan for installation engineering and 57.76 million yuan for other expenses.
The investment in fixed assets in phase I is 200 million yuan, including 32.41 million yuan for construction engineering, 122.21 million yuan for equipment purchase, 4.19 million yuan for installation engineering and 41.19 million yuan for other expenses.
(III) economic benefit analysis
After the project is completed and put into operation, the following economic benefits can be obtained:
S / n project name unit overall phase I remarks
1. Average operating income of RMB 12421064001 in operation period
2. Pay taxes of RMB 10 Guangzhou Lingnan Group Holdings Company Limited(000524) 7 2616 average during the operation period
3. The total cost is 10000 yuan, 11548759904. The average cost during the operation period
4. Total profit of RMB 10 Casin Real Estate Development Group Co.Ltd(000838) 5 3922 average profit during operation period
After tax profit of RMB 5 Shenzhen Huaqiang Industry Co.Ltd(000062) 89 2942 average profit during operation period
6. Financial internal rate of return of the project after tax% 12.8 12.3
7. Total return on investment% 13.7 13.0
8. Net profit margin of project capital% 15.7 14.7
9. After tax project investment payback period 7.3 7.4 years excluding construction period
(IV) information of the project related to the items submitted for approval
The company is going through the relevant government approval procedures for the project and has not obtained the relevant filing and environmental assessment documents. 3、 Necessity and feasibility of the implementation of this investment project
(I) background and purpose of the investment project
1. The state has issued a number of policies to support the development of the industry
The new energy vehicle industry development plan (20212035) emphasizes the implementation of battery technology breakthroughs. Carry out research on key core technologies such as positive and negative electrode materials, electrolyte, diaphragm and membrane electrode, strengthen the research on short board technology of high-strength, lightweight, high safety, low-cost and long-life power cells and fuel cell systems, and accelerate the research, development and industrialization of solid-state power cell technology.
2. The sales volume of new energy vehicles continues to increase, and the demand for battery aluminum foil continues to increase
The products produced by this investment project not only comply with relevant national industrial policies, but also comply with the development of market demand.
In 2020, the global sales volume of new energy vehicles was 3.331 million, with a year-on-year increase of 50.72%, and the installed capacity of power batteries was 190.5gwh, with a year-on-year increase of 36.95%. According to the data of China Automobile Industry Association, in 2020, the sales volume of new energy vehicles in the Chinese market reached 1367000, with a year-on-year increase of 10.90%. From January to September 2021, the sales volume of new energy vehicles in the Chinese market reached 2156600, which has far exceeded the annual level in 2020. The booming production and sales of new energy vehicles drive the high growth of power battery demand.
Sales volume of Shanxi Guoxin Energy Corporation Limited(600617) vehicles in China (vehicles)
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1,500000
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500000
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20162017 201820192020 January September 2021
Data source: wind, China Automobile Industry Association
Battery aluminum foil is used as the collector of lithium-ion battery. Using this kind of aluminum foil can greatly reduce the contact resistance between positive / negative materials and current collector, and improve the adhesion between them, so as to significantly improve the endurance of pure electric vehicles and hybrid electric vehicles. With the continuous and rapid growth of global new energy vehicle sales and the continuous increase of battery demand, the battery aluminum foil market is broad.
3. Enrich product types, optimize industrial layout and improve comprehensive competitiveness
Based on the existing production capacity, this investment project will add new products such as new energy battery aluminum foil for the company, gradually broaden the company's industrial chain, enrich product types, optimize industrial layout and improve comprehensive competitiveness.
4. Enhance the company's sustainable profitability and maximize the interests of shareholders
This project focuses on the company's main business, conforms to the relevant national industrial policies and the company's overall strategic development direction in the future, and has good market development prospects and expected economic benefits. The implementation of the project will help to enhance the company's sustainable profitability and maximize the interests of shareholders.
(II) necessity of implementation of this investment project
1. Seize the development opportunity of new energy industry and lay a solid foundation for the company to gradually enter the new energy field. The investment project "50000 tons of battery foil per year" is an extension of the company's copper sector, strip and foil products and production process foundation, an expansion and upgrading of the existing industrial chain, and an important strategic choice made by the company in the context of the rapid development of new energy industry. After the project is put into operation, the company will enter the field of battery foil, laying a solid foundation for the company to seize the development opportunity of new energy industry and gradually enter the field of new energy.
2. Most of the company's new energy foil processing processes have been optimized, and the profitability of the company's new products such as aluminum foil and copper foil has been enhanced. Based on the existing production capacity, the investment project will add new products such as new energy battery aluminum foil for the company, which will help to optimize the company's product structure, gradually broaden the company's industrial chain, enrich product types, optimize industrial layout and improve comprehensive competitiveness while meeting the needs of downstream markets.
(III) feasibility of this investment project
1. The state has issued relevant plans and industrial policies to encourage the construction of new energy battery aluminum foil projects
The 13th five year plan for national economic and social development points out to support the development of strategic emerging industries, enhance the supporting role of emerging industries, and support the development and growth of industries in the fields of new generation information technology, new energy vehicles, biotechnology, green and low-carbon, high-end equipment and materials, digital creativity and so on.
The development plan for Nonferrous Metals Industry (20162020) proposes to focus on the development of "aluminum foil, copper foil and porous copper foil with high strength, high ductility and low defects for lithium-ion batteries, oxygen reduction catalyst for fuel cells with high efficiency and low cost core-shell structure, and air electrode materials for metal (aluminum, magnesium, etc.) air batteries."
The development plan for energy saving and new energy vehicle industry (20122020) points out that we should vigorously promote the technological innovation of power battery, focus on the safety and reliability research and lightweight design of power battery system, and accelerate the development of key materials such as positive and negative poles, diaphragms and electrolytes of power battery and their production, control and testing equipment, Develop new supercapacitors and their combined systems with batteries, and promote the standardization and serialization of power batteries and related spare parts and assemblies; Advance the deployment in the major basic and cutting-edge technology fields of power batteries, focus on the research on new materials, new systems, new structures and new processes of high specific energy power batteries, and focus on breaking through a number of key common technologies supporting long-term development.
The new energy vehicle industry development plan (20212035) emphasizes the implementation of battery technology breakthroughs. Carry out research on key core technologies such as positive and negative electrode materials, electrolyte, diaphragm and membrane electrode, strengthen the research on short board technology of high-strength, lightweight, high safety, low-cost and long-life power cells and fuel cell systems, and accelerate the research, development and industrialization of solid-state power cell technology.
The project also meets the requirements of the Guiding Catalogue for industrial structure adjustment (2019 version) and other documents. The above documents point out the direction for the industrial structure optimization and technological upgrading of key basic materials, including aluminum processing.
2. The sales volume of new energy vehicles increased, and the demand for power battery aluminum foil was strong
The global sales of new energy vehicles continue to grow rapidly, and the global demand for lithium batteries has entered the TWH era, with a broad prospect. According to wind statistics, in the first half of 2021, the global sales volume of new energy vehicles was 2.252 million, a year-on-year increase of 151%, the installed capacity of power batteries was about 100.49 GWH, a year-on-year increase of 141%, and the driving power batteries of new energy vehicles increased rapidly China Shipbuilding Industry Group Power Co.Ltd(600482) battery output (MWh)
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eighty thousand
sixty thousand
forty thousand
twenty thousand
zero
20192020 January September 2021
Data source: wind
As the main technical route of electrochemical energy storage, lithium-ion energy storage battery has the characteristics of high energy density, high comprehensive efficiency, great potential for cost reduction, short construction cycle and wide applicability, and the installed scale continues to increase. It is estimated that the global lithium battery shipment will reach 1135.4gwh in 2025, including 873.6gwh of power battery. Assuming that 400 tons of aluminum foil are required per GWH, the demand for power aluminum foil will reach 349400 tons in 2025; Based on the demand of 1gwh600 tons of aluminum foil, the demand for aluminum foil of power battery will reach 524200 tons. Benefiting from the rapid development of global new energy vehicles, the power battery will enter a rapid growth period, and the demand for aluminum foil of power battery is strong.
The demand for battery aluminum foil is driven by power battery, 3C battery and energy storage battery, and the market prospect is broad. To sum up, the company's new project with an annual output of 50000 tons of battery foil is feasible.
4、 Project risk
During the construction and operation of the project, there are mainly the following risks:
(I) macroeconomic and environmental risks
As the basic industry of industrial development, non-ferrous metal processing industry is affected by the macroeconomic environment and the fluctuation of downstream industries. There is a risk that the performance of the project will be affected by the macroeconomic environment.
(II) price fluctuation risk of raw materials
The main raw materials required for the production of the project are aluminum sectors and strips. With the change of supply-demand relationship in the global market, the price of raw materials also fluctuates. The fluctuation of raw material price will affect the production cost of the company, increase the operation risk of the company and have a significant impact on the production and business performance of the company.
(III) project policy and approval process risk
The energy consumption index, land and environmental impact assessment required for the construction of this investment project have not been finally approved, and there is great uncertainty whether they can be successfully approved. If the approval is not passed, there is a risk that the project cannot be started or the commencement time is uncertain, resulting in project delay, change or termination.
(IV) project construction risk
The investment project is implemented by stages and the construction period is long. The investment amount and construction period of the project are planned or estimated. After completion, many factors such as production line reaching production and market development are uncertain. The relevant data do not represent the company's prediction of future performance or constitute a performance commitment to shareholders. Whether and when the later project will be implemented will be determined according to the economic environment, industrial policies, changes in market demand, operation and management and other factors. There is uncertainty whether the later project can be carried out smoothly.
(V) market risk
The investment project is affected by the macroeconomic environment, industry cycle, market changes and other uncertain factors, which may face the risk that the investment benefit of the project does not meet the expectation.
(VI) talent and technology risks
The project will add battery aluminum foil and other products, gradually broaden the company's industrial chain, enrich product types, optimize industrial layout and improve comprehensive competitiveness.
