Securities code: Ningbo Ronbay New Energy Technology Co.Ltd(688005) securities abbreviation: Ningbo Ronbay New Energy Technology Co.Ltd(688005) Announcement No.: 2022005 Ningbo Ronbay New Energy Technology Co.Ltd(688005)
Voluntary disclosure announcement on the holding of investor exchange telephone conference
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear legal responsibility for the authenticity, accuracy and integrity of its contents according to law. 1、 Background note on holding investor exchange telephone conference
Recently, Ningbo Ronbay New Energy Technology Co.Ltd(688005) (hereinafter referred to as “the company” and ” Ningbo Ronbay New Energy Technology Co.Ltd(688005) “) learned through telephone, interactive platform and other channels that some investors have doubts about whether the rise in nickel price on the London Metal Exchange (LME) has an impact on the company’s operation and other related matters. In order to avoid misleading investors, The company held a teleconference on relevant issues concerned by investors, and the management representatives of the company attended the meeting and made relevant explanations. 2、 The core content of this investor exchange telephone conference
(I) the rapid rise of nickel futures price is a short-term phenomenon, which has no significant impact on the industry and the company. With the rapid development of new energy vehicle industry, high nickel batteries have very good growth prospects. The demand for metal nickel has increased significantly, and the supply of metal nickel has increased rapidly accordingly. With the rapid development of nickel resources in Indonesia, it is expected that the supply and demand of nickel resources will be basically balanced this year, and the price of medium and long-term metal nickel will gradually decline. The fluctuation of nickel price is caused by short-term and temporary factors.
(II) the production and operation of the company are normal; The company does not participate in nickel futures trading.
The company’s raw material supply is normal, and the raw material inventory cycle is maintained within a reasonable range. The rise of metal nickel price will not affect the profitability of the company in the short term. In the long run, the supply of nickel metal is sufficient, and the short-term nickel price fluctuation will not affect the long-term development of the industry, nor the operation and development of the company.
The company does not participate in nickel futures trading. At present, due to panic and speculation in the futures market, nickel prices have risen rapidly in the short term. In the long run, from the perspective of nickel supply and demand balance, the current high price state is unsustainable.
(III) the supply and demand structure of nickel resource market has not changed, and the price will return to a reasonable range in the long run. The supply and demand fundamentals of nickel resources are not affected by the rapid rise of nickel futures prices, and the supply and demand structure has not changed significantly. The development prospect of power battery is broad. Indonesia’s hydrometallurgy technology and high nickel matte technology have been successful. Many Chinese foreign manufacturers have begun to layout nickel metal in Indonesia. In the long run, nickel resources are the supply-demand structure of oversupply, and the price will return to a reasonable period. During this period, high nickel cathode materials still have high growth space. Affected by the futures market, the sharp rise of nickel price is a very short-term behavior.
(IV) based on the pricing formula, the nickel price increase has no significant impact on the company’s net profit per ton.
The company purchases precursors from suppliers and sells cathode materials to customers are priced by formula. Relevant parties in the industry will jointly abide by the pricing rules. The rise of upstream price can be transmitted to the downstream without affecting the company’s single ton profit level. This pricing method can avoid the risk caused by the fluctuation of raw material price.
(V) the company has a layout in terms of nickel resources to improve the stability of supply guarantee.
The company has successively signed strategic cooperation agreements with Zhejiang Huayou Cobalt Co.Ltd(603799) (hereinafter referred to as ” Zhejiang Huayou Cobalt Co.Ltd(603799) “) and Gem Co.Ltd(002340) (hereinafter referred to as ” Gem Co.Ltd(002340) “).
According to the relevant announcement: under the condition that Zhejiang Huayou Cobalt Co.Ltd(603799) provides the company with the pricing method of metal raw materials with competitive advantages and the processing fee of precursors, both parties expect the procurement volume of precursors to reach 415000 tons. The strategic cooperation between the company and Gem Co.Ltd(002340) includes: Gem Co.Ltd(002340) affiliated companies will transfer their positions in Pt 8% of the shares of QMB new energy materials (hereinafter referred to as “Indonesia qingmeibang”) to Ningbo Ronbay New Energy Technology Co.Ltd(688005) ; The company plans to invest 18% of the equity or shares of Wuhan power battery regeneration technology Co., Ltd. (hereinafter referred to as “power regeneration”), which is engaged in power battery recycling, disassembly and utilization, echelon utilization and powder sorting business held by Gem Co.Ltd(002340) holding by Gem Co.Ltd(002340) (hereinafter referred to as “power regeneration”), and a director of the board of directors of power regeneration shall be appointed by Ningbo Ronbay New Energy Technology Co.Ltd(688005) nominee; No less than 26% of the materials and products produced by power regeneration (calculated by the proportion of metal quality in the final product) shall be supplied at the fair price Ningbo Ronbay New Energy Technology Co.Ltd(688005) . At the same time, the company is negotiating with other partners to carry out similar supply cooperation schemes and improve the stability of raw material supply by strengthening capital ties.
(VI) there is no problem in the current lithium raw material supply of the company.
At present, the company has no problems in lithium supply. There is a shortage of lithium resources in the market. As a leading enterprise in the field of cathode materials, the company has the advantage of giving priority to ensuring supply. The rise of lithium price can be transmitted to the downstream according to the formula pricing method, and has no impact on the company’s profit in the short term. In the long run, the price of lithium carbonate has increased significantly. Some new energy vehicle and power battery manufacturers have switched some iron lithium routes to high nickel routes. The excessively high price of lithium resources will promote the development of lithium resources and the decline of lithium resource prices, and accelerate the development of new routes such as sodium ion batteries, Sodium ion batteries have a certain market space in the field of energy storage and low-end power batteries.
It is hereby announced.
Ningbo Ronbay New Energy Technology Co.Ltd(688005) board of directors March 9, 2022
