On March 31, Keda Industrial Group Co.Ltd(600499) ( Keda Industrial Group Co.Ltd(600499) ) disclosed the annual report of 2021. The company achieved a revenue of 9.797 billion yuan in 2021, with a year-on-year increase of 34.24%; The net profit attributable to the parent company was 1.006 billion yuan, and the net profit attributable to the parent company after deduction was 952 million yuan, with a year-on-year increase of 284.60% and 940534% respectively, mainly due to the synergistic rise of the profits from the main business and war investment business (Lanke lithium contributed more than 400 million); The basic earnings per share is 0.534 yuan. The company plans to distribute cash of 1.8 yuan (including tax) to all shareholders for every 10 shares, with a total cash dividend of 340 million yuan, accounting for 34% of the net profit attributable to the parent company in the current period.
At the same time as the disclosure of the annual report, Keda Industrial Group Co.Ltd(600499) also issued a fixed increase plan. The company plans to raise no more than 2.079 billion yuan to invest in building materials and lithium equipment intelligent manufacturing base project, large-scale high-end intelligent equipment manufacturing digital factory project, global building materials machinery advanced manufacturing center technological transformation project and supplementary working capital respectively.
Africa building materials business bucked the trend
Building materials machinery and equipment is the main business of Keda Industrial Group Co.Ltd(600499) with an operating revenue of 5.764 billion yuan in 2021, a year-on-year increase of 57.17%. The main reason for the growth is that affected by the demand of the downstream market, all business units of ceramic machinery business produced at full capacity, and the product sales revenue increased significantly.
According to the data, in 2021, Kodak’s production and sales of press, polishing machine and kiln products increased by more than 80%, 66% and 30% respectively year-on-year. All business units of ceramic machine business produced at full capacity, and the order receiving and delivery of overseas ceramic machine business exceeded that of the same period last year. The market performance of India, Africa and Turkey maintained an increase over the same period last year.
In addition, the annual report shows that in 2021, Keda Industrial Group Co.Ltd(600499) of Africa’s localization business ushered in development opportunities Keda Industrial Group Co.Ltd(600499) previously entered the African market in 2016, and several new production lines have been added in recent years.
According to the company, most of the necessities of life in the African market need to be imported. However, in terms of the external environment last year, Africa faced international black swan events such as the blockage of the Suez Canal and the Shenzhen Yan Tian Port Holdings Co.Ltd(000088) shutdown for one month. Superimposed on the upgrading of epidemic prevention policies of various countries at that time, the ceramic tiles exported to Africa were blocked, some African ceramic factories stopped production, the overall demand continued to increase, and the relationship between supply and demand was mismatched, There is a vacuum in some markets.
By the end of 2021, Keda Industrial Group Co.Ltd(600499) ‘s African building materials business has taken root in Kenya, Ghana, Tanzania, Senegal and Zambia, with 12 production lines in total in five countries, and the total output of building ceramics has reached 91 million square meters, radiating sub Saharan Africa. In terms of performance, Kodak’s operating revenue of African building materials business in 2021 reached 2.345 billion yuan, a year-on-year increase of 31.05%; The net profit reached 819 million yuan, a year-on-year increase of 100.21%; The gross profit margin was 45.37%, an increase of 6.94 percentage points over the same period last year.
At present, Keda Industrial Group Co.Ltd(600499) has started the investment and construction of Keda Ghana phase IV, Cameroon and C ô te d’Ivoire projects. The product category is planned to be transformed from ceramic tiles to building materials as a whole. During the year, the company has carried out the research on building ceramics projects in South America. The company expects that the scale of building ceramics business will continue to grow.
joint stock company Lanke lithium increased both in volume and price
In addition to the ceramic machinery and building materials business segment, Keda Industrial Group Co.Ltd(600499) ‘s lithium battery materials business is also a key topic of concern in the capital market. In 2017, Keda Industrial Group Co.Ltd(600499) integrated the minority equity of Lanke lithium industry, strategically arranged lithium extraction in Qinghai Salt Lake, indirectly held 43.58% equity of Lanke lithium industry, and became its second largest shareholder.
At present, Lanke lithium has a capacity of 30000 tons / year of lithium carbonate and is one of the powerful players in the field of lithium extraction from salt lakes in China. Under the condition of tight supply of lithium carbonate in 2021, Lanke lithium achieved a revenue of 1.853 billion yuan and a net profit of 914 million yuan, Keda Industrial Group Co.Ltd(600499) which confirmed an investment income of 444 million yuan, marking that the strategic investment business has officially entered the harvest period.
Under the background of the continuous improvement of the penetration rate of global new energy vehicles, the demand gap of lithium battery materials will become more and more obvious, and there is an urgent need to fill the capacity. Therefore, Keda Industrial Group Co.Ltd(600499) the overall layout of lithium battery materials has formed an integrated industrial chain of “forged coke graphitization artificial graphite silicon carbon negative electrode”. This part of the business belongs to the self operated business of the company. Due to the mature sales network and stable customer relationship previously established in the field of lithium battery, the recognition of relevant products is high. It achieved positive income and achieved sound development in 2021.
In addition, Keda Industrial Group Co.Ltd(600499) will continue to seek capacity expansion with its subsidiaries Kehua graphite and Anhui new materials as the main business entities. According to the latest information, Fujian Kehua, a subsidiary of the company, has obtained the approval of the energy-saving report of 50000 T / a graphitized negative electrode materials in December 2021, and the subsequent growth space will be further opened.
fixed growth to improve the position of industrial chain
Keda Industrial Group Co.Ltd(600499) according to the fixed increase plan disclosed on the same day, the total investment of the building materials and lithium battery equipment intelligent manufacturing base project ranked first is 1.625 billion yuan, which is implemented by Foshan Keda Equipment Manufacturing Co., Ltd., a wholly-owned subsidiary of Keda. It will take 36 months to build a production line with 1.6145 million adult building materials equipment parts and 85 lithium material roller kilns. The core products include building materials equipment parts and complete machines Lithium material roller kiln and supporting utilities and other facilities.
Keda Industrial Group Co.Ltd(600499) pointed out that the company is the only enterprise in China with the supply capacity of building ceramic equipment for the whole plant and the whole line. The company plans to extend to equipment manufacturing in other industries based on its dominant main business. The metal heating kiln developed and produced by the company has been successfully applied to well-known brands in Aishida Co.Ltd(002403) , Zhejiang Supor Co.Ltd(002032) , Sanhe and other industries. Through this fixed increase project, the company plans to apply the kiln equipment to the lithium battery material industry. At the same time, the lithium battery materials business segment is one of the three business segments of Kodak, which can form a strategic synergy with it and improve the position of the enterprise in the industrial chain.
In the large-scale high-end intelligent equipment manufacturing digital factory project, henglitai, the implementation subject of the project, has successively sold more than 50 series extruders, became a supplier of Jianmei aluminum and other well-known enterprises, and successfully exported to the European market. The fixed increase project will invest 800 million yuan to build a production line with an annual output of 300 sets of large-scale high-end intelligent equipment products. The core products are high-end medium and large-scale aluminum profile extruders and complete sets of intelligent production equipment of ceramic raw materials. It will further provide customers with cost-effective production solutions for building ceramic bricks and building aluminum materials, and block the 10 billion Chinese aluminum profile extruder market.
Under the premise of increasing the investment and raising of the original equipment, it means that the main line of the company’s investment and raising can be extended to the general purpose, that is, on the premise of ensuring the overall development of the original equipment. After the completion of the project, the company’s whole line product supply capacity and cross domain application capacity of core products will be greatly improved.
