Securities code: Ningbo Ronbay New Energy Technology Co.Ltd(688005) securities abbreviation: Ningbo Ronbay New Energy Technology Co.Ltd(688005) No.: 2022004
Ningbo Ronbay New Energy Technology Co.Ltd(688005)
Record of investor relations activities
□ specific object research □ analyst meeting
Investor relations □ media interview □ performance briefing
Activity category □ press conference □ Roadshow
□ site visit □ one-to-one communication
□ brokerage strategy meeting ■ telephone exchange meeting with other investors
Participating units and
There are 545 institutions with personnel. See the annex for details
Time: March 30, 2022
Location telephone meeting
Director Zhang Yuan; Yao Junfei, assistant to the president and general manager of investment and financing division; She Shengxian, assistant president of the business department; Zhang Tianguang, assistant to the president and general manager of Engineering Division; Financial Director Tian Qianli; Ge Xin, Secretary of the board of directors.
1、 Strategic layout of "new integration"
Since the formulation of the "new integration" strategy in 2021, the company has successively announced the strategic cooperation with Zhejiang Huayou Cobalt Co.Ltd(603799) , Gem Co.Ltd(002340) to deepen the strategic cooperation relationship with the upstream and maintain the stable supply of raw materials in the upstream. At the same time, it signed supply agreements with downstream battery manufacturers such as Ningde times and Farasis Energy (Gan Zhou) Co.Ltd(688567) to ensure future orders.
Key points: in 2022, the "new integration" strategy will be further implemented in Hubei. This is a comprehensive layout. Combined with the lake, it illustrates the regional advantages of North Wuhan, Ezhou, Xiantao and other regions, and fully matches the development needs. The "new integration" strategy is gradually forming a complete industrial and financial system, which will produce synergy at the levels of capital, supply chain, business, R & D and so on.
First of all, in terms of capital utilization rate, the biggest feature of the "new integration" strategy is the combination of industry and finance. At present, we gradually cooperate with local governments in production capacity funds and equity funds, give full play to the investment capacity of rongbai industry, and use the advantages of the system to optimize the capital utilization rate.
Secondly, in the supply chain, we will obtain some equity of upstream resources through equity participation and get better supply rights. Business collaboration and equity binding will bring closer cooperation and make our supply chain construction more stable and competitive.
Third, at the business level, according to the agreements we signed with downstream customers, we can provide us with longer-term and more efficient orders in the future.
Fourth, at the level of product R & D, especially the development of some cutting-edge battery materials, they will form close interaction with customers through strategic agreements to ensure that the matching degree of R & D efficiency of both sides is the highest. In addition to cooperating with upstream and downstream enterprises, we will also establish a new energy technology research institute in Hanyang District, Wuhan, strengthen the construction of R & D system, research and develop not only cathode materials, but also other materials, and make full use of the advantages of colleges and universities and talent accumulation in Wuhan. At present, we expect that the competition of the whole industrial chain is still in the competition of products and technology, but the next stage is systematic competition.
Finally, at the level of environmental friendliness, the new base will adopt green power supply, such as Xiantao base, which mainly relies on the local fishing light complementary photovoltaic supporting power. At the same time, all bases give full play to the advantages of scale. With the continuous iteration of equipment and production lines and the appearance of scale effect, the energy consumption per ton will also be reduced. It can meet the relevant requirements of ESG, especially the requirements of European customers for carbon emission reduction.
The "new integration" strategy hopes that through a relatively open system, we can concentrate resources on the links we are best at to become the first in the world. At the same time, we can choose the best team cooperation in the business link to develop the links related to them and form a strong alliance. 2、 Overview and purpose of non-public offering
The total amount of this issuance is expected to be no more than 6.068 billion. The raised investment projects involved mainly focus on the expansion of the existing main business. Most of the funds are invested in Xiantao base, Zunyi base and South Korea base, mainly in the production expansion of cathode materials, and other funds are invested in early-stage precursor projects, engineering equipment projects and supplementary liquidity funds. The purpose of the issuance is not only to meet the rapidly growing market demand in the downstream and consolidate the company's leading position in the industry, but also to focus on the main business and improve the competitiveness of the industrial chain. This fund-raising is an important process of the "new integration" strategy. The subsequent company will gradually implement the relevant plans of the "new integration strategy" and promote the implementation of more projects. 3、 Annual report performance in 2021
1. Achieve rapid growth in performance
In 2021, the net profit attributable to the owners of the parent company was 9110413 million yuan, a year-on-year increase of 327.59% compared with the same period of last year (legally disclosed data). In 2021, the net profit attributable to the owner of the parent company after deducting non recurring profits and losses was 808246600 yuan, an increase of 404.73% year-on-year compared with the same period of last year (statutory disclosure data).
2. Reasons for performance growth
(1) The penetration rate of high nickel technology route in the terminal of new energy vehicles was further improved. Driven by the high demand of downstream customers, the company accelerated the release of new production capacity, doubled its annual sales year-on-year, and continued to maintain a leading position in China's ternary cathode material market.
(2) The profitability of the company's products continued to improve, and the product structure was gradually optimized. The shipment volume of high nickel polycrystalline products kept leading in the market, and the proportion of single crystal high energy density products and ultra-high nickel products above 9 series increased. (3) The company's precursor sector has made remarkable progress in customer development, product research and development, engineering construction and so on. The proportion of self supply of precursors increased year-on-year, reaching about 30%, and the profitability increased significantly year-on-year.
(4) The comprehensive cost competitiveness of the company was further improved. The double rise of production and sales volume drives the scale effect and promotes the cost reduction and efficiency increase of manufacturing links; At the same time, the company strengthened the strategic procurement layout of raw materials to reduce the cost of the supply chain.
1、 There may be a large amount of ultra-high nickel in the next two years. What is the company's future promotion plan?
A: at present, rongbai is at the leading level in the industry in the R & D and mass production of ultra-high nickel.
In the second half of last year, the company's 9-series polycrystalline and single crystal products have started mass production. It is expected that there will be relatively large shipments from the second half of this year to the beginning of next year. The application fields include 4680 system, and ultra-high nickel has great advantages in cost performance. In other investor relations, some battery systems are actively promoting 9 series at the same time. Main activities
Introduction 2. In the annual report, we see that sodium electricity, manganese based and solid-state battery materials have been approved. What is the specific progress of nano ion battery materials at present? When will mass production be possible in the future? How about the technical reserve progress of several other new materials?
A: rongbai has many years of technical accumulation in the field of power receiving materials, and both mainstream technologies have reserves. As early as 2016, the company has made ton materials on a small scale. The new production line is compatible and can produce lithium battery and nano battery materials at the same time. At present, the shipment volume of nano power mainly depends on the demand of downstream customers. Other battery materials are also cooperating with some leading battery manufacturers in the industry, and the progress is relatively fast. 3、 According to the company's annual report, NCMA and NCA materials have made corresponding progress, including precursor preparation. Can you briefly introduce the specific progress of cutting-edge materials? A: at present, the company is mass producing NCA on a large scale, with a monthly shipment of hundreds of tons. By the end of this year, it may reach the scale of 1000 tons per month. At present, NCMA has begun the trial production stage. This material still has some unique advantages in some 4680 batteries. It is actively developed with some customers outside China and is expected to be mass produced next year. 4、 What is the capital arrangement to match the capacity expansion plan? A: the sources of funds include: local governments will provide supporting funds for project construction, and will invest in equity funds for industrial chain layout. In addition, the company used private placement to expand production of key new projects. 5、 Seeing that the company started construction on the day of signing the new base in Xiantao, could you briefly introduce the project? A: the company will build a new generation of green and low-cost production line in Xiantao, with more advanced equipment and further upgrading of technology, so as to meet the requirements of high-end customers. After completion, the company will reach an annual production capacity of 400000 tons of lithium battery cathode material manufacturing base, which will be built in three phases. Phase I (annual capacity of 100000 tons) is planned to be completed in
The second phase (with an annual capacity of 100000 tons) is planned to be completed before 2025, and the third phase is planned to be completed before the end of June 2023
(annual capacity of 200000 tons) is planned to be completed before 2030. At the same time, the company established Xiantao rongchuang No. 1 new energy partnership (limited partnership) with the investment platform designated by Xiantao municipal government to invest in the construction of phase I project with an annual capacity of 100000 tons. 6、 Seeing that the company signed a new integrated cooperation package agreement in Xiantao on March 29, what is the situation? A: 1. In order to implement the early strategic cooperation agreement (see the voluntary disclosure announcement signed with Beijing rongbai Investment Holding Co., Ltd. and Xiantao Municipal People's Government (Announcement No.: 2021082), the company recently signed the investment agreement of Xiantao cathode material production base of rongbai group and the partnership agreement of Xiantao rongchuang No. 1 new energy partnership (limited partnership) with Xiantao Municipal People's government Partnership agreement of rongbai battery triangle No. 1 equity investment fund partnership (limited partnership) (hereinafter referred to as "industrial investment fund"), project investment agreement of Xiantao rongbai New Energy Engineering Equipment Co., Ltd. and investment agreement of rongbai college.
The main agreed contents include: (1) build a lithium battery cathode material manufacturing base with an annual capacity of 400000 tons in Xiantao, which will be completed in three phases. Phase I (annual capacity of 100000 tons) is planned to be completed by the end of June 2023. (2) Set up Xiantao rongchuang No. 1 new energy partnership (limited partnership) to match the construction of phase I project with an annual capacity of 100000 tons. (3) The project of Xiantao rongbai New Energy Engineering Equipment Co., Ltd. (hereinafter referred to as "engineering equipment project") invested in Xiantao mainly produces and operates the R & D, design, production, sales and service of new energy equipment and supporting core components. (4) Invest in the construction of rongbai college project in Xiantao City, and plan to engage in relevant industrial training and external consulting services after the completion of the project. (5) For the establishment of industrial investment funds, see the announcement on participating in the initiation and establishment of equity investment funds and related party transactions disclosed by the company (Announcement No.: 2022008). 2. Signed the strategic cooperation agreement between Wuhan Hanyang District People's government and rongbai group with Wuhan Hanyang District People's government. The parties involved in the agreement plan to select the project land in Wuhan Hanyang District and establish the company's central China regional headquarters and new energy technology research institute; The company will set up a fund management company and industrial investment fund in Hanyang District, Wuhan, focusing on the upstream and downstream projects of new energy and new materials related industries. 3. Signed the strategic cooperation agreement between Changjiang Industrial Investment Fund Management Co., Ltd. and rongbai group with Changjiang Industrial Investment Fund Management Co., Ltd. to plan and cooperate to promote the investment layout of rongbai group in Hubei Province, including a series of projects such as landing in Central China regional headquarters, the world's largest cathode material base and engineering equipment company, so as to create a new business form and new business model of new energy battery material industry chain. 7、 What is the starting point of the company's upstream layout through the new integration strategy? A: cooperation with upstream enterprises can bring win-win situation and obtain business income and investment income at the same time; For upstream partners, we can expand their product sales channels; For downstream vehicle enterprises, the stability of battery material supply can be maintained, so this is a win-win situation for all parties; The car factory hopes that the recycler can re supply some relevant materials recovered to the car factory system through products, and hopes to connect the products
Then, we will invest in such recycling enterprises, produce a strong compound effect, bring some customer resources, and jointly develop more efficient and cleaner recycling processes.
8、 Establishment of industrial fund? What is the funding source and future layout direction of the new fund?
A: on the premise of meeting the company's daily operating capital needs, ensuring good development of main business and controllable overall investment risk, in order to further accelerate the strategic layout upstream and downstream of the new energy industry chain, enhance industrial synergy, explore and find new business growth points and improve the company's sustainable competitiveness. The investment fund focuses on the upstream industry of lithium cathode materials and battery manufacturing, application and recycling industries. Take the green and low-cost development of electricity for cathode material manufacturing as a breakthrough, invest in new energy technology and equipment system, as well as new energy service industry, form business synergy, innovation synergy and strategic synergy, and build an ecological industrial chain. The investment field has strong synergy with the company's main business, which is in line with the company's development strategy.
9、 Capacity planning of Korean base? The investment amount of a single 10000 ton base in South Korea will be much higher than that in China, including a single 10000 tons
