Last year, through the acquisition of high-profile cross-border lithium iron phosphate field, Jiangsu Lopal Tech.Co.Ltd(603906) ( Jiangsu Lopal Tech.Co.Ltd(603906) ) tasted the sweetness as soon as it entered the market, and under the background of downstream demand explosion, production expansion became a necessary option.
On April 8, Jiangsu Lopal Tech.Co.Ltd(603906) ( Jiangsu Lopal Tech.Co.Ltd(603906) ) announced that it planned to sign an investment contract with Xiangcheng District People’s Government of Xiangyang City to invest in the construction of lithium iron phosphate cathode material production base locally, with a planned investment amount of 1.9 billion yuan.
On the same day, the company’s annual report was freshly released. In 2021, it recorded an operating revenue of 4.05 billion yuan, a year-on-year increase of 111.72%; The net profit was 350 million yuan, a year-on-year increase of 72.98%, mainly driven by the lithium iron phosphate business. According to Jiangsu Lopal Tech.Co.Ltd(603906) main operating data, the company’s performance has continued to improve this year, with an operating revenue of about 1.479 billion yuan from January to February, a year-on-year increase of 346.28%; The net profit was about 147 million yuan, a year-on-year increase of 5.59 times.
According to the announcement, Jiangsu Lopal Tech.Co.Ltd(603906) this expansion is divided into two phases, with a cumulative capacity of 100000 t / a lithium iron phosphate and 50000 T / a iron phosphate. The first phase of the project is to build an annual output of 50000 tons of lithium iron phosphate and 25000 tons of iron phosphate, with a construction period of 6 months; Phase II will build additional capacity of the same scale, which will be completed within 24 months after phase I is put into operation. In terms of economic benefits, the tax revenue for the first three years after the completion and operation of phase I project shall not be less than 40 million yuan per year, and the tax revenue after completion shall not be less than 60 million yuan per year. The tax indicators of phase II refer to phase I.
Starting from the business of environmental protection fine chemicals for vehicles, Jiangsu Lopal Tech.Co.Ltd(603906) in 2021, “overtaking by the way”, acquired 100% equity of beiteri (Tianjin) nano material manufacturing Co., Ltd. and Jiangsu beiteri Nano Technology Co., Ltd. through its subsidiary Changzhou Liyuan New Energy Technology Co., Ltd. (hereinafter referred to as “Changzhou Liyuan”), expanding its territory to the field of lithium iron phosphate cathode materials. In the past year, Changzhou lithium source achieved an operating revenue of 1.89 billion yuan and a net profit attributable to the parent company of 176 million yuan, making it a “big winner” in the profit contribution of listed companies. As a mainstream manufacturer of lithium battery materials, the company’s customers include Contemporary Amperex Technology Co.Limited(300750) , Ruipu energy, Eve Energy Co.Ltd(300014) and other mainstream battery manufacturers in China, and continue to promote the development progress of overseas customers in Japan, South Korea and the United States. At present, it has entered the stages of sample small-scale test, pilot test and small batch order. In 2021, Jiangsu Lopal Tech.Co.Ltd(603906) lithium iron phosphate was produced and sold well. The designed capacity of the company was 32500 tons, the sales volume was 30500 tons, and the capacity utilization rate reached 95.76%.
In the context of the rising demand for cost reduction in the industrial chain, lithium iron phosphate batteries broke through with the advantage of cost performance. In 2021, the output, sales volume and installed capacity accounted for 57.1%, 57.2% and 57.1% respectively, comprehensively exceeding the three yuan. SMM predicts that the output of lithium iron phosphate will reach 698000 tons in 2022, with a year-on-year increase of 70%. In the face of huge market demand, enterprises in the industry have set off a tide of production expansion. According to the previous statistics of the reporter of securities times · e company, the scale of production expansion claimed by various manufacturers and the existing production capacity have exceeded 5 million tons.
At present, Jiangsu Lopal Tech.Co.Ltd(603906) the capacity under construction includes the 150000t / a lithium iron phosphate cathode material project of Sichuan lithium source and the 50000 T / a lithium iron phosphate project of Shandong lithium source, of which the first phase of the 25000t / a project of Sichuan project has been completed and put into operation. It is worth mentioning that the capacity of Shandong lithium source project by the end of 2023 has been “contracted” by Contemporary Amperex Technology Co.Limited(300750) . According to the agreement, Contemporary Amperex Technology Co.Limited(300750) will underwrite the full capacity of the new project from the date of production (expected to be July 2022) to December 31, 2023 (about 75000 tons in total), and plans to pay an advance payment of 350 million yuan for the expansion of Shandong lithium energy; Shandong Liyuan also “reciprocates” and will give Contemporary Amperex Technology Co.Limited(300750) lithium iron phosphate products a discount of 2150 yuan / ton by the end of 2023.
