On April 15, Beijiao stock exchange’s “first brother” batery announced that it expected a net profit of 430 million yuan to 470 million yuan in the first quarter, a year-on-year increase of 64.09% – 79.35%.
According to wind data, as of the closing on April 15, beiteri reported 78.88 yuan / share, down 5.65%, with a total market value of 38.3 billion yuan, and its share price has fallen by more than 40% in the past six months.
At the performance presentation meeting, the company said that at present, the share price does not reasonably reflect the company’s value, the company is still in the period of expansion and development, with large capital demand, and there is no share repurchase plan for the time beingP align = “center” rapid business growth
Beiteri said that in the first quarter, the downstream battery market continued to boom, the market demand for battery materials increased, and the company’s positive and negative material business maintained rapid growth.
According to the latest data of China Automobile Industry Association, from January to March, the production and sales of new energy vehicles reached 1293000 and 1257000, with a year-on-year growth rate of 1.4 times and a market share of 19.3%. According to the data of China automotive power battery industry innovation alliance, from January to March, China Shipbuilding Industry Group Power Co.Ltd(600482) battery output totaled 100.6gwh, with a year-on-year increase of 206.9%.
Many institutions predict that by 2025, the installed capacity of lithium batteries will enter the T era (i.e. more than 1000gwh). Beiteri pointed out that the company will seize the development opportunities, focus on the main channels and strategic customers, and strive to achieve business performance higher than the growth level of the industry.
Despite the significant increase in performance, the increase in costs put pressure on beiteri’s profits. Some investors pointed out that the sales revenue of the company increased by nearly 1 billion yuan in the fourth quarter of 2021, but the profit decreased instead of increasing.
Beiteri responded that in the fourth quarter of 2021, the prices of coke raw materials and graphitization continued to rise, resulting in an increase in the cost of artificial graphite, an increase in the proportion of revenue, and a decrease in the gross profit margin of negative electrodes. The company will actively promote the research and development of new products, optimize the production process, speed up the introduction of new products and reduce costs; At the same time, strengthen the bargaining power with customers and conduct cost pressureP align = “center” accelerated production expansion
Beiteri is stepping up production expansion in many places recently.
Beiteri announced on February 16 that it signed the investment cooperation agreement on beiteri’s high-end lithium ion battery cathode material industrialization project with the people’s Government of Guangming District, Shenzhen, and plans to invest in the construction of a 40000 ton silicon-based cathode material project in Guangming District, with a total investment of 5 billion yuan.
It is understood that after obtaining the construction land in Guangming District, Shenzhen, the project is planned to be constructed by stages. It will be completed and put into operation by the end of December 2023, with an annual output of 15000 tons of silicon-based negative electrode materials, and achieve an annual output of 40000 tons of silicon-based negative electrode materials before 2028.
According to the data of Gaogong lithium battery, in 2020, the shipment of silicon carbon cathode in China was 9000 tons, accounting for about 2% of the total shipment of cathode materials. In 2025, the compound annual growth rate of the demand of the global silicon anode material industry is expected to reach 70%, and it will be in a high growth trend in the next few years.
Anxin Securities pointed out that if the project is successfully completed and reaches the production capacity, it will form an additional production capacity of 40000 tons of silicon-based negative electrode materials per year, which will help to enhance the market competitiveness of the company’s negative electrode materials business.
In addition, beiteri also signed a cooperation agreement with the people’s Government of Dali Bai Autonomous Prefecture and the people’s Government of Xiangyun County in January this year, and plans to invest in the construction of the “integrated base project of lithium battery cathode materials with an annual output of 200000 tons” in the economic and Technological Development zone of Xiangyun County.
According to the data, beiteri’s existing production bases are distributed in Shenzhen, Huizhou, Jiangsu, Sichuan, Tianjin and other places, with a negative electrode capacity of 153000 tons. It is estimated that the capacity in 2022 and 2023 will be 433000 tons and 643000 tons respectively.
