On the evening of April 28, Shandong Fengyuan Chemical Co.Ltd(002805) released the first quarterly report of 2022. During the reporting period, the company achieved an operating revenue of 277 million yuan, a year-on-year increase of 116.5%; The net profit attributable to the owners of the parent company was 407046 million yuan, a year-on-year increase of 323.36%; The basic earnings per share was 0.23 yuan, a year-on-year increase of 228.57%.
Facing the high prosperity of the industry, the company actively expands the production capacity of cathode materials. The lithium iron phosphate industry continues to pick up and grow rapidly, which has also brought new potential performance growth points to the company’s cathode material business. The company’s current capacity of lithium iron phosphate cathode material can no longer meet the growing order demand of downstream customers. The company is expanding its capacity to meet the needs of existing and potential customers. The company will further expand the production capacity of cathode materials through fixed growth, strategic cooperation and establishment of industrial funds. The production capacity of lithium iron phosphate is expected to reach 100000 tons by the end of 2022.
In terms of customers, the company focuses on high-value customer development, service and technology upgrading. Through hard development, the company has achieved stable cooperative relationship with Byd Company Limited(002594) , Guangzhou Great Power Energy&Technology Co.Ltd(300438) and mass supply with Guangzhou Great Power Energy&Technology Co.Ltd(300438) , far east battery and other customers in terms of ternary materials. In addition, the company has successfully entered the qualified supplier system of Contemporary Amperex Technology Co.Limited(300750) in January 2022.
At the same time, in order to optimize the industrial layout of raw materials, the company actively responds to the pressure brought by the overall expansion of raw materials industry chain. The company will establish a 1000 ton clay lithium extraction pilot line in Yuxi City, which is planned to be completed by the end of 2022.
The company said that while adhering to the innovation of technology, products, management and services, the company deeply studied the development and change trend of the new energy market, and promoted the technological progress of lithium battery cathode materials by integrating the cutting-edge resources of scientific and technological innovation at home and abroad; Through deep integration with key customers, continuously upgrade product performance and product series to improve market competitiveness; By increasing the investment in enterprise technology research and development and accelerating the research of product series, the company’s technical advantage is always in the front of the industry; Improve the share of medium and high-end market by continuously optimizing production management and expanding production capacity; Through strong technical support, provide customers with “product + service” system service scheme, help customers formulate product application system scheme and solve customers’ worries.
With the company actively expanding the production capacity of cathode materials and expanding the lithium salt development and extraction business upstream, the overall competitiveness of the company will be further strengthened.
