Shandong Shida Shenghua Chemical Group Company Limite(603026)
About 30000 T / a silicon-based anode project
Feasibility study report
1、 Basic information of the project (I) project name: 30000 T / a silicon-based negative electrode project (hereinafter referred to as "the project") (II) construction location: Sichuan Meishan high tech Industrial Park (III) project implementation unit: Shenghua new material technology (Meishan) Co., Ltd. (subject to the name approved by the industrial and commercial department) (IV) project construction content: 30000 T / a silicon-based negative electrode device and supporting works, Construction contents: 30000 tons / year of silicon-based negative electrode materials and 5000 tons / year of silicon oxide materials, which are planned to be put into operation in April 2024; The investment amount is 109986 million yuan. (V) project investment budget: 109986 million yuan (VI) project land area: 120001 M2 (VII) project construction period: 24 months (VIII) annual output value of the project: 219027 million yuan (IX) annual net profit: 268.12 million yuan 2. Project construction background (I) industrial policy requirements
The construction of the project is in line with the national industrial development plan and policy, the adjustment of industrial structure and the overall plan of social and economic development. The implementation of the project construction is necessary and feasible. (II) demand of social production development
With the rapid development of electronic technology and the vigorous popularization of new energy vehicles, it is expected that by 2025, new energy vehicles will account for more than 20% of vehicle production and sales, and the market scale of power batteries and key raw materials as the core components of new energy vehicles will expand rapidly. At the same time, in terms of battery performance, on the premise of meeting the requirements of long life, high safety and low cost, the demand for high energy density is higher and higher.
In recent years, relevant national ministries and commissions and governments at all levels have issued a series of encouragement and support policies, which have established a good policy environment for the new energy industry and promoted the rapid development of the new energy industry. As an important direction to improve the energy density of batteries, the demand for silicon-based cathode materials will also increase year by year, so there is a stable demand for the products of the project. (III) meet the development needs of the company's business
Shandong Shida Shenghua Chemical Group Company Limite(603026) chemical group, as a national key high-tech enterprise, adheres to scientific research, production, sales and service in the field of green new energy and new materials. With its unique technology and quality advantages, the company has become a supplier of high-quality solvent raw materials for many lithium-ion battery electrolyte manufacturers at home and abroad, contributing wisdom and strength to the development of new energy industry.
The construction of silicon-based negative electrode project is the business extension of the company in the new energy industry, give full play to the company's resource advantages in the new energy field, improve product added value, increase profit growth point, enhance the company's influence in the new energy field and promote the improvement of the core competitiveness of the enterprise. 3、 Project products and planned production capacity project products and specific planned production capacity are as follows:
Planned product capacity t / A
Silicon based negative electrode 30000
Silicon oxide 5000
Total 35000
4、 Source of project technology
The technology used in this project is the self-developed technology of the company. The company has a relatively mature production process in terms of silicon-based negative electrode and has the technical conditions to achieve large-scale production. 5、 Project site selection
The project is located in Meishan high tech Industrial Park, Sichuan, with good road transportation and other infrastructure facilities, and there are high-grade highways in the territory. The "four horizontal and eight vertical" highway network and the "four horizontal and five vertical" railway network and planning have been formed. The water transportation conditions are convenient and meet the requirements of plant construction. 6、 Supply of main raw materials of the project
The raw materials silicon dioxide, metal silicon and graphite required for the project have rich supply channels in China, which can be purchased in China. Some products are used for linkage devices, and other raw and auxiliary materials are in sufficient supply in the market. They can be purchased directly from Chinese manufacturers, and some can be purchased in the surrounding areas. Moreover, the transportation is convenient, which can meet the requirements of the project.
7、 Safety and environmental protection of the project
The project has a complete pollutant treatment scheme, and the emission of "three wastes" can be effectively solved, which meets the requirements of national cleaner production. At the same time, pay attention to safe production and industrial hygiene in the design, earnestly implement various national and local laws and regulations, and take perfect safety, health and fire-fighting measures to ensure safe production. 8、 Project implementation planning
The project is planned to start in April 2022. The construction period is expected to be 24 months and put into operation in April 2024. 9、 Investment amount and capital source of the project
The total investment budget of the project is 109986 million yuan, of which the construction investment is 542.34 million yuan and the working capital is 557.52 million yuan. All the investment funds of the project are self raised. 10、 Economic benefit analysis of the project
After the completion of the project, the average annual operating income can be 219027 million yuan and the net profit after tax can be realized
268.12 million yuan. The financial internal rate of return after tax of the project investment is 22.9%, and the payback period of the project investment (after income tax) is 6.6 years. The profitability of the project is higher than the industry average level and meets the requirements of investors.
(I) after the stable production of the project, the specific forecast of operating income is as follows:
Product cost (10000 yuan)
Silicon based negative electrode 219027185841
Total 219027185841
(II) according to the above revenue, cost forecast and various operating expenses forecast, the specific profit forecast of the project is as follows:
Basis for project (annual average) amount prediction
Operating income 219027 is calculated according to the income after the project is completed
Business tax and surtax 1642 are calculated according to urban maintenance and construction tax and education surtax
The total cost 185841 is calculated based on the total annual operating costs and expenses
The total profit 31543 is calculated according to the operating income - business taxes and surcharges - total costs
Income tax 4731 is calculated based on the annual income tax expense
Net profit 26812 is calculated based on total profit - income tax
11、 Risk analysis of the project
1. Market change and price fluctuation risk
Macroeconomic fluctuations outside China will affect the demand for products. With the gradual maturity of silicon-based negative electrode material technology, medium and low-end products may face fierce competition in the future, which will affect the market supply and demand status and price of the products involved in the project, and may lead to changes in the economic benefits of the project.
2. Risk of putting the unit into operation
There are still uncertainties about the arrival period of main equipment, whether the unit can reach the design capacity and quality, and whether the project can reach the design quality, and the time of reaching production.
3. Project construction approval risk
At present, the project still needs to go through the approval procedures for project safety and environmental protection in relevant administrative departments according to the regulations, and there is a risk of delayed construction caused by failure to pass the approval.
4. Environmental protection and safety production risks
With the deepening of national environmental protection governance and the gradual enhancement of social environmental protection awareness, if the government implements more strict environmental protection standards for fine chemical enterprises in the future, the cost of environmental protection governance of the company will continue to increase, resulting in the increase of production and operation costs, which may affect the income level of the project to a certain extent in the future.
5. Risk of extension of project construction period
There are many departments and approval procedures involved in project approval and construction (project initiation, environmental assessment, safety assessment, fire acceptance, etc.), trial production application, completion acceptance and other links. There is a risk that the project construction period will be extended due to the failure of project approval.
6. Market expansion risk
At present, the company's 1000 t / a cathode project is in the trial production stage, and there are uncertainties in market development and product certification. Customers need a certain certification cycle for the introduction of new products. 12、 Conclusion (I) the project is a new energy negative electrode material project encouraged, supported and prioritized by the state. It has a certain market prospect and is in line with the national industrial development plan. (II) from the perspective of industry direction, on the premise of ensuring safety, high and low temperature performance, there is still more room for improvement in energy density, material cost and safety performance, and the market demand of products will grow steadily in the future; (III) product performance and process design are the core competitiveness of silicon-based negative electrode materials. Shandong Shida Shenghua Chemical Group Company Limite(603026) has carried out research and development in the direction of silicon-based negative electrode materials for many years, and has established good cooperative relations with colleges and universities. It has a strong ability to continuously upgrade products and has the opportunity to grow in the fast-growing market. (IV) the raw materials of the project are ordinary chemical raw materials, with stable and guaranteed supply. (V) the project has good financial indicators. The internal rate of return, total investment rate of return and net profit rate of equity investment are higher than the industry benchmark value, and the investment payback period is lower than the benchmark payback period. From the perspective of uncertainty analysis, the project has certain anti risk ability and market competitiveness. The financial evaluation index shows that it has good economic benefits. (VI) from the perspective of environmental protection, the project has a complete pollutant treatment scheme, and the emission of "three wastes" can be effectively solved without causing great impact on the surrounding environment. (VII) the site selection of the project conforms to the development plan of the construction land, and the land occupation scale is reasonable, so the site selection is reasonable. After the project demonstration, we believe that the project conforms to the national construction policy, industrial policy and investment direction, with reliable technology, good economic benefits, low investment risk, low production cost, good market prospect and large profits. It is of great significance to provide more products for the society, meet the needs of national economic development, and improve the economic and social benefits of enterprises. The implementation of the project is feasible.
Shandong Shida Shenghua Chemical Group Company Limite(603026) April 2022
