Benefiting from the high vision of the carbon nanotube industry, Jiangsu Cnano Technology Co.Ltd(688116) has recently been investigated by 440 institutions, including 94 fund companies, 35 securities companies, 100 private placement, 29 insurance companies, etc.
What is the "magic" of small carbon nanotubes that attracts the attention of so many institutions? In this regard, the reporter of Shanghai Securities News exclusively connected Jiangsu Cnano Technology Co.Ltd(688116) relevant principals to understand the rapid development trend of carbon nanotubes and the layout of leading enterprises in recent years.
Pictures of some products of carbon nanotube powder (source: Jiangsu Cnano Technology Co.Ltd(688116) )
industry ushers in "dual power"
Carbon nanotube, also known as Bucky tube, or CNT for short, is a one-dimensional quantum material formed by curling a single or multi-layer graphene layer around the central axis at a certain helix angle. According to the analysis of insiders, carbon nanotubes have good mechanical properties, electrical properties, thermal conductivity and chemical stability. Thanks to its characteristics, carbon nanotubes are used as a new conductive agent in power batteries.
on the one hand, the power battery market is growing rapidly, which has become the main driving force for the growth of the conductive agent market
According to the survey data of the Institute of lithium battery research (GGII), in 2021, driven by the growth of demand for power batteries and energy storage batteries, China's lithium battery market reached 327gwh, with a year-on-year increase of 129.7%. It is estimated that by 2025, China Shipbuilding Industry Group Power Co.Ltd(600482) lithium battery market will reach 1070gwh and global power battery market will reach 1550gwh, thus driving the application demand of upstream materials.
on the other hand, the demand for performance upgrading such as fast charging of power batteries also drives the upgrading requirements of the whole lithium battery material system
Jiangsu Cnano Technology Co.Ltd(688116) relevant person in charge introduced that lithium iron phosphate batteries have relatively more demand for carbon nanotubes, while high nickel batteries have higher requirements for carbon nanotubes. The two potential power batteries need new conductive materials. It is reported that in addition to new energy vehicles, some 3C medium and high-end products also have the application of carbon nanotubes.
(source: GGII)
The China Electricity Council said that the goal of high-power charging technology is to achieve 80% charging in 10 to 15 minutes in the near future, and the power will reach 900kw in the future Reducing charging time is a necessary factor to improve the convenience of electric products. The improvement of magnification performance will promote the consumption of carbon nanotube conductive agent.
Soochow Securities Co.Ltd(601555) analysis shows that carbon nano conductive agent has obvious cost performance advantages over traditional conductive agent carbon black. GGII predicts that the permeability of carbon nanotubes is expected to increase from 27% to 61% in 2025. In this way, the demand for carbon nanotubes continues to grow rapidly and the competition pattern of the industry is stable. The agency expects that some iron lithium batteries will switch to second-generation products in 2022.
industry leaders coincide with the opportunity
According to the statistics of GGII, the total scale of China's new conductive agent slurry market reached 98000 tons in 2021, an increase of 61.5% year-on-year compared with 2020. Among them, the market scale of carbon nanotube conductive paste was 78000 tons, an increase of 62% Jiangsu Cnano Technology Co.Ltd(688116) 2021 accounted for 43.4% of the market share, and was in a leading position in terms of production and marketing scale, customer structure and product R & D strength. The above person in charge of the company said that the company cooperates with major manufacturers in the field of power batteries to varying degrees.
Current market share of carbon nano conductive paste in China (source: GGII)
In 2021, Jiangsu Cnano Technology Co.Ltd(688116) net profit attributable to parent company increased by 175.88%. According to the person in charge, the above performance growth is due to the company's technical advantages, leading the development of the industry and high customer recognition; Second, on this basis, it has maintained good product quality and continuously improved the existing products in terms of conductivity and purity; Third, it has a high market share, has relatively prominent market competitiveness, and has the ability to lead the industry to improve quality and upgrade.
On May 8, Jiangsu Cnano Technology Co.Ltd(688116) once announced that the company plans to invest about 3 billion yuan to build Jiangsu Cnano Technology Co.Ltd(688116) western base project. This project will build carbon nanotubes and related composite products production project and Jiangsu Cnano Technology Co.Ltd(688116) Chengdu R & D center. The project plans to produce 20000 tons of carbon nanotube powder.
The above person in charge said that the company's industrial base in the southwest is conducive to forming a cluster effect with downstream customers. This expansion shows the potential of Jiangsu Cnano Technology Co.Ltd(688116) sustainable development. It is reported that the current expansion of the company's production capacity is considered according to the actual needs of customers. At the same time, we should also pay attention to the upstream production capacity such as toner. In the long run, the carbon nanotube track will be better as a whole. In addition, nano materials are widely used, and the company is also developing applications in other fields.
Jiangsu Cnano Technology Co.Ltd(688116) quarterly profitability (source: Soochow Securities Co.Ltd(601555) )
By the end of 2021, Jiangsu Cnano Technology Co.Ltd(688116) company's main product carbon nanotube conductive paste has an annual production capacity of 34000 tons. The production expansion project of the western base will further open up the company's long-term growth space in lithium battery, semiconductor and other fields relying on carbon nanotubes. At present, the company's oligowall pipe is still in the pilot stage. It is expected that the company will sell to overseas major customers in 2023, realize small batch shipment, and enhance the international competitiveness of the enterprise.
