In the past 2021, as the upstream raw material of lithium battery, the price of new fluorochemical materials soared due to the hot market demand, and relevant enterprises made a lot of money.
On January 21, Lecron Industrial Development Group Co.Ltd(300343) , Zhejiang Sanmei Chemical Industry Co.Ltd(603379) successively disclosed the performance forecast for 2021. Among them, Lecron Industrial Development Group Co.Ltd(300343) is expected to turn losses into profits year-on-year, and Zhejiang Sanmei Chemical Industry Co.Ltd(603379) net profit has increased by about twice year-on-year. Previously, Do-Fluoride New Materials Co.Ltd(002407) , Shenzhen Capchem Technology.Ltd(300037) and other fluorine chemical enterprises also successively issued brilliant performance forecasts.
the maximum pre increase of net profit is 26 times
The reporter combed the performance increase and main products of the main fluorine chemical listed companies that have disclosed the performance forecast in 2021:
In terms of the expected growth rate, Do-Fluoride New Materials Co.Ltd(002407) with an expected net profit increase of more than 20 times and Lecron Industrial Development Group Co.Ltd(300343) , Guangdong Tonze Electric Co.Ltd(002759) with a year-on-year turnaround from loss to profit are the most eye-catching.
Do-Fluoride New Materials Co.Ltd(002407) in the performance forecast, it is said that the main reason for the performance increase is the strong market demand for new material products mainly lithium hexafluorophosphate, the gradual release of new production capacity of relevant products, the high level of capacity utilization and the significant improvement of profitability.
Guangdong Tonze Electric Co.Ltd(002759) said that the main reason why the performance turned from loss to profit was that Jiangsu Xintai, a wholly-owned subsidiary of the company, mainly engaged in lithium hexafluorophosphate products. During the reporting period, the production and sales of lithium hexafluorophosphate products increased significantly. At the same time, due to the rapid growth of new energy vehicle industry and the great increase in market demand for lithium hexafluorophosphate, the market sales price of lithium hexafluorophosphate increased. Under the influence of dual factors, The company's operating efficiency in 2021 increased significantly compared with that in 2020.
Lecron Industrial Development Group Co.Ltd(300343) benefits from new fluorochemical materials such as PVDF (polyvinylidene fluoride). In addition, Lecron Industrial Development Group Co.Ltd(300343) is also a hot Bull Stock in the capital market in 2021.
According to China stock market news choice, as of the closing on December 31, 2021, Lecron Industrial Development Group Co.Ltd(300343) increased by 488.93% compared with 2.89 yuan at the end of 2020. The annual harvest was 7 days, and there was no closing limit.
lithium hexafluorophosphate "soared to the sky"
How popular are lithium hexafluorophosphate and PVDF as popular chemicals that have greatly increased the performance of many fluorine chemical enterprises?
Lithium hexafluorophosphate is the lithium salt of electrolyte commonly used by lithium battery manufacturers at present, which is called the "blood" of lithium battery. 1 ton of lithium hexafluorophosphate is required for every 8 tons of electrolyte. According to the report of in-depth analysis and investment development trend prediction report of China's lithium hexafluorophosphate industry from 2019 to 2025 issued by China Research Institute Puhua Research Institute, the demand for electrolyte solute of lithium battery is expected to increase by 70% in 2022, and the demand momentum of lithium hexafluorophosphate will remain strong.
According to Baichuan information monitoring, on January 21, the average price of lithium hexafluorophosphate in China was 560000 yuan / ton, an increase of more than 350% in the past year. The production capacity utilization rate of various production enterprises was high, the inventory was low, and the market was in short supply.
The Research Report of securities companies generally believes that under the condition of continuous and large-scale demand in the industry in the future, it is expected that the supply-demand relationship of lithium hexafluorophosphate will continue to be tight, and the product price will continue to operate at a high level
price trend of lithium hexafluorophosphate
Because of the strong market demand, many fluorine chemical enterprises are actively expanding production.
For example, the leading enterprise Do-Fluoride New Materials Co.Ltd(002407) of lithium hexafluorophosphate said during the investigation of institutional investors that the company's total capacity of lithium hexafluorophosphate products had reached 20000 tons by the end of 2021; It is estimated that 13000-14000 tons will be shipped in 2021. According to the company's production expansion plan, it is planned to add 40000 tons of capacity by the end of 2022, and the annual production and sales volume is planned to reach 30000-35000 tons. After 2023, new capacity will be released according to market demand
source: Do-Fluoride New Materials Co.Ltd(002407) announcement
Guangdong Tonze Electric Co.Ltd(002759) according to the investor interaction platform, the company's new 10000 ton lithium hexafluorophosphate project is planned to be put into trial production in the second quarter of 2022. At present, the project construction is stepping up, and some equipment has been installed and commissioned.
more new capacity on the road
Fluorine containing new materials extending downward from the refrigerant industry chain are another highlight of the fluorine chemical industry in 2021, among which PVDF, the cathode binder of lithium battery, has attracted much attention.
As one of the indispensable key materials in the lithium battery industry chain, PVDF combined with NMP solvent as cathode binder in lithium battery can directly affect the electrochemical stability, energy density, power and safety of the battery, and there is no substitute in the short term.
With the rapid increase of new energy vehicles, energy storage and the proportion of lithium iron phosphate batteries, the demand for PVDF is increasing rapidly. The agency estimates that from 2021 to 2022, the demand for lithium grade PVDF will reach 15000 tons and 24000 tons respectively, with a compound annual growth rate of more than 50%. Demand increased, but the production capacity of PVDF could not be increased rapidly. At present, there are only more than 10 PVDF manufacturers in China, with a total capacity of about 90000 tons / year. However, due to the difficulty of production technology, the total output of PVDF that can be used as lithium battery binder is low.
According to the monitoring of Baichuan Yingfu, the average price of lithium grade PVDF in China has reached 445000 yuan / ton, with the highest increase of more than 600% since the beginning of 2021. Among them, R142b is its core intermediate raw material. At present, the price of R142b has increased several times, and the price has soared from 20000 yuan per ton in early 2021 to nearly 190000 yuan.
Due to the tight supply in the market, Contemporary Amperex Technology Co.Limited(300750) and other battery manufacturers have personally grabbed raw materials. On December 12, 2021, Lecron Industrial Development Group Co.Ltd(300343) announced that the company had signed a cooperation framework agreement with Contemporary Amperex Technology Co.Limited(300750) and agreed to purchase lithium battery grade PVDF and R142b products from the company within the validity of the agreement. According to the cooperation framework agreement, on the premise that the technology, quality, delivery and service of Lecron Industrial Development Group Co.Ltd(300343) products can meet the use standards of Contemporary Amperex Technology Co.Limited(300750) , Contemporary Amperex Technology Co.Limited(300750) gives priority to purchasing the company's lithium battery grade PVDF and R142b products. The purchase quantity of R142b is not less than 1700 tons by the end of December 2021; Not less than 7200 tons in 2022. The purchase volume of lithium battery grade PVDF is determined according to the production volume of Lecron Industrial Development Group Co.Ltd(300343) at that time
price trend of battery grade PVDF since 2021
source: Baichuan Yingfu
In terms of new production capacity, Lecron Industrial Development Group Co.Ltd(300343) said when receiving the investigation of institutional investors that at present, PVDF has 3000 tons of production capacity into trial production, and the production capacity is constantly being released; The later 5000 t capacity is planned to be put into operation from June to July 2022, and the later 6000 T / a PVDF and supporting 11000 T / a R142b are planned to be put into operation at the end of 2022 or the beginning of 2023.
Zhejiang Juhua Co.Ltd(600160) said on the investor interaction platform that 23500 tons / year of PVDF will be added. Previously, the company has said that the company's 10000 t / a PVDF has been completed with 3500 T / A, and the remaining 6500 T / A is expected to be completed in the first half of 2022. Its products include PVDF resins such as coating grade, Cecep Solar Energy Co.Ltd(000591) back sector membrane, water treatment membrane, wire and cable, lithium battery bonding and so on.
Haohua Chemical Science & Technology Corp.Ltd(600378) said that the company's 2500 t / a PVDF project is expected to be put into operation in the first quarter of 2022. Phase I of 4600 T / a electronic special gas project will be put into operation at the end of 2021, and phase II will be put into operation in the first quarter of 2022.
Zhejiang Yonghe Refrigerant Co.Ltd(605020) indicates that the PVDF project is advancing in an orderly manner. Previously, the company announced that it would build a 10000 t / a PVDF production line in its subsidiary shaowuyonghe.
