Autonomous innovation forged the leading position of Bomstone industry Anhui Estone Materials Technology Co.Ltd(688733) Aiming at the second venture of solid oxide batteries

In No. 10 Jinhe Road, Huaiyuan Economic Development Zone, Bengbu City, Anhui Province, with a quiet morning light rising from the east, reflecting the busy figures of the courtyard is particularly conspicuous. The “owner” of the compound is not simple: he is low-key and introverted, but has the mission of “making human life better through material innovation”; he is as warm as the wind, but always upholds the original intention of “creating value with knowledge”. He is as warm as the wind, but always upholds the original intention of “creating value with knowledge”.

He is Anhui Estone Materials Technology Co.Ltd(688733) . A fast-growing industry leader in new materials, a “small giant” enterprise with a ten-year increase of more than 17 times in R&D investment, and a listed company that will land on the science and technology innovation board on August 17, 2021.

A few days ago, when the Securities Daily reporter entered the Anhui Estone Materials Technology Co.Ltd(688733) headquarters, the company has just delivered a satisfactory answer sheet: the first half of 2022 revenue of 294 million yuan, an increase of 79.36%. Net profit attributable to shareholders of the listed company amounted to 839863 million yuan, an increase of 96.52% year-on-year. The products are widely used in new energy vehicles, consumer electronics, chips, 5G laminates and fire safety, etc. The downstream customers are all industry leaders outside China, such as Contemporary Amperex Technology Co.Limited(300750) , etc. So what is the secret behind the company’s business development? How much room is there for future growth? With a variety of questions, the reporter and the “top performer” for in-depth communication.

Innovation needs to work in between the millimeter“The key core technology can not be bought.” In the view of the company’s chairman Jiang Xuexin, customer demand-oriented, to provide personalized solutions, so as to meet customer needs and expectations, is to practice Anhui Estone Materials Technology Co.Ltd(688733) as the original intention of positioning R & D-driven enterprises.

With a doctoral background, entrepreneurial former professor-level senior engineer of a state-owned enterprise …… Jiang Xuexin, the company’s chairman, has been labeled by the industry as a scientifically rigorous work, which has also laid an effective foundation for the rapid growth of Anhui Estone Materials Technology Co.Ltd(688733) later.

“In addition to excellent products, but also to have the craftsmanship of excellence to explore the unknown world, we have always worked in between the millimeter.” Jiang Xuexin said, engaged in inorganic non-metallic materials research for more than 30 years, innovation is the only method that works. The company has created a team model in which scientists and engineers work side by side, i.e. scientists explore the laws of innovation and delve into scientific principles; engineers are responsible for the industrialization of innovation results and transformation into products that are acceptable to the market.

Since its establishment, the company’s original intention of independent innovation has been unswerving, insisting on innovation-driven high-quality development. From 1,340600 Yuan in 2013 to 24,252200 Yuan in 2021, the investment in R&D has increased more than 17 times during the period, and this R&D behind has brought substantial results for the company. Based on the research precipitation of inorganic non-metallic materials, the company has combined technical research with the actual needs of downstream customers and formed a number of core technologies such as the production technology of bombyte, the preparation technology of Low-α high-purity quartz and Low-α high-purity alumina for memory packaging, and the iron-free crushing technology of fluidized bed airflow mill.

“As the company has a large amount of know-how about materials, such know-how is not suitable for patenting in a short period of time, and the company will apply the accumulated experience in production process and formula as core technology in product production.” Shao Sen, the company’s director said.

Bum stone global shipments of the firstBumite, as ceramic coating particles, is the main component of inorganic coating materials for lithium batteries, which helps improve the multiplier performance and cycling performance of lithium batteries, reduce the self-discharge of the cells, improve the yield rate of the cells, and improve the safety performance of lithium batteries.

“The times have made Anhui Estone Materials Technology Co.Ltd(688733) !” Jiang Xuexin lamented that the company rides on the east wind of new energy, serving the active safety management of coating materials to meet the development needs of lithium batteries.

“Not all Bumite can be used for lithium battery diaphragm coating, the latter requires Bumite crystallization is very regular, particle size distribution to be uniform enough, and the control of magnetic foreign matter requirements are strict. At present, China can be industrialized for lithium battery diaphragm coating of Bumite manufacturers are still relatively few, with the competitive advantage of differentiation formed through years of industry accumulation, Anhui Estone Materials Technology Co.Ltd(688733) has become the core supplier of mainstream power battery plants and diaphragm plants and occupy 53% of the global market share, and eventually become the global number one in the segment.” Jiang Xuexin said.

Driven by the Bumstone products, the company’s revenue compound growth rate of about 54% in the past five years, net profit compound growth rate of about 96%. 2021 the company achieved operating revenue of 423 million yuan, an increase of 119.85% year-on-year; achieve net profit of 108 million yuan, an increase of 139.98%. In the first half of this year, the company achieved operating revenue of 294 million yuan, up 79.36% year-on-year; net profit attributable to the mother reached 83.963 million yuan, up 96.52% year-on-year.

The next step, ” Anhui Estone Materials Technology Co.Ltd(688733) Bomite products are positioned at the nanometer size, which can further reduce the existing 2-3 micron (μm) coating thickness to 1 micron (μm) and below.” Jiang Xuexin said, the company invested in the Bengbu Free Trade Zone to build the expansion of production “Phase I project” planning to add 40,000 tons of annual production capacity of Bumite, is expected to be completed and put into operation in December this year, for the company Bumite products market development to lay a solid foundation of production capacity.

According to Sinolink Securities Co.Ltd(600109) forecast, from 2022 to 2025, the global demand for lithium battery coating material Bumite (including diaphragm coating + electrode coating) is 73,300 tons, 126700 tons, 204600 tons, 343900 tons, corresponding to the market space of 1.467 billion yuan, 2.510 billion yuan, 4.013 billion yuan, 6.676 billion yuan, with a compound annual growth rate of more than 60%.

Entrepreneurial dream set sail againAs the global industrialization process continues to accelerate, committed to effectively address, reduce carbon emissions, has become a consensus reached by many countries.

Jiang Xuexin introduced the company’s layout of new products in the field of carbon reduction and carbon sequestration technology, will help strengthen the company’s depth and breadth of layout in the new energy industry, to achieve the “double carbon” goal to contribute to the company’s strength.

On August 17, 2021, Anhui Estone Materials Technology Co.Ltd(688733) officially landed on the A-share, after more than 7 months, Anhui Estone Materials Technology Co.Ltd(688733) and Huaiyuan County People’s Government signed the ” Anhui Estone Materials Technology Co.Ltd(688733) Carbon Neutral Industrial Park Project Framework Agreement”. Among the projects include annual output of about 2GW solid oxide battery system (SOC, a collective name for solid oxide fuel cell (SOFC) and its reverse process solid oxide electrolytic cell (SOEC)) related capacity production line, etc.

In Jiang Xuexin’s view, the production line related to the solid oxide battery system is the main focus of the project and the starting point of his second venture. Achieving zero carbon cycle through SOC will definitely become the ultimate solution to achieve the goal of “double carbon”.

Solid oxide fuel cell (SOFC) is a third generation fuel cell, which is an all-solid-state chemical energy conversion device that directly converts chemical energy stored in fuel and oxidizer into electricity in an efficient and environmentally friendly way at medium to high temperatures.

“Because of its all-solid structure, the cell is safe and stable, and can operate for long periods of time in an unattended state, and is suitable for fuels such as hydrogen and carbon monoxide, as well as directly using natural gas, coal gas, other hydrocarbons and reforming gas as fuel.” Jiang Xuexin said that the high-quality waste heat generated by SOFC can be used for combined heat and power supply, thus improving the waste heat utilization rate and achieving a total energy conversion efficiency of more than 80%, which realizes the sustainability of the battery.

The reverse mode of operation of SOFC is the solid oxide electrolytic cell (SOEC), which can use the electrical and thermal energy generated from clean primary energy to electrolyze carbon dioxide and water to produce hydrogen, carbon monoxide and other hydrocarbon fuels for efficient conversion and storage of large-scale energy and easy realization of liquefied transportation. “SOEC is an electrolyzer technology that can realize direct electrolysis of carbon dioxide, with a broader application scenario and market prospect.” Jiang Xuexin concluded by saying.

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