Event: invested 13.2 million yuan to set up a joint venture company Meinan New Materials, accounting for 88% of the registered capital. Anhui Meixin and Changsha Meiyue Technology set up a joint venture company Meinan New Materials to carry out research and development around the following areas: (1) Research on new separator materials for sodium ion batteries; (2) Research on semi-solid diaphragm materials for lithium ion batteries; (3) Research on diaphragm coating materials for lithium ion batteries. (4) study on the application of conductive carbon black in lithium / sodium ion battery.
Speed up the research and development of diaphragms for semi-solid batteries, accelerate production capacity and release performance step by step compared with liquid conventional batteries, semi-solid batteries have higher energy density and more stringent safety requirements. The working mechanism of ion conduction in the electrolyte environment further highlights the importance of the diaphragm: the basement membrane often needs to have larger pore diameter and higher porosity to improve the energy density of the battery. The formulation of the coating slurry needs to be customized, and the solute may be switched from the current mainstream inert inorganic materials such as alumina and boehmite to active materials with ionic conductivity to achieve higher heat resistance and mechanical strength. at present, the company already has the technical reserve of the diaphragm needed for semi-solid battery. The company is determined to become an excellent wet diaphragm supplier in lithium battery, sodium battery, semi-solid battery and other industries. At present, the production line has a total capacity of 150 million square meters and has basically been produced at full capacity and supplied in batches. A total of 150 million square meters of production lines are under commissioning and trial production is expected to start by the end of August. The company firmly promotes production capacity construction and has signed an equipment procurement contract with Zipu Machinery. 600 million square meters of production capacity may be added in 2023, and the long-term plan may exceed 1.5 billion square meters, and new entrants will further seize the share. Capacity construction forms an effective supply, and the performance is expected to be released quickly.
The new layout of conductive carbon black can speed up the improvement of the layout of the industrial chain and create a platform competitive advantage as a cost-effective conductive agent in the process of domestic substitution. Carbon black can effectively increase the contact between active materials and increase the electron transfer rate, thus improving the rate performance and cycle life of lithium batteries. The company grasps the development trend of the industry, speeds up the improvement of the collaborative layout of materials in the middle reaches of lithium electricity, and enjoys the development dividend of the industry.
Investment advice: the company's net profit from homing in 22-23-24 is expected to reach RMB 372, 552, 000, 200, 000.
Risk hint
The development of new energy vehicles is not as expected; the development of capacity expansion products is not as expected; material price fluctuations and so on.