Recently, the company announced that the company plans to invest 700 million yuan to build a new energy battery cathode material precursor project in Xuzhou District, Yibin City, Sichuan Province, and use Yibin as the southwest headquarters base of Hezong Technology. The company and the Xuzhou District People's Government will appoint regional state-owned companies to jointly fund the establishment of a subsidiary controlled by the company, and the project company mentioned above will carry out the construction, investment and operation of the projects agreed in the investment agreement.
Join the Yibin New Energy Phalanx, the perfect fit. At the beginning of the 13th Five-Year Plan, Yibin City took the NEV industry as an important growth pole and actively laid out the entire industry chain. Chery New Energy, Ningde Shidai, Tianhua Chaojing, and the local state-owned enterprise Tianyuan Group have jointly built a battery-grade lithium salt-ternary material precursor-ternary material precursor-power battery-new energy vehicle industry chain phalanx. They are Yibin Tianyi Lithium (shareholders: Tianhua Chaojing, Ningde Shidai, Tianyuan Group, etc.), which is expected to start production by the end of the year; Yibin Guangyuan Lithium Battery Materials (shareholders: Tianyuan Group, Guoguang Electric, etc.), 20,000 tons of ternary precursors, there are also long-term plans; Yibin Lithium Bao New Materials (shareholders: Tianyuan Group, Guoguang Electric, etc.), 20,000 tons Ternary materials also have long-term plans; Sichuan Shidai New Energy (shareholder: Ningde Shidai), 30GWh power battery under construction; Chery New Energy. The implementation of Hi-Zong Technology in Yibin this time can form a perfect fit in terms of iron phosphate precursors, effectively synergizing the advanced iron phosphate production line in Yacheng, Hunan with advantages such as low electricity prices in Yibin;
Dual insurance layout for battery materials. At present, the company has formed two major series of new energy battery material products: cobalt ore - cobalt hydroxide product series and iron phosphate series. This also represents the two mainstream routes of future power battery materials: ternary materials and lithium iron phosphate to achieve a double insurance layout; the company currently has an operating capacity of 30,000 tons of iron phosphate and plans for 50,000 tons in the future, ranking first in the industry. The product has three advantages: the cost advantage of intelligent production lines, the quality advantage of high-capacity high-pressure real products, and the advantages of binding star customers such as Guoxuan Hi-Tech, BYD, Betry, and Peking University Pioneer
It is proposed to raise an additional 1 billion yuan to create a closed loop in the industry. Recently, the company announced that it plans to raise no more than 1,006 billion yuan from a non-public offering to invest in the industrialization of distribution automation terminals, the construction of a distribution IoT R&D center, and the manufacturing project of charging pile equipment for new energy vehicles, effectively extending the company's layout in the power distribution field and new energy battery materials, and continuing to cultivate the company's future growth points. Overall, maintain the company's “buy” rating.
Risk warning: Project progress falls short of expectations, macroeconomic deterioration exceeds expectations