Penghui Energy: expanding 4GWh production of Lithium Iron Phosphate Battery in 2021

Recently, in response to questions from investors, Penghui Energy revealed that the company plans to expand production of lithium iron phosphate battery for 4GWh in 2021. "benefiting from the strong demand for lithium iron phosphate batteries from downstream car companies, the company will accelerate the expansion of lithium iron phosphate batteries." The person in charge of Penghui Energy said.

On March 26, in order to stabilize the supply of lithium iron phosphate raw materials, Penghui Energy also passed the "Bill on Joint Venture and related transactions jointly invested with related parties" and agreed to participate in the establishment of Sichuan Yingda Lithium Power New Materials Co., Ltd. The company is mainly engaged in the research and development, production and sales of lithium iron phosphate precursors. Through this equity participation, it will help the company to stabilize the supply of upstream battery materials, reduce procurement costs, and further improve the competitiveness of the company's products. " The above-mentioned person in charge said.

In fact, with the continuous layout of lithium iron phosphate batteries, Penghui Energy has had a certain impact on the installed capacity of lithium iron phosphate batteries in China. According to the data, the top 10 domestic companies with installed lithium iron phosphate batteries in 2020 are: Ningde era, BYD, Guoxuan Hi-Tech, Ruipu Energy, Yiwei Lithium Energy, Lishen, Penghui Energy, Wanxiang 123, AVIC Lithium Power, Anchi New Energy, Penghui Energy ranked seventh.

According to the first quarter 2021 report released by Penghui Energy at the end of last month, thanks to the hot sales of related models such as the Wuling Hongguang MINI EV, and assisted by lithium iron phosphate batteries (previously, Penghui Energy disclosed in response to questions from investors, the company's current production and sales of new energy vehicle power batteries are all lithium iron phosphate batteries), the revenue of Penghui energy power battery sector has increased more than fourfold compared with the same period last year.

In fact, in the first quarter of this year, in addition to the field of power batteries, Penghui Energy has achieved significant income growth in many areas, such as light power, energy storage, consumer digital and so on.

Among them, in the field of light power products, Penghui energy revenue increased more than fourfold in the first quarter. According to reports, Penghui Energy's revenue growth in this field is due, on the one hand, to the growth of the business in the field of electric bicycles (it has obtained a large number of orders from customers such as Hello Power Exchange and Nambo); on the other hand, it has successively obtained a large number of orders from the international giant TTI of power tools, resulting in a substantial increase in revenue from battery products for power tools.

At the same time, Penghui's revenue in energy storage has nearly doubled. The surge in income in the field of energy storage is inseparable from the growth of household energy storage, communications energy storage and other sub-sectors. As the company's household energy storage products were certified in Europe and Australia last year, a large number of orders were received in the first quarter of this year. In addition, there is also a relatively large increase in large-scale energy storage. " The above-mentioned responsible person said.

In addition, thanks to business growth in personal care, Bluetooth speakers / headphones, e-cigarettes, mobile power, etc., Penghui Energy's revenue in the field of consumer digital batteries increased by about 50% compared with the same period last year.