Following the successful listing of Xiamen Tungsten Xinneng (688778), Fangyuan (688148) and long-term Lithium (688779) in August this year, Science and Technology Innovation Board lithium cathode material plate re-expansion!
On September 14, Zhenhua Xincai successfully landed on the Kechuang board with the securities code of 688707 and the issue price of 11.75 yuan per share. As of press time, the share price of Zhenhua Xincai reached 48.6 yuan per share, an increase of more than 300%.
According to public data, Zhenhua New Materials was established in April 2004, and its controlling shareholder is China Zhenhua Electronics Group Co., Ltd., which is the only enterprise specializing in the R & D, production and sales of lithium-ion battery materials under (CEC) of China Electronic Information Industry Group Co., Ltd. The company's main products are lithium cobalt, composite ternary, power ternary and high manganese polycrystalline materials.
Battery Network noted that the net fund raised by IPO, Zhenhua New Materials is about 1.235 billion yuan, which is mainly invested in the construction project of lithium-ion battery cathode material production line (Shawen II), the construction of lithium-ion power battery ternary material production line (Yilong II) and supplementary liquidity.
Zhenhua Xincai said that the two fund-raising projects are expected to reach production in two years. After reaching production, the overall production capacity of cathode materials will be increased from 37000 tons to 62000 tons per year.
In terms of customers, after more than 10 years of deep ploughing, the company has established a good reputation in the industry with reliable product quality, and has successively entered the supply chain of domestic well-known lithium-ion battery manufacturers, and has become an important supplier of positive materials for domestic battery manufacturing enterprises, such as Ningde era, Funeng Technology, (ATL), Weihong Power, Tianjin Lishen, Zhongshan Tianmao, Duofuo, Zhuhai Guanyu, Huizhou Liwei and other domestic battery manufacturers.
Among them, from 2018 to 2020, Zhenhua new materials accounted for 65.22%, 74.44% and 31.22% of the current operating income respectively, and from January to March 2021, the figure was 65.11%, all at a high level.
In terms of performance, in the first half of this year, Zhenhua Xincai achieved operating income of 2.084 billion yuan, an increase of 429.54% over the same period last year, and realized a net profit of 151 million yuan belonging to the shareholders of the parent company, turning losses into profits and achieving substantial growth. The company said that it is mainly due to the rapid recovery of China's new energy vehicle terminal market, driving the rapid growth of upstream market demand for new energy vehicle power batteries and ternary cathode materials, and at the same time, the company's expansion of sales revenue of high-nickel 8-series ternary materials and the early postponement of the order resumption led to the corresponding growth of the company's net profit scale.
Affected by the rapid growth of terminal market demand for new energy vehicles downstream, the expansion of sales revenue of high-nickel 8-series ternary materials with relatively high gross profit margin, and the resumption of orders in the previous period, Zhenhua Xincai is expected to achieve operating income of 3.3 billion yuan to 3.65 billion yuan from January to September this year, an increase of 382.34% per cent over the same period last year. 433.52%; the net profit attributed to the shareholders of the parent company is 231 million yuan to 272 million yuan.
In addition, combined with major customer demand plans, market forecasts and careful calculations, Zhenhua Xincai expects the company's sales income of high-nickel 8-series NCM ternary materials to achieve 14.07-1.865 billion yuan in 2021, accounting for about 40% of the company's main business income in 2021, which is an important guarantee for the company's sustained growth in 2021 and subsequent years.
