The project of lithium hexafluorophosphate and its additives with an annual production capacity of 20,000 tons started in Yangquan, Shanxi Province.

According to the news released by Duofuoduo (002407), the foundation stone laying ceremony of the project of lithium hexafluorophosphate and additives with an annual output of 20, 000 tons was held in Yangquan High-tech Zone New Materials Industrial Park on October 30th.

According to reports, the project with an annual output of 20, 000 tons of lithium hexafluorophosphate and additives has a total investment of 1 billion yuan and is built in stages: the first phase of the project has a construction period of 12 months and is scheduled to be put into production by the end of December 2022; and the second phase of the project is scheduled to be put into production by the end of December 2024.

The battery network noted that the main body of the project with an annual output of 20,000 tons of lithium hexafluorophosphate and additives is Duofu Duoyangfu New Materials Co., Ltd., with a registered capital of 200 million yuan. According to the previous investment cooperation agreement signed between Duofudo and the management committee of Yangquan high-tech zone, the management committee of Yangquan high-tech zone and the company jointly initiated the establishment of an industrial investment fund with a scale of 200 million yuan, of which the management committee of Yangquan high-tech zone contributed 180 million yuan, accounting for 90% of the share ratio; the company or its designated third party contributed 20 million yuan, accounting for 10% of the share ratio. The production investment fund is specially used to invest in the project company, and the two sides agree and approve the pre-investment valuation of the project company is 1 billion yuan, the production investment fund invests 200 million yuan, and the post-investment stock ratio is 16.67%.

In terms of production capacity, according to the information of the research activities of PFD on October 19, the company's annual production capacity of lithium hexafluorophosphate products has reached 15000 tons, and it is expected to ship about 13000 tons by the end of 2021; by the end of 2022, the company plans to increase its annual production capacity to 55000 tons, with annual production and sales volume planned to exceed 30,000 tons; after 2023, production and sales volume will gradually increase according to the market and production expansion.

In terms of performance, according to the three-quarter report released by Polyfluorodo, in the first three quarters of 2021, the company achieved operating income of 5.307 billion yuan, an increase of 85.36% over the same period last year; the net profit belonging to shareholders of listed companies was 737 million yuan, an increase of 5316% over the same period last year. The increase in the company's operating income is mainly due to the increase in the volume and price of new materials products and the increase in revenue during the reporting period.

In addition to lithium materials, polyfluoroduo currently has a lithium battery capacity of 3.5 GWH, has more than 10 years of lithium battery technology accumulation, and excellent safety performance. Just in September this year, the foundation of the multi-fluorine and multi-20GWh lithium battery project was laid in Nanning, Guangxi. In the future, in terms of lithium batteries, the company will form the capacity layout of polyfluorinated new energy 10GWh and Guangxi Ningfu new energy 20GWh.