SMM News: a few days ago, Hengdian East Magnetic said in a survey by investor institutions that in the "new energy" plate, the company is a leader in the field of single crystal battery chips, with a mass production conversion rate of 22.8%. It currently has an annual production capacity of 600MW wafers, 4GW battery chips and 1.5GW components.
According to reports, after Hengdian East Magnetic shifted the new energy lithium battery industry strategically to small power, its operating situation has greatly improved, and the gap between supply and demand has gradually become apparent. At present, it is in a state of full production and full sale. Currently, it has invested and expanded the annual production project of 148 million lithium batteries, which is expected to be completed and put into production in July 2021. At that time, it is expected to become a new performance growth point of the company.
Hengdian Dongji said that the company's lithium battery is a ternary material system, with an annual production capacity of 100 million lithium batteries, mainly used in power tools, floor-sweeping robots, portable energy storage and other fields. In the future, with the expansion of the production scale, the company will expand the development of more demanding customers, while the new material system of lithium batteries is also being studied.
According to the forecast of Markets andMarkets, an international market research institution, the global market for power tools is about $31.8 billion in 2019 and will reach $41.7 billion by 2024, of which the penetration rate of cordless power tools will exceed 50 per cent. The cordless trend has created conditions for the application and development of lithium batteries in the field of power tools, and lithium batteries have great potential for growth in the power tools market in the future.
In the first half of 2020, the demand for lithium batteries in the tool market such as power tools, garden tools, household cleaning tools and two-wheeled vehicles continued to grow under the influence of the epidemic. Hengdian Dongji believes that in the long run, as the epidemic is gradually brought under control and the global economy recovers slowly, the tool market will maintain a long-term and stable growth trend. With the change of customers' consumption habits, the demand for portable energy storage will become larger and larger, and the trend of cordless and mobile will also give tools lithium batteries a vast market space.
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