Lithium Battery Industry breaks out New third Board Enterprises stand on the tuyere

Under the background of global energy reform, new energy represented by lithium electricity is rapidly replacing traditional fossil energy and lead-acid batteries. Lithium battery is a track with high certainty of total growth in the future, and its downstream new energy vehicle industry will continue to be a hot spot in the market, and the related enterprises of the new third board will also have considerable room for development.

The outbreak of upstream industry gives birth to the establishment of subdivided enterprises.

Lithium electricity industry can be divided into general market and special market. Among them, the general market is mainly new energy vehicle batteries, standard batteries and so on. At the same time, due to the continuous progress of technology, intensified competition and large-scale benefits, the cost of lithium battery in the general market continues to reduce, the homogenization is more serious, and the price competition is very fierce.

The dedicated market is a large number of customized batteries for various industries, such as communications, power exchange, Internet of things, special vehicles and ships. Although the single market scale of dedicated lithium battery market is relatively small, but the added value is also relatively high, the prospect of lithium battery replacing the original fuel power or lead-acid battery is very broad, and lithium battery brings opportunities for large-scale application in many market segments.

Under such opportunities, early enterprises that have been established for many years have been able to "follow the wind" to reap higher profits and earnings performance because of certain technological reserves, and more subdivided companies have been set up one after another.

New third board company plus layout

There were more than 50 new energy automobile industry chain companies on the new third board. In the past two years, many companies, such as Art and Tianmai Technology, have successfully changed the board. at present, at least 40 companies are still listed on the new third board, covering automobile design, manufacturing, sales and other links. From the perspective of manufacturing, there are many enterprises involving "three electricity"-battery, motor and electronic control, especially in the field of lithium battery.

As of March 24, a total of 6 companies related to the new energy vehicle industry chain on the new third board have disclosed their performance in 2020. In terms of batteries, Yuanhang Alloy disclosed its annual report that in 2020, the operating income was 570 million yuan, an increase of 30.55% over the same period last year, and the net profit was 58.23 million yuan, an increase of 25.52% over the same period last year.

Among them, Yuanhang Alloy submitted the application materials for listing guidance to Jiangsu Securities Regulatory Bureau in September 2020 and was accepted, and the guidance institution is Minsheng Securities. It mainly develops and produces a series of precision nickel-based conductor materials, which are mainly used in lithium-ion batteries and lithium polymer batteries. Mid-and downstream products include power tools, electric vehicles, electric two-wheelers, information and communications, electronic products, special lighting, energy storage systems, coins and aerospace fields.

Today, the profitability of the ternary lithium battery sector is divided. In 2020, Beit, the world's number one lithium negative electrode company, had an operating income of 4.449 billion yuan and a net profit of 48.84 million yuan, up 1.34% and 26.7% respectively over the same period last year. The company said the main reason for the change in performance was a change in the sales price of the product, resulting in a decline in gross profit margin. It is planning to sell lithium iron phosphate assets, saying it is to withdraw funds to seize opportunities in the new energy automobile industry.

Tianli LiNeng is one of the few suppliers of both precursor and finished ternary materials in the industry. Last year, the company's operating income was 1.243 billion yuan and its net profit was 56.4895 million yuan, an increase of 22.87% and a decrease of 20.89% respectively over the same period last year. The company explained that the decline in profits was due to increased investment in research and development and impairment losses on accounts receivable.

Oriental carbon's main business is the research and development, production and sales of graphite materials for battery anode materials. The company expects to make a net profit of 31 million yuan to 33 million yuan belonging to shareholders of listed companies in 2020, an increase of 18.73% to 26.39% over the same period last year. The company explained that last year, it increased the R & D and production of new products and increased the proportion of production and sales of static pressure fine structural graphite such as high value-added graphite, so as to meet the needs of high-quality customers in downstream photovoltaic, new energy vehicles, electronic metallurgy and other fields. the company's product competitiveness and profitability continue to improve.

Newmi Technology, a battery separator supplier, changed a lot last year when it was acquired by a core subsidiary of listed company Enjie. Its annual report shows that in 2020, the company's operating income was 155 million yuan and a net loss of 221 million yuan. In the future, the company will focus on R & D and production of high-end separators for lithium-ion batteries. At present, lithium diaphragm high-end products mainly rely on imports.

Seize the opportunity of segmenting the field

However, from the success of the new third board enterprises in previous years, in fact, the new third board lithium battery enterprises do not have any advantage in power batteries.

Jiayuan Technology, a supplier of Ningde era, has successfully transferred from the new third board to Kechuangban in 2019. The company is mainly engaged in the research, production and sales of 6 ~ 12 μ m high performance electrolytic copper foils for lithium ion battery negative current collector applications and electrolytic copper foils for PCB. Ningde Times is the company's main customer, and BYD is also on the list of major customers.

Recently, it has just successfully passed Science and Technology Innovation Board IPO's Fangyuan Environmental Protection, mainly engaged in the research, development, production and sales of lithium battery ternary cathode material precursor and nickel battery cathode material, the products are mainly used in the manufacture of lithium battery and nickel battery, and finally used in new energy vehicle power battery, power tools, energy storage equipment and electronic products and other fields.

Fangyuan Environmental Protection said that the company's NCA87, NCA91 and other high-nickel ternary precursors have strong market competitiveness, and have formed good cooperative relations with domestic and foreign well-known power battery manufacturers or positive manufacturers, such as Panasonic, Betteri, Shanshan Energy, BYD, Dangsheng Technology, etc., and the sales volume of high-nickel ternary precursors has increased year by year, which is deeply integrated with the development trend of the new energy automobile industry.

Tianli LiNeng, a company listed on the new third board, is hitting the gem IPO. The company's main source of income is the sale of lithium-ion battery cathode materials, the company's main products are ternary materials. Tianli Lithium Energy currently focuses on the field of small power lithium batteries. In the field of electric bicycles and power tools lithium batteries, the company ranks first in 2019 in terms of shipments of related products. At the same time, some of the company's products have entered the new energy vehicle market, including Xingheng Power supply, Honeycomb Energy, AVIC Lithium Power, Hengdian East Magnetic, Penghui Energy and other key customers, and has formed a certain scale.

It can be seen that most enterprises are around the Ningde era, BYD power battery leading enterprises to do negative electrode materials, cathode materials, lithium battery equipment and other supporting. It is very promising for the new third board enterprises to find the right position in terms of consumer batteries, such as negative material leader Bertre, cathode material Cedar Energy and Tianli Lithium Energy, Lithium equipment company Wuhan Blue Power, Supersonic, Changhong Energy, which makes cylindrical batteries for power tools, Hengtai Technology, a soft-package battery company for wearable devices, and so on.

Facing different subdivision areas, although the scale is not as large as that of Ningde era and Yiwei Lithium Energy, it belongs to the small and beautiful type and has a good competitive advantage in the niche market. It will be favored by the secondary market and related leading enterprises in the future.