Far East shares won the bid and signed orders from January to May: lithium battery 1.179 billion lithium copper foil 172 million

On the evening of June 1st, far East Co., Ltd. (600869) issued a reminder of the bid-winning project of its subsidiary: from May 1, 2021 to May 31, 2021, the company received contract orders of more than 10 million yuan from subsidiary companies totaling RMB 1.129 billion. Among them, Jiangxi far East Battery Co., Ltd. (smart battery) signed a lithium battery contract price of 35.5858 million yuan, Shengda Electric Co., Ltd. (far East Co., Ltd.) signed a lithium copper foil contract price of 31.9913 million yuan.

The Battery Network noted that in April this year, Jiangxi far East Battery had two lithium battery orders with a total amount of 86.1054 million yuan; Shengda Electric Lithium Copper foil order amount of 31.9992 million yuan; March, Jiangxi far East Battery Lithium Battery order amount of 143.22 million yuan, Shengda Electric Lithium Copper foil order amount of 35.0776 million yuan, according to the announcement of winning the bid / contract issued by far East Co., Ltd. in April this year, Jiangxi far East Battery had two lithium battery orders with a total amount of 86.1054 million yuan. In February, Shengda Electric Lithium Copper foil orders totaled 33.0243 million yuan; in January, Jiangxi far East batteries had two lithium battery orders, totaling 914.1566 million yuan; and Shengda Electric Lithium Copper foil orders totaled 39.55 million yuan.

To sum up, from January to May this year, far East shares won the bid / signed lithium battery orders totaling about 1.179 billion yuan, lithium copper foil orders about 172 million yuan.

According to public data, in 2015, far East Co., Ltd. acquired Jiangxi Foster New Energy Group Co., Ltd. (now renamed Jiangxi far East Battery Co., Ltd.) to enter the lithium battery and new energy vehicle industry chain, while laying out energy storage business. The company adheres to the cylindrical cell with high safety and durability to meet the needs of light travel market leading customers, and has now become a high-quality supplier for light travel market leaders such as Mavericks and Nanbo. In January 2021, the company won a three-year order contract for 150 million units of Mavericks from 2021 to 2023, which is expected to generate operating income of not less than 900 million yuan. In the third quarter of 2020, the company began to supply Nambo in bulk, and won the Best delivery Award of No. 9 Co., Ltd.

In the first quarter of this year, in terms of smart battery business, far East shares achieved an operating income of 312 million yuan, an increase of 267.91% over the same period last year, and a net profit of-47 million yuan, an increase of 65.51% over the same period last year and a loss reduction of 89 million yuan over the same period last year. Among them, the operating income of lithium copper foil business was 151 million yuan, an increase of 189.60% over the same period last year, and net profit was 20 million yuan, an increase of 1361.51% over the same period last year. The second phase of the 7500-ton 4.5-micron ultra-thin copper foil project is under installation and commissioning, and is expected to reach production in the second quarter, and its advantages are further expanded.

In addition, on April 25, far East shares announced that they planned to invest in the construction of a far East Intelligent Industrial Park in Nanxi Economic Development District, Sanjiang New District, Yibin, Sichuan Province, with a total investment of about 6 billion yuan, and a registered legal entity company in Yibin with a total registered capital of not less than 500 million yuan. A production scale project with a total of 215000 kilometers of intelligent cables, 2.1 million kilometers of insulated wires and an annual output of 50, 000 tons of high-precision copper foil will be built to further expand the production capacity of wires, cables and copper foil.

A few days ago, far East Co., Ltd. has completed the industrial and commercial registration of the project company, and established far East Cable (Yibin) Co., Ltd., far East Electric (Yibin) Co., Ltd. And far East Copper foil (Yibin) Co., Ltd.