On August 27th, Dragon Technology (603906) announced that the company plans to issue shares in a non-public offering, raising no more than 2.2 billion yuan. After deducting the issuance expenses, it will invest in large-scale production projects of positive materials for new energy vehicle power and energy storage batteries, annual production of 600000 tons of urea for vehicles and supplementary liquidity projects.
Among them, the total investment in the large-scale production project of new energy vehicle power and energy storage battery cathode materials is 2.518 billion yuan, of which the amount of funds to be raised is 1.29 billion yuan. It is estimated that after reaching production, the average annual operating income of the project is 6.75 billion yuan, and the average annual net profit is 497 million yuan. The economic benefit of the project is good.
It is understood that in the face of the continuous growth of the global lithium iron phosphate battery market, enterprises in the same industry are actively expanding production to meet the market demand. At the same time, some chemical enterprises have also begun to cross-border layout and join the market competition of lithium iron phosphate materials.
With good stability, excellent performance and outstanding performance-to-price advantages, the existing lithium iron phosphate products of Longyi Technology have been recognized by many industry leading enterprises, such as Ningde Times, BYD, Yiwei Lithium Energy, etc., and have a high market share. The implementation of this project will help the company to meet the growing needs of customers, better serve high-quality customers, maintain a long-term and close strategic cooperative relationship with them, and at the same time help the company to expand its existing production capacity and consolidate its market share. Maintain the dominant position of the industry.
In terms of performance, Longyi Technology's operating income in the first half of this year was about 1.276 billion yuan, an increase of 55.67% over the same period last year; the net profit belonging to shareholders of listed companies was about 146 million yuan, an increase of 60.89% over the same period last year. In the first half of the year, the company's main product lithium iron phosphate sales volume of 2831.58 tons, operating income of 130 million yuan.
On June 11 this year, Longyi Technology completed the equity delivery and industrial and commercial change of Bertre (Tianjin) Nanomaterials Manufacturing Co., Ltd. And Jiangsu Betteri Nano Technology Co., Ltd., the above-mentioned target company has since become a wholly-owned subsidiary of Changzhou Liyuan and the controlling grandson of Longyi Technology. According to the agreement, the target company will be included in the scope of the company's consolidated statement in June 2021, and the company's semi-annual report in 2021 will be merged into Changzhou Lithium Source net profit of 17.8845 million yuan.
On August 17, Changzhou Liyuan, a subsidiary of Longyi Technology Holdings, plans to sign the Investment Cooperation Agreement on Iron Phosphate Project with Xinyangfeng Agricultural Science and Technology Co., Ltd. plans to jointly invest 200 million yuan to set up a joint venture company Hubei Fengli New Energy Technology Co., Ltd. (tentative name, final name is subject to the approval document of the industrial and commercial registration authority), Changzhou Liyuan plans to contribute 80 million yuan. Hold a 40% stake in the underlying company. The two sides agreed that the joint venture company would invest in the construction of a 50,000 ton / year iron phosphate project.
Guojin Securities Research report shows that after the acquisition of Bertre by Longji Technology, the layout in the field of lithium iron phosphate business has been accelerated, benefiting from the demand for new energy vehicles and the broad development space of the energy storage market, lithium iron phosphate has a very large market application space. As one of the leading enterprises of lithium iron phosphate, the company needs to continuously optimize its capacity layout and competitiveness, seize industry opportunities and achieve sustained business growth. In the production of lithium iron phosphate, the cost of raw materials accounts for more than 70%, in which iron phosphate precursor is one of the key raw materials to optimize cost and ensure product quality. This time, the company cooperates with Xin Yangfeng in the layout of 50,000 tons of lithium iron phosphate project, which is expected to form certain advantages in the supply of raw materials, combined with the advantages of upstream phosphorus chemical enterprises in technology and industrial chain, and the company's accumulation in technology and product applications. form the joint force of the industrial chain, deepen the layout of the company's lithium iron phosphate industrial chain, and partially reduce the cost of raw materials.
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