Pay 100 million in advance! Another power battery giant orders no more than 2.5 billion lithium battery diaphragm

In 2021, the phenomenon of prepayment locking in the battery new energy industry chain is obvious. in terms of lithium materials, in May, Ningde era paid 675 million yuan in advance to snap up the heaven-sent material lithium hexafluorophosphate; in December, Ningde Times intends to make an advance payment of 350 million yuan for the construction capacity of lithium sources in Shandong Province. In terms of power batteries, in December, Funeng Technology received about 1.05 billion advance payment from Mercedes-Benz; in the same month, Guoxuan Hi-Tech received a phased advance payment from a large listed car company in the United States to support the construction of a plant in the United States.

In 2022, this trend continues.

On the evening of January 19th, Enjie (002812) announced that the company's holding subsidiary Shanghai Enjie New Materials Technology Co., Ltd. (referred to as "Shanghai Enjie") and China Chuangxin Aviation Technology Co., Ltd. (hereinafter referred to as "China New Airlines") signed the 2022 guarantee and supply Framework Agreement in Shanghai. In order to ensure the stability of Sinochem's procurement and Shanghai Enjie's supply, Sinotrans promised to purchase from Shanghai Enjie in 2022. And Shanghai Enjie promised to supply no more than 2.5 billion yuan of lithium battery isolation film to Sinotrans, and China Innovation Airlines made an advance payment of 100 million yuan to Shanghai Enjie.

Battery Network noted that on December 22, 2021, Enjie also received an advance order from Ningde era, the leading power battery leader, to pay a total of RMB 850 million to Shanghai Enjie. Used to ensure that Shanghai Enjie supplies power battery wet diaphragm (base membrane and coated membrane) to Ningde Times and its subordinate companies in 2022, excluding tax, the total amount is about 5.178 billion yuan.

In addition, this month, Shanghai Enjie signed a production and pricing contract for lithium battery isolation membrane products with a large overseas car company, agreeing that Shanghai Enjie and its subsidiaries will guarantee that the supply quantity will not exceed 1.65 billion square meters in 2022-2024. starting from 2025, Shanghai Enjie and its subsidiaries will guarantee that the supply quantity will not exceed 900 million square meters per year. The actual purchase quantity shall be subject to the purchase order issued by the cooperative customer and its authorized party, and the sales price shall be carried out according to the price agreed upon in the agreement.

In terms of capacity improvement, Enjie shares plan to build a total of 3.2 billion square meters of lithium diaphragm, 280 million square meters of aluminum-plastic membrane and 200 million square meters of coated film production capacity in Chongqing, Jiangsu Changzhou and Suzhou, steadily expanding the production capacity of lithium diaphragm while expanding the product line of lithium diaphragm to create new performance growth points. The company is also actively arranging overseas business, and plans to build 4 fully automatic imported film production lines and more than 30 coating production lines in the Hungarian base. The overall annual production capacity of the project is about 400 million square meters, and mass production is expected to be achieved in 2023.

In terms of customer cooperation, Enjie has successfully entered the supply chain system of large battery manufacturers such as Ningde era, LG Chem, Panasonic, Samsung, Guoxuan Hi-Tech and so on. The company is constantly strengthening its own strength to match the future development needs of downstream customers, and the ability to undertake large-scale orders continues to improve. Previously, the company has signed cooperation agreements with Yiwei LiNeng and Ningde Times, and plans to set up joint ventures with them to build 1.6 billion square meters of wet lithium diaphragm and coated membrane projects and 3.6 billion flat wet / dry diaphragm projects respectively.

In 2021, benefiting from Enjie's continued improvement in wet lithium battery separator production capacity, continuous consolidation of competitive advantage, and the company's tight grasp of the industry development opportunities of lithium battery separator business, the company continued to open up markets at home and abroad, the output and sales volume of wet lithium battery separator continued to grow steadily, the superposition company further strengthened its internal management, effectively improved the efficiency of operation management, reduced costs and increased efficiency, and the company's overall profit level was significantly improved.

In terms of performance, Enjie shares are expected to achieve a net profit of 2.66 billion yuan to 2.76 billion yuan attributable to shareholders of listed companies in 2021, an increase of 138.44% to 147.40% over the same period last year. It is estimated that net profit attributable to shareholders of listed companies after deducting non-recurrent profits and losses is 2.557 billion yuan to 2.657 billion yuan, an increase of 158.15% to 168.25% over the same period last year. Basic earnings per share is expected to be 2.98 yuan per share-3.09 yuan per share.