On March 16, Zhongtian Xineng (870309) recently released its 2021 annual report that the company's operating income in 2021 was 178 million yuan, an increase of 36.15% over the same period last year, of which the operating income of lithium manganate was 138 million yuan, an increase of 7.29% over the same period last year. The company's net profit was 33.5248 million yuan, an increase of 110.85% over the same period last year; and basic earnings per share was 0.62 yuan.
The data show that Zhongtianxin can provide lithium-ion battery cathode material lithium manganate for lithium-ion battery manufacturers, and the income mainly comes from the sales of the company's product lithium manganate. This material is mainly used in consumer electronic products and power bicycles, power tools and other power lithium-ion batteries.
In 2021, Zhongtian Xinneng spent 9.4532 million yuan on R & D, an increase of 6.2404 million yuan or 194.23% over the same period last year, mainly due to increased investment in research and development of new lithium manganate products in 2021 to improve the company's market competitiveness. Five new R & D projects were added in 2021, resulting in an increase of 5.9104 million yuan in material consumption and 341700 yuan in wages over the same period last year.
In order to optimize and improve the cycle, capacity, magnification and high temperature performance of existing lithium manganate, Zhongtian Xinneng's new R & D projects in 2021: research and development of high-pressure and high-temperature-resistant lithium manganate, research and development of large single crystal high-rate and long-life lithium manganate, 4.4V high voltage long-life lithium manganate, research and development of lithium-rich manganese-based composite cathode materials with high gram ratio, research and development of coated lithium manganate for power batteries. It was studied and improved by means of cationic phase doping modification, self-made nano-scale mixed additives, sintering process, different coating materials and so on. The synthesized lithium manganate composite has the following properties: the initial capacity of the synthesized lithium manganate composite is greater than 140m at 45 ℃, the capacity retention rate of 1000 cycles is more than 80%, the compaction density is increased from 2.9g/cm3 to 3.4g pound cm3, the stability of the structure is enhanced, the particle morphology is optimized, and the large single crystal lithium manganate cathode material with good cycle stability and high rate performance is prepared. The high-end power lithium manganate increases the product voltage to 4.4V and increases the cycle life at room temperature to 2000 cycles at 0.7V and 4.4V, which can greatly improve the current battery performance, and the layered lithium-rich manganese-based composite cathode material with high specific capacity and high voltage can effectively improve the energy density of the battery. Greatly improve the structural stability, rate performance and cycle life of the product, so that it can be used in electric bicycles and electric vehicles.
The global new energy vehicle market is in the resonance upward stage, and the permeability continues to increase, driving the lithium battery industry chain to maintain a high boom. In terms of the world's largest Chinese market, China Automobile Association data show that in 2021, China's new energy vehicle sales completed 3.521 million, a year-on-year increase of 1.6 times, ranking first in the world for seven consecutive years. From January to February 2022, the production and sales of new energy vehicles in China completed 820000 and 765000 respectively, an increase of 1.6 times and 1.5 times respectively over the same period last year, with a market share of 17.9%.
In 2021, new energy vehicles started a new round of business cycle, and still maintain a very exuberant heat. And the installed capacity of power batteries is also accelerating. With the rapid growth of production and sales of new energy vehicles and power batteries, the demand for upstream raw materials has increased sharply. Lithium materials, in particular, increased nearly 10 times. According to the forecast of Cinda Securities, by 2025, the actual global demand for lithium hydroxide for power batteries will reach 580000 tons (corresponding to 510000 tons of lithium carbonate equivalent LCE),). It is also estimated that by 2025 the total global demand for lithium will reach 1.36 million tons of LCE, of which the total demand for power batteries will be 1.1 million tons of LCE.
Wu Hui, general manager of the Research Department of Yiwei Economic Research Institute and director of China Battery Industry Research Institute, predicts that the global demand for lithium carbonate for lithium batteries will reach 1.21 million tons in 2025 and 3.104 million tons in 2030. The average annual demand for lithium carbonate in traditional industries is about 120000 tons. On the supply side, it is estimated that the global effective supply of lithium carbonate will be about 1.2 million tons in 2025, so lithium carbonate resources will be in a tight balance in the next five years. The market will meet the growth of downstream demand by increasing effective supply.
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