On the evening of March 21st, Azure Lithium Core (002245) revealed its annual report for 2021. The company's operating income in 2021 was 6.68 billion yuan, an increase of 57.80 percent over the same period last year, while the net profit belonging to shareholders of listed companies was 670 million yuan, an increase of 141.09 percent over the same period last year.
Azure Lithium Core 2021 main Accounting data and Financial indicators (Unit: yuan)
Among them, the Azure lithium-core lithium battery business achieved an operating income of about 2.674 billion yuan last year, an increase of 84.8% over the same period last year. Jiangsu Tianpeng achieved a net profit of about 537 million yuan, and the net profit contribution of the lithium battery business ranked first among the company's businesses, accounting for nearly 80 per cent of the net profit belonging to shareholders of listed companies.
According to the annual report, Jiangsu Tianpeng, as the main platform for the business of blue lithium core lithium battery, has more than 10 years of R & D and manufacturing experience in the field of ternary cylindrical power battery, and has the top horizontal cylindrical lithium battery automatic production line at home and abroad. it has large-scale production capacity of cylindrical power lithium-ion batteries. The company's lithium battery products are mainly used in small power systems, especially in the field of lithium batteries for multiple power tools, and is a major supplier of small power batteries to the global supply chain of TOP4 Power tools.
According to the "White Paper on the Development of China Cylindrical Lithium Ion Battery Industry (2022)" recently released by EVTank, Ivy Economic Research Institute and China Battery Industry Research Institute, global shipments of cylindrical lithium-ion batteries reached 12.17 billion in 2021, an increase of 21.0% over the same period last year.
Azure lithium core frankly said that in 2021, affected by the superposition of the dual trend of "cordless and domestic substitution", the market demand for high-quality ternary cylindrical lithium batteries grew much faster than expected, and the growth was sustained. As the representative enterprise of high-quality products of small power lithium battery in the world, Jiangsu Tianpeng has been restricted by the bottleneck of production capacity, and capacity construction has become the top priority of the work in 2021.
In 2021, Jiangsu Tianpeng made every effort to promote the construction of the second phase of Zhangjiagang project, gradually put into production in the fourth quarter of last year, and entered the capacity climbing stage, and the output of azure lithium-core lithium batteries is expected to reach 700 million in 2022; at the same time, the company invests and distributes new lithium battery production projects in Huaian City. The first phase of the Huaian plant is also under construction as planned. at present, the plant has been capped and has entered the decoration stage. it is expected that it will be put into production in the fourth quarter of 2022, and the company's annual lithium battery production capacity will reach 1.25 billion; the construction of the second phase of the Huaian plant is also under way. In terms of customers, in 2021, Jiangsu Tianpeng has continuously strengthened mutual trust with international well-known brands such as BOSCH, Stanley Black&Decker, TTI, Makita, Metabo, EINHELL and other international well-known brands. Jiangsu Tianpeng has gradually become an important and reliable supplier, and its orders have continued to grow rapidly.
It is worth noting that in March 2022, Jiangsu Tianpeng again received the order document confirmed by Stanley Patek, and the two sides confirmed that the supply of ternary cylindrical lithium batteries from 2022 to 2024 was 120 million, 240 million and 280 million respectively. Among them, for 2022, with the agreement of both parties, it can be increased to a maximum of no more than 200 million.
Azure Lithium Core said that as the earliest tool lithium battery partner in China, Tianpeng Power and Stanley Black's three-year order will help consolidate the company's leading position in the field of high-end tool lithium battery. The release of new production capacity of Tianpeng Power Huaian Plant in 2022 will help to alleviate the company's operating state that supply exceeds demand, and provide a strong guarantee for the implementation of this order.
In addition, with the rapid growth of Jiangsu Tianpeng's business income and business performance, the investment capacity of R & D resources has also increased rapidly. Azure lithium core gradually build a perfect R & D system, enhance R & D capability, pay equal attention to basic research and key product research, while keeping track of the latest lithium battery technology. In 2021, the company has launched a series of 21700 high-rate products. At the same time, the 21700-5.0Ah high-energy and high-rate cylindrical lithium-ion battery industrialization project is under development. on the basis of meeting the 35A continuous Discharge, the volume energy density reaches 720Wh/L. Safety and reliability meet the needs of first-class customers in the international market.
Standing in 2022, Azure Lithium Core said that the company will ensure that the Zhangjiagang Phase II project is fully up to production and the Huaian Plant Phase I project is put into production in the fourth quarter, with an output of 700 million lithium batteries and an increase of more than 70% in lithium battery sales. Looking to the future, Azure Lithium Core will also further focus on the lithium battery industry, realizing the company's medium-and long-term strategic planning in three steps: the first step is to achieve the global leadership in market share, products and technology in the field of power tools applications; the second step is to achieve the global market share leadership in small power application scenarios; and the third step is to enter a broader lithium race track through a robust and pragmatic strategy.
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