The application of Henan Cologne New Energy Co., Ltd. (referred to as "Cologne Xinneng") for gem IPO was accepted on June 15, the battery network learned from the Shenzhen Stock Exchange.
In terms of battery cathode materials, Cologne Xineng has been engaged in the business of nickel cathode materials since 2004 and is a leader in the field of nickel cathode materials. Since 2007, its business has extended to the field of ternary precursors and launched the research and development of ternary cathode materials in 2009. it is one of the earlier domestic enterprises engaged in the research and development and production of products related to ternary precursors and cathode materials. it is also one of the enterprises with mass production capacity of ternary precursor materials in China.
It is proposed to raise 613 million to increase the main business.
The IPO, Cologne Xinneng plans to raise 613 million yuan to invest in the construction project of ternary precursor of high-performance power battery with an annual output of 12000 tons, the construction project of ternary cathode material of high-performance power battery with an annual capacity of 4000 tons, and the R & D center project of cathode material of high-performance power battery.
Specifically, the main body of the ternary precursor construction project with an annual output of 12000 tons of high-performance power battery is Cologne materials, with a total investment of 380 million yuan. After reaching production, it will form a high-performance ternary precursor production capacity of 12000 tons / year. Through the implementation of this project, Cologne Xinneng will expand the production capacity of ternary precursors, improve the production process, enhance product performance, and further improve market competitiveness.
The main body of the construction project of ternary cathode materials for high-performance power batteries with an annual output of 4000 tons is Cologne materials, with a total investment of 180 million yuan. After reaching production, the production capacity of high-performance ternary cathode materials will be 4000 tons / year.
The main body of the project of the R & D center of high-performance power battery cathode materials is Cologne materials, with a total investment of 53 million yuan. The company will build the R & D center into a new product development and new technology reserve base, innovative R & D platform, and at the same time introduce more senior technical personnel to further improve the company's production technology and process level, and develop new products and new technology. so as to greatly improve the company's product research and development and technological innovation capabilities.
Battery net noted that this is not the first time Cologne Xineng sprint IPO, Cologne Xineng pioneer board IPO application was accepted on September 30, 2019, but in May 2020, Cologne Xineng submitted to the Shanghai Stock Exchange to withdraw Science and Technology Innovation Board's application for listing. In addition, Taihang Power, a subsidiary of Cologne Xinneng Holdings, was listed on the national share transfer system for small and medium-sized enterprises in November 2016 and delisted in January 2018.
In terms of performance, from 2018 to 2020, Cologne Xineng's revenue was 1.559 billion yuan, 1.441 billion yuan and 1.555 billion yuan respectively, while the corresponding net profit in the same period was 44.2377 million yuan, 54.2815 million yuan and 56.0779 million yuan respectively.
Among them, the revenue of Cologne Xinneng high nickel ternary precursor products accounted for 27.84%, 93.78% and 93.66% of the sales revenue of the ternary precursor, respectively; the company's overseas sales were 510 million yuan, 650 million yuan and 572 million yuan respectively, accounting for 33.20%, 45.48% and 37.20% of the main business income, respectively. With the expansion of the company's business scale in the future, the proportion of overseas sales may further increase.
In the field of battery materials, the listed companies and proposed listed companies that can engage in the same business as Cologne are: Rongbai Technology (688005), Green Mei (002340), Dangsheng Technology (300073), Zhongwei shares (300919), Tianli Lithium Energy, long-term Lithium Division, Fangyuan shares and so on.
In terms of major customers, Cologne Xineng's ternary precursors and ternary cathode materials are mainly for domestic and foreign well-known manufacturers such as Umicor, Guoxuan Hi-Tech, Ningde Times, Laff, LGC and so on.
From 2018 to 2020, the top five customers of Cologne Xineng's Ternary precursor business accounted for 94.87%, 96.88% and 96.24% of the total revenue respectively, with a high degree of customer concentration. In 2020, the company's revenue from Umico, the largest customer of the ternary precursor, accounted for 80.27% of the current ternary precursor income, and the company has the risk of high customer concentration of the ternary precursor business.
Cologne Xinneng established a cooperative relationship with Umico in 2018 and is the largest customer of issuers in 2019 and 2020, mainly purchasing ternary precursor products from issuers, which are used downstream for automotive power batteries, energy storage and other fields.
In addition to Cologne Xinneng, on June 11, the Shanghai Stock Exchange issued the announcement of the results of the 36th review meeting of the Kechuang Board listing Committee in 2021, and Guizhou Zhenhua New Materials Co., Ltd., a manufacturer of three-yuan cathode materials, was approved for the first time. This time, IPO, Zhenhua New Materials intends to raise 1.2 billion yuan. After deducting the issuance expenses, it will invest in the lithium-ion battery cathode material production line construction project (Shawen II) (proposed to raise 650 million yuan), lithium-ion power battery ternary material production line construction (Yilong II) (proposed to raise 200 million yuan) and supplementary liquidity (proposed to raise 350 million yuan).
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