On the evening of July 25th, Longbai Group (002601) announced that Henan Bailey New Energy Materials Co., Ltd. (hereinafter referred to as "Bailey New Energy"), a subsidiary of the company, intends to set up a joint venture with Hubei Wanrun New Energy Technology Co., Ltd. (hereinafter referred to as "Hubei Wanrun New Energy") to build a 100000-ton iron phosphate production line.
The joint venture is called Hubei Baili Wanrun New Energy Co., Ltd. (tentatively named) (hereinafter referred to as "Baili Wanrun"), with a registered capital of 100 million yuan, including 51 million yuan of registered capital subscribed by Baili New Energy and 49 million yuan of registered capital subscribed by Hubei Wanrun New Energy. Both parties contributed in cash.
According to the announcement, Baili Wanrun's business scope includes: lithium-ion battery materials and equipment research, development, production, sales; goods import and export, technology import and export, feed processing, three to one supplement business; general cargo transportation and so on.
The announcement said that iron phosphate as the core raw material for the production of lithium iron phosphate, there is a gap in iron phosphate production capacity due to the rapid increase in demand and production capacity of lithium iron phosphate. With the promotion of new energy technology, the application market of lithium iron phosphate battery is growing rapidly, and the precursor of lithium iron phosphate has a broad market prospect.
Longbai Group said that Hubei Wanrun New Energy has advantages in iron phosphate industrialization, technology and market. In order to seize the new energy market opportunity and increase the added value of the company's by-products such as ferrous sulfate heptahydrate, the joint venture company to build iron phosphate project can make use of the local resources and supporting facilities advantages of the cooperative parties to provide ferrous sulfate and other resources and supporting facilities services for the company's iron phosphate project nearby. While ensuring the supply of raw materials for the project, reduce the production and transportation costs of the company's products.
The data show that Longbai Group has been committed to the deep integration of titanium and zirconium industry chain and the R & D and manufacture of new materials, and is one of the few enterprises in the world with sulfuric acid process and chlorination process and industrial chain. It has initially established a high-quality industrial development system covering the fields of elements such as "titanium, zirconium, vanadium, iron, scandium".
Up to now, the titanium industry of Longbai Group has five provinces, six places and seven production bases, including Jiaozuo in Henan, Deyang in Sichuan, Panzhihua in Panzhihua, Xiangyang in Hubei, Chuxiong in Yunnan and Jinchang in Gansu Province. it has formed an industrial chain pattern from vanadium titanium magnetite mining, to reducing titanium, high titanium slag, synthetic rutile and other raw materials, to sulfuric acid titanium dioxide, chlorination titanium dioxide, titanium metal and other products. And this year to invest in the construction of an annual output of 30,000 tons of rotor-grade titanium sponge intelligent manufacturing technical renovation project. The group zirconium industry has production bases such as Shantou and Shaoguan in Guangdong, Hengyang in Hunan, Chaoyang in Liaoning and Perth in Australia, forming an industrial chain covering high-end fields such as zircon sand, zirconia oxychloride, zirconium dioxide, fused zirconium, sponge zirconium, structural ceramics and nuclear zirconium, which will be extended to electronic zirconium applications in the future.
In fact, Longbai Group has been interested in the field of batteries for a long time.
On December 8, 2020, Longbai Group issued an announcement to invest 100 million yuan to establish Baili New Energy in Jiaozuo City, Henan Province. The scope of business includes: technology development, technology transfer, technology consultation and technical services in the field of new energy technology; research and development, production and sales of electronic materials; battery manufacturing and battery sales; import and export of goods and technology; battery leasing, recycling of waste power batteries for new energy vehicles, inspection and testing services.
On March 25 this year, Longbai Group issued a capital increase announcement with its own funds to increase the capital of Bailey New Energy by 900 million yuan. After the completion of this capital increase, the registered capital of Bailey New Energy has been changed from 100 million yuan to 1 billion yuan.
On February 18, 2021, Longbai Group announced that Bailey New Energy intends to invest 300 million yuan to establish Henan Longbai New Materials Technology Co., Ltd. (tentatively named, hereinafter referred to as "Longbai New Materials") in Qinyang City, Henan Province.
The business scope of Longbai new materials includes: battery manufacturing; battery sales; research and development of electronic special materials; manufacturing of electronic special materials; sales of electronic special materials; recycling of waste power batteries for new energy vehicles (excluding hazardous waste management).
In addition to Longbai Group, at the beginning of this year, another titanium dioxide industry enterprise, China Nuclear Titanium dioxide (002145), also announced that the company would rely on the existing 100000 tons of crude titanium dioxide production capacity of Gansu Dongfang Titanium Industry Co., Ltd., a wholly-owned subsidiary, to enter the lithium iron phosphate market.
On May 24th, China Nuclear Titanium dioxide released the "2021 non-public offering A-share Plan". It is proposed that the non-public offering will not exceed 616 million shares, and the total amount of funds raised shall not exceed 7.091 billion yuan (including capital). All the net funds raised will be invested in recycling titanium dioxide deep processing projects, water-soluble monoammonium phosphate (water-soluble fertilizer) resource recycling projects, annual production of 500000 tons of iron phosphate projects and supplementary liquidity.
In the secondary market, as of today, Longbai Group closed at 31.45 yuan per share, up 0.67 yuan per share or 2.18%, with a total market capitalization of 74.809 billion yuan.
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