On the evening of September 16, Funeng Technology (688567) announced that it was proposed to raise no more than 5.2 billion yuan for high-performance power lithium battery projects and science and technology reserve funds. Among them, the total investment of high-performance power lithium battery project is about 5.256 billion yuan, which is planned to raise 4.6 billion yuan, and the total investment of science and technology reserve is about 600 million yuan.
With regard to the high-performance power lithium battery project, Funeng Technology said that it will combine the iterative evolution trend of new energy battery technology, the latest production technology of new energy battery and the upgrading needs of downstream customers, to acquire land in Sanshan Economic Development Zone of Wuhu City, Anhui Province, to build a high-performance power lithium battery project, and to purchase advanced power lithium battery production equipment to meet the company's needs through the construction of production plants and supporting facilities. After the project reaches production capacity, it will achieve the annual production capacity of 12GWh power battery system.
According to public data, Funeng Technology is one of the world's leading companies in the production of three-yuan soft package power batteries, and it is the first batch of enterprises in China to achieve mass production of three-yuan soft package power batteries. With the advantages of high energy density, good safety performance, long cycle life and excellent low temperature performance, the company has established long-term cooperation with a number of high-quality car companies at home and abroad to continue to provide high-quality power battery products to the electric vehicle platforms of Daimler, Guangzhou Automobile, Geely, TOGG, Dongfeng, Jiangling, Great Wall and other customers, covering many of the above customers' models.
Battery Network noted that since the beginning of this year, Funeng Technology has received a fixed-point notice of the LE model project of GAC-Mitsubishi Automobile Co., Ltd., to develop and supply power batteries for LE models. In addition, the company also received a "letter of intent" from Liuzhou Wuling, informing the company to become its lithium battery system assembly supplier, providing power battery systems for many of its models.
It is reported that the current production capacity of Funeng Technology has reached 13GWH, including the 5Gwh production capacity of the Ganzhou plant and the 8Gwh capacity of Zhenjiang Phase I; the Zhenjiang Phase II 8Gwh and Phase III 8Gwh projects are in progress as planned, of which Zhenjiang Phase II is expected to be put into production within this year. In addition, the Ganzhou 12GWh production base jointly built by the company and Geely Technology also held a groundbreaking ceremony on May 17th and is expected to reach production by the end of 2022 or early 2023.
However, at present, the capacity scale of Funeng technology to meet the needs of the above customers and the future downstream incremental market is still insufficient, and the power battery plant construction cycle is longer. In order to continuously follow up customers and win customer orders, the company needs the construction and layout of a new production base to improve the supply capacity of products, so as to meet the future downstream customers' demand for power batteries.
To this end, on August 29th, Funeng Science and Technology signed an investment cooperation agreement with the Management Committee of Wuhu Sanshan Economic Development District, Anhui Province. Funeng Technology plans to set up a project company in Wuhu Sanshan Economic Development District to invest in the construction of an annual 24GWh new energy battery project. According to the plan, the project will be divided into two sub-projects, and construction is scheduled to start in October 2021. The "High performance Power Lithium Battery Project" is built in Sanshan Economic Development Zone, Wuhu City, Anhui Province.
In addition to actively expanding production capacity around major customers, Funeng Technology also moves upward in advance, and the company's future shipments are more clear. According to a research report released by Western Securities, Funeng Technology is currently mainly located in the field of battery materials. The company first purchased not less than 1700 tons of lithium hexafluorophosphate from Duofuoduo, and then signed orders with Rongbai Technology for the purchase of cathode materials of 5505 tons and 30950 tons respectively, corresponding to battery shipments in the first half of 2021 and 2022, respectively, and signed a procurement framework agreement with Shanghai Shanshan on negative electrode materials. in 2021 / 2022, it purchased 3910 tons / 21530 tons of graphite from Shanghai Shanshan respectively, and the corresponding battery shipment was about 4GWhWh22GWh. in 2021 / 2022, the company signed a procurement framework agreement with Shanghai Shanshan on negative electrode materials, and then signed orders with Rongbai Technology for the purchase of cathode materials of 5505 tons and 30950 tons respectively. Sign a long-term strategic partnership with Xinlun Science and Technology to give priority to the supply of aluminum and plastic film to the company under the same conditions. Under the tense situation of lithium power supply chain, the company locks the supply of core materials in advance for the next year and a half, which shows that the company has a clear expectation of future orders and ensures the safe release of the company's future production capacity.
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