LiPF6 production capacity of Yongtai Technology in the next 3 years: solid state 8000 tons / year liquid 67000 tons / year

On February 7th, Yongtai Technology (002326) said in an interactive exchange with investors that the company has put into production of lithium hexafluorophosphate with a capacity of 8000 tons / year; VC products have been put into production of 5000 tons / year; and FEC products have been put into production with a capacity of 3000 tons / year.

It is understood that Yongtai Technology was founded in 1999 and listed in 2009, headquartered in Taizhou City, Zhejiang Province, the main production bases are distributed in Zhejiang, Jiangsu, Shandong, Fujian, Guangdong, Chongqing and Inner Mongolia. The company's main business takes fluorine-containing fine chemicals as the core, and the main products are divided into three categories according to terminal applications, including pharmaceuticals, pesticides, lithium batteries and other materials. Its traditional Chinese medicine and pesticide plate has vertically built a vertical integrated industrial chain from intermediates to APIs and preparations. Lithium electricity and other material products mainly include lithium battery materials (lithium hexafluorophosphate, lithium difluorosulfonimide, VC, FEC, etc.), fluorinated liquid crystal intermediates and so on.

Yongtai Technology expects to achieve a net profit of 280 million yuan to 420 million yuan belonging to shareholders of listed companies in 2021, an increase of 133.33% and 249.99% over the same period last year. Yongtai Technology said that the main reason for the performance growth is that the volume and price of the company's lithium materials business rose in 2021, contributing to a year-on-year increase in profits. With the rapid development of the new energy vehicle market during the reporting period, the market demand for lithium materials increased significantly, the supply of lithium hexafluorophosphate and other products produced by the company was tight, the price continued to rise, and the profit level of the products increased; at the same time, the production capacity of VC, FEC and other lithium materials products increased by the company's newly built production projects in 2021 was released, increasing the production and sales volume of the company's lithium business and becoming a new profit growth point of the company.

Battery Network also noted that in August 2021, Yongtai Technology signed a material procurement agreement with Ningde Times, which purchased lithium hexafluorophosphate, difluorosulfonimide lithium (LIFSI) and vinyl carbonate (VC) products from the company. The agreement is valid from July 31, 2021 to December 31, 2026. Within 10 days after the signing of the agreement, Ningde Times will pay the company a total of RMB600 million in advance for products based on the purchase volume of lithium hexafluorophosphate, lithium difluorosulfonimide (LIFSI) and ethylene carbonate (VC).

In addition, in order to deepen cooperation with downstream manufacturers in the field of lithium batteries, in November of the same year, Pingtan Pacific Pacific Hengtong Management Consulting Partnership (limited partnership), a subsidiary of Yongtai Technology Holdings, intends to transfer its 25% stake in Yongtai Hi-Tech to Ningde Times with 500 million yuan.

Driven by the market dividend, there are more new entrants of lithium products such as lithium hexafluorophosphate. In this regard, Yongtai Technology said that, first of all, the company has a first-mover advantage, and it takes a certain amount of time for new competitors to go from research and development, pilot test to production. The company has completed the market sales of corresponding products in the early stage, grabbed a certain market share, and has relatively stable customer resources. Secondly, the company has an advantage in product technology and cost. The company has a relatively mature production process and quality management system. In the future, the company will further improve its product technology and maintain its advantage in the market competition through continuous R & D investment and technological improvement.

According to the project construction announcement disclosed by Yongtai Technology, the main products of lithium battery materials in the next 3 years will form the following capacity scale: (1) Lithium hexafluorophosphate: 8000 tons / year solid, 67000 tons / year liquid. (2) Lithium difluorosulfonimide: 900t / an in solid state and 67000 t / year in liquid state. (3) VC:30000 tons / year. (4) FEC:8000 tons / year.

In addition, according to the future product strategy, Yongtai Technology will increase the research and development and layout of lithium battery electrolytes and additives according to the needs of downstream customers, so as to achieve horizontal full coverage of mainstream electrolyte materials. build an one-stop purchasing platform for customers.