Tianji shares accounted for more than 2.253 billion of revenue in 2021, accounting for more than 80% of lithium hexafluorophosphate revenue.

On the evening of February 21, Skyline shares (002759) disclosed its annual report for 2021 that the company achieved revenue of 2.253 billion yuan in 2021, an increase of 203.24 percent over the adjusted year-on-year; net profit of 745 million yuan, a loss of 10.7799 million yuan in the same period last year, an increase of 7011.34 percent over the same period last year; basic earnings per share 1.85 yuan. The company intends to distribute a cash dividend of 3.80 yuan (including tax) to all shareholders for every 10 shares.

Main accounting data and financial indicators of Tianji shares in the past three years (unit: yuan)

In 2021, Skyline's main business is still lithium hexafluorophosphate and small household appliances, of which the proportion of lithium hexafluorophosphate in total income continues to rise, accounting for more than 80%, and the sales income of lithium battery business for the whole year is 1.89 billion yuan. The proportion of small household appliances in total income continues to decline, accounting for less than 20%.

From the market point of view, since the second half of 2020, with the rapid increase in market demand, the supply of lithium hexafluorophosphate is relatively tight. Up to now, the price of lithium hexafluorophosphate has risen from 95000 yuan / ton in November 2020 to about 550000 yuan / ton. Although many enterprises in the market have accelerated the pace of production expansion, the lithium hexafluorophosphate project has a high investment intensity and a long production expansion cycle, and it will take at least two years to improve the effective production capacity. It is expected that the supply of lithium hexafluorophosphate will fall short of demand in the next two years.

In terms of production capacity construction, in 2021, Skyline will seize the good market opportunity that lithium hexafluorophosphate is in short supply, establish an effective incentive mechanism, give full play to the enthusiasm of all employees in the chemical business sector, and pay close attention to output and quality. we should strictly control the consumption of raw materials, tap the potential of production facilities, and achieve an actual output of 9364 tons with a design capacity of 8160 tons, doubling the actual output of 4602 tons over the previous year. The net profit is the best performance of the year since the company went public. At the same time, we will actively increase the annual output of 10000 tons of lithium hexafluorophosphate project and a series of power battery additives to speed up the construction of the project. It is expected that the project will start trial production in the second quarter of 2022. After the trial production is successful, it will further enhance the company's industry position and competitive advantage. In addition, the company has set up a joint venture with important partners in the industrial chain to set up a new company with an annual output of 30000 tons of lithium hexafluorophosphate and other important chemical products, which will open up a new space for the company's future development. at present, the project is in the early stage of preparation and is actively under way.

In terms of customer development, Skyline has a high-quality customer base and has signed long-term sales contracts with many large strategic customers, including Jiangsu Cathay Pacific and BYD, and has sufficient capacity digestion guarantee in the short term. In the long run, the company's customers are of high quality and have stable cooperation with the company. It is expected that with the rapid development of the industry in the future, the broad market growth space will provide a guarantee for the company's capacity digestion in the future.

In terms of R & D investment, Skyline has always attached great importance to R & D work. After years of R & D investment and technology accumulation, the company's lithium materials business has accumulated strong R & D capabilities of new products and forward-looking technologies. The company has invested more than 65 million yuan in research and development of lithium materials in 2021. New energy vehicle lithium battery requires high purity of lithium hexafluorophosphate. With the continuous efforts of the R & D team, the company has mastered the purification process required for the industrial production of lithium hexafluorophosphate to ensure that the purity of the product reaches 99.99%. Through the study of the effect of ultrasonic on the crystallization process of lithium hexafluorophosphate, the suitable process conditions are obtained, which significantly improves the purity of the product, and makes the product particles uniform, particle size distribution concentrated and crystal form regular. At the same time, the company also attaches importance to industry-university-research cooperation with universities, and actively carries out cooperative research and development with Southeast University, Suzhou University, Changzhou University, Changshu Institute of Technology and other universities.