Lithium battery structure sales continue to be strong Kodali is expected to make a net profit of more than 190 million yuan in the first half of the year.

After trading on April 22, Kodali (002850) released the first quarter report of 2021, saying that the company's revenue from January to March was 800 million yuan, an increase of 169.95% over the same period last year; the net profit belonging to shareholders of listed companies was 87.4991 million yuan, up 473.69% from the same period last year.

It is reported that Kodali is a leading R & D and manufacturer of precision lithium battery structures and automotive structures in China, especially in the field of power lithium battery precision structures used in new energy vehicles. The company has outstanding R & D technical strength and has formed a large production and sales scale. The company's lithium battery structure products achieved revenue of 1.878 billion yuan last year, accounting for 94.62% of the annual revenue.

Kodali said that the company's performance increased greatly in the first quarter of this year, mainly due to domestic leading manufacturers such as CATL, AVIC Lithium, Yiwei Lithium, Xinwanda, BYD, Lishen, Ripu Energy, as well as foreign well-known customers such as LG, Panasonic, Tesla, Northvolt, Samsung, Foggia and so on.

In addition, Kodali expects that the company's net profit belonging to shareholders of listed companies in the first half of this year will reach 190 million yuan to 220 million yuan, an increase of 306.05% Mui 370.17% over the same period last year. The company's performance is expected to increase greatly, mainly due to the fact that sales of precision structural components of power batteries will continue to be strong in the second quarter, and the profitability of the main business has greatly improved compared with the same period last year.

Battery Network noted that since the beginning of this year, Kodali has adhered to the strategy of positioning high-end market and major customers, and continued to expand market share:

On February 4th, Kodali announced that in order to further improve the company's production capacity layout and meet the supporting needs of customers, combined with the industry development trend and the company's strategic planning, the company plans to invest and set up a wholly-owned subsidiary in Yibin City, Sichuan Province, and invest no more than 1 billion yuan in its own capital to build the precision structure project of Kodali Sichuan Yibin New Energy Power Lithium Battery. The construction of the project is divided into two phases. The first phase of the project will take no more than 18 months from the start of construction. The second phase of the project is scheduled to be completed within 18 months after the first phase is put into production. After reaching production, the annual output value of the project will be about 2 billion yuan.

On February 26th, Kodali announced that the company intends to invest no more than 520 million yuan in the construction of lithium battery precision structure industry headquarters and R & D base project in Luhu area, Guanhu Street, Longhua District, Shenzhen City. The land area of the project is about 6063 square meters, the construction area is about 36383 square meters, and the construction period is about 36 months. after reaching production, the annual output value of the project will be about 1 billion yuan.

On March 26th, Kodali announced that the company intends to use its own capital of no more than 225 million yuan to implement the third phase of Huizhou power lithium battery precision structure project through Huizhou Kodali Precision Industry Co., Ltd., a wholly-owned subsidiary. The land area is about 9432 square meters and the construction period is 18 months. After reaching production, the annual output value of the project will be about 490 million yuan.

According to a research report released by Minsheng Securities, Kodali is currently under construction in Jiangsu, Dalian, and Fujian, and will support LG, Panasonic and CATL, nearby, as well as German, Swedish, Hungarian, Sichuan, and Huizhou bases under planning, and are expected to match German CATL, Northvolt, SDI, domestic CATL and Yiwei LiNeng respectively. The company has an effective output value of more than 4 billion this year, and will release production capacity on a large scale after that, with a target production capacity of 10 billion yuan by 2025.