1.954 billion! Yiwei Lithium can join hands with SKI and Betteri to produce High Nickel Ternary cathode Materials

After denying the "supply Tesla", on the evening of May 17th, Yiwei LiNeng (300014) once again released important news: the 29th meeting of the fifth board of directors held on May 17th, 2021, examined and passed the "bill on the proposed joint venture between subsidiary Yiwei Asia and Beitre and SKI." Yiwei Asia Co., Ltd. (Yiwei Asia), a wholly-owned subsidiary of Yiwei LiNeng, plans to increase its capital with Bertre (Jiangsu) New Materials Technology Co., Ltd. (hereinafter referred to as "SK innovation Co., Ltd (SK Innovation Co., Ltd.") and SK innovation Co., Ltd (SK Innovation Co., Ltd. (referred to as "SKI") to Bertra subsidiary Changzhou Beit New Materials Technology Co., Ltd. (referred to as "Target Company" and "Joint Venture"). The joint venture company plans to increase its registered capital from the current 5 million yuan to 1.954 billion yuan.

Specifically, Beitri (835185) contributed RMB 997 million in cash, accounting for 51% of the registered capital of the joint venture company, accounting for 51% of the registered capital of the joint venture company, accounting for 489 million yuan in cash, accounting for 25% of the registered capital of the joint venture company. Yiwei Asia contributed RMB 469 million yuan in cash, accounting for 24% of the registered capital of the joint venture company. The annual output of the joint venture company is designed and built on the basis of a maximum of 50,000 tons of high nickel ternary cathode materials for lithium batteries.

Yiwei LiNeng said that Yiwei Asia's joint venture with Bertre and SKI aims to ensure the production capacity and quality of the high-nickel ternary cathode materials for lithium batteries of the joint venture company by combining the advantages of technical research, market development and management of all parties, so that the three parties can gain economic benefits. At the same time, this investment also helps to strengthen the cooperative relationship between all parties, lays a good foundation for deep-seated cooperation in the future, and is of positive significance for the company to open up the upstream industrial chain and optimize the industrial layout. help to improve the stability of the company's supply chain and reduce the adverse impact of raw material price fluctuations on the company.

The battery network also noted that in the first quarter of this year, Yiwei Lithium could achieve an operating income of 2.958 billion yuan, an increase of 125.98 percent over the same period last year, while the net profit belonging to shareholders of listed companies was 647 million yuan, an increase of 156.22 percent over the same period last year. Among them, the company's power battery sales increased by 302.21% compared with the same period last year, mainly due to sufficient orders for soft-bag ternary batteries used in passenger cars and stable delivery.

In addition to ternary materials, Yiwei Lithium Energy has also invested heavily in lithium iron phosphate this year: on the morning of March 31st, the opening ceremony of the "annual production base project of 100000 tons of lithium iron phosphate" jointly built by German Nano and Yiwei Lithium Energy was held in Qujing Economic Development Zone. Before the opening ceremony, the German Nano and Qujing Economic Development Zone signed an annual production base project of 150000 tons of lithium iron phosphate. After the signing of the contract, the opening ceremony of the production project with an annual output of 100000 tons of lithium iron phosphate was held immediately, and the investment estimate of the project was about 2 billion yuan.

In addition, on May 17, Beit's parent company, China Baoan (000009), also announced that the company's subsidiary Tianjin Beitre New Energy Technology Co., Ltd. ("Tianjin Beitre") plans to invest in the construction of a lithium anode material project with an annual production capacity of 40, 000 tons in its existing plant, with a total planned investment of about 762 million yuan, which is expected to be put into production in the first half of 2022.

China Baoan said that the investment "Tianjin Beitre 40,000 t / a lithium anode material construction project" is to break through the capacity bottleneck of the existing production line and meet customer demand for anode materials. to further enhance the market competitiveness of Beitri's anode materials business.