Iron phosphate is the core raw material in the production of lithium iron phosphate. At present, due to the rapid increase in demand and production capacity of lithium iron phosphate, there is a gap in the production capacity of iron phosphate. With the promotion of new energy technology, the application market of lithium iron phosphate battery is growing rapidly, and the precursor of lithium iron phosphate has a broad market prospect.
Recently, a number of industry leading enterprises have spent a lot of money to enter the field of lithium iron phosphate.
Chemical leader Xin Yangfeng 3 billion cut in
On the evening of August 17th, New Yangfeng (000902) disclosed the announcement on Investment in the Construction of 200000 tons of Iron Phosphate and its Upstream supporting projects and the announcement on the Establishment of a Joint Venture with Changzhou Liyuan New Energy Technology Co., Ltd.
According to the announcement, Xinyangfeng plans to invest in the construction of 200000 tons of iron phosphate and related supporting projects, with a total planned investment of RMB 25-3 billion yuan. The project is divided into two phases, with the first phase of 50,000 tons of iron phosphate per year, which is expected to be completed and put into production in February 2022. The second phase of 150000 tons of iron phosphate and supporting 1.5 million tons / year mineral processing, 300000 tons / year pyrite sulphuric acid, 400000 tons / year sulfur sulphuric acid, 200000 tons / year phosphoric acid, 300000 tons / year slag acid comprehensive utilization and 1 million tons / year phosphogypsum comprehensive utilization project, it is expected to be completed and put into production in December 2022.
According to the project implementation schedule, Xinyangfeng plans to jointly invest with Changzhou Liyuan New Energy Technology Co., Ltd. (hereinafter referred to as "Changzhou Liyuan") to set up a joint venture company, the first phase of 50,000 tons / year iron phosphate project will be specifically implemented by the joint venture company. The joint venture has a registered capital of 200 million yuan, Xin Yangfeng contributed 120 million yuan, with a 60% stake, and Changzhou Liyuan contributed 80 million yuan with a 40% stake.
The establishment of the joint venture company marks the official entry of New Yangfeng into the lithium battery industry.
Data show that Xin Yangfeng is one of the leading enterprises in China's phosphorus chemical industry, with a production capacity of 1.8 million tons of monoammonium phosphate (including 150000 tons of industrial grade monoammonium phosphate), ranking first in the country. At the same time, the company has phosphate rock assets with a design capacity of 900000 tons / year, which fundamentally forms the "resource support". Not only that, its parent company Yangfeng Group has nearly 500 million tons of phosphate rock resources, and related phosphate rock assets will be gradually injected into listed companies in the future.
In addition to the parent company Yangfeng Group, which is rich in phosphate rock resources, Xin Yangfeng itself is also expanding its resource reserves.
On July 24th, New Yangfeng announced that the company intends to use its own capital of 97.9492 million yuan to acquire 100% stake in Leibo Xin Yangfeng Mining Co., Ltd. (hereinafter referred to as "Leibo Mining"). After the completion of the acquisition, Leibo Mining will become a wholly owned subsidiary of the company.
It is reported that Leibo Mining holds the mining rights of the Bagu Phosphate Mine in Leibo County, with a mining scale of 900000 tons per year. This also means that Xin Yangfeng will indirectly acquire the mining rights of the Bagu Phosphate Mine through Leibo Mining. At the same time, at present, Xin Yangfeng has a production capacity of 500000 tons of monoammonium phosphate in Leibo area. after the completion of the acquisition, mono-ammonium and phosphate rock in Leibo area is expected to achieve integrated mineralization processing.
The industrial chain of lithium iron phosphate battery is: phosphate rock-industrial grade phosphoric acid / monoammonium phosphate-iron phosphate-lithium iron phosphate positive electrode-iron lithium battery. It can be predicted that iron phosphate as the precursor of lithium iron phosphate, in the face of downstream high-speed expansion demand, it is easy to face short-term supply and capacity shortage.
Xinyangfeng has obvious cost advantage and industry coordination advantage in the process of promoting iron phosphate products by virtue of its rich phosphate rock resources, complete phosphorus chemical industry integration industry chain and industry operation accumulation for many years.
More importantly, sitting on phosphate rock + monoammonium phosphate is double beneficial to the optimal development of Xin Yangfeng industrial chain. In addition, with the gradual injection of phosphate ore resources from the parent company and Leibo Mining in the future, the main business can be fed back and the production cost of monoammonium phosphate can be further reduced, and the overall profitability will continue to be enhanced.
On the same day that the above iron phosphate project was released, New Yangfeng released the "2021 semi-annual report". In the first half of the year, the company realized operating income of about 6.704 billion yuan, an increase of 24.64 percent over the same period last year, and the net profit of shareholders belonging to listed companies was about 701 million yuan, an increase of 39.29 percent over the same period last year.
It is worth mentioning that Changzhou Lithium Source, the partner of New Yangfeng to enter the field of lithium iron phosphate, is the holding subsidiary of Longyi Technology (603906). Dragon Technology is mainly engaged in fine chemicals, its industry covers lubricating oil grease, vehicle environmental protection urea, vehicle care products, intelligent equipment, hydrogen energy, lithium materials and other fields, a total of 11 product series.
Among them, the field of lithium materials is the industrial expansion of Dragon Technology, which began to enter in 2020, and quickly launched a strategic layout.
On October 9, 2020, Longyi Science and Technology successfully signed an investment agreement with the people's Government of Pengxi County on the project of high-performance lithium battery materials and engine exhaust treatment liquid. The total investment of the project is 800 million yuan, mainly for the construction of high-performance lithium iron phosphate battery materials, ternary cathode materials, negative electrode materials and engine exhaust treatment liquids. After completion, the annual output value is expected to reach 2.2 billion yuan, and the annual tax revenue is expected to reach 110 million yuan.
On December 26, 2020, Longyi Technology acquired the assets and businesses related to lithium iron phosphate within the scope of the consolidated statements of Beitre, and Bertre agreed to acquire the above-mentioned underlying assets and businesses.
On April 24, 2021, Longyi Technology announced that Changzhou Liyuan, the company's holding subsidiary, plans to acquire 100% equity interest in Beit Rui (Tianjin) Nanomaterials Manufacturing Co., Ltd for 329 million yuan in cash; it is proposed to acquire 100% equity interest in Jiangsu Beit Nano Technology Co., Ltd. with 516 million yuan in cash. The relevant registration procedures for the equity transfer of the above-mentioned companies were completed in June.
In addition, Jiangsu Lithium Source Battery material Co., Ltd., a wholly owned subsidiary of Longyi Technology, will build a production base of 60,000 tons of lithium iron phosphate battery materials in Sichuan in 2021.
The return of the King of Lithium Iron Phosphate Battery
The "war" between lithium iron phosphate battery and ternary battery has never stopped, and the competition is becoming more and more anxious. The latest data show that lithium iron phosphate battery "counterattack" success, output, loading are ahead of the ternary battery!
According to data from the China Automotive Power Battery Industry Innovation Alliance, in July 2021, domestic ternary battery production was 8GWH, accounting for 46% of the total output, up 144% from the same period last year and 8.6% from the previous year; lithium iron phosphate battery output was 9.3GWH, accounting for 53.8% of the total output, up 236.2% from the same period last year and 20% from the previous year.
In terms of production, in fact, lithium iron phosphate batteries achieved the reverse super of ternary batteries in May. In that month, the output of lithium iron phosphate battery was 8.8 GWH, accounting for 63.6% of the total output, and the output of ternary battery was 5.0 GWH, accounting for 36.2% of the total output. This is the first time in nearly three years that the output of lithium iron phosphate batteries in a single month has exceeded that of ternary batteries.
Until June, the output of lithium iron phosphate battery remained in the lead of ternary battery. In that month, the output of lithium iron phosphate battery was 7.8GWH, accounting for 51.2% of the total output, and the output of ternary battery was 7.4GWH, accounting for 48.4% of the total output.
Due to the latest July, lithium iron phosphate battery production continues to take the lead, this is the third month in a row that the output of lithium iron phosphate battery exceeds that of ternary battery.
In terms of loading capacity, 5.5 GWhs were loaded with ternary batteries in China in July 2021, up 67.5 percent from the same period last year, down 8.2 percent from the previous month; lithium iron phosphate batteries totaled 5.8 GWhs, up 235.5 percent from the same period last year and 13.4 percent from the previous month.
It is worth noting that this is the first time that lithium iron phosphate battery is ahead of ternary battery in terms of loading capacity.
Looking forward to the future, restricted by cost, and the high nickel technology route of ternary battery has not yet made a breakthrough, lithium iron phosphate battery will still be strong in the short term.
Titanium dioxide leader 15.3 billion investment
The hot market of lithium iron phosphate battery has also attracted crazy investment from the two leading players in the titanium dioxide industry.
On August 12, Longbai Group issued two investment announcements for lithium iron phosphate battery projects.
The announcement on the investment and construction of the industrialization project of lithium-ion battery materials with an annual output of 200000 tons shows that in order to seize the development opportunity of new energy lithium iron phosphate batteries, Henan Longbai New material Technology Co., Ltd., a wholly owned subsidiary of the company, plans to invest 2 billion yuan to build an industrialization project with an annual output of 200000 tons of lithium-ion battery materials.
The announcement on investing in the construction of a battery material grade iron phosphate project with an annual capacity of 200000 tons shows that in order to seize the development opportunity of new energy lithium iron phosphate batteries, Henan Baili New Energy Materials Co., Ltd., a wholly owned subsidiary of the company, plans to invest 1.2 billion yuan to build an annual battery material grade iron phosphate project with an annual production capacity of 200000 tons.
In addition to Longbai Group, on February 4 this year, another titanium dioxide industry leader, Nuclear Titanium dioxide (002145), also announced that the company intends to build an annual lithium iron phosphate project with an annual production capacity of 500000 tons through wholly-owned subsidiary Dongfang Titanium Industry, with an estimated total investment of 12.108 billion yuan.
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