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Proposed 580 million plus lithium battery materials business Fengyuan shares increased revenue by 70% in the first three quarters
Oct 22,2019 15:06CST
translation
Source:SMM
On October 21, Fengyuan Co., Ltd., a wholly owned subsidiary of Shandong Fengyuan Lithium Energy Technology Co., Ltd. (hereinafter referred to as "Fengyuan Lithium Energy"), plans to implement a high nickel ternary material project with an annual output of 10000 tons of lithium ion batteries, with a total investment of about 585 million yuan.
The content below was translated by Tencent automatically for reference.

SMM10 22: October 21, Fengyuan share announcement, a wholly-owned subsidiary Shandong Fengyuan Lithium Energy Technology Co., Ltd. (hereinafter referred to as "Fengyuan Lithium Energy") plans to implement an annual production of 10000 tons of lithium ion battery high nickel ternary material project, the total investment is expected to be about 585 million yuan.

Since 2019, Fengyuan has made great efforts to enter the lithium battery materials industry. In the first half of this year, the company realized operating income of 214 million yuan, an increase of 56.70% over the same period last year, of which the operating income of lithium battery cathode materials alone reached 96.8463 million yuan, accounting for 45.36% of the total revenue.

If all the lithium battery projects invested in this investment can be put into operation, the total production capacity of Fengyuan ternary materials will reach 15000 tons per year, with an average annual sales income of about 2 billion yuan and a net profit of about 200 million yuan.

On October 21, Fengyuan shares announced that Fengyuan Lithium Energy, a wholly owned subsidiary, plans to implement a high nickel ternary material project with an annual output of 10000 tons of lithium ion batteries, with a total investment of about 585 million yuan.

Fengyuan shares said that the company's high nickel 811 ternary materials pilot products, after South Korea lithium battery authority testing organization RTL Co., Ltd. (CORN) test, the main performance indicators have reached the international advanced level of the same industry. The company's annual production of 5000 tons of ternary material project has been put into production can be fully sold, the remaining in the construction line will be debugged in the near future. If all the projects can be successfully implemented and put into operation, the company's total production capacity of ternary materials will reach 15000 tons / year. According to the current market situation, it is estimated that the average annual sales income will be about 2 billion yuan, and the net profit will be about 200 million yuan.

In 2019, the company began to enter the lithium battery material industry. In the first half of the year, the company achieved phased success in the research and development of high nickel ternary technology. The pilot product test and the main performance index of the pilot product of high nickel ternary material reached the international advanced level. And the purchase of international imported equipment, began mass production.

In the first half of 2019, the operating income of Fengyuan lithium battery cathode materials was 96.8463 million yuan, accounting for 45.36% of the company's total revenue and 15.1391 million yuan gross profit. Due to the investment in lithium battery business, the company's performance increased significantly. In the first half of the year, the company's revenue was 214 million yuan and 14.6995 million yuan, up 56.70 percent and 11.06 percent respectively from the same period last year.

As a result of the lithium battery cathode material project put into production, in the first three quarters of this year, Fengyuan shares achieved operating income of 336 million yuan, attributable to the net profit of shareholders of listed companies was 17.6155 million yuan, up 70.49 per cent and 10.27 per cent respectively.

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