On March 24, Tianshi material (002709) disclosed its annual report for 2020 that the company achieved operating income of 4.119 billion yuan in 2020, an increase of 49.53% over the same period last year. The net profit belonging to shareholders of listed companies was 533 million yuan, an increase of 3165.21% over the same period last year, and earnings per share was 0.98 yuan.
Tianci material is mainly engaged in the research and development, production and sales of new fine chemical materials, which belongs to the fine chemical industry, and its main products are lithium ion battery materials, daily chemical materials and specialty chemicals. Among them, the lithium-ion battery materials produced by the company are mainly lithium-ion battery electrolyte and cathode material lithium iron phosphate, which are the key raw materials of lithium-ion battery.
In terms of lithium-ion battery materials, Tianci material achieved a large growth rate in 2020, with an annual operating income of 2.661 billion yuan, an increase of 56.7% over the same period last year; a total of more than 73000 tons of electrolyte was delivered in the whole year, an increase of more than 52% over the same period last year. At the same time, the company also opened the harvest year of international customers of electrolyte products in 2020, not only successfully opened up international well-known customers and realized batch supply, AESC, Northvolt, Dyson, SDI, BMW, Panasonic, etc., have entered the stage of close cooperation, and customers who have worked hard for many years, such as LG and Murata, have obtained a higher supply share and good customer evaluation, while the process of internationalization with domestic customers is also accelerating.
The battery network noticed that Tianci material laid out the electrolyte energy storage application market in advance. At present, the company's innovative products have taken the lead in seizing more than 80% of the 5G, iron tower and other energy storage markets. In the two-wheeler market, the company continues to maintain the leading market share of lithium manganate battery electrolyte, and the application of lithium iron phosphate in the second-wheel market has been expanded in 2020, which has successfully broken through the core customer's iron-lithium two-wheeler project. Lithium iron phosphate precursor iron phosphate, the company has steadily increased production capacity, has been introduced into lithium iron phosphate head enterprises, products in short supply. At present, the company produces and uses a variety of electrolytes and additives, including lithium hexafluorophosphate (LiPF6), lithium difluorosulfonimide ((LiFSI)), lithium difluorophosphate (LiPO2F2), vinyl sulfate (DTD), etc., both in terms of production scale and process level. Among them, lithium hexafluorophosphate is divided into liquid lithium hexafluorophosphate and solid lithium hexafluorophosphate. Lithium difluorosulfonimide (LIFSI) has a unique synthesis and purification process, which has natural advantages in quality and cost, which contributes to its rapid introduction to the market. The synthesis process of lithium difluorophosphate (LiPO2F2) has made a subversive innovation and solved the problem of high cost. At present, the company's organic additive VC has achieved continuous production. The output of anhydrous hydrogen fluoride of fluorine-containing materials depends on internal demand to achieve a balance between production and marketing, no inventory, give full play to the linkage benefits of the group, strengthen the internal balance strategy, and the overall benefit is significantly improved.
At the same time, Tianci also issued a forecast for the first quarter of 2021, with an estimated net profit of 250 million yuan to 300 million yuan, an increase of 502.35%, 622.82%, and basic earnings per share of 0.46 yuan to 0.55 yuan. With regard to the reasons for the change in performance in the first quarter of 2021, Tianci material said that the market demand for lithium-ion battery material electrolyte products is strong, and the sales volume has increased significantly. At the same time, the self-yield of raw materials and gross profit margin of the products have increased.
It is worth noting that on March 15 this year, Tianci's application for a non-public offering of shares was examined and approved, and the total amount of funds to be raised in this non-public offering did not exceed 1.665 billion yuan. After deducting the issuing expenses, all the net funds raised will be invested in the following projects: the annual production of 20, 000 tons of electrolyte basic materials and 5800 tons of new lithium electrolytes, the annual production of 150000 tons of lithium materials, the annual production of 400000 tons of sulfur huang sulphuric acid, the annual production of 100000 tons of lithium battery electrolyte, the annual production of 50, 000 tons of hydrogen fluoride, and the annual production of 25000 tons of electronic grade hydrofluoric acid. Annual output of 185000 tons of daily chemical new materials project and supplementary working capital.
In terms of overseas layout, on March 17 this year, Divine Materials invested and set up a wholly-owned subsidiary in Germany in the form of currency investment, with a registered capital of US $15 million. Wholly-owned subsidiary name: TINCI MATERIALS GmbH, business scope includes: production and sales of lithium-ion battery materials (including chemicals and hazardous chemicals); chemical trade; technology import and export.
