Recently, Ningde Times (300750) said at the online group reception day for investors that with the rise in commodity prices this year, the price of the company's main metal materials has risen, causing some pressure on the cost side. The company mainly reduces the production cost and raw material cost by improving product performance and energy density, optimizing product design, improving production process, improving product yield, realizing more efficient automatic production, and reaching deep cooperation with the industrial chain.
It can be seen that at present, in addition to product and technology innovation, deep binding of upstream industrial chain enterprises is becoming one of the main means to reduce the cost of battery enterprises.
Battery network carding found that since the beginning of this year, among the top 10 domestic power battery enterprises, Ningde Times, BYD, LG Chemistry, Guoxuan Hi-Tech, Yiwei Lithium Energy, Honeycomb Energy and so on are all adding to the layout of battery materials and upstream raw materials:
Ningde era (300750)
On April 10, Ningde era and Luoyang Molybdenum Industry reached omni-directional strategic cooperation in the field of new energy metal resources. At the signing ceremony, Ningbo Bangpu Times New Energy Co., Ltd., the indirect holding company of Ningde Times, signed a "Strategic Cooperation Agreement" with CMOC Limited (, a wholly owned subsidiary of Luoyang Molybdenum Industry.
At the same time, Hong Kong Bang Pu Times New Energy Co., Ltd., a wholly-owned subsidiary of KFM Times, acquired a 25% stake in Hong Kong KFM Holdings Limited (referred to as "Bang Pu Holdings"), a wholly-owned subsidiary of Luo Mo Holdings, for a total consideration When the deal is completed, Luomo Holdings and Bang Pu Times will own 75 per cent and 25 per cent of KFM respectively, while KFM Holdings will own 95 per cent of the Kisanfu copper and cobalt mine in the Democratic Republic of the Congo.
KFM Copper-Cobalt Mine is one of the highest-grade copper-cobalt deposits in the world, with ore resources of 365 million tons, more than 6.2 million tons of copper metal and more than 3.1 million tons of cobalt metal, which can provide Ningde era with a long-term stable, reliable, clean and responsible supply of cobalt raw materials. At the same time, the two sides will also work together to build a world-class large copper and cobalt producer.
On January 18, the German Nano, Ningde Times and the people's Government of Jiang'an County jointly signed the Investment Agreement on the Project of Lithium Iron Phosphate with an annual output of 80, 000 tons in Jiang'an County, Yibin City, Sichuan Province. it is agreed to invest in the construction of a project with an annual output of 80, 000 tons of lithium iron phosphate, with a total investment of about 1.8 billion yuan.
On January 11, Ningde Times also increased investment in Jiangxi sublimation with Fulin Seiko and other enterprises to build a 50,000-ton lithium cathode material project in Shehong City, Sichuan Province. Among them, Ningde era directly increases capital by RMB 20 million, and has the right to choose to increase capital by RMB 44 million by itself or by a designated third party.
BYD (002594)
On the evening of April 2, Anda Technology, a manufacturer of new three-plate cathode materials, issued a directed stock offering prospectus, intending to issue nearly 140 million shares at an issue price of 2.53 yuan per share, raising 354 million yuan. BYD and other 29 investors have confirmed to participate in this subscription.
On January 27th, Golmud Yadi Lithium material Co., Ltd. was established, the legal representative is Gongqing, with a registered capital of 50 million yuan, the scope of business includes: manufacturing and sales of non-metallic mineral products, mining of mineral resources (non-coal mines), etc. Check equity penetration shows that the company is 100% controlled by BYD.
LG chemistry
LG Chemical said it will invest 40 billion won (230 million yuan) in Chinese copper foil maker Jiujiang Defu Technology Co., Ltd. (hereinafter referred to as Telford Technology) to stabilize the supply of core battery materials, Yonhap news agency reported.
LG Chemical said in a statement that it would take a stake in Chinese copper foil maker Telford Technology, which has an annual production capacity of 49000 tons. LG Chemical has signed a memorandum of understanding with it and the two sides will establish a long-term cooperative relationship in the copper foil business.
LG Chemical said Telford Technology plans to expand its annual production capacity to 78000 tons by 2022 to meet the growing demand for copper foil for the manufacture of automotive batteries.
Yi Wei Li energy (300014)
On the evening of May 17th, Yiwei LiNeng announced that Yiwei Asia Co., Ltd., a wholly-owned subsidiary, plans to increase the capital of Changzhou Beitre New material Technology Co., Ltd. (referred to as the "joint venture company") together with Beitre (Jiangsu) New Materials Technology Co., Ltd. (hereinafter referred to as "the joint venture company"). The joint venture company intends to increase the registered capital from the current RMB 5 million to RMB 1.954 billion.
Specifically, Bertre contributed RMB 997 million in cash, accounting for 51% of the registered capital of the joint venture company. Sidi contributed RMB 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.
On the morning of March 31st, the opening ceremony of the "Lithium Iron Phosphate production Base Project with an annual capacity of 100000 tons" jointly built by German Nano and Yiwei Lithium Energy was held in Qujing Economic Development District.
In addition to the cathode material, Yiwei LiNeng is also in the upstream raw material layout.
On May 24th, Yiwei Asia, a wholly owned subsidiary of Yiwei LiNeng, signed the "Indonesia Huayu Nickel Cobalt laterite Nickel Wet smelting Project Joint Venture Agreement" with Yonghui, Glaucous, Huayou International Cobalt and LINDO. The parties agreed to set up a joint venture company in Indonesia to implement the laterite nickel hydrometallurgy project with an annual output of about 120000 tons of nickel and about 15000 tons of cobalt.
On January 26th, Yiwei LiNeng announced that the company and its controlling shareholder Yiwei Holdings intend to jointly subscribe for Huayou Cobalt's non-public offering shares with their own and self-raised funds of 1.8 billion yuan. Huayou Cobalt Industry is mainly engaged in the R & D and manufacturing of new energy lithium materials and cobalt new materials.
Guoxuan High Technology (002074)
On May 22, the kick-off meeting of Guoxuan Hi-Tech Yichun Lithium Power New Energy Project was held in Yichun Economic and technological Development Zone. It is reported that the Guoxuan Hi-Tech Yichun lithium new energy project has a total investment of 11.5 billion yuan, which is divided into two phases, mainly engaged in mine resources development, lithium carbonate extraction, lithium battery R & D and manufacturing, energy storage system development, and so on, to build the whole industry chain system of power battery. after reaching production, it is expected to achieve an annual output value of 20 billion yuan.
On April 22, in order to give full play to the advantages of resources and build a platform for the battery material industry, Guoxuan Hi-Tech also announced that it plans to work with Phosphating Group and Wengfu Group to set up Phosphating Guoxuan New Energy Materials Co., Ltd. in Fuquan City, Guizhou Province, with a registered capital of 500 million yuan, of which the company will contribute 200 million yuan in currency and assets and will hold a 40% stake in phosphating Guoxuan.
On March 24, Guoxuan Hi-Tech and Yichun Mining signed a "Cooperation Agreement". The two sides jointly contributed 100 million yuan to establish a joint venture Yichun Guoxuan Mining Co., Ltd. Among them, the company contributed 51 million yuan in its own currency, accounting for 51% of the registered capital of the joint venture company, while Yichun Mining contributed 49 million yuan, accounting for 49% of the registered capital of the joint venture company. According to the agreement, the business scope of Yichun Guoxuan includes the exploitation, management and operation of mineral resources, with the aim of jointly investing in the development of mineral resources and ensuring the supply of lithium ore resources of the company. After the completion of this investment, Yichun Guoxuan became a holding subsidiary of the company.
On March 22nd, Guoxuan Hi-Tech and the government of Feidong County signed an investment cooperation agreement to invest 12 billion yuan in the Hefei Circular economy demonstration Park in Feidong County to build a series of projects of power battery industry chain, mainly for the upstream raw materials and battery recycling of power lithium battery. the project is planned to cover an area of 2280 mu and is expected to be completed and put into production within 24 months.
On March 10, Hefei Guoxuan, a wholly-owned subsidiary of Guoxuan Hi-Tech, funded the establishment of wholly-owned subsidiaries Guoxuan Xunke and Guoxuan New Materials. Among them, the establishment of Guoxuan Xunke to carry out lithium battery recycling business, the establishment of Guoxuan new materials to carry out negative material research and development, production and sales business, both registered capital of 50 million yuan.
On January 17, the project of Lujiang Volkswagen National Xuan with an annual output of 30,000 tons of ternary cathode materials began, and the project will be completed and put into production in December 2023.
Honeycomb energy
On the occasion of the Shanghai International Auto Show, the signing ceremony of the strategic cooperation agreement between Cunninghamia lanceolata and Honeycomb Energy was held in National Exhibition and Convention Center. The two sides will further strengthen the depth of cooperation and broaden the areas of cooperation. Build a strategic alliance of vertically integrated industries from resources to batteries to achieve two-wheel drive of industry and capital.
On the afternoon of April 8, Honeycomb Cobalt-free cathode material was officially put off the production line at its cathode material factory in Jintan, Changzhou. At present, the company has put into use two production lines, can achieve multi-formula process production, if all used to produce cobalt-free materials, the annual production capacity can reach 5000 tons.
It is worth noting that on the morning of May 23, five departments, including the National Development and Reform Commission, the Ministry of Industry and Information Technology, the State-owned assets Supervision and Administration Commission, the General Administration of Market Supervision and Administration, and the Securities Regulatory Commission, held a meeting to jointly interview key enterprises with strong market influence in iron ore, steel, copper, aluminum and other industries.
The meeting pointed out that since the beginning of this year, the prices of some commodities have continued to rise sharply, and the prices of some varieties have hit record highs, which has aroused widespread concern from all sides. This round of price rise is the result of a variety of factors, not only international transmission factors, but also many aspects reflect the existence of excessive speculation, disrupt the normal cycle of production and marketing, and contribute to the price rise.
The meeting made it clear that in the next step, the relevant regulatory authorities will closely follow and monitor the trend of commodity prices, strengthen the linkage supervision of commodity futures and spot markets, "zero tolerance" for illegal activities, and continue to step up law enforcement and inspection. we will investigate abnormal transactions and malicious speculation, resolutely and strictly investigate and deal with illegal acts such as the implementation of monopoly agreements, the dissemination of false information, price hikes, and hoarding in accordance with the law.
Battery Network noted that in terms of battery materials, generally speaking, the price surge has improved: after the cobalt price exceeded 40, 000 yuan / ton at the end of February, it began to fluctuate, and the current price has dropped to about 350000 yuan / ton. since mid-March this year; Battery-grade lithium carbonate basically fluctuates around 90,000 yuan / ton, lithium iron phosphate material has been stable in high dimension since mid-April, and the price increase of lithium hydroxide has slowed down since mid-May. In terms of other materials, the prices of negative materials and diaphragms are relatively stable, only the price of electrolyte continues to rise.
However, as the global demand for lithium batteries accelerates towards the TWh era, the demand for battery materials and upstream cobalt, lithium, nickel and other mineral resources will also usher in a substantial increase.
Earlier this month, the IEA said western countries should consider stockpiling key battery metals such as cobalt and lithium, in a stern warning of the geopolitical risks that accompany the green energy transition.
At the same time, from the layout trend of battery enterprises, it can be predicted that the relationship between battery enterprises and upstream material suppliers will be closer in the future.
