On the evening of June 15, Yongtai Technology (002326) announced that the holding subsidiary Yongtaigao plans to raise 794 million yuan of self-raised funds to invest in an annual output of 20000 tons of lithium hexafluorophosphate and 1200 tons of related additives and 50000 tons of hydrofluoric acid industrialization project. The construction period of the project is expected to be about 3 years, with an additional annual income of 2.348 billion yuan and an annual net profit of 379 million yuan after full production.
Recently, the US Energy Administration released the US lithium battery 2021-2030 national blueprint developed by the FCAB Federal Advanced Battery Alliance. The report points out that the lithium industry seems to be at a tipping point, with lithium costs falling by nearly 90% since 2010. It is also affecting the global transportation market and has the potential to reshape the global industry in the coming decades. It is estimated that China's lithium power production capacity will reach 1811GWh by 2025.
According to the "White Paper on the Development of Lithium Ion Battery electrolyte Industry in China (2021)" jointly issued by EVTank and Ivie Economic Research Institute and China Battery Industry Research Institute, with the growth of downstream new energy vehicle power battery demand, the rapid expansion of emerging consumer areas and the outbreak of energy storage industry during the "14th five-year Plan" period, lithium demand is exuberant, driving China's electrolyte shipments to maintain rapid growth in the future.
Yongtai Technology said that since the second half of 2020, the domestic price of lithium hexafluorophosphate has continued to rise. On the one hand, due to the mismatch between supply and demand, the demand in the downstream market has exceeded expectations, while the production capacity on the supply side has failed to keep up. Inventory is at the lowest level in the same period in the past three years; on the other hand, it is driven by the rising cost of raw materials. Due to the high technical barrier of lithium hexafluorophosphate and the long production expansion cycle, it is difficult for new manufacturers to enter, and the new production capacity is mostly put in by the original manufacturers. Considering that the downstream production and sales data of new energy vehicles are still good, the tight supply and demand pattern of lithium hexafluorophosphate may continue.
Zhongtai Securities expects that lithium hexafluorophosphate and VC will maintain a tight balance in the first half of 2022, prices are expected to remain high, and products are expected to maintain high profitability. Yongtai science and technology VC, lithium hexafluorophosphate production capacity is large, a number of products are about to be put into production, is expected to benefit from the industry Gaojing demeanor.
According to several media reports, the price of lithium hexafluorophosphate has reached a four-year high, and on June 8, its market price was as high as 315,000 yuan / ton, an increase of nearly 300% this year.
The battery network learned that Yongtai Technology has normally produced high-quality lithium hexafluorophosphate, which has been put into production of 2000 tons, and has successfully developed commercial production processes of other mainstream electrolyte additives with high quality, high efficiency and high performance, such as LIFSI (lithium difluorosulfonimide), LiDPF (lithium difluorophosphate), LiDODFP (lithium difluorodioxalate), VC (ethylene carbonate) and FEC (fluoroethylene carbonate).
A few days ago, Yongtai Technology said when receiving a survey, Inner Mongolia Yongtai is building an annual production capacity of 3000 tons of FEC and 5000 tons of VC. The project can be rebuilt in existing workshops with existing equipment, which is relatively short of the construction cycle of new projects. According to the company's previous experience in other reconstruction projects, the reconstruction cycle is generally 2-3 months.
Battery Network noted that on June 5, Yongtai Science and Technology announced that its subsidiary, Inner Mongolia Yongtai, plans to invest 150 million yuan in the third phase of the low-carbon industrial park in Wuhai Economic Development Zone, resulting in an annual production capacity of 3000 tons of FEC and 5000 tons of VC.
Yongtai Technology previously revealed that it will speed up the construction of lithium materials projects and actively expand production capacity in 2021, and plans to expand two lithium hexafluorophosphate workshops this year, with a total production capacity of 8000 tons per year after completion. At the same time, the company will continue to promote the annual production capacity of the new lithium salt difluorosulfonimide lithium to reach the originally designed 2000 tons as soon as possible.
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