On the evening of August 5th, Pu Tai Lai (603659) disclosed its semi-annual report that the company's operating income for the first half of 2021 was 3.923 billion yuan, an increase of 107.82% over the same period last year; net profit was 775 million yuan, an increase of 293.93% over the same period last year; and basic earnings per share was 1.12 yuan.
Battery net learned that Pu Tailai's main business focuses on key materials and automatic process equipment for lithium-ion batteries, including anode materials, coated diaphragms, aluminum-plastic packaging film, PVDF, binders and automatic process equipment, etc.
Negative materials and graphitization business
In the first half of the year, Pu Tailai anode materials business achieved shipments of 45246 tons, an increase of 103.57% over the same period last year, and the main business income was 2.454 billion yuan, an increase of 79.46% over the same period last year.
In the first half of the year, in order to meet the future market demand, Pu Tai Lai expanded its pre-production process of 60,000 tons on the basis of the existing production capacity in Jiangxi and 50,000 tons of graphitization processing capacity in Inner Mongolia Phase II, which is expected to be completed and put into production by the end of the year. In order to meet the market demand of the next stage of power battery, the company plans to build an integration project with an annual output of 200000 tons of anode materials in Qionglai, Sichuan, of which the first phase of the integration project of 100000 tons of anode materials is to raise funds and own funds to start the construction.
At the same time, Pu Tai Lai wholly-owned subsidiaries Shandong Xingfeng and Inner Mongolia Zi Xingfeng gradually promoted the transformation of the box furnace under the premise of customer certification. As of June 30, 2021, the company's graphitization production capacity reached 65000 tons; with the second phase of Inner Mongolia graphitization completed and put into production in the second half of the year, the graphitization capacity of Shandong and Inner Mongolia is expected to exceed 120000 tons by the end of the year, and the self-supply proportion of graphitization processing will be further increased.
In addition, in order to speed up the integrated production process of negative materials in the company's Inner Mongolia production base, Pu Tai to accelerate the absorption and merger of Inner Mongolia Zichen and Inner Mongolia Xingfeng, and realize the collaborative integration of the company's negative materials and graphitization team.
Membrane material and coating business
In the first half of the year, due to the increase in the output of downstream domestic power battery customers, Putailai coated diaphragm and processing shipments were 798.39 million tons, an increase of 264.05% over the same period last year. The company's coated diaphragm and processing shipments accounted for 31.88% of domestic wet diaphragm shipments in the same period, an increase of 2.12% over the same period last year. The company's diaphragm and coating processing business realized main business income of 895 million yuan (including base film business), an increase of 217.73% over the same period last year; aluminum-plastic packaging film business realized main business income of 60.6014 million yuan, an increase of 88.85% over the same period last year; nano-alumina (excluding domestic sales) achieved main business income of 8.0064 million yuan, down 37.58% from the same period last year.
Pu Tailai said that in view of the continuous strong product demand of major customers of downstream power batteries, in order to alleviate the bottleneck of the company's coating capacity and form a matching capacity for customers nearby and as soon as possible, on the basis of speeding up the fixed investment project with an annual output of 500 million tons in Ningde Zhuogao, the company has accelerated the expansion of its production capacity in Ningde, Fujian and Liyang, Jiangsu through the purchase of existing mature plants of Ningde A Li and Haicheng Optoelectronics. And will complete the production capacity in time according to customer demand, in line with the construction progress of the company's production base in Qionglai, Sichuan and Zhaoqing, Guangdong, and strive to form a diaphragm coating capacity of more than 4 billion tons in 2022 and 6 billion tons in 2025 respectively.
In terms of diaphragm base membrane, Liyang Yuequan base membrane production line operates stably, the product qualified rate and comprehensive through rate continue to improve, and has 5 μ m ultra-film production capacity; Sichuan Zhuoqin base film and coating integration project phase I 400 million project has completed equipment selection and ordering, and has gradually started project construction.
In terms of coating materials, Pu Tai Lai said that by the end of June, the second phase production capacity of Liyang shield coating material nano-alumina and boehmite had been completed and put into production, and the company had formed an annual production capacity of 5500 tons of nano-alumina and boehmite, which can effectively ensure the product demand of the company's coating processing business and the batch supply of overseas customers. In the first half of the year, Putailai Sichuan Polar Shield started the construction of 1000 tons of nano-alumina production capacity.
In order to further improve the comprehensive supporting service capacity of the company's coating processing and strengthen the guarantee of the supply chain, in the first half of the year, Putailai also increased its 60% stake in Sunshine Fluororesin, a controlling shareholder, and acquired 29.89% of Sichuan Indelle (after all subsequent transactions are completed, the company's shareholding will be changed to 26%), forming a stable self-sufficient ability of coating material PVDF and binder modified PAA, and continue to promote the layout of other binder products such as SBR. Through the layout of key fine chemicals to further protect the electrochemical performance and safety needs of lithium-ion battery customers, and further consolidate and improve the comprehensive competitiveness of the company's coated diaphragm processing business.
In terms of aluminum-plastic packaging film business, in the first half of 2021, with the promotion and penetration of aluminum-plastic packaging film products in the consumer electronics field, the shipment volume of Pu Tailai aluminum-plastic packaging film products reached 4.87 million tons, an increase of 92.49 percent over the same period last year. Through continuous technological improvement and domestic replacement of glue, nylon and other key raw materials, the company's aluminum-plastic packaging film quality rate has been steadily improved, the comprehensive product cost has been effectively controlled, and the product market competitiveness has been further enhanced; in the first half of the year, the company's aluminum-plastic packaging film products have passed part of the power battery customer product certification and achieve small batch supply, which is expected to complete the product import to power battery customers.
Lithium electric automation equipment business
Since the second half of 2020, downstream head power battery manufacturers have gradually got rid of the impact of the epidemic, actively promoted capacity expansion, and focused on equipment bidding and order delivery. China's lithium equipment enterprises have ushered in the historical opportunity of rapid order growth. In the first half of the year, the main business income of Pu Tailai lithium power automation process equipment business (excluding internal sales) was 367.6952 million yuan, an increase of 189.17% over the same period last year.
Pu Tailai said that by the end of June, the company's coating machine business (excluding internal orders) had more than 3 billion yuan in hand orders, and new products including winding machines, stacking machines, liquid injection machines, helium testing machines, chemical sub-volume equipment, etc., had more than 300 million yuan in hand orders. With the continuous delivery of orders in hand in the second half of the year, the company's lithium equipment business is expected to maintain rapid growth. in order to further promote the development of the company's equipment business and increase production capacity, the company plans to invest 1.4 billion yuan to build an equipment base in Zhaoqing City, Guangdong Province. to serve the South China market.
