On August 24th, Tianqi (002009) issued an announcement, and the company recently received a notice confirming that the company is the supplier of the "final assembly first-line production line" of Changsha BYD Automobile Co., Ltd. (hereinafter referred to as "Changsha BYD"). The amount of the project is 106 million yuan, and the delivery time of the project is March 31, 2022.
The announcement shows that Changshabiadi, a wholly owned subsidiary of BYD Group, is one of the most strategic production bases of new energy vehicles in BYD Group. Tianqi shares did not have similar business orders with Changsha BYD and BYD Group companies in 2020, and the company signed similar business orders totaling 12.7303 million yuan with BYD Group companies in 2021.
Battery Network noted that in addition to BYD, Tianqi shares in the field of intelligent equipment business, but also with ideal Automobile, Xiaopeng Automobile, Beamlight Automobile, Weima Automobile and other representative new energy vehicle brands have reached good business cooperation.
According to the semi-annual report, in the first half of 2021, Tianqi's intelligent equipment business achieved sales revenue of 627 million yuan. As of the end of June, the company's automotive intelligent equipment business orders 805 million yuan, bulk transport business orders 393 million yuan. Among them, the company's newly signed new energy vehicle equipment projects in the first half of the year accounted for about 40% of the total orders for smart equipment.
Tianqi shares recently introduced in a research activity that the company still has a large number of new energy vehicle projects under negotiation. In the domestic market, a large number of traditional car companies usually invest in the construction of new energy vehicle production line in the form of transforming the original production line. According to a rough estimate, about 60% of the original production line needs to be modified to meet the production requirements of new energy vehicles, and the company will give full play to its advantages in the industrial Internet to help car companies improve the intelligence of the production line. The company has accumulated more production lines of traditional car companies and has obvious comprehensive competitive advantages. in overseas markets, the company has become a global supplier to many international well-known car companies, especially in Japanese and American car companies. Due to the periodic influence of the development of foreign new energy vehicle market and the renewal of production line of foreign automobile enterprises, the company believes that overseas projects will further increase, and the smart equipment business is expected to continue to grow in the next 3-5 years.
In addition, also benefiting from the development of the domestic new energy vehicle industry, the strong demand for power battery materials led to a rise in the prices of cobalt, lithium and other metals. Jintai Pavilion, the core subsidiary of Tianqi Power Battery Recycling and Utilization Business, and Tianqi Lithium increased significantly in the first half of the year, totaling 545 million yuan in newly signed orders.
In order to cope with the surging market demand, in addition to Tianqi's announced plans to build 30,000 tons of ternary precursors and 12000 tons of lithium carbonate production projects in the first half of the year, Jintai Pavilion and Tianqi Lithium have recently begun to expand production and technological transformation projects. the total investment is 440 million yuan, of which 220 million yuan is fixed asset investment. Finally, the output of cobalt, manganese and nickel will be increased from 3500 tons / year to 12000 tons / year, and lithium carbonate from 2000 tons / year to 5000 tons / year. The project will be completed and put into production in the first quarter of 2022 and is expected to reach 60% of the planned production capacity by the end of 2022 (that is, cobalt, manganese and nickel will be raised to 9000-9500 tons per year, and lithium carbonate to 3500-4000 tons per year), and will be fully produced by 2023.
Tianqi shares said that in the future, the company will concentrate all efforts to develop lithium battery recycling business, continue the automotive aftermarket layout, and strive to achieve high-value utilization of automotive aftermarket recycled resources. finally, a new pillar industry of production, manufacturing and service will be formed, which is mainly based on waste automobile recycling and lithium battery recycling.
