On the evening of August 27th, German Nano (300769) released its semi-annual report for 2021. In the first half of the year, the company sold a total of 31100 tons of lithium iron phosphate, an increase of 191.87% over the same period last year, and its sales exceeded that of last year; its operating income was 1.275 billion yuan, an increase of 257.69% over the same period last year; and the net profit belonging to shareholders of listed companies was 135 million yuan, an increase of 2104.61% over the same period last year.
German Nano said that in the first half of the year, the company's product prices rose due to factors such as the rising price of upstream raw materials and tight supply and demand in the lithium iron phosphate market, and at the same time, thanks to the effective promotion of cost control, the company's profitability has greatly improved compared with the same period last year.
According to public data, German Nano is an enterprise that produces nano-lithium iron phosphate cathode materials and carbon nanotube conductive fluid, is a leading enterprise in the lithium iron phosphate industry, and its main customers are leading enterprises in the field of lithium-ion batteries. Products are widely used in the production of power batteries and energy storage batteries, the main production bases are Foshan City, Guangdong Province and Qujing City, Yunnan Province.
It is reported that last year, the German side understarted nano-capacity and delayed the commissioning of new projects, resulting in lower-than-expected production and sales for the whole year. In the first half of this year, the lithium iron phosphate market continued the tight supply since the fourth quarter of 2020, and the market demand continued to be strong. Therefore, German Nano began to steadily promote the construction and release of new production capacity.
It is understood that Qujing Lintie and Qujing German Phase I (IPO investment project) capacity has been gradually released; Qujing German Phase II (2020 stock offering project to specific targets) was completed in the first half of the year and entered the trial production phase in July. In addition, the company also has a joint venture with downstream customers to build the Deyi Yiwei project and the Yibin German time project, which are being carried out in an orderly manner as planned. Up to now, the company has completed the cumulative construction of lithium iron phosphate production capacity of 120000 tons / year.
On the same day, German Nano announced that the company intends to jointly invest with Chairman Kong Lingyong and Shenzhen Deyuan Daoyuan Enterprise Management Partnership (Limited Partnership) to set up Foshan Defang Chuangyu New Energy Technology Co., Ltd. (hereinafter referred to as: joint venture), with a registered capital of 50 million. In the future, it will focus on the research and development, production and sales of new lithium-ion battery materials other than cathode materials.
German Nano said that if the research and development of the joint venture goes smoothly and the products are successfully introduced to the market, it will enrich the company's product types, further enhance the company's overall strength and market competitiveness, and enhance the company's profitability.
In addition, German Nano also issued a notice saying that in order to optimize the asset-liability structure of Qujing German, a wholly-owned subsidiary, enhance its financing capacity, meet its operating capital needs, and ensure the smooth development of various businesses, the company plans to increase the capital of qu Jingde by means of debt-to-equity swap of RMB 350 million. After the completion of the capital increase, qu Jingde's paid-in capital, registered capital and equity structure remain unchanged and remain a wholly-owned subsidiary of the company.
It is worth noting that in order to further focus on the main business, improve the company's competitive advantage and optimize the company's profit structure, German Nano divested the carbon nanotube conductive and hydraulic business with a small proportion of income and net profit, and after the sale was completed, the company and its subsidiaries are no longer engaged in carbon nanotube conductive liquid-related business.
