SMM Sept. 8: one of the leading electrolyte enterprises, Duofuoduo, announced that it plans to set up a wholly-owned subsidiary, Duofuoyangfu New Materials Co., Ltd. (provisional name), to invest in a project with an annual production capacity of 20, 000 tons of lithium hexafluorophosphate and additives, with a registered capital of 200 million yuan.
According to the announcement, the company will invest in a project with an annual output of 20, 000 tons of lithium hexafluorophosphate and additives, with a total investment of 1 billion yuan.
The establishment of the wholly-owned subsidiary is conducive to optimizing the business structure of the company, and is of great significance to enhance the company's market share and maintain its market leading position.
Lithium hexafluorophosphate, as one of the important components of lithium battery electrolyte, has been in short supply since the beginning of the year, and the price is also rising. Prior to the agency survey, Duofuoduo revealed that the recent supply of lithium hexafluorophosphate continues to be tight, and the company's orders are full, far greater than the existing production capacity. For the future of lithium hexafluorophosphate, it is expected that in the next three years, lithium hexafluorophosphate will be in a state of tight supply, the customer intention will far exceed the company's original expectations, and the product advantages will be further concentrated to the leading enterprises. a relatively stable relationship between supply and demand may be achieved by 2025.
It is precisely because the expectation is so good that prior to this expansion, the company also announced on July 17 that the company intends to use self-raised funds to invest in the construction of 100000 tons of lithium hexafluorophosphate and 40, 000 tons of lithium difluorosulfonimide (LiFSI) and 10, 000 tons of lithium difluorophosphate, with a total investment of 5.15 billion yuan.
Driven by the business growth related to lithium battery products, Polyfluoroduo achieved a total net profit of 308 million yuan belonging to shareholders of listed companies in the first half of the year, up 1859.97% from the same period last year. Up to now, polyfluorodo electrolyte products are not only supplied to domestic mainstream electrolyte manufacturers, but also exported to South Korea, Japan and other countries, sales are in the forefront of the world, its future development is worth looking forward to.
