The gem IPO of this lithium iron phosphate head enterprise has been accepted and has been introduced into Ningde era, BYD and other war investments.

Published: Oct 3, 2021 14:31
[this Lithium Iron Phosphate head Enterprise IPO has been accepted and introduced into Ningde Times, BYD, etc.] this time, IPO, Hunan Yuneng plans to raise 1.8 billion yuan for Sichuan Yuneng Phase III / IV Lithium Iron Phosphate Project with an annual production capacity of 60, 000 tons and supplementary working capital, with a total annual production capacity of 120000 tons of Lithium Iron Phosphate.

Another manufacturer of lithium battery cathode materials sprint IPO! Battery network learned that recently, Hunan Yuneng New Energy Battery Materials Co., Ltd. (hereinafter referred to as "Hunan Yuneng") declared that the gem IPO was accepted.

According to the prospectus, IPO, Hunan Yuneng plans to raise 1.8 billion yuan for Sichuan Yuneng Phase III / IV Lithium Iron Phosphate Project with an annual output of 60, 000 tons and supplementary working capital, with a total annual production capacity of 120000 tons of Lithium Iron Phosphate.

Among them, Sichuan Yuneng Lithium Iron Phosphate expansion projects mainly include "Sichuan Yuneng Phase III Lithium Iron Phosphate Project" and "Sichuan Yuneng Phase IV Lithium Iron Phosphate Project". The main body of the project is Sichuan Yuneng, a subsidiary of Sichuan Yuneng. The construction site is the Lithium Power Industry Park on Andong Avenue, Suining Anju Economic Development Zone, Sichuan Province, with a total investment of 848 million yuan and 876 million yuan respectively, totaling 1.723 billion yuan.

This construction project will further improve the production efficiency and product quality of the company's lithium iron phosphate products by further improving the automation level of the production line. After the completion of the project, it is expected to add a total of 120000 tons / year of lithium iron phosphate production capacity.

Data show that Hunan Yuneng is a leading domestic lithium iron phosphate enterprise, established on June 23, 2016, and is a mixed ownership company initiated by Xiangtan electrification and jointly owned by BYD, Ningde Times, SAIC, China General Motors, and so on. the products are mainly used in the manufacture of lithium-ion batteries such as power batteries and energy storage batteries, and finally used in new energy vehicles, energy storage and other fields.

Thanks to the rapid development of new energy vehicles and energy storage market, the demand for high-quality lithium iron phosphate in the downstream market is growing rapidly. From 2018 to 2020 and the first quarter of 2021, Hunan Yuneng Lithium Iron Phosphate produced 4000 tons, 12800 tons, 31000 tons and 14000 tons respectively. At present, the company's main production bases are located in Xiangtan, Hunan, Baise, Guangxi and Suining, Sichuan. From 2018 to 2020, the production capacity of lithium iron phosphate is 5300 tons, 14200 tons and 29400 tons respectively. Especially since the fourth quarter of 2020, the company's production capacity is relatively tight.

In addition to the Sichuan Yuneng Lithium Iron Phosphate expansion project raised by IPO, Hunan Yuneng announced in May this year that it would invest in Fuquan City in Guizhou Province and Anning City in Yunnan Province in the near future.

Specifically, Hunan Yuneng plans to build a project with an annual output of 300000 tons of iron phosphate and 300000 tons of lithium iron phosphate in Fuquan City, Qiannan Buyi and Miao Autonomous Prefecture, Guizhou Province, with a total investment of 7 billion yuan. At the same time, Hunan Yuneng plans to build a project with an annual production capacity of 350000 tons of iron phosphate and 350000 tons of lithium iron phosphate in Anning City, Kunming City, Yunnan Province, with a total investment of 10 billion yuan.

Battery Network noted that Hunan Yuneng completed the shareholding system reform in 2020, introduced downstream strategic investors such as Ningde Times and BYD, and introduced employee stock ownership platform. the acquisition of 100% equity in upstream iron phosphate manufacturer Jingxi Xiangtan Dianhua New Energy Materials Co., Ltd., the registered capital increased from 299 million yuan to 568 million yuan.

At present, Ningde Times and BYD directly own 10.54% and 5.27% of Hunan Yuneng respectively. Among them, Ningde era is the third largest shareholder of Hunan Yuneng. The company's competitive advantage in the industry has been further enhanced.

From 2018 to 2020 and the first quarter of 2021, Hunan Yuneng's sales revenue to the top five customers accounted for more than 95% of the total sales revenue. Among them, the company's total sales revenue to Ningde era and BYD accounted for 91.24%, 93.56%, 91.10% and 96.99%, respectively.

In addition to Ningde Times and BYD, Hunan Yuneng is also a supplier to many well-known lithium battery enterprises, such as Yiwei Lithium Energy, Honeycomb Energy, Ganfeng Lithium Power, Vision Power, Ruipu Energy, Ningde New Energy, ZTE Pai Energy, Penghui Energy, Nandu Power and many other well-known lithium battery enterprises.

In terms of technology, as of March 31, 2021, the company has 25 domestic patents, including 4 invention patents and 21 utility model patents. In many years of production practice, the company has mastered a number of cathode material production core technology, the company's product process can effectively improve the performance of cathode material products, innovative in the industry.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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