Far East Battery wins 153 million Battery order in European Market

Published: Oct 9, 2021 14:54
[far East Battery won 153 million battery orders in the European market] far East shares announced on October 8 that the company received contract orders of more than 10 million yuan won by its subsidiaries in September totaling 1.842 billion yuan, an increase of 229.42 percent over the same period last year. Among them, far East batteries received battery orders of about 170 million yuan in September. From a regional point of view, in September, far East batteries received orders of about 153 million yuan in the European market and 23.8 million yuan in domestic lithium battery orders.

On October 8th, far East announced that in September, the company had received contract orders of more than 10 million yuan from subsidiaries totaling 1.842 billion yuan, an increase of 229.42 percent over the same period last year.

Among them, far East batteries received battery orders of about 170 million yuan in September. From a regional point of view, in September, far East batteries received orders of about 153 million yuan in the European market and 23.8 million yuan in domestic lithium battery orders.

From the European order point of view, far East battery Jiangsu won 110 million yuan battery order; Jiangxi far East battery won 43.362 million yuan order.

Battery China learned from far East shares that far East Battery Jiangsu won 110 million battery orders for customers of an European car company, and the battery will be used for car power, which shows that far East batteries have entered the European market and have been recognized by international car companies. In addition, the far East battery has also made a breakthrough in the overseas energy storage market, winning a total of 43.362 million yuan in European household energy storage system orders in September, and the energy storage business has officially entered the European market.

It is reported that at present, there are mainly two bases for far East batteries: Jiangxi Base (Jiangxi far East Battery Co., Ltd., referred to as "Jiangxi far East Battery") and Jiangsu Base (far East Battery Jiangsu Co., Ltd., referred to as "far East Battery Jiangsu"). It is reported that Jiangxi far East Battery is mainly engaged in R & D, production, sales and service of cylindrical lithium-ion batteries and power batteries. At present, it mainly produces 18650 and 21700 lithium batteries and power battery packs; the existing production capacity is 6GWH, including 21700 capacity 2GWh and 18650 capacity 4GWh.

Far East battery Jiangsu total production capacity planning 12GWH, the product is divided into NCM ternary and lithium iron phosphate two series, 1GWh has been put into production, focusing on the deep ploughing of lithium-ion soft package battery R & D and manufacturing.

Far East's lithium battery copper foil business also performed well in September, with subsidiary Shengda Electric Co., Ltd. signing a new copper foil order of 33.6671 million yuan in September. According to China's understanding of the battery, far East currently has a lithium copper foil production capacity of 15000 tons and has become one of the suppliers of Ningde era.

It is worth mentioning that from January to September this year, the accumulative total of newly signed orders for far East battery plates reached 1.643 billion yuan, an increase of 1223 percent over the same period last year, including 1.318 billion yuan for lithium batteries, an increase of 961.81 percent over the same period last year, and 324 million yuan for lithium copper foil.

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
21 hours ago
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
Read More
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip
[SMM Nickel Flash] Based on nickel ore prices from 25 days ago, smelter profits for high-grade NPI remained high this week. However, from the current raw material side, ore prices from both the Philippines and Indonesia increased, while auxiliary material prices saw a slight pullback, leading to an increase in the cash cost of producing high-grade NPI from spot ore. At the same time, high-grade NPI prices experienced some pullback, making it difficult for smelter profits to see sustained improvement.
21 hours ago
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
21 hours ago
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
Read More
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches
[SMM Nickel Flash] This week, due to a sharp decline in futures triggering arbitrage selling, high-grade NPI prices fell significantly. However, after the selling activity subsided, upstream quotations and the market center gradually returned to normal levels, supported by cost factors. Looking ahead, as the Chinese New Year holiday approaches, market activity is expected to remain subdued, and high-grade NPI prices are projected to hover at highs with limited fluctuations.
21 hours ago
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
21 hours ago
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
Read More
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu
[SMM Nickel Flash] The SMM average price of 10-12% high-grade NPI fell 17.2 yuan/mtu WoW to 1,035.8 yuan/mtu (ex-factory, tax included), while the Indonesia NPI FOB index average price dropped 2.06 $/mtu WoW to 131.2 $/mtu. At the beginning of the week, futures hit limit-down, and nickel prices fell sharply WoW, driving the emergence of arbitrage supplies sold at low prices, leading to a significant decline in high-grade NPI prices.
21 hours ago