Cangzhou Mingzhu plans to invest 700 million yuan to expand the production of wet-process lithium diaphragm and increase its annual production capacity by 200 million yuan.

On the evening of October 21st, Cangzhou Mingzhu (002108) announced that Sun Company Wuhu Mingzhu membrane Technology Co., Ltd. plans to invest in the construction of the "annual production capacity of 200 million square meters of wet lithium-ion battery diaphragm project" in Wuhu City, Anhui Province. The total investment of the project is 700 million yuan, mainly investing in the construction of two wet-process lithium-ion battery diaphragm production lines for the production of wet-process lithium-ion battery diaphragm products. The project is solved by the company through its own funds and self-raised funds.

The announcement shows that Cangzhou Mingzhu currently has an annual production capacity of 390 million square meters of wet lithium-ion battery diaphragm (including 200 million square meters of production capacity under construction). After the completion of the above project and production capacity under construction, the company's annual production capacity of wet lithium-ion battery diaphragm is 590 million square meters.

In addition to the wet diaphragm, Cangzhou Mingzhu also has a dry diaphragm production capacity of 100 million square meters and coated lithium battery diaphragm products, customers include BYD, Menguli, Lishen Battery, AVIC Lithium, Samsung SDI and so on. In the first three quarters of this year, benefiting from the increase in sales of lithium-ion battery diaphragm products, the company achieved revenue of 2.104 billion yuan, an increase of 6.99% over the same period last year, while the net profit belonging to shareholders of listed companies was 343 million yuan, up 44.03% from the same period last year. Among them, in the first half of this year, the company's diaphragm shipment volume was about 120 million square meters, with operating income of 236 million yuan, an increase of 404.91 percent over the same period last year.

It is worth noting that Cangzhou Mingzhu is also on the list of the annual competitive brands of China's lithium battery industry in 2021 jointly released by EVTank, Hailong Network, Battery Network, Yiwei Economic Research Institute and China Battery Industry Research Institute, ranking seventh. At the same time, Enjie shares, Xingyuan Materials, Sinopec, Huiqiang New Materials, Jinli shares, ZTE New Materials, Zhongke Science and Technology, Pu Tailai and Hongtu Diaphragm also appeared on the list.