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Since the second half of last year, with the sustained high boom in the downstream market of new energy, investment in the lithium power industry has continued to be high, and the diaphragm, as one of the key materials of lithium power, continues to be tight in supply, in order to seize market opportunities, the pace of production expansion of relevant enterprises has been accelerated. Based on the annual brand list of diaphragm competitiveness 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, TOP10, Battery Network counted the capacity of 10 diaphragm enterprises, and the total existing and planned capacity of the above enterprises has exceeded 43.8 billion million.

The details are as follows:

Enjie shares (002812)

At present, Enjie has planned eight major production bases, including Shanghai, Zhuhai, Jiangxi and Wuxi, Jiangsu, Changzhou, Chongqing, Suzhou and Hungary, and at the same time, the company has achieved rapid expansion in scale and production capacity through the acquisition of the diaphragm businesses of Jiangxi Tongrui, Suzhou Jie Li, China Eastern Optoelectronics and Numi Technology.

In addition to self-built capacity, Enjie also actively cooperated with downstream customers to expand related diaphragm capacity this year, through deep binding with downstream customers to increase the certainty of subsequent new capacity performance release. On November 10th, the company and Ningde Times set up a 8 billion platform company to invest in lithium diaphragm projects, planning wet and dry separation membrane projects with a total capacity of 3.6 billion yuan / year; on August 2nd, it is proposed to set up a joint venture company with Yiwei LiNeng to invest 5.2 billion yuan to expand the production of wet process base membrane and coated film 1.6 billion yen / year; on January 31st, it is proposed to set up a joint venture company with Polypore subsidiary to invest 2 billion in the production of dry process lithium diaphragm in China, with a planned annual production capacity of 1 billion yen.

According to rough calculation, including joint asset energy, Enjie currently has a planned production capacity of 15.52 billion kilowatts.

Star Source material (300568)

It is understood that Xingyuan material has four production bases in Shenzhen, Anhui and Jiangsu, three R & D centers in Shenzhen, Japan and Germany, and two projects under construction in Europe and Nantong in 2021. Relying on the Shenzhen headquarters, it has formed the industrial chain layout of three R & D centers and six manufacturing bases around the world.

Among them, the two major projects under construction in Nantong and Europe and Sweden have a total investment of more than 12 billion yuan and a design capacity of 4.12 billion tons.

According to rough calculation, the current planned production capacity of Xingyuan material has exceeded 7.3 billion tons. The company plans to have a production capacity of 6 billion tons of diaphragm basement membrane in 2025.

Sinopec (002080)

At present, Sinopec has four production bases, such as Tengzhou, Changde, Ningxiang and Inner Mongolia. In recent years, the company has accelerated the release of lithium film production capacity through acquisition and capacity construction, which will exceed 1.5 billion tons by the end of this year.

In addition, on May 19th, Sinopec announced that Nanjing Lithium membrane, a wholly owned subsidiary of Sinopec Lithium membrane, plans to invest in the construction of an "annual production line of 1.04 billion tons of lithium-ion battery diaphragm" in Nanjing, Jiangsu Province, with an estimated total investment of 3.75 billion yuan.

On November 9, Sinopec Science and Technology announced that Inner Mongolia Zhongli New material Co., Ltd., a subsidiary of Sinopec Lithium Film Co., Ltd., plans to invest 895 million yuan to build a special wet diaphragm production line with an annual production capacity of 320 million yuan in Hohhot, Inner Mongolia Autonomous region.

According to rough calculation, the total planned production capacity of Sinopec has exceeded 3.8 billion tons.

Huiqiang new material

At present, Huiqiang Xincai has three production bases in Zhumadian, Henan and Wuhan and Xiangyang in Hubei Province.

Among them, the first phase of the Zhumadian manufacturing base project in Henan Province was put into production in May 2013, forming an annual production capacity of 20 million tons; in April 2018, two import production lines in the second phase of the Henan base were put into production, with an annual production capacity of 150 million tons; and in July 2020, two import lines in the third phase of the Henan base were put into production, with an annual production capacity of 180 million tons. Two sets of imported modern production lines of Wuhan Science and Technology Park were put into production in December 2014, forming an annual production capacity of 100 million tons of base film and 30 million tons of coated film. On September 27 this year, with the successful removal of the three-layer co-extruded smart battery diaphragm, the Xiangyang production base with an annual output of 300 million tons was transferred from the equipment installation and commissioning stage to the trial production stage.

According to rough calculation, Huiqiang New material currently has a diaphragm annual production capacity of 780 million tons.

Hebei Jinli

At present, Hebei Jinli has three major production bases: Handan in Hebei, Maanshan in Anhui and Tianjin. Among them, Handan in Hebei has an existing production capacity of 550 million tons, which will reach 1.15 billion tons by the end of 2023; the Maanshan project in Anhui has a total investment of 2.2 billion yuan, with a planned diaphragm production capacity of 1.4 billion tons; and the Tianjin base is expected to have a total investment of 1.6 billion yuan and a planned diaphragm capacity of 850 million tons.

Battery network learned from Hebei Jinli that the company's current planned production capacity has exceeded 5.5 billion tons.

ZTE new materials

At present, ZTE Xincai has production bases in Shenzhen, Dongguan and Wuhan. The company has an existing production capacity of about 800 million tons, and will reach 1.06 billion tons by 2022. The main customers include BYD, CATL, Yiwei Lithium Energy, Xingheng Power supply, Penghui Energy, Parergy Technology, Bike Battery and so on. The diaphragm shipments of ZTE new materials are about 215 million tons in 2020 and 190 million tons in the first half of 2021.

The Pearl of Cangzhou (002108)

At present, Cangzhou Pearl has three production bases in Cangzhou, Hebei, Wuhu, Anhui and Dezhou, Shandong. Among them, Wuhu, Anhui Province is the newly planned base for the wet lithium-ion battery separator project with an annual production capacity of 200 million tons, with a total investment of 700 million yuan. In addition, this year, the company also announced that the Hebei Cangzhou base has an annual production capacity of 200 million tons of wet lithium-ion battery separator project. The project is expected to invest 620 million yuan.

According to rough calculation, the total planned production capacity of Cangzhou Mingzhu has exceeded 3.8 billion tons.

Chinese science and technology

China Science and Technology has a total capacity of 240 million tons of base membrane, including 13 dry production lines with a production capacity of 160 million tons, 1 wet line (imported from South Korea) with a production capacity of 20 million tons, 1 evaporation line (imported from Germany) with a production capacity of 60 million tons, and 13 ceramic coating lines with a production capacity of 90 million tons. The main customers of Zhongke Technology include Zhuhai Guanyu, Guoneng Battery, Zhongji Battery, ZTE Paineng, Carney New Energy, CATL, far East Foster, Tianjin shares, Xiongtao shares, Yiwei Lithium Energy, BYD, Lishen Battery and so on. The volume of diaphragm shipments of China Science and Technology in 2020 is about 80 million tons, and that of the first half of 2021 is about 70 million tons.

Pu Tai Lai (603659)

At present, Pu Tai Lai has two major production bases in Liyang, Jiangsu and Ningde, Fujian. This year, on the basis of the production capacity of the two bases, the company plans new production bases in Zhaoqing, Guangdong and Qionglai, Sichuan. Among them, Zhaoqing, Guangdong, is the company's South China base, with an annual output of 4 billion square meters, the first phase of 2 billion square meters will be put into production in 2023, and the second phase of 2 billion square meters will be completed and put into production in 2026; Qionglai, Sichuan Province, through Sichuan Zhuoqin investment construction of 2 billion tons of basement membrane and coating integration project, the total investment of the project is expected to not exceed 6 billion yuan.

According to rough calculation, at present, the total planned production capacity of Pu Tai Lai has exceeded 8.7 billion tons.

Liaoyuan Hongtu

Hongtu diaphragm has a total capacity of 200 million tons of wet diaphragm, and its main customers include Lishen battery, Tianpeng power supply, Changhong Sanjie, Bic battery, Hengdian Dongji and so on. In 2020, Hongtu shipped about 67 million yen, with an operating income of 84 million yuan. Hongtu shipped about 80 million yen in the first half of 2021.

Battery net noted that although TOP10's existing and planned capacity has exceeded 43.8 billion tons, according to the announcements of five listed companies, 21.48 billion million of its 36.03 billion-year planned capacity is planned for this year.

From the data point of view, since the beginning of this year, the diaphragm head enterprises can be said to increase the pace of production expansion. So, what is the digestibility of the downstream market of lithium electricity?

According to the incomplete statistics of Battery Network in mid-November, the total planned capacity of domestic power battery competitiveness TOP10 enterprises has been close to 2.1TWH! Diaphragms account for 15% to 30% of the cost of lithium-ion batteries. Based on the diaphragm demand of about 15 million tons for 1GWh lithium batteries, 2.1TWh needs 31.5 billion tons of diaphragm capacity.

Notably, on December 8th, Honeycomb officially announced at its second Battery Day that the company had raised its global capacity target for 2025 for the third time, tripling its global capacity target from 200GWh in the first half to 600GWH. Just before Honeycomb Energy announced the increase, Ningde Times, China New Airlines, Yiwei Lithium Energy, Guoxuan Hi-Tech and others have also updated their capacity plans for 2025. With the substantial increase in power battery capacity planning in the future, the prospect of the diaphragm market is self-evident.

At the same time, 2025 is not the end. With the arrival of the carbon peak in 2030 and the date of carbon neutralization in 2060, green development has become the main theme of economic development now and even in the future. Under the dual-carbon goal, the rise of new types of energy storage and the continuous demand for consumer electronics are bound to bring huge increments to the lithium diaphragm.