Chuanjinnuo plans to produce 3.9 billion lithium iron phosphate and its supporting projects to accelerate the transformation of new materials industry.

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On December 22nd, Chuanjinuo (300505) announced that in order to seize the opportunity of the new energy market and make full use of the company's advantages in the phosphorus chemical industry, the company or its subsidiaries plan to invest in the construction of 150000 tons / year battery-grade lithium iron phosphate cathode material precursor iron phosphate and supporting 600000 tons / year sulfur sulphuric acid project, the total investment of the project is expected to be 1.5 billion yuan, 100000 tons / year battery-grade lithium iron phosphate cathode material project. The total investment of the project is expected to be 2.4 billion yuan.

It is reported that the project will be built in stages in the port area of Fangchenggang City, Guangxi, with a construction period of 12 to 48 months, and the project will be funded by the company itself.

The announcement shows that Chuanjinnuo, as a phosphorus chemical enterprise, has accumulated technology for many years in the phosphate rock-phosphoric acid-purification phosphoric acid industry chain and established a strong competitive advantage. The 100000 tons / year purified phosphoric acid of Guangxi Chuanjinnuo Chemical Co., Ltd., a subsidiary of the company, will be put into production in early 2022. Purified phosphoric acid can be used as the raw material for the preparation of iron phosphate and lithium iron phosphate, which gives the company a great advantage in the production of iron phosphate and lithium iron phosphate.

Chuan Jinnuo said that this foreign investment is based on the rapid development of the new energy industry, constantly optimizing the company's industrial structure, enhancing the company's market competitiveness, and extending the company's industrial chain, which is conducive to the transformation and upgrading of the company's phosphorus industry and optimize its industrial structure. to lay a solid foundation for the company to achieve the strategic goal of transformation and upgrading to fine phosphorus chemical industry and new energy materials related industries.

Battery Network learned that Chuanjinnuo is a high-tech enterprise specializing in phosphorus chemical industry. It was founded in June 2005 and was successfully listed on the IPO of Shenzhen Stock Exchange on March 15, 2016. Since the end of last year, the market for new energy vehicles and power batteries has been booming and improving for a long time. Chuanjinuo is speeding up the transformation of the new material industry with the help of its own industrial advantages. to build an integrated development pattern of wet purification of phosphoric acid-iron phosphate-lithium iron phosphate.

At the same time, in order to speed up the implementation of the development goals, Chuan Jinnuo has issued a number of progress announcements since the beginning of this year.

On the evening of November 18th, Chuanjinuo announced that according to the actual business needs and development strategic layout, the company plans to add the production and sales of "iron phosphate and lithium iron phosphate". In addition, according to the requirements of the Yunnan Provincial Market Supervision Administration on the standard expression of business scope query system, it is necessary to adjust the statement of the company's original business scope by Synchronize.

On November 9, Chuanjinuo announced that the company and the Port District people's Government of Fangchenggang City intend to sign the Project Cooperation Framework Agreement recently, and the two sides plan to give full play to their respective advantages. in Fangchenggang City, we will invest in the construction of "50, 000 tons / year battery-grade lithium iron phosphate cathode material iron phosphate and supporting 600000 tons / year sulfur sulphuric acid project" and "100000 tons / year battery-grade lithium iron phosphate cathode material project". At present, the subsidiaries of the company have obtained the "Guangxi Zhuang Autonomous region Investment Project filing Certificate" for the above-mentioned investment projects.

It is worth noting that recently, China Battery Industry Research Institute and research institutions EVTank and Ivy Economic Research Institute predicted that the sales of new energy vehicles in China will reach 3.5 million this year and 12 million in 2025; the installed capacity of lithium iron phosphate batteries will reach 80GWhh this year and 292GWhin 2025; and the global demand for lithium carbonate is expected to be about 540000 tons this year and 1.35 million tons in 2025. Driven by the rapid growth of demand in the field of new energy vehicles and energy storage, the demand for iron phosphate, the precursor of lithium iron phosphate cathode material, has increased. A number of listed phosphorus chemical companies, such as Yuntianhua (600096), Batian shares (002170), Chuan Heng shares (002895), Xingfa Group (600141) and so on, have announced the construction of lithium iron phosphate related projects into the new energy track to accelerate industrial transformation.