Invest 10 billion and produce 3 billion tons per year: Nantong Xingyuan Lithium Battery diaphragm Project starts

On the morning of February 8, according to the news released by Nantong, Jiangsu Province, the Nantong municipal party committee and municipal government held major project start activities in the first quarter of the city at the site of the Xingyuan lithium battery diaphragm project in Nantong Economic and technological Development Zone. According to reports, the Xingyuan lithium battery diaphragm project is invested and built by Shenzhen Xingyuan material Technology Co., Ltd. (referred to as "Xingyuan material", stock code: 300568). The project, with a total investment of 10 billion yuan, is divided into three phases, with an annual output of 3 billion m ²wet diaphragm and coated diaphragm.

The battery network learned that on May 25, 2021, Xingyuan material announced that it planned to invest in the R & D and production project of lithium battery diaphragm in Nantong Economic and technological Development Zone; on June 18, 2021, Xingyuan material issued a progress announcement on foreign investment, and the company signed an Investment Agreement with the Management Committee of Nantong Economic Development District. On June 22, 2021, Xingyuan material (Nantong) New material Technology Co., Ltd., a wholly-owned subsidiary established by the company, completed the industrial and commercial registration procedures and obtained the business license issued by the Administrative examination and approval Bureau of Nantong Economic Development District.

What is worth paying attention to is that at present, the hot sale of new energy vehicles has led to a surge in demand in the field of power batteries and their subdivided materials. According to data released by the China Automobile Association a few days ago, the production and sales of new energy vehicles in China completed 3.545 million and 3.521 million respectively in 2021, an increase of 1.6 times over the same period last year, with a market share of 13.4%, 8 percentage points higher than that of the previous year. Experts from the China Automobile Association predict that the sales of new energy vehicles in China will reach 5 million in 2022, an increase of 42 percent over the same period last year.

Wu Hui, General Manager of Research Department of Yiwei Economic Research Institute / Director of China Battery Industry Research Institute, had previously predicted that the global demand for diaphragms for lithium batteries would reach 32.32 billion m ²in 2025 and 78.56 billion m ²in 2030. According to incomplete statistics, the total diaphragm planning capacity of the world's major enterprises in 2025 is 28.7 billion m ², and the main capacity expansion plans are concentrated in Chinese enterprises. Considering the capacity structure of dry diaphragm and wet diaphragm, as well as the capacity structure of head and tail enterprises, the effective capacity may be smaller. If there is no new capacity investment, the supply of the whole diaphragm industry will be tight.

Data show that at present, 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. According to the plan, the company will have a production capacity of 6 billion tons of diaphragm basement membrane in 2025.

Soochow Securities latest research report analysis, by the end of 2021, Xingyuan material diaphragm production capacity 1.5 billion m ²full production full pin, in which the company wet process base membrane production capacity of about 900 million m ², dry process Shenzhen base of nearly 200 million m ²capacity stable production, Jiangsu base capacity of all put into production, coating, the company's Jiangsu base is divided into two phases of construction, a phase of 30 lines, corresponding to 600 million m ², phase II 20 lines, corresponding to 400 million m ², has all been put into production. Changzhou, Sweden will further expand the dry process, wet production capacity, Sweden base planning 700 million m ², a phase of 90 million m ²coating capacity to start construction, will start gradually put into production in 2023, the domestic capacity will be planned to start 800 million m ², will start to put into production in 2022.

At the same time, Soochow Securities estimates that the diaphragm shipment of Xingyuan material in 2021 is expected to exceed 1.1 billion m ², a year-on-year increase of nearly 60%; in the second half of 2022, the company's new dry and wet production capacity is expected to be more than 1.7 billion m ², an increase of more than 50% over the same period last year; capacity release in 2023, growth acceleration, estimated shipments of more than 2.5 billion m ², year-on-year + 47%. In order to meet the needs of downstream customers, the company plans to raise no more than 6 billion yuan to increase production capacity, and the follow-up share is expected to be further increased.

In addition, Xingyuan material recently introduced on the investor interactive platform that the company has successively provided diaphragm products with comprehensive leading advantages for leading lithium-ion battery manufacturers at home and abroad, such as Ningde Times, BYD, Guoxuan Hi-Tech, AVIC Lithium, LG Chemistry, Samsung SDI, Murata, Japan, and so on. New energy vehicle is the most important terminal application field of power battery. with the rapid growth of new energy vehicle market, it will drive the rapid growth of the whole lithium-ion battery separator industry.

In addition, according to the previous performance forecast issued by Xingyuan material, the company expects to achieve net profit attributable to listed companies of 280 million-290 million in 2021, an increase of 131.1%, 139.35% over the same period last year. Xingyuan material said that the development trend of lithium diaphragm industry is good, and the company has sustained and stable development. In 2021, the market demand for the company's products is strong, the capacity release effect is significant, and the net profit continues to grow compared with the same period last year.