On the evening of February 14th, Yongtai Technology (002326) announced that the company had made a business transformation to Zhejiang Yongtai New Energy Materials Co., Ltd. (referred to as "Yongtai New Energy") and planned to invest in the construction project with an annual production capacity of 150000 tons of electrolytes. the total investment of the project is 400 million yuan.
Electrolyte is one of the important components of lithium-ion battery, which plays a role of conducting electrons between the positive and negative electrodes of lithium-ion battery, and has a great influence on the performance of lithium-ion battery, so it is the "blood" of lithium-ion battery. With the rapid development of new energy industry, the market demand of electrolyte is growing rapidly.
Yongtai Technology was founded in 1999, the company's main business is fluorine-containing fine chemicals as the core, the main products are divided into three categories according to terminal applications, including pharmaceuticals, pesticides, lithium batteries and other materials.
Among them, in terms of lithium battery materials, Yongtai Technology's products mainly include difluorosulfonimide lithium (LiFSI), lithium hexafluorophosphate, fluoroethylene carbonate (FEC) and so on. At present, Yongtai Technology has two holding subsidiaries of lithium battery materials, namely Yongtai Hi-Tech and Inner Mongolia Yongtai.
Among them, Yongtai Technology holds a 75% stake in Yongtai Hi-Tech, whose main products are lithium hexafluorophosphate, lithium difluorosulfonimide and other lithium battery materials. In November, Yongtai Technology announced that its shareholders planned to transfer its 25% stake to Ningde era for 500 million yuan. On January 12 this year, Yongtai Gaoxin experienced industrial and commercial changes, with Ningde Times, a new shareholder, with a stake of 25%. At this point, Ningde era is the second largest shareholder of Yongtai Gaoxin.
Inner Mongolia Yongtai is a 100% subsidiary of Yongtai Technology Holdings, and its main products are fine chemicals.
In terms of production capacity, Yongtai Technology has respectively laid out lithium salt lithium hexafluorophosphate, lithium difluorosulfonimide and additives VC, FEC and other electrolyte core raw materials in two major production bases in Fujian and Inner Mongolia, this decision to layout the field of electrolyte, in fact, to optimize the strategic layout, concentrate superior resources to develop lithium materials plate, form a relatively perfect electrolyte industry chain, and consolidate the company's industry position and market share.
Specifically, Yongtai Technology Lithium hexafluorophosphate has been put into production of 8000 tons / year, VC products have been put into production of 5000 tons / year, and FEC products have been put into production of 3000 tons / year.
According to the project construction announcement disclosed by Yongtai Technology, the main products of lithium battery materials will form the following capacity scale in the next 3 years:
1. Lithium hexafluorophosphate: 8000 tons / year solid, 67000 tons / year liquid.
2. Lithium difluorosulfonimide: solid 900t / year, liquid 67000 t / yr.
3. VC:30000 tons / year.
4. FEC:8000 tons / year.
In terms of orders, in August last year, Yongtai Technology signed a "material purchase Agreement" with Ningde Times, which agreed to purchase lithium hexafluorophosphate, lithium difluorosulfonimide and vinylidene carbonate (VC) products from the company for a supply period of up to 5 years.
In terms of performance, Yongtai Technology expects to achieve a net profit of 280 million to 420 million yuan in 2021, an increase of 133.33 percent to 249.99 percent over the same period last year, and an estimated deduction of 380 million yuan to 560 million yuan in non-net profit, an increase of 5177.78 percent and 7677.78 percent over the same period last year.
On the secondary market, as of February 15, Yongtai Technology reported 32.14 yuan per share, up 1.04 yuan per share or 3.34%, with a total market capitalization of 28.173 billion yuan.
