Aiming at the energy storage market, Beitre Nano plans to invest 1.1 billion in the construction of lithium iron phosphate soft package battery project.

On the evening of April 12th, Baoan (000009) of China announced that the company's subsidiary, Shenzhen Beit Nano Technology Co., Ltd. (hereinafter referred to as "Beit Nano") plans to sign a "Project entry Agreement" with the Management Committee of Xiangyang High-tech Industrial Development Zone to invest in the construction and production of high-performance lithium-ion battery projects in Xiangyang High-tech Zone. Bertrand Nano plans to set up a subsidiary Hubei Beneng New Energy Technology Co., Ltd. (subject to final registration, hereinafter referred to as "Hubei Beneng") to invest in the construction and production of high-performance lithium-ion battery projects.

According to the announcement, the agreement for the project to enter the area shows that Beitre Nano has built a factory area to invest in high-performance lithium-ion battery projects in the former Beijing Guoneng Battery Technology Co., Ltd., with a total investment of 1.1 billion yuan. The construction of the project is divided into two phases, with an estimated investment of 500 million yuan in the first phase, and the second phase is expected to be built after the first phase of the project is fully produced.

Hubei Beneng is funded by assets and cash, of which the planned assets come from the debt-offsetting assets of Hubei Guoneng New Energy Co., Ltd. and Hubei Baote New Energy Technology Co., Ltd., mainly for lithium-ion battery equipment and installation costs. The total asset evaluation value is about 194 million yuan (including tax); the cash source is Bertrand Nano's own funds, the amount is 6 million yuan.

Hubei Beneng investment construction and production of high-performance lithium-ion battery project is located in Qichen Road, Xiangzhou District, Xiangyang City, Hubei Province, covering an area of 200 mu. The project is planned to be built in two phases. The first phase of the planned production capacity of 1.5GW, the production of 68Ah lithium iron phosphate soft package battery; the second phase of the planned production capacity of 2GWH, planning 80~260Ah lithium iron phosphate soft package battery. The product positioning of this project is the energy storage market, which not only optimizes the cost of product design and production, but also combines the advantages of Beitre Nano in the supply chain of lithium battery materials, and has a strong competitive advantage.

China's Baoan said that the purpose of this foreign investment is to invigorate Guoneng's debt-paying assets, fully grasp the national policy dividend of energy conservation and emission reduction, increase the company's profit point and broaden the company's business chain.

According to Battery Network, Beit Nano, a wholly owned subsidiary of China Baoan holding subsidiary Bertri (835185), was established in June 2009. it is committed to the research, development, production and sales of lithium-ion battery cathode materials for power and energy storage, based on the business of lithium iron phosphate, to develop high energy density cathode materials (high nickel materials, such as NCA, etc.).

China's Baoan mainly has three sectors: high-tech industry, biomedical industry and real estate, in which high-tech industry occupies a leading position, and Betteri, a leading company of positive and negative materials for lithium batteries, is the well-deserved "bellwether" of this plate.

According to Bertre's 2020 annual report, the company achieved 4.451 billion yuan in operating income for the whole year, up 1.41% from the same period last year. Specifically, the sales of negative materials were 75275.82 tons, achieving operating income of 3.151 billion yuan, sales and income increased by 27.61% and 7.57% respectively over the same period last year; sales of cathode materials were 21388.42 tons, achieving operating income of 1.042 billion yuan, and sales and income increased by 58.04% and 29.26% respectively over the same period last year. In the first quarter of this year, the company expects to achieve a net profit of 240 million-270 million yuan, an increase of 80.49% 103.06% over 133 million yuan in the same period last year.