The sales price of lithium hexafluorophosphate reached a new high and the net profit of polyfluorodo increased nearly 25 times year on year last year.

On the evening of March 21, Dofudo (002407) disclosed its annual report that in 2021, the company realized operating income of 7.799 billion yuan, an increase of 85.29% over the same period last year, and net profit of 1.26 billion yuan, an increase of 2490.80% over the same period last year. The company intends to distribute a cash dividend of 3.00 yuan (including tax) to all shareholders for every 10 shares.

Unit of main accounting data and financial indicators of Dofurdo in 2021: yuan

For the surge in performance in 2021, Dofudo said that the company's new materials business sector is in a trend of sustained growth, with strong market demand for new material products represented by lithium hexafluorophosphate, and new sales prices ushering in new highs; new production capacity has exceeded expectations and products are in short supply. The company has a certain amount of reserves for the raw materials of the products, and some product purchase and sales agreements have a corresponding linkage mechanism for the purchase price of raw materials and the sales price of products, which effectively avoids the adverse effects of the rise in the price of some raw materials. At the same time, through technology update iteration, improve the conversion rate of raw materials and other measures to achieve cost reduction and efficiency, ensuring a strong profitability.

According to the announcement, Polyfluoroduo is mainly engaged in R & D, production and sales in the fields of high-performance inorganic fluoride, electronic chemicals, lithium-ion batteries and materials. Among them, in terms of new materials, the company's main products include lithium hexafluorophosphate and new electrolytes and electronic chemicals.

It is reported that by the end of 2021, Polyfluoroduo already has a production capacity of 20000 tons of high-purity crystal lithium hexafluorophosphate, and plans to build a new production capacity of 35000 tons in 2022, with a total production capacity of 55000 tons by the end of the year, achieving sales of 3.5-40 million tons; in addition, the company now has an annual production capacity of 50, 000 tons of electronic-grade hydrofluoric acid, including 10, 000 tons of semiconductor class, which has been exported in bulk. Semiconductor hydrofluoric acid is mainly used in integrated circuits, liquid crystal display and semiconductors, while photovoltaic hydrofluoric acid is mainly used in the field of photovoltaic solar cells.

In addition, Dofuoduo said that with the successful research and development of the new technology route, the production cost of difluorosulfonimide lithium (LIFSI) began to drop significantly. Under the demand environment of high energy density and high safety of power batteries, the competitiveness of difluorosulfonimide lithium will be reflected and ushered in development opportunities. As a new electrolyte additive, lithium difluorophosphate can significantly improve the high temperature cycle performance and low temperature output characteristics of the battery, and has a broad market prospect. The company plans to build 10000 tons of lithium difluorosulfonimide and lithium difluorophosphate each through a non-public offering project. At the same time, the company also has technical reserves and research and development of a variety of electrolytes, including sodium hexafluorophosphate. At present, sodium hexafluorophosphate products have been commercialized and mass produced.

In terms of lithium batteries, PFD is promoting iterative material upgrading, accelerating the R & D and production of square aluminum shells and cylindrical batteries, and accelerating the first phase of the subsidiary Guangxi Ningfu New Energy Lithium Battery Project to achieve 5GWh capacity by the end of 2022.

Everbright Securities said in a previous research report that Duofuoduo has signed long-term sales contracts with BYD, Funeng Technology, EnchemCo.,Ltd and other customers, and the sustainability of high performance is expected to be fully guaranteed. At the same time, the company's forward-looking layout of new lithium salt, technical level and production capacity are in the forefront of the industry, now has 1600 tons / year LiFSI capacity, planned annual production capacity of 40, 000 tons of LiFSI, 10, 000 tons of lithium difluorophosphate capacity, is expected to take the lead in opening up the growth space.

In addition, it is understood that on the evening of March 10, Polyfluorodo also disclosed a forecast of first-quarter results in 2022, and the company expects to achieve a net profit of 700-730 million yuan in the first quarter of 2022, an increase of 650.55% over the same period last year. 682.72%.

It is worth noting that on the same day, Duofudo also announced that in order to meet the needs of the company's capacity construction, the company and its subsidiaries signed a "Construction Engineering Framework Agreement" with Henan Fluoro-based Construction Engineering Co., Ltd. (hereinafter referred to as "fluorine-based Construction"). Fluorine-based Construction plans to undertake related projects and installation projects of the company, with an estimated total contract amount of 207 million yuan.

According to the agreement, the projects to be undertaken by fluorine-based construction include: the third phase of the lithium hexafluorophosphate project with an annual production capacity of 30000 tons; the key materials project for lithium battery electrolyte with an annual output of 100000 tons; the first phase of the project with an annual output of 30, 000 tons of ultra-clean and high-purity hydrofluoric acid; the third phase of the fluorine-phosphorus science and technology project; and the integrated warehouse of the multi-fluorine and multi-new materials company. Hina new materials annual output of 10000 tons of high-purity crystal lithium hexafluorophosphate project; Yangfu annual output of 10000 tons of high-purity crystal lithium hexafluorophosphate project; other projects.