On the evening of October 10th, Greene Mae (002340) announced that the company and ECOPRO BM CO., LTD., a subsidiary of Korea ECOPRO Co., Ltd. A memorandum (MOU) was recently signed on the supply of NCA&NCM high-nickel precursor materials for power batteries from 2024 to 2026. According to the memorandum, the company will supply a total of 650000 tons of NCA&NCM high-nickel ternary precursor materials to ECOPRO BM from 2024 to 2026.
According to the announcement, from 2024 to 2026, the total supply of high nickel ternary precursors (NCA& NCM) for Grimmei new energy power batteries will be 650000 tons. Of this total, 150000 tons in 2024 and 250000 tons in 2025 will maintain growth in 2026 on the basis of ensuring 250000 tons in the previous year.
Battery Network noted that in April this year, in order to ensure the implementation of the company's production and sales target for 2021-2023 and lock the order expectation, Greenmi and ECOPRO BM recently signed a memorandum on the supply of NCA&NCM high-nickel precursor materials for new energy power batteries for 2021-2023. According to the memorandum, Grimme will supply ECOPRO BM with a total of not less than 176000 tons of NCA&NCM high-nickel ternary precursor materials from 2021 to 2023. Among them, not less than 30,000 tons in 2021, 73000 tons in 2022, maintain growth on the basis of ensuring 73000 tons in 2023, the specific future procurement contracts shall prevail.
ECOPRO is the world's leading manufacturer of high-nickel ternary positive electrodes for power batteries and the core supplier of high-nickel positive electrodes for global battery leaders such as Samsung SDI and SKI. Through its deep binding with ECOPRO, Grimme has been fully introduced into the world's leading battery factories through the strategic supply chain of "ECOPRO-- Samsung SDI/SKI", and through this memorandum of understanding, it has further deepened its cooperation and locked in advance the huge orders of more than 800000 tons of ECOPRO in the next six years.
Greenmi said that the signing of a memorandum of supply of 650000 tons of NCM and NCA high-nickel ternary precursors from 2024 to 2026, locking in ahead of time the international mainstream market orders and sales performance expectations for 2024-2026 high-nickel ternary precursors, is another major strategic cooperation between the company and ECOPRO BM after signing a memorandum of supply of 2021-2023 NCA&NCM high-nickel ternary precursors with a total supply of not less than 176000 tons in 2021. It will not only effectively promote the large-scale expansion of the manufacturing capacity of the company's NCM and NCA high-nickel ternary precursor materials, provide a strong international market guarantee for the implementation of the company's long-term goal of producing and selling 400000 tons of ternary precursor products by 2025, further establish the company's core position in the global market of high-nickel ternary precursor materials, and greatly increase the global market share of the company and both NCM high-nickel and NCA ternary materials. Help the company to build the world's core power battery raw materials and high-nickel ternary precursor material manufacturing base.
It is reported that in the first half of this year, Grammy's operating income reached 8 billion yuan, an increase of 42.51 percent over the same period last year, and its net profit was 537 million yuan, up 151.1 percent over the same period last year. In the first half of the year, the shipments of ternary precursor materials of the company's core products exceeded 42000 tons (sales revenue was 3.033 billion yuan), a sharp increase of 190% over the same period last year (sales revenue increased by 132.13%), ranking among the top three in the global market. Among them, the export of ternary precursor materials exceeded 15000 tons, an increase of more than 110% over the same period last year. The company shipped nearly 8500 tons of battery-grade cobalt tetroxide (sales revenue 1.782 billion yuan), an increase of 41.67% over the same period last year (sales revenue increased by 95.20%), ranking among the top three in the global market; the company shipped nearly 4900 tons of cathode materials, achieving stability and growth.
According to the latest research report of Everbright Securities, as of the first half of this year, the total production capacity of Greenwich Ternary precursors was 130000 tons per year, with shipments of 42000 tons, an increase of 190% over the same period last year. In the first half of the year, the company's 8-series and above high-nickel shipments accounted for more than 50%, 9-series ultra-high nickel sales accounted for more than 40%, and the gross profit margin of ternary precursor products was 25.63%, ranking first in the industry. The company's "Jingmen + Taixing + Fu'an" one main and two pairs precursor base, the production capacity of ternary precursors will exceed 200000 tons / year by the end of 2021. The signing of this memorandum provides a guarantee for the realization of the company's long-term goal of producing and selling 400000 tons of precursor products in 2025 and the digestion of new production capacity, which is conducive to increasing the company's global market share of high-nickel ternary precursors.
