Focus on new energy polyfluorofluoride to build 20GWh lithium battery project in Nanning

On the evening of May 24th, Duofuoduo (002407) announced that due to the needs of the company's actual production, operation and development strategy, the company's name would be changed to "Polyfluoroduo New Materials Co., Ltd." and the company's legal representative would be changed to "Li Yunfeng".

Dofudo said that according to the situation of production and operation, the development strategy has been adjusted timely, relying on the existing core resources, focusing more on advantageous industries, highlighting innovation to lead and focus on the "sticking neck" project, and giving full play to the advantages of core technology. realize the development from basic materials to new energy materials and electronic information materials, and do a good job in the new materials industry. At the same time, we will continue to strengthen the coupling and coordination of various business sectors, solve the problems in innovative development with innovative thinking, and deeply integrate fluorosilicon basic materials, new energy materials, semiconductor materials and digital intelligent manufacturing, to create a national industrial ecology of high-end, green and intelligent new materials. In order to match the company name with the company's main business and development strategy, but also to guide investors to accurately understand the company's business and strategy, and to protect the rights and interests of investors, it is proposed to change the company name.

On the same day, in order to expand and strengthen the company's market and business layout in South China, enhance the R & D, production and operation capacity, expand the enterprise scale, and enhance the company's overall strength and market competitive advantage, Polyfluoroduo signed the Lithium Battery Project Investment Framework Agreement with the people's Government of Nanning City and Qingxiu District, and the three parties jointly invested in the establishment of Nanning Project Company to cooperate in the construction of lithium battery project. Relying on its own intellectual property rights and patented technology, we will build 20GWh lithium battery project and produce lithium battery and related supporting products.

Duofudo and Nanning Industry Investment Science and Technology Innovation Investment Co., Ltd. (wholly-owned subsidiary of Nanning Industrial Investment Group Co., Ltd and designated institution of Nanning Municipal people's Government, hereinafter referred to as "Nanning Branch Venture Capital"), Guangxi Nanning Shengning Investment Group Co., Ltd. (designated by the people's Government of Qingxiu District, Nanning City, Hereinafter referred to as "Shengning Investment"), Guangxi Ningxin Poly Lithium Investment Partnership (Limited Partnership) (hereinafter referred to as "Ningxin Poly Lithium") signed the "Lithium Battery Project Investment Cooperation Agreement".

The agreement shows that in terms of industrial investment funds, Nanning Science Venture Capital and Shengning Investment jointly set up an industrial investment fund with a scale of 600 million yuan, that is, Nanning Kesheng Energy Power Investment Fund Partnership (tentatively named, finally subject to the approval of the market regulatory department, hereinafter referred to as the "industrial investment fund"), and the industrial investment fund is contributed 300 million yuan each by Nanning Venture Capital and Shengning Investment.

The Industrial Investment Fund, Polyfluoroduo and Ningxin Poly Lithium jointly funded the establishment of Guangxi Ningfu New Energy Technology Co., Ltd. (tentatively named, subject to the approval of the market regulatory department, hereinafter referred to as "Nanning Project Company"), relying on its own intellectual property rights and patented technology, the construction of lithium battery projects, mainly producing lithium batteries and related supporting products.

The registered capital of Nanning Project Company is 590 million yuan, of which Nanning production and Investment Science and Technology Innovation Investment Co., Ltd. and Guangxi Nanning Shengning Investment Group Co., Ltd. initiated to set up an industrial investment fund, with 290 million yuan subscribed by the industry investment funds, 270 million yuan subscribed by the company, and 30 million yuan subscribed by Guangxi Ningxin Poly Lithium Investment Partnership (limited partnership).

In the construction of 20GWh lithium battery project, the project is divided into three phases: the first phase has a production capacity of 5GWH, the second phase has a planned capacity of 5GWH, and the third phase has a planned capacity of 10GWh. Among them, the first phase of the project will build about 100000 square meters of factory buildings and public facilities in the first and second phases of the project, and strive to start construction before June 30, 2021, complete the main project construction and have equipment installation conditions by December 31, 2021, and put into production by June 30, 2022.

The construction of the second phase of the project will be started after the utilization rate of the first phase of production capacity reaches 70%. The scale of the second phase of the plant is about 80,000 square meters, and Party C will complete the construction of the agent within 6 months (with the conditions for installation and construction within the factory area and the factory building). Strive to put into production within 6 months; after the first and second phases achieve the expected benefits, start the construction of the third phase of the project according to market conditions.

Duofudo said that the purpose of this foreign investment is to rely on the company's rich industry experience, technology accumulation and brand influence, and to make full use of the resources, talents, transportation and policy advantages of the Guangxi region to cultivate the company's main business, enhance the R & D, production and operation capacity, expand the enterprise scale, and enhance the company's overall strength and market competitiveness. At the same time, we will promote the optimal allocation of social resources, strengthen corporate management, innovate business models, and enhance multi-fluorine and multi-core competitiveness.

Battery Network also learned from the performance presentation held a few days ago that the company currently has a lithium battery capacity of 3.5 GWH and has more than 10 years of accumulation of ternary soft package technology. In terms of products, the company is planning the technical route of lithium iron phosphate and has a technical team with cylindrical and square batteries.

It is understood that the operating income of Polyfluoroduo reached 4.209 billion yuan last year, an increase of 6.26% over the same period last year. The net profit belonging to shareholders of listed companies was 48.6223 million yuan, a substantial increase of 111.84% compared with a loss of 411 million yuan in 2019. Among them, the revenue of lithium battery products is 399 million yuan, and that of new materials products is 1.056 billion yuan.

In addition, due to the strong market demand for related products in the polyfluorine and new materials plate, prices continue to rise, the company is currently in a state of full production and sales, and the profit is obvious. In the first quarter of this year, the company achieved operating income of 1.239 billion yuan, an increase of 50.79% over the same period last year. The net profit belonging to shareholders of listed companies was 93.2649 million yuan, an increase of 7448.21% over the same period last year.