Fuquan Chuanheng Recruitment

The data shows that the proportion of lithium iron phosphate batteries in the power market is expected to exceed 40% by the end of this year, and the year-on-year growth of 202 1 year shipments is expected to exceed 200%.

The momentum of lithium ferrous phosphate is like a rainbow, and the high prosperity of the market has attracted all kinds of capital to flock in.

350 billion leading cross-border entry

Recently, the Management Committee of Meishan High-tech Industrial Park made the first environmental impact assessment announcement on Wanhua Chemical (Sichuan) Co., Ltd.' s "Integrated Project of Cathode Materials for Lithium Ferrophosphate Battery with an Annual Output of 50,000 Tons", which includes 50,000 Tons of Iron Phosphate and 50,000 Tons of Lithium Ferrophosphate.

Wanhua Chemical, formerly a leather factory, has been transformed, with a compound annual growth rate of more than 30%, becoming a chemical giant that can benchmark BASF in Germany. Its business covers four industrial clusters: polyurethane, petrochemical, fine chemicals and emerging materials. Service industries mainly include: life and home, sports and leisure, automobile transportation, construction industry, electronics and electricity, personal care and green energy.

In the first half of this year, Wanhua Chemical achieved an operating income of 67.657 billion yuan, a year-on-year increase of 65,438+06,5438+08.95438+0%; The net profit attributable to shareholders of listed companies was 65.438+03.530 billion yuan, a year-on-year increase of 377.438+0%.

In fact, Wanhua Chemical has already cut into the field of lithium battery materials. In April last year, Wanhua Chemical Co., Ltd. pocketed 0/00% equity of Zhuoneng Lithium Battery/KLOC.

After the acquisition of lithium battery materials, Wanhua Chemical began to expand the production capacity of ternary cathode materials. Last year, it invested 11.60 billion yuan to build ternary cathode materials for lithium batteries with an annual output of110,000 tons. It is expected to be completed and put into operation by the end of 2026, 5438+0.

From the perspective of layout logic, Wanhua Chemical chose to enter the field of lithium battery materials, which is conducive to expanding the diversified product portfolio and accelerating the strategic needs of the company's transformation into a new chemical material industry.

According to the current market environment, Wanhua Chemical has chosen lithium ferrous phosphate as a part of its new business, and still has a chance to taste the industry dividend. But according to the current market capacity planning and the frequency of capital influx, everything is still uncertain.

As of the close of 17 in September, Wanhua Chemical reported 1 12.03 yuan/share, up by 0.58 yuan/share, or 0.52%, with a total market value of 35 17 billion yuan.

Lithium iron phosphate battery pursued victory

According to the data of China Automotive Power Battery Innovation Alliance, in May this year, the domestic output of lithium iron phosphate batteries reached 8.8GWh, up 3 17% year-on-year, accounting for 64% of the total output, surpassing the first appearance of 5.0GWh ternary batteries; In the first five months, lithium iron phosphate batteries accumulated 29.9GWh, accounting for 50% of the total output, and accumulated 29.9GWh, accounting for 50% of the total output.

Since then, lithium iron phosphate batteries have opened the road of "crazy abuse" of ternary batteries.

In the next 6-8 months, the output of lithium iron phosphate battery is greater than that of ternary battery, so it can be predicted that the output of lithium iron phosphate battery will exceed that of ternary battery in 20021year!

In terms of installed capacity, in July, the installed capacity of lithium iron phosphate battery exceeded ternary battery for the first time in nearly three years. In August, the ternary battery was loaded with 5.3GWh, down 2. 1% from the previous month. The lithium iron phosphate battery was loaded with 7.2GWh, an increase of 24.4% from the previous month.

This shows that lithium iron phosphate battery will make further efforts in the second half of the year, and the installed power, output and growth rate will greatly exceed that of ternary battery.

In addition to the two advantages of lower raw material cost and higher safety, technological progress and the increase of lithium iron phosphate batteries have contributed to catching up with lithium iron phosphate batteries.

On the technical level, the mainstream battery enterprises represented by CATL, BYD and Guo Xuan Hi-Tech have developed CTP, blade and JTM technologies respectively, which have improved the problem of insufficient battery life.

In terms of vehicle route selection, data show that at present, the main models of lithium iron phosphate batteries have been launched by the main engine plants including BYD, Tesla, BAIC, GAC, Great Wall, Dongfeng, SAIC, Chery, Chang 'an, Jianghuai, He Zhong, Tucki and Zero Run, and lithium iron phosphate batteries will be released one after another in the second half of the year, and most of them will explode all year round, which will further enhance the installed capacity of lithium iron phosphate batteries and even surpass the three yuan, thus expanding the competitive advantage.

In addition, in 2020, the market of low power (including sharing motorcycles and changing electricity) will be driven by both export and domestic demand, of which iron-lithium batteries will account for about 30%.

At the same time, driven by the overseas home storage market and the increase in energy storage shipments on the base station side, the shipments of lithium energy storage batteries increased by more than 50% year-on-year, and basically all lithium iron batteries were used.

Driven by multiple favorable factors, the market space of lithium iron phosphate battery has been further opened, and international battery giants have felt some pressure, thus re-examining the technology of lithium iron phosphate battery.

South Korean media "ELEC" reported that LG Energy, which specializes in ternary technology route, began to develop lithium iron phosphate battery technology at Daejeon Laboratory in South Korea at the end of last year, and it is expected that the pilot line will be completed as soon as 2022.

In addition, LG Chem, the parent company of LG Energy, will also participate in the lithium iron phosphate battery business, or set up a joint venture with its China partner later to provide raw materials for LG Energy to produce lithium iron phosphate batteries.

3 billion projects landed.

The rapid increase in the capacity of lithium iron phosphate batteries has pushed up the market price of lithium iron phosphate. According to the monitoring data of the business community, as of September 15, the average price of domestic top power products of lithium ferrous phosphate is 60,000 yuan/ton, and it is expected that lithium ferrous phosphate will rise steadily in the short term.

Under the strong market demand, many enterprises have announced the layout of lithium ferrous phosphate projects.

Chuanheng stock

On September 16, Chuanheng Co., Ltd. announced that the company and Fuquan Municipal People's Government intend to sign a project investment cooperation agreement to invest in the construction of a "mineralization-integration" new energy material recycling industry project in Fuquan City.

The total investment of the project is 654.38+0 billion yuan, which will be built in two phases. A total of 800,000 tons/year battery-grade iron phosphate production line, 300,000 tons/year battery-grade iron phosphate production line (including the previously announced/kloc-0,000 tons/year iron phosphate project) and 40,000 tons/year lithium hexafluorophosphate project will be built.

Among them, the project includes a 500,000-ton/year iron phosphate project jointly built by Chuanheng Company and Guo Xuan Group.

Chuanheng Co., Ltd. has formed a phosphorus chemical recycling economy industrial group integrating mining, phosphate product production, phosphorus chemical technology innovation, development and utilization of associated resources, phosphogypsum building materials, phosphorus nutrition technical services and product sales. The production and sales capacity is about 600,000 tons/year.

The semi-annual report shows that Chuanheng Co., Ltd. achieved a total operating income of 10 1 billion yuan in the first half of the year, a year-on-year increase of 25%; The net profit of returning to the mother was 654.38 billion yuan, a year-on-year increase of 26.4%.

The report also pointed out that Chuanheng has completed the acquisition of mining rights and related assets of Xinqiao Phosphate Mine and Jigongling Phosphate Mine, and directly holds three mining rights of Xiaoba Phosphate Mine, Xinqiao Phosphate Mine and Jigongling Phosphate Mine through its subsidiary Fulin Mining, with a total recoverable reserve of about 65.438+0.6 billion tons, and the annual output of Xiaoba Phosphate Mine and Xinqiao Phosphate Mine can reach 3 million tons.

In addition, the mining right of Laohudong Phosphate Mine held by Tianyi Mining, a subsidiary of Chuanheng Co., Ltd., has a reserve of about 370 million tons and a design and production scale of 5 million tons/year. At present, infrastructure construction is under way.

Sheng Bang Group

Recently, Hunan Sheng Bang Industrial Holding Group Co., Ltd. (hereinafter referred to as "Sheng Bang Group") signed a contract with Ningxiang High-tech Zone to settle in the lithium ferrous phosphate project, with a total investment of 654.38+0.2 billion yuan to build a lithium ferrous phosphate project with an annual output of 200,000 tons, and 40 production lines will be laid out.

The project cooperates with Central South University in all directions, and the product market is mainly oriented to the top domestic battery enterprises such as Contemporary Ampere Technology Co., Ltd. and BYD. After the project is completed, the estimated annual output value is 654.38+0.00 billion yuan.

Sheng Bang Group was established on 1998. Mainly engaged in real estate development, large-scale wholesale market development and operation, hotel management, logistics center, cultural tourism and other projects, the layout of lithium ferrous phosphate project is the first step of the group's industrial transformation.

Wu Xia New Energy

On the evening of September 16, Xiamen Tungsten Xinneng announced that the company and Ya 'an Economic Development Zone had signed the Letter of Intent for Investment in Lithium Ion Cathode Material Project. The company plans to invest in the construction of lithium-ion cathode material project in Ya 'an Economic Development Zone, and the estimated investment intention is not less than 654.38+0 billion yuan.

According to the investment letter of intent, the project plans to invest 65,438+10,000 tons of lithium ferrous phosphate and 60,000 tons of ternary materials. This is also the tens of billions scale project that Wu Xia New Energy just launched in science and technology innovation board more than a month ago.

Xiamen Tungsten Industry Xinneng relies on its parent company, Xiamen Tungsten Industry, and specializes in cathode materials for lithium-ion batteries. In terms of customer structure, it is in the field of 3C lithium batteries, including ATL, Samsung SDI, LGC, Murata, BYD, Xinwangda and Zhuhai Guanyu. Power lithium battery field, including BYD, Panasonic, Contemporary Ampere Technology, AVIC lithium battery, Guo Xuan Hi-Tech, etc.

Xia Tungsten Xinneng pointed out that this letter of intent for investment is only an intentional cooperation document between the two parties, and the specific implementation is uncertain. Moreover, this letter of intent for investment involves the phased implementation of the project, which does not have a significant impact on the financial indicators such as total assets, net assets, operating income and net profit of the company and Xia Tungsten New Energy this year.

It is worth noting that as of June 65438+February 3, 20201,the monetary fund balance of Xiawu New Energy is 278 million yuan, and the total investment of the projects involved in this investment letter of intent is expected to be 1000 billion yuan, which is much higher than the company's current book capital level.

abstract

The industrial chain of lithium phosphate battery is phosphate rock-industrial grade phosphoric acid/monoammonium phosphate-iron phosphate-lithium ferrous phosphate anode-lithium ion battery.

Based on this, it has become a common choice for many chemical enterprises to make use of the original phosphate resources and phosphorus chemical industry to integrate the industrial chain and cross-border investment in the layout of iron phosphate and lithium ferrous phosphate materials projects.

In terms of phosphorus chemical enterprises, in addition to Chuanheng, enterprises include Chuanfa Longman, Longpan Technology, Chuanjinnuo and Xinyangfeng. Cross-border investment in the construction of iron phosphate and lithium ferrous phosphate materials has been announced.

In terms of titanium dioxide enterprises, Longbai Group, CNNC Titanium Dioxide, Annanda and other enterprises also announced cross-border investment in the construction of iron phosphate and lithium ferrous phosphate materials projects.

With the increase of cross-border players, the market is bound to face more intense competition. However, battery enterprises and material enterprises have formed a "preemptive advantage" in the coordination of products, technologies and industrial chains, and the first thing new entrants have to face is being "selected".

More importantly, large-scale expansion will inevitably lead to overcapacity, and it is really difficult to draw a conclusion whether cross-border enterprises can share a piece of it at that time.