Guanyu rechargeable lithium battery project -Lithium - Ion Battery Equipment

Guan Yujian rechargeable lithium battery project -Lithium - Ion Battery Equipment

On the evening of November 18, Zhuhai Guanyu (688772) threw out a plan for a 4 billion yuan lithium-ion power lithium battery project with an annual output of 10GWh.

According to reports, with the continuous expansion of the company's business scale and the increasing market demand, in order to better seize the market opportunities of power lithium batteries, further enhance the company's market competitiveness, and enhance the company's influence and comprehensive competition in the new energy industry. Power, Zhejiang Guanyu, a wholly-owned subsidiary of the company, plans to build a new lithium-ion power lithium battery project in Baibu Economic Development Zone, Haiyan County, Jiaxing City, Zhejiang Province (planning and construction of an annual output of 10GWh lithium-ion power lithium battery), with a total investment of no more than 4 billion Yuan (of which the investment in fixed assets is about 3.5 billion yuan), and the source of funds is self-owned or self-raised funds. The estimated construction period is 36 months (2022-2025).(Lithium - Ion Battery Equipment)

The announcement shows that Zhejiang Guanyu has signed the "Project Investment Agreement" with the Haiyan County People's Government and the Management Committee of Zhejiang Baibu Economic Development Zone on November 18; the investment is not a related-party transaction or major asset restructuring.

"This investment is in line with the company's development strategy, and is conducive to expanding the company's power lithium battery business, enhancing the company's influence and comprehensive competitiveness in the new energy industry, and bringing a positive impact on the company's future development. The investment is expected to be completed in 2022. The start of construction will not have a significant impact on the company's financial status this year." Zhuhai Guanyu said.

The prospectus disclosed that Zhuhai Guanyu's important products are polymer soft-pack lithium-ion batteries, which can be divided into consumer lithium-ion batteries and power lithium-ion batteries according to downstream applications. The company's consumer lithium-ion battery products include cells and pACKs, which are used in notebook computers, tablet computers, smartphones, smart wearable devices, and consumer drones. The company's power lithium-ion battery products include cells, modules and pACKs, which are mainly used in automotive start-stop systems and electric motorcycles.

From the perspective of business structure, from 2018 to 2020, the sales revenue of the company's consumer lithium-ion batteries accounted for 99.78%, 99.85%, and 99.84% of the current main business revenue, respectively.

During the same period, the company's power lithium-ion batteries are in the stage of R&D and trial production, and have not yet formed mass production, accounting for 0.22%, 0.15%, and 0.16% of the current main business income, respectively. In addition, the company's power lithium battery business is mainly carried out by the wholly-owned subsidiary Guanyu Power Lithium Battery. Guanyu Power Lithium Battery has continued to lose money since its establishment in 2019. The net profit in 2019 and 2020 was -884,600 yuan and -126,285,800 yuan respectively. .

In this regard, Zhuhai Guanyu explained that the power lithium battery industry is an asset-heavy and capital-intensive technology manufacturing industry, and there is a large demand for early-stage assets and R&D investment, but there are great uncertainties in the transformation of R&D achievements and market development. In addition, the power lithium battery industry is highly competitive. If the company cannot gain a competitive advantage through product performance, technical strength and other factors in the future, it will lead to the risk of continuous losses in the company's power lithium battery business in the future.

According to the reporter's understanding, Zhuhai Guanyu landed on the Science and Technology Innovation Board on October 15 this year, and it has just been one month. The company's IPO raised 3.249 billion yuan and plans to invest in the Zhuhai polymer lithium-ion battery production base construction project, the Chongqing lithium-ion battery cell packaging production line project, and the R&D center upgrade construction project.



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