Guoxuan wins a big order from Great Wall Motors -Lithium - Ion Battery Equipment

Guoxuan wins a big order from Great Wall Motors -Lithium - Ion Battery Equipment

On November 22, Guoxuan Hi-Tech (002074) announced that Hefei Guoxuan, a wholly-owned subsidiary of the company, and Great Wall Auto Parts Co., Ltd. recently signed the "2022 Procurement Framework Cooperation Agreement".

The agreement stipulates that the two parties determine that the total delivered electricity during the period from 2022 to 2025 shall not be less than 10GWh, of which the annual dimension in 2022 shall not be less than 2.5GWh. The dimension is the minimum constraint on both sides.(Lithium - Ion Battery Equipment)

Great Wall Parts is a wholly-owned subsidiary of the listed company Great Wall Motors. It is understood that among the new energy vehicles sold by Great Wall Motors, the electric charge ranges from 37KWh to 59.1KWh. If the above-mentioned purchase orders are all used for the new energy vehicles of Great Wall Motors, it can satisfy at least 169,200 vehicles and a maximum of 27 kilowatts in the next four years. Battery stowage demand for 10,000 Great Wall new energy vehicles. In 2022, the purchase volume can meet the battery demand of about 42,300-67,000 Great Wall new energy vehicles. Data show that in the first ten months of this year, Great Wall Motors sold about 98,000 new energy vehicles.

In June this year, Great Wall Motors set a goal of reaching 4 million vehicle sales in 2025, of which new energy vehicles accounted for 80%, which means that its sales of new energy vehicles will reach 3.2 million by then.

According to the latest market quotation budget, in the next four years, the total amount of products purchased by Great Wall Components from Guoxuan Hi-Tech will not be less than 7 billion yuan, of which the amount in 2022 will not be less than 1.7 billion yuan.

Guoxuan Hi-Tech stated that the procurement framework agreement signed by Hefei Guoxuan and Great Wall Auto Parts Co., Ltd. is based on the close cooperation relationship between the company and Great Wall Motor in supply and demand, which shows that Great Wall Motor has a strong understanding of the company's R&D capabilities, process technology, quality management, production and supply system. The signing of the agreement is conducive to strengthening the long-term and stable cooperative relationship between the company and Great Wall Motors.

It is reported that in the first three quarters of this year, Guoxuan Hi-Tech achieved revenue of 5.725 billion yuan, a year-on-year increase of 40.4%; net profit attributable to the parent was 67.8305 million yuan. The company's net cash flow from operating activities was 64.4595 million yuan, which was positive year-on-year, mainly due to the recovery of vehicle manufacturers.

In terms of installed capacity, in the first three quarters, Guoxuan Hi-Tech's installed capacity reached 4.72GWh, a year-on-year increase of 228%. While the growth rate outperformed the overall growth rate of the industry, the installed capacity exceeded that of all previous years. In September alone, its installed capacity was 0.64GWh, ranking among the top three in the industry for two consecutive months.

From the perspective of global installed capacity share, in the first nine months of this year, Guoxuan Hi-Tech's market share rose from 1.6% in the same period last year to 2.8%, and the installed battery capacity reached 5.6GWh, a year-on-year increase of 300%, far exceeding the global installed capacity of power lithium batteries 128% % increase.

Recently, Li Zhen, chairman of Guoxuan Hi-Tech, said at the event that Guoxuan Hi-Tech will produce 300GWh of batteries in 2025. In addition, the company has provided semi-solid batteries for domestic high-end pure electric vehicles, achieving a cruising range of over 1,000 kilometers.

Li Zhen said that the reduction of battery costs and the improvement of performance are the keys to promoting the development of electric vehicles. The production of automobile batteries consumes a lot of energy. Recently, the company has reduced the power consumption required to produce 1GWh batteries by about 50% through technical breakthroughs recently. At the same time, the company is also looking for other energy-saving production methods. For example, battery anode materials have the highest energy consumption of all materials, and the graphitization process of each 10,000-ton anode consumes 100 million kWh of electricity. Guoxuan Hi-Tech plans to form a 300GWh battery output by 2025. It takes 300,000 tons of negative electrode materials, that is, more than 3 billion kWh of electricity is consumed a year. The company plans to build a graphitized anode plant in Wuhai, and plans to use 40 square kilometers of land for solar power generation, which is exactly 3 billion kWh of electricity a year, which can meet all the negative polarization electricity needs of the company's graphitized materials.



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