Guoxuan High Texture: New Energy Car Subsidy Surface Phosphate Charging Lithium Battery Market Turns

Guoxuan High Texture: New Energy Car Subsidy Surface Phosphate Charging Lithium Battery Market Turns

In the evening of August 28, the power lithium battery company Guoxuan Gaoke Co., Ltd. (hereinafter referred to as “Guoxuan High”, 002074) announced the 2019 half-year report.

During the reporting period, Guoxuan high-tech realized operating income of 360.7 billion yuan, up 38.36% year-on-year; achieved net profit of 350 million yuan, a year-on-year decline in 24.

86% year-on-year. On August 29, Guoxuan High-Tech held the 2019 Media Communication Conference..

Vice President of Guoxuanao, the secretary of the board of directors said that when the news reporter said, the overall shipments of Guoxuan’s high school in the first half of the year were about 3GWH, which sharply increased significantly from the same period last year, but net profit and gross profit margin decreased.. In recent years, it has been affected by the subsidy of the new energy vehicle industry.

The decline in battery products and materials sales is large. For example, battery products have been sold average price of 1.2 yuan / WH last year.

In the first half of this year, within 1 yuan / WH. However, as the price fluctuations tend to ease, the company’s gross profit and net profit should tend to stabilize 2020..

He mentioned that due to the release of 1 billion yuan of green bonds last year, the interest expenses increased during the reporting period, which made the financial expenses added more than last year.. In addition, in the first half of 2018, Guoxuan’s high-tech obtained government subsidies about 100 million yuan, and benefit from 50 million yuan by selling Suzhou Guoxuan, not often profit and loss.

. Guoxuan high-class important business includes two major sections of new energy power lithium batteries and power distribution equipment. According to the report, Guoxuan’s high school has achieved operating income of 3279 billion yuan in the first half of the year, up 48.

72% year-on-year; gross profit margin is 30.35%, which reduces 2.12 percentage points from the same period last year.

. The transmission and transformation business achieves business income of 249 million yuan, down 25.19% year-on-year; gross profit margin is 14.

34%, which is reduced by 15.29 percentage points from last year..

In the field of power lithium battery, lithium iron phosphate ion batteries and ternary batteries are two mainstream technology routes. The ternary battery is higher than the phosphate ion battery energy density and has more strong traffic..

In recent years, under the influence of the passenger battery in the subsidy and energy density hook, most domestic power lithium battery manufacturers focuse in three yuan batteries. Guoxuan high-tech is a small number of power lithium battery companies that carry a phosphate ion battery..

At present, Guoxuan high-tech dynamic lithium battery products include power lithium-ion battery positive material, monomer lithium ion battery (battery), power lithium ion battery module, battery management system BMS, battery pack, etc.. Products are widely used in new energy vehicles such as pure electric commercial vehicles, passenger cars, logistics vehicles and hybrid vehicles, as well as energy storage power stations, communication base stations, scenery complementary, mobile power supply.

. Wealth Securities Income, 2019 new energy car subsidy policy announcement, industry gross margin. Cancellation of local subsidies in the field of passengers, the overall slope is about 60-67%.

Considering the safety of lithium iron phosphate and the economics brought by the long cycle, there is a strong application ability under the salap on the salap in the energy storage area.. According to national gold securities, it takes 400km and 250km battery models.

The comprehensive cost is 5600 yuan and 3500 yuan lower after lithium iron phosphate deducting subsidies.. Xu Xing, a senior vice president of Guoxuan High-class, has not believed that subsidies will greatly stimulate the lithium phosphate ion battery market recovery.

In June, due to the substantial resumption of new energy vehicles, the cost of cost of three yuan lithium-ion battery producers suddenly increase. Lithium iron phosphate cost, safety and battery life are better than the ternary lithium ion battery, and the lithium iron phosphate ion battery will get more market share..

Ma Guifu said, “Doing a refined iron, be strong, doing big energy storage” is the company’s current product strategy. In the first half of this year, the Quanxuan high-tech achieved approximately 14GWH, of which 10GWH is the output of power lithium-ion battery, 4GWH is a three-yuan battery production..

It is expected to reach 20GWH at the end of 2019, of which lithium iron phosphate ion batteries will accounted for 16GWH.. According to it, Guoxuan High School has made a certain breakthrough in several core technologies such as R & D and silicon-based negative electrode materials such as electrolyte additives in the first half of the year.

. The cellular energy density of lithium iron phosphate has exceeded 190Wh / kg and applied to the downstream customers such as Jianghuai Automobile, Chery New Energy. It is expected that the energy density is increased to 200Wh / kg at the end of 2019.

. At the same time, Guoxuan’s high-tech has also developed three-yuan 811 soft bag battery, energy density reached 302Wh / kg, and has passed the medium-term acceptance of the Ministry of Science and Technology, and some products will be launched in 2020..

The ternary 622VDA battery has also been produced, the monomer energy density exceeds 210Wh / kg, applied to Chery, Zhongtai, Cheetah and other customers. Regarding the future development of the company, Ma Guifu said that with the new energy subsidy, it will become a core element of the development of new energy battery industries..

Guoxuan High Society will achieve cost management from five aspects, including improved battery energy density, perform upstream raw materials layout, expand the size of the unit cost, improve battery availability and yield utilization, and ladder utilization opportunities recycle. “From the battery to the energy storage to power, this is the basic planning of the National High-class future. In 2020, we will focus on new energy auto markets, surrounding commercial vehicles, passenger cars, special vehicles, low speed vehicles and battery materials.

. In 2022, we will develop the energy storage market, improve the company’s sustained competitive advantage, develop the power grid storage, mobile storage, distributed energy storage, etc..

With the highlights of several production advantages, the future can be launched in the energy Internet market, using innovative platform business models, and develop electrical storage platforms.. Ma Guifu said.


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