Ganfeng Lithium Battery Business 'Blooms More'

Recently, Ganfeng Lithium disclosed its 2020 annual report. Last year, it achieved revenue of 5.524 billion yuan, an increase of 3.41% year-on-year; net profit attributable to shareholders of listed companies was 1.025 billion yuan, an increase of 186.16% year-on-year. Among them, domestic business revenue was 3.923 billion yuan, accounting for 71.02%, an increase of 11.89% year-on-year. The overseas business is dominated by the export of lithium salt products, and revenue has dropped by 12.79% year-on-year. The important reason is that many overseas automobile OEMs that have long-term cooperation with Ganfeng Lithium have built factories in China in recent years, which has led to a decrease in their overseas export business. In terms of upstream lithium resources, during the reporting period, Ganfeng Lithium further increased its shareholding in MineraExar to 51%, and executed holdings to promote the investment and development progress of the Cauchari-Olaroz lithium salt lake project in Argentina. In addition, it also increased its holdings in the lithium clay project in Mexico. The company’s Sonora’s shareholding ratio. In terms of lithium-ion battery business, Ganfeng Lithium currently has deployed consumer batteries, TWS batteries, power/energy storage batteries, and solid-state batteries. In the field of power/energy storage batteries, the output of Ganfeng's 600 million watt-hour high-capacity lithium-ion power lithium battery project has increased rapidly. As of the end of 2020, the output of Ganfeng's lithium iron phosphate lithium-ion battery has reached 1GWh, and plans to expand production to 3GWh . The demand for its LFP battery production expansion can also be known from the previous announcement. In early March of this year, Ganfeng Lithium announced that it would supply LFP batteries of no less than 1GWh per year to Kexin Technology. The two parties will carry out resource regeneration projects such as new energy batteries, communication base station energy storage, data center energy storage, and battery recycling. Cooperation. In the field of consumer batteries, in 2020, it will complete the capital increase and share expansion of Ganfeng Lithium. Huizhou Ganfeng, a wholly-owned subsidiary of Ganfeng Lithium, plans to invest no more than 3 billion in the construction of high-end polymer lithium-ion battery Ru0026D and production construction bases. In the TWS battery field, as of the end of 2020, its TWS battery fully automated production line has a daily output of 300,000 units. In the field of solid-state batteries, its second-generation solid-state lithium-ion batteries are based on high-nickel ternary positive electrodes and metal-containing lithium negative materials. At present, the energy density of the product exceeds 350Wh/kg and the cycle life is close to 400 times. In terms of output, its current effective output of lithium carbonate is about 25,800 tons/year, and lithium hydroxide is 31,000 tons/year. Ganfeng Lithium Industry stated that in 2020, it completed the construction of a 50,000-ton battery-grade lithium hydroxide production line (Ma Hong's 10,000-ton lithium salt phase III project) at Xinyu Basic Lithium Plant, and will gradually ramp up production and reach production in 2021. . In the future, it is planned to form an annual output of 100,000 tons of LCE ore for lithium extraction, and 100,000 tons of LCE brine and clay for lithium extraction.