1. Industry overview
Putailai products are mainly lithium-ion battery key materials and automation process equipment, which are the upstream of the lithium-ion battery industry. Lithium-ion batteries can be divided into three categories: consumption, power and energy storage according to application scenarios:
(1) Consumer batteries
consumer electronics market has gradually entered a mature stage and has maintained a relatively stable growth overall. In terms of smartphones, the global smartphone shipments in 2021 were about 1.32 billion units, an increase of about 6.1% over the previous year. Among them, the growth trend of 5G mobile phones was significant, with shipments in 2021 being about 530 million units, accounting for nearly half.
It is judged that the growth rate of consumer battery demand in the next few years will achieve stable growth in the range of 5%-10%. It is expected that my country's consumer lithium-ion battery shipments will increase from about 42GWh in 2021 to 51.5GWh6 in 2023.
(2) Power battery
In 2021, as domestic sales of fuel vehicles declined year-on-year, new energy vehicles, as a substitute for fuel vehicles, achieved strong growth. According to statistics from the China Passenger Car Association, my country's new energy vehicle sales in 2021 were 2.9889 million, with a year-on-year growth rate of 169.1%. The penetration rate of quickly increased from 5.76% in 2020 to 14.84%. Gaogong lithium battery survey shows that the increase in sales of new energy vehicles represented by electric vehicles directly led to a year-on-year increase of 175% in my country's power battery shipments in 2021 to 220Gwh. Among them, the shipment of lithium iron phosphate power battery was 117GWh, a year-on-year increase of 270%; the shipment of ternary power battery was 109GWh, a year-on-year increase of 127%.
While the consumption habits of new energy vehicles are gradually formed, technical support and infrastructure support in the new energy vehicle field such as more diverse models, longer-lasting range, and more abundant charging piles will be improved, prompting the new energy vehicle market to actively grow in a circular manner. It is predicted that the global and domestic new energy vehicle production is expected to reach 8.5 million and 6 million in 2022, and the demand for power batteries will exceed 650GWh and 450GWh respectively; in 2025, the global power battery shipment will reach 1,550GWh, and in 2030, it is expected to reach 3,000GWh, with an average annual compound growth rate of nearly 35%. The development of new energy vehicles will remain on a track of rapid growth for a long time, bringing broad market space for sustainable development to the lithium-ion battery industry and the upstream.
(3) Energy storage batteries
energy storage is becoming more and more important as a key link in contemporary energy regulation. It can be divided into electrochemical energy storage and mechanical energy storage according to the principle. The former relies on energy storage batteries to achieve the storage of electricity and timely feedback to the power network.
is expected to be based on the proposal of relevant national strategic goals, which is expected to be gradually guided by increasingly standardized management, which will further achieve healthy and orderly development of the industry and usher in broader investment opportunities and growth space.
2. Enterprise analysis
Putailai has long been focusing on the fields of key materials and automation equipment for new energy batteries. Based on the strategic goal of "dual carbon", it provides professional supporting services to new energy vehicles, consumer electronics, energy storage and other related battery customers. Its main business covers negative electrode materials and graphite chemical processing, diaphragm and coating processing, automation equipment, PVDF and adhesives, aluminum-plastic packaging film and optical film, nano alumina and boehmite, etc. Putailai has built the management structure of negative electrode materials and graphitization, film materials and coating, and automation equipment, deepened the synergy advantages of resource sharing industry chains among various business departments, established large-scale, integrated, stable and controllable manufacturing capacity, and provided solutions to customers through various business service models, becoming a world-class comprehensive service provider of key lithium-ion battery materials and process equipment with leading technology, excellent products and standardized management.
Putailai's main business includes the research, development, production and sales of negative electrode materials and graphitization processing of new energy batteries, diaphragm and coating processing, automation equipment, PVDF and adhesives, aluminum-plastic packaging film and optical film, nano-alumina and boehmite.
Putailai achieved main business revenue of 897,22897 million yuan, an increase of 70.38% over the same period last year; achieved net profit attributable to shareholders of listed companies of 174,8727,800 yuan, an increase of 161.93% over the same period last year; achieved net profit attributable to shareholders of listed companies of 166,004,500 yuan, an increase of 166.16% over the same period last year.
Putailai Negative Ore Materials' main business revenue was 5129.0597 million yuan, a year-on-year increase of 41.38%. Putailai achieved sales of 97,242 tons throughout the year, a year-on-year increase of 54.48%; Putailai graphite processing achieved operating income of 100.9.4918 million yuan (including internal sales), a year-on-year increase of 24.60%.
Putailai diaphragm and coating processing business achieved main business revenue of RMB 2195.3425 million, a year-on-year increase of 171.07%; aluminum-plastic packaging film and optical film business achieved operating income of RMB 141.1607 million, a year-on-year increase of 50.38%; PVDF products achieved operating income of RMB 447.1591 million (including internal sales).
3. Enterprise development strategy
In the future, Putailai will comprehensively accelerate the implementation of the development strategy of "two vertical and one horizontal, comprehensive attack", build a negative electrode material industry chain and coating diaphragm industry closed loop through vertical integration strategy , expand Putailai's product line in the automation equipment business field through horizontal strategic expansion, and insist on implementing differentiated product strategy with continuous R&D investment. , give full play to Putailai's business collaboration in materials, equipment and services, steadily promote various plans and production capacity construction, and continue to provide cost-effective products and services for the market, strive to achieve a negative electrode material production capacity of more than 400,000 tons, a base film of 1.3 billion square meters, a PVDF of 25,000 tons and a coated diaphragm processing capacity of 10 billion square meters by the end of 2024, further enhance the market share of Putailai's negative electrode materials and coated diaphragm processing, and is committed to becoming an excellent supplier of world-class lithium-ion battery overall solutions with leading technology, excellent products and standardized management, and contribute to the rapid development of the global new energy lithium-ion battery industry.
1. Solidly promote the integrated development strategy of , improve the supporting capacity of manufacturing and supply chain
(1) In terms of negative electrode materials, Putailai will accelerate the construction of in the 200,000-ton negative electrode material integrated project in Sichuan, give priority to ensuring the incoming graphitization capacity, ensure the stable supply to downstream customers, and introduce new processes and production equipment into the integrated project to reduce unit investment amount and unit product energy consumption; accelerate the research and exploration of the construction and cooperation model of low-carbon or zero-carbon industrial projects, increase the proportion of green electricity usage, and achieve continuous reduction of unit carbon emission intensity in the process of continuously increasing capacity construction, and ensure the shipment of negative electrode materials of more than 150,000 tons in 2022.
(2) In terms of coating membranes, relying on the acquired mature factories or the existing Putailai factory area, timely promote the construction of supporting capacity according to customers and market needs; actively grasp the major development opportunities of the update and iteration of diaphragm base film equipment, promote the implementation of Sichuan Zhuoqin's private placement fundraising and investment projects and self-owned capital projects, make up for the shortcomings of base films, and further utilize Putailai's technical accumulation and exploration in the fields of coating materials, adhesives, etc., and implement the integrated production capacity construction of base films and coatings. Ensure the coating processing shipment volume of more than 4 billion square meters in 2022.
(3) In terms of automation equipment, we will promote the construction of production bases of Guangdong Jiatuo, Dongguan Jiatuo and Sichuan Jiatuo, concentrate on strengthening the manufacturing and R&D capabilities of South China, and prepare to build a new energy equipment engineering R&D center to provide good technical support for Putailai's automation equipment business in the R&D and design links; actively expand Putailai's assembly integration and supporting production capacity in Liyang, Jiangsu, Fengxin, Jiangxi, Ningde, Fujian, Dongguan, Guangdong and other places; fully tap the supporting processing capacity of Jiangxi Jiatuo's key components in the front-end equipment, and strengthen the mechanical parts processing capacity of automation equipment through self-construction and cooperation, and further enhance Putailai's cost control and delivery capabilities in key components.
2. Continue to promote the research and development and marketing of new products, new technologies and new processes
(1) In the field of negative electrode materials, we continue to carry out basic research and new process development work. Basic research work mainly includes cooperation with coke factories to develop low-priced and high-quality negative electrode special raw materials, new surface modifier research, lithium metal negative electrode development and the mechanism research on the corresponding relationship between negative electrode materials and electrochemical properties; new process development mainly includes particle morphology and size control, new Explore the surface modification method of the industry-leading continuous production equipment, improve the level of automated production, and reduce the energy consumption per unit product; actively grasp the technical iteration opportunities of fast charging products, and comprehensively accelerate the research and development and promotion in the fields of consumption and power; accelerate the product development and promotion of new negative electrode materials such as SiO/C, Si/C, hard carbon and soft carbon to improve technical reserves for the next generation of negative electrode products; continue to optimize raw material pretreatment, transform box furnaces and furnace discharge equipment, reduce energy consumption per ton and cooling cycles, and increase graphitization output.
(2) In the field of coated diaphragms, through independent research and development of ultra-thin coating products, comprehensively accelerating the mass production and introduction of ultra-thin coatings, liquid boehmite and other products, the update and iteration of existing coated products, promote the development of modified PVDF and non-fluorine binder (PMMA) products, continue to enrich the product lines of coating materials and binder materials, complete from substitution to transcendence, and broaden the technical moat; use high-standard oil coating dedicated line development to serve the high-end digital market, and meet the needs of overseas customers with low-cost and bioaramid coating products; further promote the construction of intelligent manufacturing factories through comprehensive measures such as automatic detection, black light factories, and linkage prevention of stupidity, and further promote the research and development and application of high-speed, multi-layer integrated coating equipment, further explore the limits of coating equipment, and lay a technical foundation for the next generation of coated diaphragm production technology transformation.
(3) In the field of automation equipment, by optimizing the coating machine oven to improve drying quality and improve drying efficiency, thereby shortening the debugging time and delivery cost of coating machine products; in conjunction with Putailai's coating diaphragm business, accelerate the design and development of high-speed coating equipment, realize the continuous update and iteration of series double-layer wide-frame machines, double-layer extruder , high-speed slitting machines and other products, maintain the leading advantage of Putailai's front-section equipment coating machine products; horizontally integrate Putailai's R&D team for advanced product pre-research, and accelerate the research and development and marketing promotion certification and delivery of new generation liquid injection machines, laminate machines, winders, helium detection machines and other equipment, realize the update and iteration of existing products, and establish Putailai's technical advantages in the middle and back section fields; improve the supporting and integration capabilities in the field of diaphragm base film equipment, and reserve force for Putailai's base film production line construction and capacity expansion.
3, Market development and customer expansion
(1) In the field of negative electrode materials, Putailai will accelerate the launch of fast charging high-rate consumer negative electrodes and low-cost power negative electrode products to ensure that related new products can meet customer needs. Putailai is also accelerating its entry into the low-cost power battery and energy storage market on the basis of giving priority to ensuring the market demands of consumer battery customers and mid-to-high-end power battery customers. With leading technical level, rich product types and good cost-effectiveness, Putailai will increase Putailai's market share in the global artificial graphite field, and strive to become a world-class negative electrode material enterprise leading the technological progress of the industry, and implement solutions to promote overseas factory building.
(2) In the field of coating diaphragm, on the basis of quickly responding to the supporting needs of domestic large customers' production capacity, accelerate the construction of diaphragm base film production line and product certification , give full play to Putailai's supporting competitive advantages in the fields of coating materials and adhesives, fully serve the water-based and oil-based coating markets in the consumer market, accelerate the promotion of product certification and mass supply of high-quality overseas customers, strive to achieve mass production and development, and steadily explore the international market.
(3) In the field of automation equipment, the coating machine business should shorten the product installation and debugging cycle with lean management, improve the success rate of one-time delivery, and actively promote the certification and promotion of high-end products for overseas customers; for new equipment business products such as liquid injection machines, lamination machines, helium detection machines, high-speed stacking machines, and low-cost machine, we actively cooperate with downstream customers to create "benchmark" project cases, establish the brand effect , and use new products to promote customer expansion.
4. Improve the level of enterprise management, strengthen business collaboration,
(1) Strengthen the construction of the operation management system for the headquarters of listed companies, improve the management and operation mechanism of the business department, continue to enrich and improve the resource coordination between the headquarters on the business side, R&D side and client, and provide support and guarantee role for Putailai's sustainable development.
(2) Putailai will establish an energy management department to coordinate and coordinate various business departments to promote the continuous decline in energy consumption and carbon emissions per unit by upgrading existing production equipment and improving process technology, and coordinate the identification, rights confirmation and transaction of indicators such as Putailai Green Power and Green Certificate; integrate various resources such as industrial chain, production base and market, promote various energy comprehensive utilization projects of power generation, distribution and application ends, promote efficient use of energy and the development of a green circular economy, achieve the goal of carbon emission reduction of listed companies, and create good economic and social benefits.
(3) In order to meet the growing market competition needs in the future, Putailai will continue to adhere to the combination of long-term and short-term incentive mechanisms, stabilize core backbone employees, actively absorb fresh forces, and ensure that Putailai team always maintains a long-term and good enterprising mentality, laying the talent foundation for Putailai's long-term and sustainable development.
