On October 15, the main consumer of lithium batteriesJiangxi Canhui New Energy Technology Co., Ltd(hereinafter referred to as "Canhui new energy") submitted a prospectus to the Hong Kong stock exchange to be listed on the Hong Kong main board.

The prospectus disclosed that in the first seven months of 2016, 2017, 2018 and 2019, Canhui new energy's operating revenue was 122 million yuan, 252 million yuan, 327 million yuan and 180 million yuan respectively, with the corresponding gross profit rates of 14.9%, 18.7%, 21.9% and 20.1% respectively, and the corresponding net profits of 7.697 million, 26.483 million and 42.79 million yuan respectively And 21.302 million yuan.

Among them, the proportion of battery pack revenue of polymer cylindrical cells increased significantly, from about 9.2% to 39.9%. However, due to the high ratio of battery pack products, a large number of cells need to be bundled, and the limited production capacity makes self-production unable to meet, so we can only purchase more cells from outside to meet the business growth. However, the outsourcing cost will weaken the gross profit margin.

However, the company's increased revenue and gross margin performance exceeded the compound annual growth rate of 15.5% of China's overall consumer lithium-ion battery industry from 2014 to 2018, and the number of customers expanded from 40 in 2016 to 172 in the seven months ended July 31, 2019.

In addition, in 2016, 2017 and the first seven months of 2018 and 2019, the revenue generated by domestic sales accounted for about 29.2%, 44.6%, 38% and 33.8% of the total sales respectively, while export sales accounted for about 70.8%, 55.4%, 62% and 66.2% of the total sales respectively. The sales of the top five customers accounted for about 85.7%, 57.3%, 60.0% and 65.7% of the total revenue respectively.

This shows that Canhui new energy has a high concentration of revenue sources, most of which come from a small number of customers, of which Hong Kong's foreign trade customers account for the majority.

Gaogong lithium battery learned that Canhui new energy mainly designs and produces polymer lithium-ion batteries.

The polymer lithium-ion battery produced is a safe, green and environmental protection new power source, which is widely used in the fields of aircraft model toys, electric toys, mobile phones, notebook computers, MP3, MP4, digital cameras, electric tools and electric vehicles. It is a green new energy product supported and developed by the state.

For the purpose of fund-raising, Canhui new energy said that the company will focus on expanding to the power lithium-ion battery market (that is, lithium-ion batteries for electric bicycles, electric tools and other products). The power lithium-ion battery market usually requires higher discharge rate and higher requirements for acne and burr control and accuracy.

This fund-raising is mainly used to build a new production base, expand production capacity and meet the market demand of lithium-ion batteries.

At the same time, Canhui new energy promises to increase the maximum total daily capacity from about 155000 batteries to about 255000 batteries by the last quarter of 2021, and further increase to about 355000 batteries in the first quarter of 2023.

At present, the consumer lithium battery market is in a competitive stage, and the general consumer electronics market is basically mature, and there will be no major fluctuations in the future, but the market demand for lithium-ion batteries for electric bicycles and electric tools will rise steadily.

It is worth noting that at present, well-known battery enterprises such as Xingheng power, haisida and Tianpeng power have occupied a large market share in the lithium battery market of electric bicycles and electric tools.

Among them, as a world leading and European first-class lithium battery brand for electric bicycles, Xingheng power has sold more than 10 million sets of lithium batteries in the global light vehicle market.

With the successive establishment of Europe Xingheng and India Xingheng, Xingheng's overseas business has developed to a new height, and plans to successively establish factories in India, Southeast Asia and Europe to meet the needs of different regions for power batteries and accelerate the global layout of Xingheng.

In the electric tool market, haisida has produced electric tool batteries for more than 25 years, and has reached in-depth cooperation with international electric tool and smart home appliance brands such as TTI, Stanley Baide, Quanfeng, covos robot, Midea, Xiaomi, etc. it has launched more than 500million lithium batteries in the electric tool market, without a safety accident.

Tianpeng power supplyAs the first enterprise in China to mass produce NCA system cylindrical batteries, its products are widely used in high-end electric tools, garden tools, two wheeled vehicles, micro electric vehicles and other application fields. Among them, power tool batteries have passed the supply chain system certification of many top brand giants and achieved mass supply.

At present, the company's products have successively passed the review of Wuyang Honda, harrow travel and other suppliers, and have carried out strategic cooperation with SOCO, making phased progress in the development of the electric light vehicle market.

Canhui new energy's listing in Hong Kong this time is mainly aimed at financing to expand the scale. On the one hand, we should deal with the risks of customer concentration and market competition, on the other hand, we want to take a share in the lithium battery market of electric bicycles and electric tools.

However, the market competition is extremely cruel and ruthless. In the future, it needs further observation whether Canhui new energy can walk side by side with Xingheng power supply, haisida, Tianpeng power supply and other well-known companies.



Article source:High tech lithium power grid