[investment] rongbai technology plans to invest 1.193 billion to build a 20000 ton high nickel cathode project in South Korea

Recently, rongbai Technology (688005) announced that the company plans to increase the capital of jaese Energy Co. (hereinafter referred to as "JS Co., Ltd.), a wholly-owned subsidiary of South Korea, with its own and self raised funds equivalent to no more than 1.193 billion yuan. The capital increase price is 679 won / share to build a production and construction project with an annual output of 20000 tons of high nickel cathode in South Korea.

According to the announcement, the project will complete the factory buildings, office bases and related supporting facilities such as intelligent transportation and storage of six high nickel cathode production lines, and produce high nickel cathode materials based on ncm811 and NCA. The investment and construction period of the project is about 24 months. At present, it has not been officially invested and constructed. (source: battery bairenhui battery network)

[market] the heavy policies of the new energy vehicle industry are expected to boost the demand for cobalt by nearly 31% year-on-year in 2021

Recently, the eagerly awaited "new energy vehicle industry development plan (2021-2035)" was officially announced, which not only benefits the new energy vehicle industry, but also drives the upstream demand for metals such as cobalt.

SMM believes that the comprehensive planning of China's new energy vehicle market in the plan, a more reasonable plan for the sales volume of new energy market in 2025 and beyond, can also drive the future demand of power lithium batteries accordingly, in which cobalt and lithium raw materials account for a high proportion of lithium batteries, so the demand for cobalt and lithium raw materials will continue to maintain a high growth rate in the next five years and in the long run.

Among them, the optimistic expectations are as follows: 1. The local subsidy policy has increased significantly; 2. The demand for battery replacement increases; 3. The output of China's "new car making forces" may exceed Tesla, etc. Pessimistic expectations: 1. The national subsidy policy will decline; 2. Insufficient policy support for battery replacement mode.

In the short term, SMM neutral expects that the output of China's new energy vehicles in 2021 will drive the demand for cobalt to grow by nearly 31% year-on-year to 17000 metal tons; It is expected that the output of new energy vehicles in China will drive the demand for cobalt to grow by nearly 35% year-on-year to 23000 metal tons in 2022. (source: Shanghai Nonferrous Metals network)

[performance] the net profit of Xiamen tungsten industry in the first three quarters was 369million, an increase of 238.99%, and the sales volume of lithium cobaltate increased significantly

Recently, Xiamen tungsten (600549) released the third quarter report of 2020. The announcement showed that the revenue from January to September 2020 was 12820020044.44 yuan, an increase of 0.76% year-on-year; The net profit attributable to shareholders of the listed company was 368916381.66 yuan, a year-on-year increase of 238.99%.

It is understood that the net profit attributable to the shareholders of the parent company from January to September 2020 was 368916381.66 yuan, a year-on-year increase of 238.99%; During the reporting period, the company implemented the strategy of low inventory and fast turnover to cope with the impact of fluctuations in the price of tungsten and molybdenum materials, and the profitability of products rebounded significantly; During the reporting period, the financing cost decreased year on year, and the financial expenses decreased accordingly.

Cobalt metal prices continued to decline in the same period last year, and it was necessary to digest the high price inventory at the beginning of the period, resulting in losses; During the reporting period, the price of cobalt, the main raw material, was relatively stable. In addition, the sales volume of lithium cobaltate increased significantly, and the profitability of battery materials business rebounded significantly compared with the same period last year. (source: shell digging net)

[output] Glencore's copper output fell by 8% year-on-year in the first three quarters, and cobalt output fell by 37% year-on-year

According to Glencore's latest report, the company's copper output in the first three quarters was 934700 tons, down 8% year-on-year; Cobalt output was 21600 tons, down 37% year-on-year; Zinc output was 860100 tons, an increase of 6% year-on-year; Lead production was 194300 tons, a year-on-year decrease of 12%; Nickel output was 81800 tons, a year-on-year decrease of 9%; Gold production was 611000 ounces, down 2% year-on-year; Silver production was 23.22 million ounces, down 2% year-on-year; Ferrochromium production was 651000 tons, down 37% year-on-year.

The company's copper output in the third quarter was 347000 tons, an increase of 18% month on month; Cobalt production was 8000 tons, unchanged month on month; Zinc output was 310000 tons, with a month on month increase of 22%; Nickel production was 27000 tons, unchanged month on month; The output of ferrochromium was 185000 tons, an increase of 137% month on month; The coal output was 26000 tons, unchanged month on month. (source: SMM compilation)

[company] lithium battery new energy materials business became the main business. Weihua shares was officially renamed Shengxin lithium energy

On November 5, Weihua shares announced that after the application of the company and the approval of Shenzhen Stock Exchange, the abbreviation of the company's securities was changed from "Weihua shares" to "Shengxin lithium energy" from November 6, 2020. The company's securities code remains unchanged and remains "002240".

Shengxin lithium energy said that the company has completed a major asset restructuring, and the lithium battery new energy materials business has become the company's main business. In order to make the company name better match the main business, highlight the characteristics of the company's main business, and make investors more clearly and intuitively understand the company and establish a new corporate image of the company, the company has changed its name and securities abbreviation. (source: battery bairenhui battery network)

[think tank circle]Positive material: incremental expected price pressure

Considering the release of the new energy vehicle industry development plan (2021-2035), the gradual recovery of the new energy vehicle market, the year-end increment expectation and other positive factors, the market demand for cathode materials is expected to increase significantly in the past two months, but the voice of cathode materials enterprises is weak. Although the price of raw materials has increased, the price of cathode materials is still under pressure. From the perspective of enterprises that have published the third quarterly report, the sales revenue and sales volume of cathode materials of some enterprises have increased year-on-year, but the gross profit margin is still low compared with that of each single quarter in recent years.
Article source:Battery net