On November 11th, Xinzhou Bon (300037) announced that it has signed a supply contract with Ultium Cells,LLC to supply lithium ion battery electrolyte products to Ultium Cells,LLC from the date of signing of the contract to the end of 2025. The contract amount is usd 367 million. It is equivalent to 2.345 billion yuan.
According to the announcement, Ultium Cells,LLC is a joint venture between LG Energy Solution (LG New Energy) and General Motors Co., LTD., with a total investment of us $2.3 billion, mainly engaged in the manufacturing of lithium batteries for electric vehicles.
New main nations said the contract is signed, marks the company in the lithium ion battery electrolyte products overseas market development has made positive progress, to ensure the future of the north American market orders demand, also laid the groundwork for the layout of the company in the United States market, is helpful to further enhance the profitability of the company, consolidate the company's competitive advantage in the international market.
It is worth noting that in terms of overseas orders, Xinzhou State also received the bidding notice from European customer Northvolt in August this year, confirming that the company was selected by Northvolt as the specific supplier of lithium ion battery electrolyte for project A and project B, and the total bid amount is about 175 million US dollars (equivalent to about 1.190 billion YUAN). Accounting for 40.19% of the company's audited operating revenue in 2020.
According to the statistics of Battery Network, the total amount of the two large orders is 542 million US dollars, equivalent to about 3.535 billion RMB, which has exceeded the annual audited operating revenue of New Zhou Bang in 2020 of 2.964 billion RMB.
Hua Chuang securities latest research report analysis said, lithium battery electrolyte has become the new zhou state high-speed growth of the first engine. From 2010 to 2014, the company broke through major battery customers in Japan and Korea successively, and has become an important supplier of LG Chem, Samsung SDI, Murata, Panasonic and other customers. In terms of integrated layout, the company's long-term electrolyte production capacity is planned to exceed 300,000 tons, ranking second in China at present, and supporting production capacity of over 250,000 tons of solvent, 2,600 tons of LIFSIand 4,000 tons of additives. The self-supply ratio of key materials continues to increase. Bases in Holland, Poland and Tianjin are under construction.
In addition, according to the information of the annual competitive brand list of Electrolytes in China's lithium battery industry in 2021, New Jubang has an annual electrolyte capacity of 75,400 tons, including 17,400 tons in Huizhou, 30,000 tons in Nantong and 28,000 tons in Suzhou. In the first half of 2021, the company shipped about 38,000 tons of electrolyte. At the same time, the new main positive bond and overseas high-end customers, joint research and development of binding customer relationship, is building the base for Poland and planning in the Netherlands for electrolyte demand growth in Europe and domestic customers to provide sufficient capacity to ensure, to provide customers with one-stop "product + solution" to the new main bond than pure foundry enterprises have higher gross margin.
In addition, new Zhou Bang recently introduced in the investor interactive platform, the company overseas under construction in Poland lithium battery materials project will be put into production next year, the Dutch project is preparing to build, is expected to gradually put into production in the second half of 2024. In addition, in the second half of this year, the company plans to partially put into production jingmen lithium battery materials project (phase I), Nantong New Zhou Bang 25,000 tons of new electronic chemicals project.
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