Recently, GEM (002340), a member company of the Lithium Battery G20 Summit,
gave a detailed introduction to the company's latest business progress such as
ternary precursors, ternary materials, and power battery recycling in the
investor activity relationship table.
In terms of ternary precursors, GEM’s NCM high-nickel precursor has passed
LGC certification, and NCA precursors have established a stable supply
relationship with ECOPRO; in terms of ternary materials, the 622 product is
currently in mass production and sales, and the 811 product has completed
technical development , batch products are being promoted and marketed; in terms
of power battery recycling, subsidiary Jingmen GEM has recently been selected
into the first batch of companies that meet the "Industry Standards for
Comprehensive Utilization of Wasted Power Batteries for New Energy Vehicles"
list.
According to GEM's performance in the first half of 2018, during the
reporting period, the company achieved revenue of 7.026 billion and net profit
attributable to shareholders of listed companies of 411 million, both achieving
growth of more than 50% over the same period. Among them, the production
capacity of the new energy materials business was fully released, driving the
company's sales and performance to grow significantly. The operating income of
this segment exceeded 4 billion yuan, an increase of 99% over the same period
last year, accounting for 58% of the entire operating income, and becoming the
company's largest contributor to operating performance. Core Business.
It is particularly worth noting that GEM’s foreign sales revenue in the
first half of 2018 reached 2.49 billion yuan, accounting for 35% of total
operating revenue, an increase of 483% over the same period last year. GEM
explained: In recent years, as the company has continued to increase
technological innovation, positioned itself as a high-end customer group, and
actively expanded its market share with high-quality products, it has
successively established strategic cooperative relationships with
internationally renowned companies such as Samsung SDI and South Korea's ECOPRO,
which has greatly improved the company's foreign sales business. Significant
improvement.
The following is a survey record:
(1) New energy battery materials
1. Please introduce the company's production capacity construction and main
customers in new energy battery materials?
Reply: At present, the company has built a ternary precursor production
capacity of 60,000 tons, including a 20,000-ton high-nickel precursor production
line for ternary materials. This year it plans to sell 40,000-50,000 tons of
precursors. In terms of cathode materials, the company has built a production
capacity of 20,000 tons, including 15,000 tons of NCM and 5,000 tons of lithium
cobalt oxide.
The company's ternary precursors are mainly supplied to international
mainstream customers such as CATL supply chain, Samsung SDI and ECOPRO, and have
been certified by international mainstream enterprises such as LGC and BYD. At
the same time, the company has quickly broken through the key technologies of
high-nickel products. The NCM high-nickel precursor has passed LGC
certification, and the NCA precursor has established a stable supply
relationship with ECOPRO. The new energy battery materials sector accounts for
57.54% of operating income, and this business has become a favorable support for
the company's performance growth.
2. Please introduce the company’s research and development progress in
ternary battery materials?
Reply: At present, the mainstream supply on the market is still 523 and 622
products, with monocrystalline cathodes mainly replacing polycrystalline
cathodes. However, we believe that high nickel is an inevitable trend in the
development of ternary battery materials. Therefore, in addition to research on
the improvement of 523, the company In addition to the research and development
of 523 single crystal and 523 products for 48V starting power supply, it is also
paying close attention to and actively carrying out the research and development
and technical reserves of high-nickel products such as 622 and 811. At present,
622 products are already in mass production and sales, 811 products have
completed technical development, and batch products are being promoted and
marketed. In 2018, the company will focus on promoting the mass marketization of
high-nickel products such as 622 and 811.
3. Will the rapid development of other competitors in the domestic new
energy battery materials industry have an impact on the company?
Reply: The new energy market has broad development prospects and space, and
the market itself is open. Only competition will make progress. Moreover, new
energy material manufacturing is an industry of "technology + quality + green
management". With the combination of strength and financial strength, after more
than 10 years of hard work, the company has formed a full industry chain system
of "resource recycling, raw material recycling, precursor recycling, and ternary
material manufacturing". It has strong competitive advantages and faces various
competitions. The company will start from building core competitiveness and
focus on the core business of "raw material strategy + precursor manufacturing".
Through technological innovation, the company will build the world's most
competitive precursor raw material and precursor material manufacturing
enterprise in the ternary materials industry chain. Find the core of your
company.
(2) Power battery recycling and related businesses
1. After the power battery is retired, should it be used directly in the
field of small energy storage or be directly disassembled and used?
Reply: The recycling and treatment methods of power batteries differ due to
their different characteristics. They need to be cascaded or recycled according
to the battery capacity status. In terms of the current situation, when the new
power battery is in use, its capacity can no longer continue to be used in the
electric vehicle. When used in automobiles, it can be used in energy storage
power stations or low-speed electric vehicles through detection, disassembly,
and reassembly technologies. If the capacity is further reduced to the point
that it cannot be used in cascades, it will need to enter the recycling link to
recycle valuable metals.
2. What are the main technical difficulties encountered in the recycling
process of power batteries?
Reply: Non-destructive disassembly and remaining life detection technology
in the battery recycling process, and efficient extraction and synthesis
technology of nickel, cobalt, and lithium are both core technologies and
difficult problems in battery recycling. In the fierce market environment, core
technology is the core competitiveness. The company continues to increase
investment in research and development, establishes industry-leading research
centers, formulates multi-level talent incentive policies, gives full play to
the leading role of leading talents, and drives development with innovation.
Finally, we broke through and mastered the key technologies of battery
disassembly, sorting, leaching, extraction, and synthesis in the battery
recycling process.
3. The company's subsidiary Jingmen GEM was recently selected into the
first batch of companies that meet the "Industry Specification Conditions for
Comprehensive Utilization of Wasted Power Batteries for New Energy Vehicles".
What advantages does the company have in power battery recycling?
Reply: GEM is a professional waste recycling and resource recycling
company. It has a huge recycling network covering 3,000 kilometers across China.
It has the world's leading resource recycling technology and the world's most
advanced full industry chain technology and industry from raw material recycling
to material recycling. , has recycling and management technology for scrapped
cars, scrapped batteries and various waste resources.
As the world's leading waste battery and cobalt-nickel metal recycling
company, GEM has the confidence and strength to do a good job in recycling. It
will work with industry battery factories and automobile factories to recycle
and safely dispose of China's power batteries and scrapped cars to create new
energy vehicles. The industrial chain is moving towards a full life cycle green
model from "green to green".
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