On December 23rd, 221, Tianci Materials (279) issued a notice saying: 3W fund Wu Huifan, AspoonRyan Yin Vincent Sun, Blackrock Cheng Wenyu, Cloudalpha Xu Gangzheng, MillenniumZoe Zhao, NSRIvy, OctoRivers Qiu Luyu, Octorivers Hu Jinge, RPower Li Yishan, SherwoodCapital Liang Yan, Tairen Capital Li Lingmin, Willing Capital Liu Jiamu, Wanjia Fund Wang Lisheng, Shanghai Jude Investment Cheng Yue, Soochow Fund Ryker Chan, Dongzheng Asset Management Li Jing Guo Naixing, CITIC Industry Fund Zou Tianlong, CITIC Prudential Asset Management Co., Ltd. Du Zhongming, Feng Tiancheng of CITIC Construction Investment Fund, Xu Hongtu of CITIC Securities, Liu Qi of CITIC Securities, Cheng Jiteng of CITIC Asset Management, He Yike of Zhongtian Guofu Securities, Lu Peijin of Zhonggeng Fund, Zhou Yingbo of China Europe Fund, Liu Fei of China Europe Ruibo Investment Management, Fu Xin of China and Thailand, Wei Xu of Zhongke Fertile Soil Fund, Luo Jian of Zhu Xiaoming of Zhongrong Fund, Faye Ting of China Post Fund, Zhang Lixin of BOC International Securities Asset Management Department, Yuan Duowu Jin Xihan of Jiutai Fund and Kong Xiangrui of Bank of Communications. Crown Bridge of Xincheng Fund, Zhu Ran of Cinda Aussie Bank, Wang Zhanfan of Jianshun Investment, Cha Lanxi of Everbright Financial Management, Ji Wenhua of Xingzheng Global, Ren Shiqing of Agricultural Bank of China, Feng Ruiling of Chuangjin Hexin Fund, Yin Haiying, Xie Tianyi, Lu Junyou of Qianhai Life Insurance, Chen Zhixin of Qianhai Open Source Fund, Xu Guangjin of Chinese Business Fund, Zou Dongliang of Huaxia Fund (Hong Kong) and Xu Ben of Huaan Fund. China Resources Yuanda Fund Luo Lijun, southern fund Yu Lu An Yongping, Boyuan Fund Zhang Xing, Boyuan Fund Management Co., Ltd. Tan Fei, Bodo Fund Guo Xiaoxuan, Jiahe Fund Sun Guomeng, Jiahe Fund Management Co., Ltd. Li Chao, Guoxin Securities Min Xiaoping, Guohua Life Insurance Liu Qianlin, Guojun Asset Management Wang Han, SDIC UBS Zhou Hongcheng, cathay pacific fund Zhijian Chen Yaqiong, cathay pacific fund Management Co., Ltd. Qin Peidong, Guohai self-employed Wu Xing. Anxin fund Wu Shaofei, Allianz Insurance Asset Management Co., Ltd. Wang Pengyu, Baoying Fund Chen Jinwei, Franklin Suntong, Fuanda Fund Lu Xu, Furong Fund Jiang Fan, Shiva Asset Chen Lifang and Ping An Fund Ding Lin He Jie investigated our company on December 21st, 221.
The main content of this survey:
Q: Recently, the price of lithium carbonate, an upstream raw material for lithium batteries, has been rising continuously. What does the company think? Can the rising cost be smoothly passed on to the products?
a: the recent increase in raw material prices is mainly due to the tension between supply and demand caused by the sharp increase in the shipment of power lithium batteries. We expect that the shortage of some raw materials will continue next year, but in the long run, the shortage of supply will be short-lived, and the relationship between supply and demand will be eased after the new production capacity in the industry is put into use one after another. At present, the transmission of rising costs is relatively smooth.
q: does the company have a reserve or layout on lithium carbonate?
a: at present, the company has some lithium carbonate production suppliers, such as ronghui lithium industry and Jiangxi yunli. The lithium battery recycling business announced this year will also provide a certain amount of lithium carbonate next year, which will save some of the cost of lithium carbonate. In addition, the company will actively maintain good communication and interaction with upstream suppliers to ensure the continuous supply of raw materials.
q: more and more new players are entering electrolyte. what does the company think of this situation?
a: a high industry prosperity will naturally attract new players to enter. the company believes that there will be progress only if there is competition. by self-producing the core key raw materials of the main products, including the current mainstream lithium salts, additives and new lithium salts, we continue to innovate and improve the production technology, equipment and technology, and build a circular industrial chain system. The company has gained obvious competitive advantages in terms of cost and market share, and we are confident enough to meet the following challenges.
q: what do you think of the recent frequent refreshing of semi-solid and solid-state batteries? What is the company's current R&D progress?
a: with the rapid development of the industry, the emergence of new technologies is inevitable. the semi-solid batteries mentioned in the market still need electrolyte, which is not essentially different from the traditional liquid batteries. The company continues to invest in research and development of new products, and at the same time reserves relevant intellectual property rights. At present, there are some research and development achievements and patent layout of new electrolytes.
q: what's the progress of the company's new expansion project this year?
a: at present, most of the projects are progressing smoothly. among them, Yichang's iron phosphate project with an annual output of 3, tons has completed the preliminary filing/environmental assessment and other related safety and environmental protection work, and the first phase is currently under construction.
q: what's the progress of the company's annual output of 6, tons of liquid lithium hexafluorophosphate project?
a: on November 6, 221, the company disclosed the progress announcement on the project with an annual output of 15, tons of lithium battery materials. The annual output of 6, tons of liquid lithium hexafluorophosphate in this project has entered the stage of capacity climbing, and it is progressing smoothly at present.
q: what is the company's LiFSI capacity layout? Future competition pattern?
a: at present, the company has an annual production capacity of 2,3 tons, and the device with an annual production capacity of 4, tons in the non-public offering and investment project in 22 is progressing smoothly. Judging from the announcement of the expansion of the company's existing projects, the capacity planning for the next three years will exceed 6, tons. LiFSI, as an additive that can significantly improve the battery cycle and high temperature performance, has been gradually recognized by mainstream customers. As one of the leading enterprises in the industry, the company has a mature LiFSI production process and the technology of mass production.
q: what is the layout of additives?
tianci materials' main business: research and development, production and sales of new fine chemical materials.
The third quarterly report of Tianci Materials 221 shows that the company's main income is 6.623 billion yuan, up 145.7% year-on-year; The net profit of returning to the mother was 1.554 billion yuan, up 199.72% year-on-year; Deducting non-net profit was 1.51 billion yuan, up 192.84% year-on-year; In the third quarter of 221, the company's main revenue in a single quarter was 2.924 billion yuan, up 165.1% year-on-year; The net profit returned to the mother in a single quarter was 771 million yuan, up 273.% year-on-year; Non-net profit deducted in a single quarter was 744 million yuan, up 263.13% year-on-year; The debt ratio is 37.74%, the investment income is-2,43,3 yuan, the financial expenses are 31,69,9 yuan, and the gross profit margin is 38.96%.
in the last 9 days, the stock has been rated by 18 institutions, with 16 buy ratings and 2 overweight ratings. The average institutional target price in the past 9 days was 181.83; In the past three months, the net inflow of financing was 269 million, and the balance of financing increased; The net outflow of securities lending was 369 million, and the balance of securities lending decreased. Securities Star valuation analysis tool shows that Tianci Materials (279) has a good company rating of 3.5 stars, a good price rating of 1.5 stars and a comprehensive valuation rating of 2.5 stars. (Rating range: 1-5 stars, with a maximum of 5 stars)