Since the stock price fell below 30 yuan in early March 2022, Loppon Technology (603906. SH) has been sluggish in the secondary market, its closing price has been hovering up and down at the position of 25 yuan, until the recent April 18, its closing price rebounded and jumped to the position of 30.29 yuan / share, so that the hearts of investors who hold positions have followed suit.
The "awakening" of Lopal Technology is closely related to a new battery technology recently released by it.
"Iron Lithium No. 1" turned out to be a reality.
On April 15, 2022, Changzhou Lithium New Energy, a subsidiary of Lopal Technology, held a super lithium iron phosphate high-end product conference and officially released its newly developed new spherical lithium iron phosphate product - "Lithium Iron No. 1".
As we all know, cathode material is one of the core materials in lithium-ion batteries (mainly divided into power batteries, consumer batteries, energy storage batteries), and currently accounts for more than 50% of the total cost of the battery. Cathode materials are mainly divided into two types of lithium iron phosphate cathode materials and ternary cathode materials, in 2021 lithium iron phosphate cathode materials with its high cost performance in terms of production and sales of ternary materials, won the favor of major new energy vehicle manufacturers.
However, there has always been a clear shortcoming in the conventional lithium iron phosphate cathode material itself - the mileage under low temperature conditions will be greatly reduced, especially in northern cities, its low temperature, winter endurance and other drawbacks have become more prominent, and the penetration rate has not been able to improve.
Industry insiders said, "At present, the more common solution is to use heat pumps, and battery heating function is a must for electric vehicles." ”
The "Iron Lithium No. 1" product developed by Changzhou Lithium Source New Energy overcomes the problem of low battery endurance. The new product can indeed greatly improve the performance of lithium iron phosphate battery cathode materials in low temperature environments.
The technical highlight of "Iron Lithium No. 1" is the use of black technology energy ball technology to disintegrate the problem of low diffusion coefficient of Li+ and solve the problem of Li+ transportation difficulties, thus achieving a technological breakthrough of LFP ultra-low temperature and super magnification.
The emergence of "iron lithium No. 1" has solved the above pain points of lithium iron phosphate materials.
The innovative product is a new generation of lithium iron phosphate products invented by more than 20 R&D experts of Changzhou Lithium Source Shenzhen Research Institute for 8 years and more than 2,000 repeated experiments to solve the problem of low lithium ion diffusion coefficient, and finally invent a new generation of lithium iron phosphate products, whose performance is a revolutionary technological breakthrough for the power battery industry.
The general working principle of this technology is that by establishing a high-speed lithium ion transmission channel inside the cathode material, the discharge capacity retention rate of lithium iron phosphate material under the condition of -20 degrees can be increased from 55% of conventional lithium iron phosphate products to 85%, and the discharge capacity retention rate under the condition of -40 degrees is pulled from close to zero to 57%.
At the same time, the excellent fast charging performance is also a highlight of "Lithium Iron No. 1".
According to Lopal Technology calculations, the use of "lithium iron 1" material lithium iron phosphate battery, 4C fast charging only takes 15 minutes to reach a cruising range of 500 kilometers, you know, under the same conditions, conventional lithium iron phosphate battery fast charging takes 40 minutes.
Lithium iron phosphate batteries have accelerated their penetration in the passenger car field since 2021, accounting for more than half of the overall lithium battery shipments, and have become the mainstream choice of major new energy vehicles. GGII data, in 2021, domestic LFP lithium battery shipments were 171GWh, an increase of 2.4 times year-on-year, accounting for 52.3% of the overall lithium battery shipments; of which LFP power battery shipments were 117GWh, an increase of 2.7 times year-on-year.
The successful launch of "Iron Lithium No. 1" is enough to confirm that Lopal Technology has a good strength in technological innovation and is firmly optimistic about lithium iron phosphate batteries. At present, the product has obtained 5 national patents, and with some domestic battery manufacturers to achieve product matching, product supply is in short supply.
As a new recruit of lithium battery, Longpan Technology has only one year to lay out the lithium iron phosphate cathode material business across the border, but the results achieved are obvious. The revenue contribution of the lithium iron carbonate cathode materials business has exceeded its original traditional business, and the current investment in this business far exceeds the funds invested in the acquisition of Changzhou lithium source new energy.
Founded in 2003, Lopal Technology's industries now cover many fields such as lubricating oil and grease, automotive environmental protection urea, automotive maintenance products, intelligent equipment, hydrogen energy, lithium battery materials (mainly lithium iron phosphate cathode materials) and so on.
Longpan Technology originally started with the operation of lubricating oil products, at that time as a new force in the field of local lubricants, the newborn calves were not afraid of tigers, riding on the rise of domestic independent brands, coupled with their own great efforts, successfully ranked among the domestic private lubricant industry leaders.
"From now on, two years later, national lubricant brands will comprehensively defeat foreign lubricant brands in the market!" At the scene of the live broadcast of the fifth anniversary celebration of Lopal Technology on April 10, this amazing remark of chairman Shi Junfeng quickly spread throughout the automotive industry.
In 2020, once the "Lopal No. 1" high-end lubricant products were listed, they shouted out the slogan of "World Brand China Lopan", "Lopal No. 1" quickly became the leader in the field of national brand high-end lubricants, and sales in 2021 soared more than three times compared with the previous year, creating an income of 844 million yuan and a gross profit margin of 38.30%.
Aiming at the new energy track can be said to be a major strategic move of Lopal Technology. In 2018, it entered the new energy field by acquiring 70% of the equity of Jiangsu Ruilifeng New Energy Technology Co., Ltd.; and then in 2021, through the establishment of a holding subsidiary Changzhou Lithium Source, the acquisition of 100% of the equity of Beiterui (Tianjin) Nanomaterial Manufacturing Co., Ltd. and Jiangsu Beiterui Nano Technology Co., Ltd. further expanded the layout of lithium iron phosphate cathode materials, with the momentum of lightning and the completion of a gorgeous turnaround.
In December 2021, CATL increased its capital to Changzhou Lithium Source through its affiliates, and the registered capital increased to about 481 million yuan, an increase of about 35%. Subsidiary Changzhou Lithium Source received strategic investment from CATL, which will underwrite all 75,000 tons of production capacity by the end of 2023.
Shi Junfeng, chairman of Lopal Technology, said that in the next step, Changzhou Lithium Source will use the supporting advantages of Longpan Technology's main engine factory customers to promote the new lithium iron phosphate cathode material product "Lithium Source No. 1" to major car companies, so that this "black technology" new technology can serve more new energy vehicle users.
In 2021, Longpan Technology sold 30,500 tons of lithium iron phosphate cathode materials, achieving operating income of 1.877 billion yuan, accounting for 46.3% of revenue. In the future, with the release of production capacity, the revenue contribution of green energy businesses such as lithium battery cathode materials and hydrogen energy will be greatly improved.
Product strategy, S series lithium iron phosphate high capacity, high compaction, excellent circulation, widely used in pure electric vehicles, energy storage, two-wheel power and other fields; T series spherical lithium iron phosphate has high vibration, high compaction, high magnification, excellent low temperature and other performance advantages; the use of self-developed impurity removal technology and in situ reuse technology, the decommissioned battery repair cycle, Z series cascade utilization and recycling products, with lower processing costs and environmental protection cost advantages.
In terms of production capacity layout, the company has a production capacity of 90,000 tons of lithium iron phosphate in 2021, which is expected to reach 276,500 tons by 2022 and 500,000 tons in 2025. In the future, it will form a comprehensive production capacity layout of 264,000 tons of domestic lithium iron phosphate cathode material production capacity of 264,000 tons, iron phosphate annual production capacity of 150,000 tons, and overseas lithium iron phosphate cathode material annual production capacity of 100,000 tons, and actively play upstream and downstream synergies.
At present, in the deployment of Lopal Technology's four major domestic production bases and Indonesian overseas production bases, Sichuan Suining production base is close to upstream raw materials, forming an important strategic layout for business in the southwest market; Shandong Juancheng production base is facing the era of major customers Ningde, underwriting all production capacity in 2023 and before; Tianjin and Changzhou production bases are further expanded in the Beiterui Industrial Park; the Indonesian production base is the first overseas base in the industry, which helps to better develop business layout for overseas customers.
In terms of customer development, Lopal Technology's current main customers include Ningde Times, Zhongxin Airlines, BYD, Lishen, Ruipu, Sunwoda, Yiwei Lithium Energy, Wanxiang, Penghui Energy and other mainstream battery companies, and build a joint development mechanism with domestic and foreign enterprises and end customers.
At present, the company's first quarterly report has not yet been announced, from January to February 2022, the company achieved a total operating income of about 1.479 billion yuan, an increase of about 346.28% year-on-year; a net profit attributable to the shareholders of the listed company of about 147 million yuan, an increase of about 558.96% year-on-year.
Lithium battery cathode material pattern, lithium iron phosphate cathode material brother is the German nano, ternary cathode material of a leader is Rongbai technology, followed by Dangsheng technology, these are the old rivers and lakes in the industry, although Longpan Technology through the acquisition of Beiterui into the pocket, whether you can get a higher valuation still depends on the market share in the industry, lithium battery competition will only intensify, fortunately, Longpan Technology took the lead in this year, released the "iron lithium No. 1" big move, how will the German nano next step to take the move?
Author: Hui Ze Lee