Abstract: In 2023, the output of beiteri anode materials will be 376,900 tons, a year-on-year increase of 10.72%, the sales volume will be 361,900 tons, a year-on-year increase of 9.53%, the company's cathode material output will be 40,800 tons, a year-on-year increase of 22.89%, and the sales volume will be 41,000 tons, a year-on-year increase of 25.77%.
Photo/Beiteri
On the evening of April 15, beiteri (835185) released its 2023 annual report. In 2023, under the background of intensified competitive pressure in the global lithium battery materials industry, beiteri, a leading global anode material company, will upgrade internally to improve efficiency, create value externally, and solidly promote various tasks. In 2023, the company achieved operating income of 25.119 billion yuan, down 2.18% year-on-year, net profit attributable to the parent company of 1.654 billion yuan, down 28.42% year-on-year, and net profit attributable to the parent company of 1.580 billion yuan, down 2.59% year-on-year. Compared with the data of the same period of the previous year, the gap between the overall revenue and the net profit deducted from the non-attributable parent is not large, and the industry shows business resilience during the downturn.
Production and sales increased steadily, demonstrating business resilience
In 2023, the lithium battery cathode and anode materials industry will generally face the development pressure of destocking and reducing costs. In the downturn of the industry, relying on efficient operation and management capabilities, complete layout of the whole industry chain, leading product and technology advantages, global high-end customer network and the gradual release of production capacity, the company's production and sales volume have steadily increased, demonstrating business resilience.
In the field of anode materials, beiteri lays out natural graphite, artificial graphite and silicon-based anode product systems. In 2023, the company's anode material output will be 376,900 tons, a year-on-year increase of 10.72%, sales volume will be 361,900 tons, a year-on-year increase of 9.53%, sales revenue will be 12.296 billion yuan, and gross profit margin will be 24.36%, an increase of 3.85 percentage points year-on-year.
In the field of cathode materials, the high-nickel ternary cathode materials represented by NCA and NCM811 produced by beiteri have the characteristics of high energy density and high cost performance. In 2023, the company's cathode material output will be 40,800 tons, a year-on-year increase of 22.89%, sales volume will be 41,000 tons, a year-on-year increase of 25.77%, sales revenue will be 12.312 billion yuan, a year-on-year increase of 19.52%, and gross profit margin will be 10.15%, an increase of 2.46 percentage points year-on-year, realizing the rapid growth of cathode materials business.
Deepening lean management, reducing costs and increasing efficiency, the quality of operation has been significantly improved
In the face of the challenge of high-priced inventory and product price reduction, the profitability of lithium battery material companies has been compressed. Starting from itself, seeking to reduce costs and increase efficiency and lean management has become an important competitiveness of enterprises. In 2023, beiteri will comprehensively implement the concept of cost reduction and efficiency improvement around raw material procurement and core processes, so that the cost of raw materials will be further reduced. In 2023, the company achieved a gross profit margin of 17.66%, an increase of 1.83 percentage points from 2022. At the same time, the company has continuously upgraded its lean management system, strengthened inventory control, increased the recovery of accounts receivable, improved the efficiency of capital turnover and operating capacity, significantly improved the company's cash flow situation, further optimized the company's financial structure, and provided the company with stronger resilience in the face of fluctuations in the industrial cycle. In 2023, the company's inventory accounted for 8.78% of total assets, a decrease of 4.87 percentage points from 2022, the company's net cash flow from operating activities was 5.260 billion yuan, a net increase of 5.549 billion yuan from 2022, and the company's asset-liability ratio was 53.21% by the end of 2023, a decrease of 10.54 percentage points from 2022.
In addition, beiteri actively promotes the improvement of graphitization self-supply rate to ensure the stability of the supply chain and product quality. In 2023, the company's subsidiaries Sichuan Rui'an and Shandong Ruiyang anode projects will be put into operation one after another, and it is expected that Shanxi Ruijun and Yunnan beiteri graphitization production lines will be completed and put into operation in 2024.
Increase overseas layout, globalization strategy rapid advancement
At present, the competition in the domestic lithium battery material market is intensifying, and the low penetration rate of the overseas new energy vehicle market and the introduction of localization protection policies for the lithium battery industry chain in Europe and the United States have started a new journey for lithium battery material companies to build factories overseas.
In terms of global layout, beiteri is at the forefront of the industry. In 2023, beiteri will fully grasp the new opportunities of international development, accelerate the globalization strategy, and increase overseas layout to increase global market share. In the field of anode materials, the company's Indonesia anode material integration project with an annual output of 80,000 tons (phase I) is under active construction, and at the same time, the new plan Indonesia anode material integration project with an annual output of 80,000 tons (phase II). So far, beiteri has planned an integrated production capacity of 160,000 tons/year of anode materials in Indonesia. In the field of cathode materials, the company plans to invest in the construction of a lithium battery cathode material project with an annual output of 50,000 tons in Morocco. In the field of supply chain layout, the company will cooperate with Evolution of Australia on the production, sales and downstream cooperation of the Chilalo graphite mine project under its rights and interests, so as to ensure product quality and improve the overseas supply chain layout.
Forward-looking layout of a number of new battery materials to build long-term competitive advantages
As a new energy materials R&D and manufacturing enterprise, beiteri has always adhered to the guidance of technological innovation, led product technology innovation through continuous and high-intensity R&D investment, and built a long-term competitive advantage. In 2023, the company's R&D investment will be 958 million yuan, accounting for 3.82% of the year's operating income. The high-intensity R&D investment has brought fruitful product and technical achievements to the company.
In the field of silicon-based anode, beiteri silicon carbon anode material has developed the fifth generation of products, with a specific capacity of more than 2000mAh/g, and silicon-oxygen anode material has completed the technical development and mass production of a variety of silicon oxide products, with a specific capacity of more than 1500mAh/g. As of the end of the reporting period, the production capacity of silicon-based anode materials was 5,000 tons/year, and the shipment volume was industry-leading.
In the field of hydrogen fuel cells, beiteri has independently developed the "pore optimization" technology to ensure the pore channels of multi-material transmission, and developed porous electrode carbon materials suitable for advanced hydrogen fuel cell membrane electrodes. The company has developed new materials such as the fuel cell catalytic layer carbon material "hydrogen exploration BMC" and the new diffusion layer carbon material "hydrogen exploration BGD", which have achieved a breakthrough in the industrialization of multi-level mesoporous carbon carriers.
In the field of solid-state batteries, beiteri has developed semi-solid and all-solid-state electrolyte technologies to provide a high-safety and high-energy-density battery material solution. The three technical routes of oxide solid electrolyte, polymer solid electrolyte and sulfide solid electrolyte are adopted to minimize the amount of electrolyte and help improve the safety, rate performance and energy density of solid-state batteries.
In the field of sodium batteries, beiteri has released the sodium-ion battery anode material "Tan Na 350" with a specific capacity of up to 350mAh/g and a first charge and discharge efficiency of 90%, and the cathode material "Beina-O3B" for sodium-ion batteries with a specific capacity of up to 145mAh/g and a compacted density of more than 3.4g/cc. At present, the company's sodium electrocathode and anode materials have passed the certification of some domestic customers, realized orders above tonnage, and have the conditions for mass production and supply.
