[Power battery industry "innovation bell" invisible how the domestic diaphragm companies layout new markets] In June 2018, the new energy autos set up in the "transition period" of subsidies will also end. According to the description in the new policy, the power batteries used in various types of vehicles must meet the required standards in order to obtain corresponding subsidies. This is undoubtedly a “fueling†of the power battery market where the original competitive situation is very fierce.
In the recent CIBF, the electric car resource network reporter interviewed a number of power battery industry giants, many voices have mentioned that under the influence of the new policy factors, pressure on the midstream and downstream enterprises of the power battery is increasing.
As one of the important materials of the power battery, the separator plays a role in separating the positive and negative electrodes of the lithium battery, preventing the two-pole contact from causing a short circuit and isolating the electron-conducting ions. At the same time, diaphragm manufacturing technology has always been considered by the industry as the most difficult technology to overcome in all battery materials, and it is also the highest gross profit rate among battery materials; with the gradual development of domestic diaphragm technology, localized products have replaced imported products. The more obvious the trend of the product.
Recently, a number of domestic lithium battery separator listed companies released the first quarterly report of 2018, let us take a look.
Star source material
Star Source Material's Profitability in the First Quarter of 2018
As one of the earlier domestic companies involved in the field of lithium battery separators, Xingyuan Materials mentioned in the first quarterly report of 2018 that the adjustment of the subsidy policy for new energy vehicles objectively reduced the purchase cost of vehicles, but the implementation of the policies themselves. There are certain uncertainties in the continuation and continuation, which will lead to changes in downstream customer demand and affect the performance of midstream companies. Currently, the main cooperative battery companies of Xingyuan Materials are LG Chemical, BYD, Guoxuan Hi-Tech, Tianjin Lishen, Wanxiang Group, Yiwei Lithium Energy, Hengdian East Magnetics, and Gateway Power.
At the same time, Xingyuan materials will also be available in the "3rd generation high-performance lithium-ion battery diaphragm production line expansion project", "Hefei Xingyuan" wet diaphragm production line construction projects, "an annual output of 360 million square meters lithium-ion battery Based on the strong projects such as the wet diaphragm and coated diaphragm project and the super coating plant, capacity expansion will be carried out in accordance with market development needs.
In the report, the author also noted that the source material mentioned that with the development of new energy automotive industry, lithium-ion batteries may be replaced by fuel cells, lithium metal batteries, zinc air batteries, and solid-state batteries in the future, resulting in lithium-ion batteries. The diaphragm company loses its current market position.
Zhuozhou Pearl
Luzhou Pearl's profit in the first quarter of 2018
Like the material of Xingyuan, the Pearl of Cangzhou also mentioned in the report that there are certain uncertainties in the implementation and implementation of various policies for new energy automobile policies, which may lead to fluctuations in the performance of diaphragm products. On the other hand, Zhuozhou Mingzhu mentioned that since the raw materials used for diaphragm production of Zhuozhou Pearl are downstream products of the petrochemical industry, their prices are greatly affected by the price fluctuations in the international crude oil market. At the same time, the cost of raw materials in product costs is relatively high, so the price of raw materials changes. It directly affects the operating performance of Zhuozhou Pearl.
At present, the cooperative enterprises of Zhuozhou Mingzhu mainly include BYD, CATL, Tianjin Lishen, Guoxuan Hi-Tech, and CNAC Lithium.
From the accounting data shown, the net profit attributable to listed shareholders during the reporting period of Chenzhou Pearl dropped by 59.58%. In this regard, the Pearl of Chuzhou explained that the sales price of BOPA film products decreased significantly with the adjustment of the market; sales of dry-process lithium-ion battery separator products decreased compared with the same period of last year, and the sales price also had a certain margin. Reduction in sales volume of wet-method lithium-ion battery separators, but the production capacity of new wet-process lithium-ion battery separators has not yet been fully released, resulting in higher production costs and lower product profitability.
Victory Precision
Victory Precision's profitability in the first quarter of 2018
It is understood that Victory Precision currently owns new energy business mainly for the lithium battery wet diaphragm. In 2017, there were two new base film production lines and five coating film production lines. There are now eight wet process membrane production lines, with a base film design capacity of nearly 400 million square meters per year; and 13 coating film production lines with a design capacity of 1. 200 million square meters/year. At present, it has been steadily supplying domestic and foreign power battery companies such as CATL, LG, and SDI.
In addition, Shengli Precision indicates that in the future, it will focus on increasing the output and sales of coating films.
Buddha Plastic Technology
Fosun Technology's profitability in the first quarter of 2018
The author learned from the report that Fosuopic Technology has a power lithium-ion battery R&D center project, and the Shanghai Institute of Ceramics, Chinese Academy of Sciences, has developed a new type of highly conductive graphene-carbon nanotube composite conductive agent paste. Good dispersion, can be applied to lithium iron phosphate power battery and ternary lithium ion battery.
The pilot lithium-ion battery production line has been completed, and a 1.2Ah high-power, long-life graphene 18650 battery has been tested, achieving a 60% charge capacity of 80%; a small pilot line development of a 3.2Ah energy 18650 battery has been completed. The energy density reaches 250Wh/kg.
At the same time, the report also mentioned that in the event of a change in the market environment of new energy vehicles, Fosuo Science and Technology will correctly understand the economic development situation and market development pattern under the new normal, and actively explore new opportunities in emerging industries and new fields. New markets, and increase their investment in differentiated high-end areas.
Summary: It can be seen from the quarterly reports of the above-mentioned several diaphragm companies that the introduction of the New Energy Automobile New Deal in 2018 will have a great impact on the entire industry chain. Among them, many companies mentioned that the implementation of policies and the uncertainty of implementation are the biggest factors affecting the battery separator industry.
On the other hand, major companies have also made relative changes and responses while being negatively affected. According to the author's interpretation of a number of reports, it was found that if a diaphragm company wants to obtain a “cup†in the new market environment in 2018, it must have the following conditions:
(1) Strong productivity. Many companies mentioned in the report that in 2018, new industrial lines will be built on existing industrial lines. The new production capacity will lead to a certain price drop. The compression of profits will allow many diaphragm companies without large-scale production capacity to be eliminated in advance.
(2) Strong capital. In addition to the acquisition plans mentioned in the report, many companies are also actively seeking capital upgrading and integration in order to achieve the goal of rapid expansion in the short term.
(3) High quality. Many of the diaphragm companies in the report have been bound by one or several battery companies. The provision of high-quality products will enable the diaphragm companies to better establish themselves in the midstream while attracting the attention of downstream companies.
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