how to solve the internal competition in the industry? the battery "diaphragm king" continues to increase its overseas investment, with a total investment of 5.5 billion yuan this year
2024-09-25
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three months later, yunnan enjie new materials co., ltd. (hereinafter referred to as "enjie co., ltd.", 002812.sz), the domestic king of battery separators, has once again increased its overseas production capacity layout. so far this year, the company has publicly disclosed overseas investment expansion twice, with a total investment amount of approximately rmb 5.5 billion.
on the evening of september 23, enjie co., ltd. announced that the 31st meeting of the 5th board of directors held on the same day reviewed and approved the "proposal on the holding subsidiary to invest in the construction of a lithium battery separator project in malaysia", agreeing that the company's holding subsidiary shanghai enjie new materials technology co., ltd. (hereinafter referred to as "shanghai enjie") would establish a new subsidiary in malaysia to invest in the construction of a lithium battery separator project.
the above project is planned to have a production capacity of about 1 billion square meters per year, and the total investment of the project is expected to be about 2 billion yuan. enjie co., ltd. said that the funds will be solved through the company's own funds and self-raised funds. at the same time, it is planned to authorize the company's management to implement specific investment matters (including but not limited to signing relevant investment contracts, establishing a malaysian subsidiary, land acquisition, investment planning implementation, etc.), and there is no need to go through the review procedure again within the scope of authorization.
the announcement stated that this project will build lithium battery separator production capacity in malaysia based on the company's many years of manufacturing advantages and operating experience in lithium battery separators. this overseas investment is in line with the company's development strategy and long-term planning, and will further promote the smooth progress of the company's overseas business. it will continue to strengthen the company's market leadership in the field of lithium battery separators, and is of great strategic significance to the company's improvement of its global industrial layout.
enjie co., ltd. was formerly yunnan innovation new materials co., ltd. the company was listed on the shenzhen stock exchange in september 2016. its products include three categories: membrane products (including lithium battery separators, bopp films), packaging and printing products (cigarette labels and aseptic packaging), and packaging products (specialty paper, holographic anti-counterfeiting electrochemical aluminum and other products). in the early days of listing, the company's main business was cigarette packaging production. after completing a major asset reorganization in 2018, the company's business expanded to include lithium battery separator products, and has since entered the new energy industry.
according to enjie co., ltd.'s 2024 semi-annual report, the company's main customers are large domestic and foreign lithium battery manufacturers, food and beverage manufacturers, plastic packaging companies, printing companies, etc. among them, the company's main customers for wet-process lithium-ion battery separator products include panasonic, lges, an overseas car company, acc, ulitium, catl, sinotruk, guoxuan high-tech, eve energy, byd, farasis, lishen and other mainstream lithium battery companies at home and abroad.
as one of the four key materials of lithium batteries, lithium battery separators are widely used in electric vehicles, consumer electronics, energy storage batteries and other fields. in the structure of lithium batteries, the separator is one of the key inner components. its main function is to separate the positive and negative electrodes of the battery, ensuring the passage of lithium ions while hindering the transmission of electrons. it is a thin film with a microporous structure that has the function of preventing the battery from overheating. the performance of the separator determines the interface structure and internal resistance of the battery, and affects the capacity and cycle of the battery.
enjie co., ltd. introduced that as a leading company in the lithium battery separator industry, the company not only has significant competitiveness in global production capacity layout, product quality, cost-effectiveness and technology research and development, but has also successfully entered the supply chain system of most of the world's mainstream lithium battery manufacturers, covering the three major areas of power, consumer and energy storage lithium batteries.
however, competition in the separator industry has become increasingly fierce since 2023. in the first half of this year, the overall supply and demand pattern of the lithium battery separator industry was slightly loose, coupled with the downstream cost reduction pressure and intensified market competition, resulting in a continued decline in the price of lithium battery separator products.
enjie co., ltd. said that the company actively responded to market competition, actively explored domestic and foreign markets, built production capacity, especially increased the scale of overseas production capacity construction, to meet the global mid-to-high-end lithium battery customers for the company's highly consistent and safe wet-process diaphragm products and services.
in the first half of this year, enjie co., ltd.'s revenue was 4.783 billion yuan, a year-on-year decrease of 14.10%; the net profit attributable to shareholders of the listed company was 291 million yuan, a year-on-year decrease of 79.28%. among them, the operating income of lithium battery separators was 3.861 billion yuan (a year-on-year decrease of 17.17%), accounting for 80.73% of the operating income.
in terms of overseas layout, on june 17, enjie co., ltd. announced that in order to meet the needs of overseas customers for the stability and timeliness of the company's wet-process lithium battery separator product supply, strengthen the company's wet-process lithium battery separator business overseas market development, realize global layout, and further enhance the company's international influence, the company's wholly-owned subsidiary semcorp hungary korlátolt felelősségű társaság (hereinafter referred to as "semcorp hungary kft.") is the main body to invest in the construction of the second phase of wet-process lithium battery separator production line and supporting factory in debrecen, hungary (hereinafter referred to as the "hungary phase ii project").
the hungarian phase ii project mainly carries out the manufacture and sales of wet-process base films and functional coated diaphragms for lithium batteries. the project plans to build four fully automatic imported film production lines and supporting coating production lines with a total capacity of approximately 800 million square meters per year. the total investment in the project is estimated to be approximately 447 million euros (including approximately 165 million euros for construction costs, approximately 192 million euros for machinery and equipment costs, and approximately 90 million euros for working capital).
enjie co., ltd. also focused on the company's overseas layout in a recent investor event, saying that this is one of the measures to cope with intensified competition in the industry.
enjie co., ltd. believes that it is one of the earliest companies in the industry chain to carry out overseas layout and has first-mover advantage. at the same time, the company has advantages in product quality, overseas customers, r&d, patents and funds, which can ensure the construction of overseas production bases and market development.
in particular, he mentioned that the company has many global leading overseas customers, such as lges, panasonic, ultium, a large overseas automobile company, france's acc, northvolt, ppes (a joint venture between toyota and panasonic), morrow industrialization center as, and indian customer exide energy solutions limited; in addition, there are large and well-known chinese lithium battery companies such as catl, sinovation, eve energy, guoxuan high-tech, byd, xinwanda, etc. many domestic customers are also increasing their overseas investment, especially in europe, where the progress is relatively fast. the company needs to speed up overseas construction to meet the growing demand for diaphragms from overseas customers and domestic overseas customers in the future.
so far, enjie co., ltd. has invested in the hungarian phase i project, phase ii project and us project overseas. among them, the hungarian phase i project has been completed and is now in the verification stage of multiple overseas customers. it is expected to start production and supply in the fourth quarter of this year; the hungarian phase ii project plans to build a lithium battery separator film project with an annual production capacity of 800 million square meters; in addition, the company is also building a coating plant with an annual production capacity of approximately 700 million square meters in ohio, usa.
it takes about 2-3 years for these overseas factories to form a stable supply from the beginning of construction. enjie co., ltd. mentioned that it takes about 1 year for domestic civil engineering, factory building construction, supporting facilities, etc., followed by production line installation and commissioning. the most important thing is customer verification, which takes about 1 year for domestic customers and 1-2 years for overseas customers. the overseas civil engineering time is longer than that in china, so the overall overseas construction to production cycle is longer.
thepaper.cn reporter he liping
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