富临精工拓展机器人领域业务 关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ 3月10日晚间，富临精工（300432）发布公告，公司及控股子公司江西升华与宁德时代签署《战略合作协 议》， 富临精工子公司江西升华同时拟以增资扩股的方式引入战略投资者宁德时代 ， 宁德时代拟以人民 币40000万元认购江西升华新增注册资本33898万元，并 取得江西升华18.74%的股权 。 据悉，富临精工及子公司江西升华与宁德时代 在锂电材料业务已建立长期良好的合作关系 。江西升华是国 内磷酸铁锂正极材料草酸亚铁技术路线的开创者，具备独特的技术工艺路线以及行业领先的技术性能指标，目 前也是高压实磷酸铁锂产业领军企业。 战略合作协议约定，在锂电材料之外，富临精工与宁德时代 将进一步拓展在汽车及智能机器人等创新领域 增量零部件及关节的合作机会。 -广告- 公告称，此次与宁德时代签订战略合作协议，旨在进一步发挥各方在产业领域的专业与资源优势，实现在新能 源产业链上下游的合作，提升可持续发展和创新能力，共同推动构筑良性互动、绿色发展的新格局。有利于进 一步深化公司与国际头部企业在产业上下游方面建 ...

Investment Rating - The report assigns a "Buy" rating to the company [3]. Core Views - The company is a leading player in high-density lithium iron phosphate (LiFePO4) batteries and is actively expanding into the robotics sector, which is expected to contribute to new revenue streams [7]. - The company has established a strong position in the automotive parts industry and is advancing in the lithium iron phosphate market, with a focus on enhancing its robotics business [12]. - The company has signed long-term supply agreements with leading firms, including CATL, ensuring a stable demand for its products [7]. Financial Summary - Revenue for 2022 was 73.47 billion yuan, with a year-on-year growth of 176.6%. However, in 2023, revenue decreased to 57.61 billion yuan, reflecting a decline of 21.6% [2]. - The company is projected to achieve a net profit of 3.7 to 4.5 billion yuan in 2024, with a significant recovery expected in subsequent years [12]. - The earnings per share (EPS) is forecasted to be 0.33 yuan in 2024, increasing to 1.26 yuan by 2026 [2]. Business Segments - The lithium battery segment accounts for 54.21% of the company's revenue, while traditional automotive parts contribute 45.09% [13]. - The company has a robust product lineup in traditional automotive parts and is rapidly developing components for new energy vehicles, including electronic water/oil pumps and intelligent thermal management systems [7][12]. - The robotics segment is in its early stages, with a focus on supplying electric joint modules for robots, indicating potential for future growth [7][12]. Market Position - The company has established partnerships with major players in the industry, such as CATL, to enhance its supply chain and production capabilities [7]. - The company is expected to increase its production capacity significantly, with plans to reach nearly 500,000 tons of lithium iron phosphate by 2025 [7]. - The stock is currently trading at 22.88 yuan, with a target price of 23.63 yuan, indicating potential upside [3].

Summary of the Conference Call on 富临精工 Company Overview - The conference call focuses on 富临精工, a company involved in the production of high-pressure lithium iron phosphate (LiFePO4) materials, which are essential for the electric vehicle (EV) battery market. Key Points and Arguments Investment and Expansion - 宁德时代 (CATL) has made a pure equity investment of 400 million yuan in 富临精工, indicating strong recognition of its high-pressure LiFePO4 technology and support for future expansion [2][3] - By the end of 2025, 富临精工's total production capacity is expected to approach 500,000 tons, with effective capacity reaching 280,000 tons, which will help alleviate market supply-demand tensions and solidify its industry-leading position [2][4] Market Demand and Supply Dynamics - The demand for high-pressure LiFePO4 is driven by the rapid growth of the EV market, with major players like CATL increasing their procurement efforts [2][6] - CATL's 神行 battery is projected to increase the proportion of high-pressure LiFePO4 from 20% in 2024 to 70%-80% in 2025, significantly boosting overall demand [2][6] Production and Profitability Forecast - 富临精工's high-pressure LiFePO4 shipment volume is expected to reach 120,000 tons in 2024, doubling to 200,000-280,000 tons in 2025, with a potential release of 500,000 tons in 2026, reflecting a growth rate of 70%-80% [2][8] - The company anticipates a total profit of approximately 400 million yuan in 2024, increasing to 1.3 billion yuan in 2025, with a projected profit per ton of nearly 3,000 yuan [4][12] Strategic Partnerships - 富临精工 has established a strategic partnership with CATL in the robotics sector, focusing on industrial robots and humanoid robot projects, positioning itself as a core player in the robotics supply chain [4][9] - The company is collaborating with leading domestic robotics firms, enhancing its market position and benefiting from technological advancements in the sector [10][11] Raw Material Supply and Cost Management - 富临精工 plans to expand its production capacity for oxalic acid and lithium dihydrogen phosphate to secure raw material supply for half of its production capacity [15] - These measures are expected to mitigate the impact of rising raw material prices and improve profit margins, with a projected profit per ton of nearly 3,000 yuan [12][15] Future Outlook - In 2026, the company expects to maintain a shipment volume of 500,000 tons of high-pressure LiFePO4, with profits remaining around 3,000 yuan per ton [13] - The overall profit contribution from the iron phosphate business is projected to be around 1.5 billion yuan, with additional growth from the automotive parts business [14] Additional Important Insights - The high-pressure LiFePO4 market is experiencing significant demand growth, driven by the EV sector and the increasing performance requirements for batteries [6][8] - The strategic investments and partnerships are expected to enhance 富临精工's competitive edge and market share in both the lithium materials and robotics sectors [9][10]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company has deepened its strategic cooperation with Ningde, with a focus on high-pressure lithium iron phosphate technology and expansion into automotive and humanoid robot sectors [2][7] - The partnership includes a capital increase where Ningde invested 400 million yuan for an 18.7% stake in the company's subsidiary, enhancing collaboration in production and R&D [7] - The company is expected to double its output to 250,000 tons by 2025, with further growth anticipated in 2026 [7] Financial Summary - Total revenue is projected to grow from 5,761 million yuan in 2023 to 22,286 million yuan in 2026, reflecting a compound annual growth rate (CAGR) of 73.14% [1][8] - The net profit attributable to the parent company is expected to recover from a loss of 542.73 million yuan in 2023 to 1,706.22 million yuan in 2026, with a significant growth rate of 67.36% in 2026 [1][8] - The earnings per share (EPS) is forecasted to improve from -0.44 yuan in 2023 to 1.40 yuan in 2026 [1][8] Market Data - The closing price of the stock is 22.88 yuan, with a market capitalization of approximately 27.94 billion yuan [5] - The company has a price-to-earnings (P/E) ratio of 43.31 in 2022, which is expected to decrease to 16.38 by 2026 [1][5] Operational Insights - The company is enhancing its capabilities in robot components, having developed in-house manufacturing for key parts such as reducers and motors, and is forming partnerships to supply electric joint modules [7] - The integration of lithium phosphate production is expected to lower costs and improve profitability, with a projected net profit per ton increase to 0.2 million yuan [7]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company has deepened its strategic cooperation with CATL, with a focus on expanding into automotive and humanoid robot sectors [2] - CATL has invested 400 million RMB to acquire an 18.7% stake in the company's subsidiary, enhancing collaboration in lithium iron phosphate technology and production capacity [7] - The company is expected to double its output to 250,000 tons by 2025, with a projected increase to over 350,000 tons in 2026 [7] - The company aims to become a key supplier of robotic joint assemblies, leveraging its two years of experience in robot component development [7] - The financial forecast has been adjusted, with expected net profits of 4.1 billion RMB in 2024, 10.2 billion RMB in 2025, and 17.1 billion RMB in 2026, reflecting significant growth rates [7] Financial Summary - Total revenue is projected to grow from 5,761 million RMB in 2023 to 22,286 million RMB in 2026, with a compound annual growth rate of 73.14% [1][8] - The net profit is expected to recover from a loss of 542.73 million RMB in 2023 to a profit of 1,706.22 million RMB in 2026, indicating a strong turnaround [1][8] - The earnings per share (EPS) is forecasted to increase from -0.44 RMB in 2023 to 1.40 RMB in 2026 [1][8] - The price-to-earnings (P/E) ratio is projected to decrease from 68.19 in 2024 to 16.38 in 2026, suggesting improved valuation as earnings grow [1][8]

Investment Rating - The report maintains a "Buy" rating for the company [6]. Core Views - The company is deepening its strategic cooperation with CATL, expanding collaboration in the automotive and intelligent robotics sectors, in addition to the new energy industry [1][2]. - The company is actively expanding its lithium iron phosphate (LFP) production capacity through a strategic investment from CATL, which will enhance its valuation and production capabilities [3]. - The report forecasts significant growth in the company's net profit for 2024-2026, with expected figures of 416.55 million, 1.303 billion, and 1.722 billion RMB respectively, reflecting an upward adjustment in profit estimates [4]. Summary by Sections Strategic Cooperation - The company is expanding its partnership with CATL to include automotive and intelligent robotics components, building on previous announcements regarding joint ventures and production bases [1][2]. Production Capacity Expansion - The company’s LFP subsidiary, Jiangxi Shenghua, has introduced CATL as a strategic investor, acquiring an 18.74% stake for 400 million RMB, which raises the subsidiary's valuation to 2.13 billion RMB [3]. - New production capacity is set to be operational by April 30, 2025, with an additional 80,000 tons/year capacity in Jiangxi and 200,000 tons/year in Sichuan by the end of 2025 [3]. Financial Forecasts - The report projects a significant increase in revenue, with expected figures of 8.386 billion, 15.636 billion, and 23.073 billion RMB for 2024, 2025, and 2026 respectively, indicating growth rates of 45.56%, 86.46%, and 47.56% [10]. - The net profit forecast for 2024-2026 shows a strong recovery, with growth rates of 176.75% and 212.88% for 2025 and 2026 respectively [4][10]. Valuation - The target price for the company is set at 36.01 RMB, up from a previous estimate of 26.85 RMB, reflecting a positive outlook based on the company's strong pricing power and production expansion [4][7].

证券代码：300432 证券简称：富临精工 公告编号：2025-009 具体内容详见公司在巨潮资讯网披露的《关于控股子公司增资扩股暨引入战 略投资者的公告》（公告编号：2025-012）。 富临精工股份有限公司 第五届董事会第二十二次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 富临精工股份有限公司（以下简称"公司"）第五届董事会第二十二次会议通 知于 2025 年 3 月 6 日以电话等通讯方式向各位董事发出，并于 2025 年 3 月 10 日 以通讯表决方式召开。应出席会议的董事 9 人，实际出席会议的董事 9 人，公司 监事及高级管理人员列席了会议，会议由董事长王志红先生主持。会议的召集、 召开符合《公司法》及《公司章程》规定。 一、审议通过了《关于控股子公司增资扩股暨引入战略投资者的议案》 鉴于公司及控股子公司江西升华新材料有限公司（以下简称"江西升华"）与 宁德时代新能源科技股份有限公司（以下简称"宁德时代"）签署《战略合作协议》， 将在磷酸铁锂材料产品研发、产能投建、国际化拓展、供应链及资本等方面开展 长期可持续的深度合作，进一步 ...

证券代码：300432 证券简称：富临精工 公告编号：2025-012 富临精工股份有限公司 关于控股子公司增资扩股暨引入战略投资者的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 富临精工股份有限公司（以下简称"公司"、"富临精工"）于2025年3月10 日召开第五届董事会第二十二次会议、第五届监事会第十八次会议，审议通过了 《关于控股子公司增资扩股暨引入战略投资者的议案》，同意公司控股子公司江 西升华新材料有限公司（以下简称"江西升华"）以增资扩股方式引入战略投资 者宁德时代新能源科技股份有限公司（以下简称"宁德时代"）并签署《投资协 议》、《股东协议》。现将具体情况公告如下： 一、本次交易概述 （一）交易基本情况 鉴于公司及控股子公司江西升华与宁德时代签署《战略合作协议》，将在磷 酸铁锂材料产品研发、产能投建、国际化拓展、供应链及资本等方面开展长期可 持续的深度合作，进一步拓展在汽车及智能机器人等创新领域增量零部件及关节 的合作机会，以此达成战略伙伴关系。为进一步发挥各自在产业领域的专业与资 源优势，实现在新能源产业链上下游的合作，提升可持续发展和 ...

富临精工股份有限公司 证券代码：300432 证券简称：富临精工 公告编号：2025-010 表决结果：同意 3 票；反对 0 票；弃权 0 票。 特此公告。 富临精工股份有限公司 第五届监事会第十八次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 富临精工股份有限公司（以下简称"公司"）第五届监事会第十八次会议通 知于 2025 年 3 月 6 日以通讯方式向各位监事发出，并于 2025 年 3 月 10 日以现场 方式召开。应出席会议的监事 3 人，实际出席会议的监事 3 人。会议由监事会主 席胡国英女士主持。会议的召集、召开符合《公司法》及《公司章程》规定。 一、审议通过了《关于控股子公司增资扩股暨引入战略投资者的议案》 监事会认为，本次控股子公司江西升华新材料有限公司（以下简称"江西升 华"）以增资扩股方式引入宁德时代新能源科技股份有限公司（以下简称"宁德时 代"）作为战略投资者，是公司与宁德时代建立全面战略合作关系在股权与资本合 作层面的具体推进。有利于进一步优化江西升华资本结构，提升产能规模，不断 增强其资金实力及综合竞争力，有利于进 ...

证券代码：300432 证券简称：富临精工 公告编号：2025-011 富临精工股份有限公司 关于与宁德时代新能源科技股份有限公司签署战略合作协议的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 特别提示： 本协议为各方战略合作协议，具体合作项目各方另行协商签订正式协议组织 实施。公司将按照法律法规和《公司章程》的相关规定，对战略合作事项的落地 实施履行相应的审批程序和信息披露义务，敬请广大投资者注意投资风险。 一、协议签订的基本情况 为进一步发挥各自在产业内的禀赋优势，合作各方基于长期良好的合作关系， 经友好协商，富临精工股份有限公司（以下简称"公司"、"富临精工"）及控 股子公司江西升华新材料有限公司（以下简称"江西升华"）与宁德时代新能源 科技股份有限公司（以下简称"宁德时代"）签署《战略合作协议》，合作各方 将在磷酸铁锂材料产品研发、产能投建、国际化拓展、供应链及资本等方面开展 长期可持续的深度合作，进一步拓展在汽车及智能机器人等创新领域增量零部件 及关节的合作机会，以此达成战略伙伴关系。 根据《深圳证券交易所创业板股票上市规则》、《公司章程》等 ...