石大胜华：固态电池硅基负极投产交流(2)

Key Points Industry and Company Involved - Company: Dongfang New Energy, Shidashenghua - Industry: Lithium battery materials, electrolytes, solvents, silicon-based anodes Core Views and Arguments 1. Electrolyte Business Progress: - Production: Dongying and Wuhan bases began production in 2023 and 2024 respectively. Dongying base has monthly orders of 8,000 tons, and Wuhan base has 3,000 tons. Expected 2023 shipments of 55,000-60,000 tons, 120,000-150,000 tons in 2024. - Profitability: Current profit per ton thin, but expected to save 1,000-1,500 yuan per ton with normal operation of liquid lithium salt plants, becoming one of the lowest-cost electrolyte producers in China. Expected significant improvement in electrolyte profitability in 2024. [1] 2. Solvent Business Progress: - Capacity: 716,000 tons in Q3 2023, fully operational. Wuhan base 220,000 tons of carbonate in trial production. Multi-base layout in four bases to meet customer demand. Half of the output exported to Europe, America, Japan, and South Korea. - Market Share: Over 40% market share in high-end carbonate markets in Europe, America, Japan, and South Korea. Cooperation with multiple high-end customers, selling price 1,000-1,200 yuan/ton higher than domestic. Expected high profitability in 2024. [2] 3. Silicon-based Anode Business Progress: - Capacity: Mianyang base project started in 2023, expected to have 5,000 tons of capacity by the end of January 2025. Achieved 100 kg order shipments, planning to participate in power battery factory bidding in 2025, occupying a certain supply position in the power battery market. - Solid-state Battery: Customer certification for solid-state batteries reached B-sample stage, cooperation with multiple leading companies. Expected gradual increase in market demand for silicon-based anodes in the next few years, price in 300,000-400,000 yuan/ton range. [3] 4. Industry Supply and Price Trends: - Carbonate and Hexafluoride: Prices fluctuated in 2023, with prices low at the beginning of the year and rising with increased demand and international market exports. Prices rose again in the fourth quarter due to increased downstream demand. Hexafluoride prices closely related to lithium carbonate prices, expected to continue to be affected by lithium battery demand. [4] 5. Company Profitability: - Expected to further improve profitability of electrolytes and solvents through expanding exports and selecting high-end customers, locking in prices and profits. Expected significant improvement in profitability of electrolytes and solvents, especially in international markets. [5] Other Important Points - Financial Outlook: - Q3 2023 saw losses in the basic chemical sector due to falling international oil prices, but electrolyte and solvent businesses continued to be profitable. Expected overall profitability in the fourth quarter and significant improvement in overall profitability in 2024, with electrolyte and solvent businesses becoming the main sources of profitability. [6] - Q&A Session: - Detailed discussions on various aspects of the company's business, including electrolyte, solvent, and silicon-based anode businesses, market trends, and future plans. [7-30]