YONGTAI TECH.(SZ:002326)2022-11-21 16:18Company Overview - Zhejiang Yongtai Technology Co., Ltd. was established in 1999 and listed in 2009, headquartered in Taizhou, Zhejiang Province [1] - The company primarily produces fluorine fine chemicals, with main products categorized into three areas: pharmaceuticals, pesticides, and lithium battery materials [1] - The company reported a revenue of CNY 197.61 million in the first half of 2021, a year-on-year increase of 24.54%, and a net profit of CNY 17.74 million, up 61.16% year-on-year [1] Core Technologies - The company has developed four core technologies based on fluorination: 1. Directional fluorination technology, leading globally [2] 2. Advanced chiral enzyme catalysis technology, improving production efficiency and reducing costs [2] 3. Green reaction technology, with a national patent award for 2,4,5-trifluorobenzylacetic acid [2] 4. Co-production patent technology, allowing for the utilization of by-products [2] Lithium Battery Materials Business - The company produces high-quality lithium battery materials, including lithium hexafluorophosphate (LiPF6) and lithium bis(fluorosulfonyl)imide (LiFSI) [2] - The company has a 75% stake in Shaowu Yongtai High-tech Materials Co., Ltd., with a current production capacity of 2,000 tons/year for LiPF6, expected to expand to 8,000 tons/year by the end of 2021 [2] - A project for an annual production capacity of 20,000 tons of LiPF6 is underway, with preliminary assessments in progress [2] Production Expansion and Market Strategy - The company is expanding production for VC (vinylene carbonate) and FEC (fluoroethylene carbonate) due to increasing demand in the lithium battery sector [3] - The company is cautious about potential oversupply and price drops, conducting feasibility analyses based on conservative price forecasts [3] - The company aims to maintain competitive gross margins by optimizing product quality and costs while establishing long-term partnerships with major downstream clients [4] Future Outlook - The company has signed a 5.5-year agreement with CATL to ensure stable cooperation with leading enterprises [4] - The company is focused on becoming a core supplier of upstream materials for electrolytes, including LiPF6, LiFSI, VC, and FEC, while considering future adjustments to its industrial layout based on market demands [4]