TINCI(SZ:002709)2022-12-06 11:28Group 1: Business Performance Overview - In 2015, the revenue from lithium-ion battery materials reached approximately 450 million CNY, accounting for 47.94% of total revenue, surpassing personal care materials to become the largest business segment [3] - Personal care materials revenue remained stable compared to 2014, but gross margin increased due to a decline in upstream raw material prices [3] - The company adjusted its strategy in the organic silicone rubber materials segment to mitigate the impact of market price wars, resulting in an increase in gross margin [3] Group 2: Cost Structure and Pricing - Lithium carbonate accounts for about 30%-40% of the cost of lithium hexafluorophosphate (LiPF6) [4] - The price of LiPF6 is significantly influenced by the price of lithium carbonate, with recent market price increases attributed to supply-demand factors [4] - The market price of LIFSI (Lithium bis(fluorosulfonyl)imide) is currently around 800,000 to 1,500,000 CNY per ton, with efforts to reduce production costs through process innovation [4][5] Group 3: Future Developments and Market Trends - The company is currently building a pilot line for LIFSI with a capacity of 300 tons per year, expected to be completed in the second half of the year [4] - There is a complementary relationship between LIFSI and LiPF6, with LIFSI potentially replacing LiPF6 in specific applications [4] - The company remains optimistic about the future of lithium iron phosphate (LiFePO4) materials, which will continue to have applications in public transport and energy storage, despite debates about their replacement by ternary materials [5]