FENGYUAN(SZ:002805)2022-12-15 12:26Group 1: Company Overview and Performance - Shandong Fengyuan Chemical Co., Ltd. has transitioned to focus on lithium battery cathode materials while maintaining its traditional oxalic acid business. [2] - In the first three quarters of 2022, the company achieved total revenue of ¥1,213,320,721.33, representing a year-on-year growth of 121.89%. [2] - The net profit attributable to shareholders was ¥150,492,997.41, with a significant increase of 288.93% year-on-year, driven by the rapid development of the new energy sector and strong demand from downstream customers. [2] Group 2: Production Capacity and Plans - By the end of 2022, the company's lithium battery cathode material production capacity is expected to reach 140,000 tons, including 125,000 tons of lithium iron phosphate and 15,000 tons of ternary materials. [3] - The company plans to increase its lithium battery cathode material capacity to 315,000 tons by mid-2023, with 300,000 tons of lithium iron phosphate and 15,000 tons of ternary materials. [3] - The production capacity for lithium iron phosphate is distributed across three bases: Zaozhuang (50,000 tons), Anqing (50,000 tons), and Yuxi (200,000 tons). [3] Group 3: Future Outlook and Strategic Initiatives - The company is actively researching sodium-ion and solid-state battery cathode materials, leveraging its technical reserves from the Zhongke Fengyuan High-Energy Lithium Battery Material Research Institute. [3] - The company has a current production capacity of 100,000 tons per year for industrial oxalic acid, refined oxalic acid, and oxalic acid derivatives, and will adjust capacity based on market conditions and customer demand. [4] - The company is progressing with its 1,000-ton clay lithium extraction pilot line, with equipment installation currently underway. [4] Group 4: Market Position and Competition - The company's largest customer is BYD, and further cooperation is expected as new production capacities are released. [4] - The industry is experiencing significant expansion plans, which may lead to structural overcapacity, particularly in mid-to-low-end products. The company aims to provide high-performance lithium battery cathode materials based on core customer needs. [4]