KMCJNC(300505)2023-07-26 11:11Company Overview - Founded in June 2005 and listed on the Shenzhen Stock Exchange in March 2016 [3] - Strategic focus on "phosphorus" as the core, with development in phosphate and fertilizer sectors, and expansion into electrochemical materials [3] - Four major production bases: Kunming Dongchuan (feed-grade and fertilizer-grade phosphates), Guangxi Chuannuo (industrial purified phosphoric acid and phosphate fertilizers), Guangxi New Energy (lithium iron phosphate), and Kunming Jingcui (R&D center) [4] Production and Capacity - Dongchuan Base: 200,000 tons/year of crude phosphoric acid, 450,000 tons/year of feed-grade phosphates, 150,000 tons/year of superphosphate [5] - Guangxi Base: 200,000 tons/year of crude phosphoric acid, 100,000 tons/year of wet-process purified phosphoric acid, 140,000 tons/year of superphosphate [5] - 5,000 tons/year of lithium iron phosphate capacity at Dongchuan Base, and 4,000 tons/year of lithium iron phosphate capacity at Yingkou Chuannuo [5] - 10,000 tons/year of purified phosphoric acid capacity at Guangxi Chuannuo, with plans to expand to 15,000 tons/year in 2023 [5] Market and Sales - Traditional phosphorus chemical products: 60% export, 40% domestic sales, with superphosphate exports exceeding 90% [5] - Lithium iron phosphate business is operating at full capacity, with major customers including Narada Power and CALB [5] - Superphosphate exports primarily to South America, the Middle East, and Southeast Asia [6] Strategic Advantages - Leading position in superphosphate, calcium dihydrogen phosphate, and calcium monohydrogen phosphate markets [5] - Self-developed technology for producing food-grade wet-process purified phosphoric acid, leading the industry [5] - Integration of phosphorus chemical and electrochemical industries to reduce costs of lithium iron phosphate [5] - Guangxi Base's port location facilitates exports and imports of raw materials [5] Future Outlook - Superphosphate prices are expected to recover due to low downstream inventory and geopolitical factors [4] - Plans to expand overseas phosphorus mining operations, with technical and economic evaluations in countries like Morocco, Algeria, and Egypt [4] - Feed-grade phosphate demand is expected to increase as global meat consumption recovers post-pandemic [6] - Improved export environment for superphosphate in 2023 due to relaxed national inspection policies [6]