On November 11, the project of efficient green treatment and comprehensive recycling of waste lead batteries of Huabo Technology, a subsidiary of Nandu Power Holding, was officially put into operation. Zhu Baoyi, director and vice president of Nandu Power Supply and general manager of Huabo Technology, said that after the project reaches its capacity, Huabo Technology will have a total annual treatment capacity of 1.2 million tons of waste lead batteries, making it the world's largest lead resource recycling plant.
It is understood that Nandu Power spent 1.96 billion yuan last year to achieve a wholly-owned holding of Huabo Technology. This year's interim report shows that Huabo Technology has become the main profit maker of the company after full consolidation. In the first half of this year, the operating income was 2.323 billion yuan, up 37.61% year on year, and the net profit was 359 million yuan, slightly exceeding the expectation. As the lead price remains high and the expansion of the waste lead battery project is imminent, the profitability of Huabo Technology will be significantly improved.
The main business of Nandu Power includes the R&D, manufacturing and sales of a full range of backup power supplies, energy storage power supplies, power supplies and systems. At the same time, the company conducts industrial layout in the field of lead resource recovery. In order to further improve the industrial chain and strengthen the layout in the lead recovery industry, in March 2017, Nandu Power acquired the remaining 49% equity of Huabo Technology by issuing shares and paying cash at a price of 1.96 billion yuan, realizing a wholly-owned holding.
After the full consolidation, the performance of Huabo Technology has grown steadily. In the first half of 2018, benefiting from the high price of recycled lead, Huabo Technology achieved an operating revenue of 2.323 billion yuan, a year-on-year increase of 37.61%, and a net profit of 359 million yuan. Huabo Technology's contribution to the performance of Nandu Power Supply increased by 312.77% year-on-year. In the first half of this year, the price of recycled lead increased from 18,000 yuan/ton at the end of 2017 to 20,000 yuan/ton, improving the profitability of lead recovery business. In the first half of this year, the gross profit margin of power resource regeneration business in Nandu was 13.39%, up 8.11 percentage points year on year.
According to data, the country produces more than 5 million tons of waste lead batteries every year. If they cannot be recycled scientifically, they will become a serious potential environmental pollution hazard. Although some lead-acid batteries are being replaced by lithium batteries or other types of batteries, lead-acid batteries still dominate the electric vehicle industry. At present, most electric bicycles and tricycles still use lead-acid batteries as boost batteries.
The policy of waste battery recycling and battery cascade utilization has been constantly strengthened. The Ministry of Ecology and Environment and the Ministry of Industry and Information Technology have respectively issued the specifications for the renewable lead industry and the recycling plan for waste batteries of new energy vehicles. The introduction of these policies has raised the environmental requirements and raised the industry access threshold. Last July, Nandu Power started the construction of Huabo Technology Phase II Project. Until November 11 this year, the second phase of the project has been initially put into operation. After putting into operation, the disposal capacity of waste lead batteries will reach 1.2 million tons. It will further build a comprehensive utilization platform for lithium battery recovery, lead battery recovery and other non-ferrous metal recovery, and open up the power, energy storage, communication and resource recovery industry chain.
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