Keyword search: battery plant , lithium battery factory , power bank works , lifepo4 battery mill , lithium forklift battery manufacturer

On October 9, Black sesame announced that the company planned to increase the capital of the new energy company Tianchen New Energy Co., Ltd. by 500 million yuan. After the capital increase, Heizhi Mahjong held 59.09% of the shares of Tianchen New Energy, which became its holding subsidiary and was included in the consolidated statements.

According to the announcement, Black Sesame recently signed the Capital Increase Agreement on Tianchen New Energy Co., Ltd. with Tianchen New Energy, Tianchen New Energy (Shenzhen) Co., Ltd. (hereinafter referred to as Shenzhen Tianchen) and Dalian Zhongbi Power Lithium Battery Co., Ltd. (hereinafter referred to as Dalian Power Lithium Battery), and the company valued its 100% equity of its wholly-owned subsidiary Jiangxi Xiaoheixiaomi Food Co., Ltd. (hereinafter referred to as Jiangxi Xiaoheixiaomi) The insufficient part shall be supplemented with its own funds.

After this capital increase, Black sesame plans to build lithium iron phosphate battery production bases in Nanjing, Jiangsu Province and Nanchang, Jiangxi Province simultaneously to produce square lithium iron phosphate battery and other series products to meet the market demand for lithium energy storage batteries. According to the plan, a total of 6 production lines will be built in the two production bases. After completion, the production scale of 18GWh square lithium iron phosphate battery will be formed, and the annual sales revenue is expected to be about 13.6 billion yuan.

01. Tianchen New Energy focuses on lithium iron phosphate energy storage battery

According to public information, Tianchen New Energy is a company jointly funded by Black sesame, Tianchen New Energy (Shenzhen) Co., Ltd. and Dalian Zhiyun Automation Equipment Co., Ltd. in 2017. Black sesame holds 30% equity of Tianchen New Energy, Shenzhen Tianchen holds 68.80% equity of Tianchen New Energy, and Dalian Zhiyun holds 1.20% equity of Tianchen New Energy.

It is understood that Tianchen New Energy focuses on the integrated operation of lithium battery research and development, production, sales and supply of energy storage solution services in the field of energy storage. After the establishment of the company, it has achieved good results in product research and development and production technology research of square lithium iron phosphate battery, and currently has 130 related patented technologies. The company has long-term technical cooperation with Dalian Zhongbi Power Lithium Battery Co., Ltd., K2 and other domestic and foreign industry leading companies, and has provided relevant energy storage solutions for customers including Guodian Nanrui Technology and Yijiahe.

In recent years, Tianchen New Energy has focused on the research and development of lithium iron phosphate energy storage batteries and the research of related markets. It plans to focus on the production of 50AH, 100AH, 300AH and other types of lithium energy storage battery products, covering distributed household energy storage, power generation side energy storage and power grid side energy storage applications respectively, to meet the huge demand of the market.

Tianchen New Energy is currently constructing the production plant and related supporting facilities of the Nanjing production base. The investment budget of the base is 4.5 billion yuan (including the initial working capital). The first phase of the base project is expected to be completed and put into operation in June 2023. In addition, its planned investment budget for Nanchang production base is 3.5 billion yuan (including initial working capital), and the first phase of the base project is expected to be completed and put into operation in August 2023.

02. Difficulties in construction funds of follow-up projects

It is worth noting that the important reason for the capital increase of Black Sesame is that the construction fund of the follow-up project of Tianchen New Energy has encountered financial difficulties. According to the notice, Tianchen New Energy has invested in the construction of lithium battery production base in Nanjing, Jiangsu Province. At present, the infrastructure of the base has reached 80%. It was originally planned to be completed and put into operation in the first half of 2023.

The construction fund of the original production base of Tianchen New Energy is planned to be financed through bank financing and the parent company of its controlling shareholder, Shenzhen Tianchen, through the Hong Kong capital market financing. However, due to the fact that Tianchen New Energy and Shenzhen Tianchen have been identified as dishonest due to the same matter recently, the bank financing channel has not been feasible, and the capital market financing has also fallen sharply due to the turbulence and upheaval of the Hong Kong capital market in the past two years, And fell to a record low. It is unrealistic to raise funds from the Hong Kong capital market recently.

The management team of the company believed that it was the opportunity for Tianchen New Energy to accelerate its development. At the same time, from the company's perspective, the following shares of the company were important investment consideration for the capital increase of Tianchen New Energy, which could not only revitalize the company's idle assets in Nanchang, Jiangxi Province, but also would not adversely affect the company's existing business. Therefore, it was proposed that the company and its technical partners should increase the capital of Tianchen New Energy, And propose to convene the Board of Directors to review the matter.

The notice mentioned that the Dalian power lithium battery participating in the capital increase is a well-known domestic lithium battery production and operation company and a national high-tech company. It is a wholly-owned subsidiary of China Bicke Asia Holding Co., Ltd. and a wholly-owned subsidiary of China Bike Energy Technology Co., Ltd. (NASDAQ CBAT). Dalian power lithium battery has independent intellectual property rights and independent product brands for the design and large-scale production of power/energy storage batteries, And it is a long-term all-round technical partner of Shenzhen Tianchen. Its participation in this capital increase can provide reliable industrial technology and rich industry-related experience support for Tianchen New Energy.

03. Summary

The White Paper on China's Lithium Battery Industry Development Index points out that China has become the world's largest lithium battery consumption market for five years. In 2021, the global lithium battery market scale will reach 545GWh, of which, China's lithium battery market scale will be about 324GWh, accounting for 59.4% of the global market.

The huge market demand has led many companies such as Weiming Environmental Protection, Zhefu Holdings, Shanghai Baiyu, Hongdou, Songdu and Chuanyi Technology to enter the lithium battery market across the border. But it also brings some risks.

For example, although Black Sesame said that the completion of the project will have a significant beneficial impact on the company's financial situation and operating results in the future, which can further improve the company's profitability, create opportunities for rapid development and bring good economic benefits to investors, there are also the following risks: there is still uncertainty in the valuation of the physical assets as capital increase contributions this time; It is uncertain whether the company's proposed capital increase to Tianchen New Energy has been approved by all parties; Nanjing Production Base Phase I Project and Nanchang Production Base Phase I Project are expected to be completed next year. Tianchen New Energy has not yet sold lithium battery products, and it cannot contribute to the company's performance in this period and the next year; After the completion of the project, if it is affected by the market or policy environment, technical equipment, commercial operation and other factors, there may be a risk that it cannot achieve the expected income.

The Shenzhen Stock Exchange issued a letter of concern to Black Sesame on October 10, requesting detailed explanation of the specific reasons and rationality of the capital reduction of Tianchen New Energy in 2021 and the subsequent two capital increases, and whether there is any contradiction in the disclosure contents of the relevant notices; Whether the company is in hot spots.

In short, although the lithium battery circuit is hot, the company should consider many factors such as capital, strength and relevant experience before crossing the border to prevent blind investment from leading to failure.

Lithium ForkLift Batteries ,Ensure Quality

Our lithium battery production line has a complete and scientific quality management system

Ensure the product quality of lithium batteries

Years of experience in producing lithium forklift batteries

Focus on the production of lithium batteries

WE PROMISE TO MAKE EVERY LITHIUM BATTERY WELL

We have a comprehensive explanation of lithium batteries

QUALIFICATION CERTIFICATE

THE QUALITY OF COMPLIANCE PROVIDES GUARANTEE FOR CUSTOMERS

MULTIPLE QUALIFICATION CERTIFICATES TO ENSURE STABLE PRODUCT QUALITY

Providing customers with professional and assured products is the guarantee of our continuous progress.

Applicable brands of our products