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This is another lithium battery industry chain company with a strong gambling nature.

Although the chairman was halfway through his career, he took the lead in breaking into the highly demanding TSLA supply chain in China.

In the words of Luo Aiping, founder and chairman of Fangyuan Group, "In 2002, I started my own business as a university professor, and many people felt sorry at that time. There were indeed many things I didn't understand at that time, but I bravely took that step

At present, Fangyuan Co., Ltd. is the only supplier in China that can stably and in large quantities supply NCA precursors for Panasonic batteries.

This company delivered exceptionally impressive transcripts in the first half of this year, and its net profit increased by 12 times year-on-year! According to the interim results released by Fangyuan Group on August 17th, it achieved a revenue of 903 million yuan in the first half of this year, a year-on-year increase of 207.87%; The net profit attributable to the owners of the parent company was 53.9198 million yuan, a year-on-year increase of 1204.01%.

In early August, Fangyuan Shares was listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange, and its stock price surged by 640% on its first day of listing!

Why is Fangyuan's performance so impressive?

The export volume of NCA precursor ranks first

According to the data released by the China Passenger Transport Association, the wholesale and retail sales of new energy vehicles in China exceeded one million in the first half of this year. Wholesale of 1.087 million new energy passenger vehicles from January to June, a year-on-year increase of 231.5%; The retail volume was 1.001 million units, a year-on-year increase of 218.9%. According to data from the China Automobile Association, it is expected that the predicted sales of new energy passenger vehicles will increase to 2.4 million units this year.

From January to June this year, the cumulative installed capacity of lithium batteries in China reached 52.5GWh, an increase of over 200% year-on-year. Among them, the installed capacity of ternary batteries is 30.2GWh, accounting for 57.5%, with a cumulative increase of 139.0% year-on-year; The installed capacity of lithium iron phosphate battery is 22.2GWh, accounting for 42.3%, up 368.5% year on year.

Fangyuan Co., Ltd. stated that benefiting from the high prosperity of the downstream new energy vehicle industry, it has driven the rapid development of the lithium battery industry, which in turn has driven the strong demand for ternary precursors. The company's production continues to release, and the company's product sales have increased significantly. In the first half of the year, the total operating revenue achieved a significant increase year-on-year.

According to China's understanding of batteries, Fangyuan Corporation is a leading manufacturer of NCA cathode material precursors for lithium batteries. According to the 2020 annual report, Fangyuan Corporation's main business includes NCA ternary precursors, NCM ternary precursors, cobalt sulfate, spherical nickel hydroxide, and other businesses, accounting for 51.35%, 33.67%, 8.6%, 6.34%, and 0.04% of revenue, respectively.

In terms of product sales, Fangyuan Co., Ltd. has always adhered to the key customer strategy.

As early as 2017, Fangyuan Co., Ltd. began selling high nickel NCA ternary precursors to TSLA supplier Panasonic, for Panasonic to manufacture high energy density ternary lithium batteries and use them in TSLA electric vehicles. Ultimately, it has become the only supplier in China that can stably and in large quantities supply NCA precursors for Panasonic batteries. At present, domestic high nickel NCA precursor products are mainly exported, and Fangyuan Co., Ltd. maintained the top export volume of NCA precursor products in China from 2018 to 2020.

In addition, Fangyuan Co., Ltd. has established good cooperative relationships with mainstream lithium battery or positive electrode material manufacturers at home and abroad, such as Beiterui, Shanshan Energy, BYD, Tianli Lithium Energy, Keheng Co., Ltd., Samsung SDI, and Dangsheng Technology. Through continuous technological innovation and process optimization, stable product quality and cost advantages, we have expanded our deep cooperative relationships.

Unique technology of "extracting impurities without extracting nickel"

However, although Fangyuan Shares has a strong momentum and important customer orders are constantly increasing, looking at the entire industry, the company does not have an advantage in production.

Industry data shows that in 2020, there were five companies in China with a total annual production of ternary precursor materials exceeding 30000 tons, namely Zhongwei Group, Hunan Bangpu, Greenway, Huayou Cobalt Industry, and Meimei Technology. Among them, Zhongwei Group's ternary precursor production exceeded 70000 tons, which is in an absolute leading position. In 2020, there were 10 companies in China that produced over 10000 tons of ternary precursor materials.

Obviously, in TOP5 company, there is no presence of Fangyuan Co., Ltd. Therefore, breaking through the production bottleneck has become the top priority for Fangyuan Group. This time, Fangyuan Co., Ltd. raised a total of 366 million yuan through its IPO, which is planned to be used for the annual production of 50000 tons of high-end ternary lithium battery precursors (NCA, NCM) and 10000 tons of battery lithium hydroxide project.

Fangyuan Co., Ltd. stated that the project invested in this IPO will be used to expand the production of high nickel ternary cathode material precursors and optimize production

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