The operating comments of the board of directors of Rongbai Technology in the first quarter of 2024 are as follows:
The first quarter of 2024Slotocash100nodepositbonus2022The global new energy market shows a trend of steady growth. According to data from SNER, Xingong Lithium and other institutions, from January to February 2024, the global installed capacity of power batteries reached 92%.Slotocash100nodepositbonus2022.4GWh, an increase of 27% over the same period last year. The overall shipping scale of ternary materials continued to increase. In the first quarter, the global output of ternary materials reached 234000 tons, an increase of 3.1% over the same period last year. The domestic output of ternary materials reached 156000 tons, an increase of 23.8% over the same period last year. Among them, the global output of ternary materials in March was 88000 tons, an increase of 13%.
During the reporting period, the company's profits were temporarily under pressure due to the intensification of market competition, the decline in raw material prices and other factors. However, since March, the company's operation has rebounded rapidly, not only from loss to profit, but also a month-on-month increase of more than 80%, reaching an all-time high, and is expected to continue to increase in the second quarter. With the continuous improvement of market share and capacity utilization, the scale advantage of the company is becoming increasingly apparent, and the bargaining power in the industrial chain will be further enhanced. The company will take measures to reduce costs and increase efficiency, such as continuously strengthening supply chain management and promoting technological upgrading to ensure that the profit per ton is maintained within a reasonable range.
In the face of the development opportunity of the global new energy vehicle industry, the company has formulated the management strategy of globalization strategy based on the first-mover advantage of overseas layout, and took the lead in completing the integrated layout of positive pole, precursor and recycling in South Korea. 20, 000 tons / year positive electrode and 6000 tons / year precursor production capacity have been built. In addition, in order to meet the needs of international customers, the company accelerated the construction of Korean Phase II production capacity of 40,000 tons of high nickel ternary and 20,000 tons of phosphate, and during the reporting period, the company completed the registration of subsidiaries in North America and made substantial progress in the layout of capacity in Europe.
1. Sales continue to lead, with the global market share reaching 12.5% in March, a record high.
During the reporting period, the company's product sales maintained a steady growth, and the leading effect was further clarified. Sales of ternary cathode materials exceeded 26000 tons, with a global market share of more than 11%, an increase of 1% from the previous month, and a domestic market share of more than 18%, an increase of 2%. Among them, sales in March were about 11000 tons, with a global market share of 12.5% and a domestic market share of more than 20%, all of which were all record highs. According to the actual customer demand and industry growth expectations, the company expects sales in the second quarter to grow significantly compared with the same period last year, and the market share is expected to further increase.
2. Targeting international top customers, sales in Japan, South Korea, Europe and the United States continue to grow.
Thanks to the company's forward-looking globalization strategy, global capacity layout and global team building, the company has formed a profound accumulation in the development of the international market. During the reporting period, the company not only signed cooperation agreements with LGES, SK On and other international head battery enterprises, but also achieved a breakthrough in overseas sales scale. In the first quarter of 2024, the company delivered nearly 5000 tons of products to international customers, accounting for about 20 per cent of shipments. It is expected that the shipping scale will further increase in the second quarter to meet the rapidly increasing production capacity needs of international customers. In the same period, the precursor production line supporting the construction and transformation of international customers has also passed the customer certification audit. In the future, with the improvement of overseas production capacity, the proportion of international customer shipments is expected to further increase, and the company's customer structure will continue to be optimized.
3. The technical advantages of high nickel products are outstanding, and the process of the new generation of products is stereotyped.
During the reporting period, the company's technical advantages in the field of high nickel and ultra-high nickel were further consolidated. According to Xingong Lithium data, in the first quarter of 2024, the company's domestic market share of high-nickel ternary cathode materials is 40%, and its leading position is stable. Ultra-high nickel 9-series products have achieved large-scale mass production and stable supply, with cumulative sales of nearly 6500 tons during the reporting period. The energy density of some of the corresponding battery products exceeds 350Wh/kg, and the vehicle mileage can reach 800-1100km.
Based on this, the company has further developed a new generation of ultra-high nickel materials. Under the condition of stable cycle and gas production performance, the energy density of the new generation of ultra-high nickel materials has significantly increased and will soon be put into mass production.
In addition, as the development direction of the new generation of high-voltage materials, the company's high-nickel high-voltage products also achieve process stereotyping, the unit wattage cost is similar to that of medium-nickel high-voltage products, and the cycle and rate performance is better.
The development of two new high-nickel products has further strengthened the company's technical barrier advantage in the high-nickel field.
4. Positive progress has been made in the technical research and development and market development of new products such as ferromanganese lithium, sodium electricity and cathode materials for solid-state batteries.
In terms of mn-Fe-Li, product sales in the first quarter increased significantly compared with the same period last year and month-on-month, the mixed system has completed the filing of the Ministry of Industry and Information Technology of two domestic models, and the pure system has also won the fixed-point certification of overseas battery customers.
In terms of sodium electricity, while consolidating the first-mover advantage of layered materials, the company has also developed polyanion materials for the energy storage market, whose performance has been widely recognized by customers, and its capacity has reached the first-class level of the industry. At present, it has obtained the expansion demand of well-known customers.
In terms of solid-state battery cathode materials, the company has been selling in bulk since 2023, and has participated in a number of national solid-state battery research and development projects. Nearly 100 tons of 9 series solid-state products were shipped in the first quarter. Ningde era (300750) (300750), Weilan New Energy and other domestic and foreign more than 40 battery and vehicle enterprises have established cooperative relations.
In the same period, in order to cooperate with the development of the new generation solid-state battery material system, the company has significantly improved the interface compatibility between cathode materials and electrolyte materials through the construction technology of fast ionic conductors on the surface of cathode materials. it breaks through a series of problems in all-solid-state battery, such as high interface impedance, strong interface side reaction, using only single crystal cathode material and so on. At the same time, the company has successfully developed a variety of solid electrolyte materials and wet and dry electrode preparation of solid electrolyte membrane technology. Solid electrolyte and solid electrolyte membrane have cooperated with customers at home and abroad, and have been well received by customers.
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