Technology builds competitiveness and cost-effectiveness seizes the market

　　"There is not much pressure on prices now, and we are anxious to secure production capacity. The purchasing staff of car companies live in the factory all day long." Dong Peru Hongli of Penghui Energy (300438) revealed in a recent interview with a reporter from China Securities Journal that the company's new energy power The market demand for batteries is very high. Currently, there is a major problem of production capacity bottlenecks, and we are stepping up efforts to expand production.

　　Penghui Energy, which started in 3C consumer electronics, has gradually moved into the new energy power battery and energy storage market after more than 20 years of development. The company's compound annual growth rate of revenue and profit in the past three years has been above 40%, and the company's goal is to achieve a revenue scale of 10 billion in the past three years.

　　In this regard, Fan Bo, vice president and investment director of Bedrock Capital, believes that replacing fuel vehicles with new energy vehicles is a major trend in the future. Although Penghui Energy did not start early in the field of power batteries, in the past three years, through excellent technology and clear market positioning, and the catching-up momentum is obvious. In the future, if the company can further expand cooperation with well-known car manufacturers and enhance brand value, the prospects are worth looking forward to.

　　Production capacity is tight, accelerating production expansion

　　In the recently released ranking of power battery installed capacity of domestic manufacturers in April, Penghui Energy ranked fifth with an installed capacity of 33.14 million units and an installed battery capacity of 80,775kwh. In recent years, the company's power battery shipments have been rising. For the whole of 2018, the company's power battery shipments ranked 11th among domestic manufacturers, an increase of 5 places compared to the 16th place in 2017. .

　　Corresponding to the increase in shipments, the company continues to win orders from car manufacturers. In 2016, the company successfully entered into car companies such as Kowloon and Zotye; in 2017, it became the second largest supplier of Dongfeng Special Automobile after CATL; in 2018, it entered into strategic cooperation with Dongfeng Motor Co., Ltd., SAIC-GM-Wuling and other car companies; in 2019, the product It has begun to support many models of Changan and Chery, and is cooperating with GAC, Yutong and other car manufacturers on product research and development.

　　"The company's orders for SAIC-GM-Wuling and Dongfeng Motor are continuing to increase. The monthly shipments of new energy vehicles for SAIC-GM-Wuling alone are around 4,000 units, which will consume 1Gwh of production capacity in one year. . At present, the company's overall production capacity is around 2Gwh, and it is expected to supply batches to Changan Automobile Factory in June. The existing production capacity cannot meet the order demand of the automobile factory, and it is working hard to expand production." Lu Hongli introduced.

　　In the first half of this year, the company expects to expand its power battery production capacity by 2Gwh. In addition, Changzhou Penghui plans to invest 1 billion yuan in the first phase and plans to build a new production capacity of 2Gwh. It is expected to complete the construction by the end of the year and put into production in early 2020. Changzhou Penghui's long-term designed production capacity is 10Gwh, and production capacity will be gradually released based on the company's order status.

　　It is worth mentioning that, benefiting from national policy requirements, light power batteries will be replaced by lithium batteries instead of traditional lead-acid batteries. In the first quarter of this year, the company also shipped large quantities of light power batteries. The company's current main customers for lightweight power batteries are Mavericks and Chaowei. In 2018, the company's lightweight power batteries achieved revenue of nearly RMB 300 million, which is expected to double this year.

　　Focus on battery cells for 20 years, leading the technology industry

　　Since the power battery department was officially established in 2015, orders were placed with vehicle manufacturers in less than a year. Behind this is the company's profound accumulation of focusing on battery cell R&D and manufacturing for more than 20 years.

　　According to the data, the founding team headed by Xia Xinde, the company’s chairman, all have technical backgrounds. They have focused on the research and development and manufacturing of battery cells for nearly 20 years. They have experienced technological changes in nickel-chromium, nickel-metal hydride and lithium batteries and were the first to obtain patents for lithium-ion soft pack batteries in China. , the earliest manufacturer to mass-produce flexible packaging lithium-ion batteries.

　　Nearly 20 years of accumulation, in-depth material system, and cost-oriented continuous research and development capabilities have enabled the company to maintain an industry-leading gross profit level in the 3C digital field for many years. The annual report shows that in 2018, the company ranked 9th in the world in 3C battery shipments and 3rd in the non-mobile phone category.

　　It is worth mentioning that the company’s independently developed lithium battery composite additives greatly increase the compaction density of the pole pieces, increasing energy density while reducing costs; the newly introduced new cylindrical production capacity has also greatly improved the throughput rate.

　　In addition, through technological innovation, the company continues to improve the energy density of lithium iron phosphate, which can reach the level of the ternary materials industry and lead the industry. At the same time, the high-temperature performance and cycle life of the lithium manganate system are significantly improved through the formula, and the cost of the cathode of various battery cells is reduced.

　　"Based on more than 20 years of R&D experience and a deep understanding of battery materials, the company starts from the design end to reduce product costs, and then reduces manufacturing costs through flexible production lines. For upstream raw material companies, the company also has strong purchasing bargaining power." Lu Hongli introduced, Even in 2017, when the price of raw materials increased most fiercely, based on years of cooperation and credit, suppliers would keep goods for the company, and the purchase price would be lower than the market price.

　　In March this year, the state issued the "Notice on Further Improving Financial Subsidy Policies for the Promotion and Application of New Energy Vehicles", further accelerating the reduction of subsidies for pure electric passenger vehicles and hybrid vehicles, and the subsidies will be completely withdrawn by the end of 2020.

　　In this regard, Lu Hongli pointed out that it is expected by the market that the national new energy vehicle subsidies will be reduced until they are completely cancelled. For the company, the pure marketization of the industry will help the company to take advantage of cost control and cost-effective products. Provide customers with more cost-effective products to meet the diversified and personalized needs of the market and activate the new energy vehicle consumer terminal market.

　　Energy storage business will usher in rapid growth

　　"Energy storage has now reached a critical point and the market is booming. The performance in the first quarter of this year was also good. The cost of lithium batteries has dropped and will gradually replace lead-acid batteries. The price/performance ratio is high and the market space is huge." Lu Hongli introduced, Peng Peng As early as 2012, Hui has deployed in household energy storage systems, large-scale off-grid energy storage systems and other fields. Its main customers of energy storage consumer batteries include Linkage Tianyi, Wolong Electric, etc.

　　Recently, at the International Energy Storage Market and Policy Session of the 9th China International Energy Storage Conference, TüV Süd issued the first PPP 59044A:2015 for the European market for Penghui Energy’s SE1000-L megawatt energy storage system. Certificate. Obtaining this certificate indicates that the company's products have met the international standard requirements for energy storage applications.

　　"The company has established stable cooperative relationships with major customers in the communications industry and completed the delivery of megawatt-level energy storage systems in the international market. In the next few years, the energy storage business is expected to maintain rapid growth in both domestic and foreign markets." Lu Hongli said.

　　It is worth noting that the company recently announced that it has jointly funded the establishment of Jiangsu Tianhui Lithium Battery Co., Ltd. with Trina Solar (Changzhou) Technology Co., Ltd. to deploy photovoltaic energy storage.

　　"Trina Solar is the industry's leading provider of integrated photovoltaic smart energy solutions. Its business layout includes three major segments: photovoltaic products, photovoltaic systems and smart energy. Its products cover more than 100 countries and regions around the world. In the future, the company's energy storage products It is expected to be used on Trina’s photovoltaic systems all over the world.” Lu Hongli said.

Read recommendations:

801752 720mAh 3.7V

How to control the self -discharge of lithium ion battery packs.energy storage system lifepo4 batter

Is lithium battery better or lead-acid battery better

41v lithium battery pack Factory

li ion 18650 battery pack wholesale