Lithium cobalt oxide gross profit increased significantly, the cathode material business into the biggest winner?

According to statistics, the recent price of lithium cobalt oxide rose 40,000 / ton, or more than 10%. (In fact, the cost of lithium cobalt oxide is mainly cobalt oxide, according to the current price since September last year, single tons of lithium cobalt oxide costs rose 22.2 million, while the single-ton price rose 230,000, tons of gross profit increased 18,000.
1, by high gross margin to stimulate the field of raw materials into a hot spot
In the high gross margin of stimulation, the lithium business will line of sight aimed at the cathode material, according to statistics, since the entry since 2017, less than 3 months time, the domestic investment in the field of raw materials more than 7.7 billion.
(1) Green: the proposed increase of 2.95 billion raised funds to build recycling core positioning
January 24, Grammy (002340) announcement, the company intends to not less than 5.90 yuan / share, including the company, one of the actual public Xu Kaihua, including not more than 10 specific objects of non-public offering of not more than 500 million shares, More than 2.951 billion yuan for green dismantling recycling vehicle with power battery pack project, recycling power ternary material precursor material project, recycling power battery with ternary material items and supplementary working capital.
(2) Green: a joint venture with the establishment of a new generation of three yuan battery materials company
Greening January 9 evening announcement, the company‘s wholly-owned subsidiary Jingmen Green and South Korea ECOPRO company to jointly funded, respectively, the establishment of Jingmen joint venture company and joint venture in Korea, and signed the "Green US and ECOPRO Sino-foreign joint venture contract" and "shareholder agreement" The
ECOPRO is currently the world‘s leading manufacturer of NCA cathode materials, Samsung SDI and other well-known international battery supply chain NCA cathode material external suppliers. The main products are NCA and nickel cobalt manganese and other power battery materials.
Under the agreement, the joint venture company will be in Jingmen construction with an annual output of 10,000 tons of power batteries with NCA ternary material active material precursors for the initial business objectives, the future according to the global market needs to expand production scale. China‘s subscribed capital of 40 million US dollars, are included in the registered capital, accounting for 92.57% of registered capital; foreign subscribed capital of 5 million US dollars.

(3) Youmei investment 3 billion yuan lithium battery cathode materials project settled in Guangdong Jiangmen
On the morning of February 28, the Belgian Umicore Group invested in the new energy vehicle battery cathode material project successfully signed landing Jiangmen, Guangdong. Youmei the project to invest 3 billion yuan, will build an annual output of 200,000 tons, the output value of over 10 billion yuan of new materials industry base, the main production NCM cathode materials and the corresponding precursor.
(4) heaven-sent materials to be built in Taizhou, Zhejiang to build a positive material project with an annual output of 25,000 tons of ternary materials
March 2 evening, the heavenly material published on the signing of "Godsend material Taizhou lithium cathode material project framework cooperation agreement," the announcement said, according to the company and the company holding subsidiary Jiangxi Eide Nano Technology Co., Ltd. (referred to as "Jiangxi Eide", the company holds Has 51% stake in Jiangxi Eide) strategic development plan, Taizhou Municipal People‘s Government and the company, Jiangxi Eide in March 2, 2017 signed a cooperation agreement. It is reported that the heavenly material Taizhou lithium cathode material project includes a new project with an annual output of 25,000 tons of lithium ternary cathode materials and relocated annual output of 25,000 tons of lithium iron phosphate production line back to Taizhou project.
(5) when the rise of science and technology to increase by 1.5 billion production of high nickel multi-material
March 1 evening, when the rise of science and technology announcement, intends to no more than five specific investors issued no more than 3660.6 million shares, raising 1.5 billion yuan, of which 1.16 billion yuan investment in Jiangsu lithium lithium cathode material production base three Project, 90 million yuan to invest in lithium material technology research center, 250 million yuan to supplement working capital.

2, the rising trend of 2017 will be related to the performance of the company
We note that in the trend of rising raw material prices, the output value is small and the concentration of high areas even more obvious. To cobalt trioxide, for example, three cobalt oxide is mainly used for the production of lithium battery material lithium cobalt oxide, and lithium cobalt oxide lithium battery is an important part of the cathode material. The first three Grammy, Huayou and Jinchuan Group, the total of three-thirds of the total, the concentration is very high, the price control is more controllable. In addition, Maoming Science and Technology 16 years of relocation work affected 17 years of production; plus Jinchuan and other environmental problems cut production, a direct result of three cobalt oxide in short supply, the duration is expected throughout the year. The following are the same as the "
Driven by the demand for downstream terminals and technical routes, raw material prices will continue to rise, 2017 will be the performance of related companies in the year.

Who will be the big winner in 2017? On the one hand, due to tight product supply and demand, gross profit rose sharply, product profitability surge, cobalt industry chain enterprises will continue to benefit, such as Green, Hurray, Dow technology. On the other hand, by the new energy vehicle subsidy policy, the three yuan battery to become the mainstream technology line, to promote the ternary material to become a hot investment, cathode materials business will undoubtedly be beneficiaries of 2017.
To Shanshan shares, for example, Shanshan shares that Shanshangufen lithium cobalt oxide production capacity is expected to reach 19,000 tons this year, the main customers such as Apple and other high-end customers (through ATL), the main products for the 4.5V high voltage products, domestic competition The pattern is very good, it is expected in 2017 its sales will have a relatively high growth (25%), superimposed price recovery, profitability will be relatively large, this year‘s positive business from the beginning of the second quarter, may continue to exceed expectations. In addition, because Shanshangufen products are mainly located in the ternary material, so a few years ago during the outbreak of the bus, the power battery material business did not enjoy the industry elasticity (20%), with the battery route full backward ternary, fir Sugi shares of the ternary card bit advantage will be reflected.