aluminium expo|Won BYD order, Ningde New Energy shares, the annual income of 700 million aluminum plastic film manufacturers suspended listing

Hard Krypton was informed that recently, Shanghai Zijiang New Material Technology Co. Purple river new material is mainly engaged in 3C digital, power, energy storage and other soft pack lithium battery with aluminium-plastic film research and development, production, sales. Its main products are aluminium-plastic composite film (referred to as "aluminium-plastic film") for soft pack lithium batteries, which can be used in the fields of power (including new energy vehicles and electric bicycles), 3C digital (mainly including small digital devices such as smart phones, tablet PCs and other household consumer electronics products such as electronic cigarettes and Bluetooth devices) and energy storage. In terms of performance, in 2020-2022, Zijiang New Material's revenue will be 232 million yuan, 366 million yuan and 700 million yuan respectively; corresponding to a net profit of 39 million yuan, 61 million yuan and 115 million yuan. Zijiang New Material's performance in 2022 is brighter, revenue and net profit doubled.

According to the aluminium expo, in the past three years, the company's net accounts receivable were 109 million yuan, 193 million yuan, 446 million yuan, accounting for 47.03%, 52.78%, 63.73% of operating income. Aluminium-plastic film is lighter as a polymer material with much lower density than metal. Soft pack lithium battery as the core packaging material makes itself able to obtain higher energy density, can provide greater discharge current and higher discharge platform. Under the same specification size, the capacity of soft pack lithium battery is 40-50% higher than that of steel shell battery, and 20-30% higher than that of aluminium shell battery, which is the key material for the development of lithium battery towards light weight and small volume. According to the application, Zijiang New Material's products can be divided into aluminium-plastic film for power and energy storage lithium soft pack batteries and aluminium-plastic film for 3C digital lithium soft pack batteries. With the rapid development of new energy vehicles and energy storage field, the aluminium-plastic film for power storage soft pack lithium batteries has replaced the aluminium-plastic film for 3C digital soft pack lithium batteries and become the company's most important product at present, contributing more than 70% of the performance for Zijiang New Materials in 2022 only.

Customers, Zijiang New Material's main customers are BYD, ATL (Ningde New Energy, a subsidiary of New Energy Technology), Tianjin Lixin (the top 15 national power battery shipments), Penghui Energy (a global energy storage leader) and other lithium battery manufacturers. According to the prospectus disclosure, the company's products formally entered the BYD DM-i special power blade battery supply chain in 2021, and cooperate with Guoxuan Gaoke and other head soft pack power battery customers.