Rongbai Technology (688005) announced on the evening of September 6 that it plans to build a new production capacity of lithium ferromanganese phosphate and sodium cathode materials, with a total investment of 3 billion yuan. It is worth noting that Rongbai Technology just held a press conference last week to announce the launch of the global development strategy of lithium manganese iron phosphate.

to increase the production capacity of lithium and sodium manganese iron phosphate cathode materials in 3 billion yuan

according to the latest announcement, rong bai science and technology will invest in xiantao positive electrode base. the company plans to build a new production capacity of 100000 tons of lithium ferromanganese phosphate and 50000 tons of sodium positive electrode materials in xiantao high-tech development zone. the total investment of the project is about 3 billion yuan, which is expected to be completed and put into operation in 2026. It is understood that this round of capacity expansion is a further refinement of the 400000-ton positive capacity plan previously planned by Rongbai Technology in Xiantao City.

rong bai science and technology said that the production capacity construction in xiantao city, Hubei province is conducive to the formation of business coordination and regional linkage of the company's high nickel, lithium manganese iron phosphate and sodium cathode materials, speeding up the introduction and application to downstream customers and markets, which is of great strategic significance to the medium-and long-term development of rong bai science and technology and will have a positive impact on the company's performance in the long term.

At present, the parties to the transaction have signed the Framework Cooperation Agreement. Rongbai Technology reminds that the landing conditions of the new production capacity are ultimately subject to the "Investment Agreement" separately negotiated by both parties. At the same time, the project involves project establishment, environmental protection, planning, construction and other related matters, which still need to be approved by the relevant competent authorities.

Rongbai Technology is one of the mainstream positive material enterprises in China, and the company's traditional advantage products are ternary positive materials. According to Xin information statistics, in 2022, the company's high nickel ternary positive material domestic market share of 33%, the first in the industry for three consecutive years, for two consecutive years to maintain the global market share of the first.

The lithium manganese iron phosphate and sodium cathode materials added by Rongbai Technology this time belong to the new technical route in lithium batteries and are gradually entering the first year of industrialization. Compared with the two types of lithium battery routes, lithium manganese iron phosphate has superior performance and high cost performance of sodium power. With the maturity of industrialization, they are regarded as having excellent market prospects. According to market research data, it is estimated that the market penetration rate of lithium manganese iron phosphate will reach 5%-10% in 2025, and the market penetration rate of new energy vehicles is expected to reach more than 30% in 2030.

In August this year, the Ministry of Industry and Information Technology issued the 374 batch of "Announcement on Road Motor Vehicle Manufacturers and Products". Four models were equipped with ternary lithium-ion manganese iron phosphate lithium batteries, which were regarded as lithium manganese iron phosphate. A sign of the acceleration of the industrial application process. In terms of sodium ion batteries, Ningde Times, a leading lithium battery company, released relevant new products in April this year and will launch Chery models, which is also regarded as a milestone in the landing of technology.

Launch the global development strategy of lithium manganese iron phosphate

Last year, Rongbai Technology began to lay out the cathode materials of lithium and sodium manganese iron phosphate.

In terms of lithium manganese iron phosphate, Rongbai Technology has officially realized its industrial layout through the acquisition of skoland and its subsidiaries, and currently has a production capacity of 6200 tons/year. The latest semi-annual report shows that Rongbai Technology shipped nearly 1,000 tons of lithium manganese iron phosphate cathode materials in the first half of the year, with a market share of over 70%. The products are used in small power, home storage, power and other applications.

In terms of sodium cathode materials, Rongbai Technology completed product research and development last year and achieved nearly 100 tons of shipments in the first half of this year. Rongbai Technology, the first half of this year, the company successfully developed high-voltage, high-voltage solid layered oxide sodium positive products, has been in the terminal demonstration application. The company's sodium positive progress is in line with expectations, has completed some customer audits.

It is worth noting that Rongbai Technology revealed at a press conference held last week (August 24) that in 2023, the company will be based in China and face the world, and will launch the global development strategy of lithium manganese iron phosphate.

At the press conference, Rongbai Technology announced that according to customer needs, the company has simultaneously initiated the planning and construction of related production capacity at home and abroad. At present, South Korea's Chungju 20000 tons/year manganese iron phosphate lithium production capacity construction. The company plans to build a domestic production capacity of 120000 tons/year and 300000 tons/year respectively by the end of 2025 and 2030, and a overseas production capacity of 20000 tons/year and 260000 tons/year respectively.

at the application level, rongbai technology disclosed at the meeting that at present, the company has nearly 100 downstream customers of lithium ferromanganese phosphate, which has passed the examination of several power battery customers. dozens of customers at home and abroad have been developed in parallel and the boarding progress has been accelerated. At present, some battery and car customers manganese iron phosphate lithium battery process has been finalized, is gradually promoting the car test, is expected to achieve four rounds of commercial loading by the end of the year.

this year, positive electrode manufacturers in the field of lithium manganese iron phosphate active layout, in addition to Rongbai technology, Hunan Yuneng (301358), German nano (300769) and other listed companies also disclosed the relevant capacity arrangements. Hunan Yuneng announced in August this year that it plans to raise no more than 6.5 billion yuan, and part of the raised funds will be used to build a lithium manganese iron phosphate project with an annual output of 320000 tons. According to the high-tech lithium-electric incomplete combing, there are more than 10 lithium-electric giants in the lithium manganese phosphate to carry out the layout, and the formation of more than one million tons of production capacity.