Leidi.com Lei Jianping June 19
Xianghe Kunlun New Energy Materials Co., Ltd. (abbreviation: "Kunlun New Materials") recently submitted a prospectus and is preparing to be listed on the Shenzhen Stock Exchange's Growth Enterprise Market.
Kunlun New Materials plans to raise 1 billion yuan for the annual production of 240,000 tons of lithium-ion battery electrolyte project.
Annual revenue of 2.1 billion 58% comes from CATL
Founded in 2004, Kunlun New Materials is an early technological enterprise engaged in the professional development and production of power lithium-ion battery electrolyte. As a holding subsidiary, Huzhou Kunlun Enke Battery Materials Co., Ltd. is located in Chengnan Industrial Function Zone, Heping Town, Changxing County, with a total production capacity of 60,000 tons per year.
In order to meet the development of the central and western markets, the Yibin Kunlun 240,000-ton electrolyte project will officially start construction in May 2022.
The company has established long-term and stable cooperative relations with enterprises including Ningde Times, LG, SK, Yiwei Lithium Energy, Penghui, Ganfeng Lithium, Haisida, Wanxiang A123, Lishen Battery, Weihong Power, etc. A domestic company with strong growth potential for electrolyte R&D, production, sales and service.
The prospectus shows that the revenue of Kunlun New Materials in 2020, 2021, and 2022 will be 192 million yuan, 1.184 billion yuan, and 2.114 billion yuan respectively; the net profit will be -9.7486 million yuan, 48.84 million yuan, and 119 million yuan; Net profits were -9.9287 million yuan, 63.975 million yuan, and 93.16 million yuan.
During the reporting period, the sales revenue of Kunlun New Materials to Ningde Times accounted for 28.22%, 45.97% and 58.59% respectively.
In September 2020, Huzhou Kunlun signed an exclusive supply agreement with Zhangjiagang Enke, agreeing that within three years from the signing date of the agreement to the date of completion of LG or SK's first manufacturer certification for Huzhou Kunlun and the start of supply ("exclusive supply Term"), except that ENCHEM directly supplies the electrolyte produced by it, Huzhou Kunlun is the only supplier of ENCHEM selling lithium battery electrolyte (through Zhangjiagang Enke) in China.
In 2021 and 2022, Kunlun New Materials will sell 240 million and 350 million yuan to Zhangjiagang Enke, accounting for 20.27% and 16.54% of the revenue respectively. The exclusive supply period will expire in September 2023. After the agreement expires, if the two parties do not renew the contract and stop cooperation, or ENCHEM reduces its purchases from the company after building its own production capacity in China, the company's sales scale and profitability will levels will be negatively affected.
Guo Yingjun controls 39.76% of the voting rights
As of the signing date of this prospectus, Guo Yingjun, a natural person shareholder, directly holds 28.2294% of the shares of Kunlun New Materials and is the largest shareholder of Kunlun New Materials. At the same time, Guo Yingjun serves as the executive partner of the company's shareholders Tianjin Tongde, Tianjin Kunyuan, and Tianjin Kunyu, and controls 6.0611%, 4.0407%, and 1.4302% of the company's shares through Tianjin Tongde, Tianjin Kunyuan, and Tianjin Kunyu, respectively. Voting rights, Guo Yingjun controls a total of 39.7614% of the company's voting rights, and is the controlling shareholder and actual controller.
Guo Yingjun, born in August 1976, master's degree, major in applied chemistry. From June 2002 to July 2006, worked in CITIC Guoan League Guli Power Technology Co., Ltd. as a research and development engineer; from July 2006 to September 2010, worked in CITIC Guoan League Guli New Energy Technology Co., Ltd. as a Deputy Director of Materials Research Institute; from September 2010 to April 2015, worked in Kunlun Co., Ltd. as general manager and chief engineer; from April 2015 to December 2021, served as executive director/chairman and general manager of Kunlun Co., Ltd. ; Since May 2017, he has served as the chairman and general manager of Huzhou Kunlun; since December 2021, he has served as the chairman and general manager of Kunlun New Materials.
Before the IPO, Shenzhen Tongchuang held 7.2733%, Qianhai Fund held 6.3672%, Rizhao Chenrui held 4.7595%, Suzhou Zhongjin held 4.282%, Ruihua Capital and Huzhou Qixing respectively held 3.9158%, Xuzhou Boda holds 3.8538%, SAIC Yangtze River Delta and Qingdao SAIC hold 3.2115% respectively, and Hangzhou Nanhai holds 3.1836%;
Zhengzhou Tongchuang and Shanghai Zhepu hold 2.6106% of the shares respectively, CICC Zhixing holds 1.9269% of the shares, Tianjin Kunyu holds 1.4302% of the shares, Pinghu Huarui holds 1.3053% of the shares, Changzhou Ruiliang holds 1.2846% of the shares, Yibin Green Investment, Jiangan Xinneng, and Jiaxing Wow Niu hold 0.9967% of the shares respectively, Suzhou Tongchuang holds 0.8564%, Guan Bo holds 0.8081%, Yichang High-tech holds 0.6644%, and Donghu Guolong holds 0.6423% , Xu Qiang holds 0.5% of the shares.
After the IPO, Guo Yingjun held 21.1721%, Shenzhen Tongchuang held 5.455%, Qianhai Fund held 4.7754%, Tianjin Tongde held 4.5458%, Rizhao Chenrui held 3.5696%, Suzhou Central Gold holds 3.2115%, Tianjin Kunyuan holds 3.0305%, Ruihua Capital and Huzhou Qixing hold 2.9369% respectively, Xuzhou Boda holds 3.8538%, SAIC Yangtze River Delta and Qingdao SAIC hold 2.4086% respectively %, Hangzhou Nanhai holds 2.3877% of the shares;
Zhengzhou Tongchuang and Shanghai Zhepu hold 1.958% of the shares respectively, CICC Zhixing holds 1.4452% of the shares, Tianjin Kunyu holds 1.0727% of the shares, Pinghu Huarui holds 0.979% of the shares, and Changzhou Ruiliang holds 0.9635% of the shares. Yibin Green Investment, Jiangan Xinneng, and Jiaxing Wow Niu hold 0.7475% of the shares;
Suzhou Tongchuang holds 0.6423%, Guan Bo holds 0.6061%, Yichang High-tech holds 0.4983%, Donghu Guolong holds 0.4817%, and Xu Qiang holds 0.375%.
———————————————
Lei Di was founded by Lei Jianping, a media person. If you reprint, please indicate the source.
Kunlun New Materials plans to raise 1 billion yuan for the annual production of 240,000 tons of lithium-ion battery electrolyte project.