The most popular new energy opportunity Kane devel

2022-07-25
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In order to enhance the company's ability to resist risks and sustain growth, Cairn is considering new performance growth points, looking for new breakthroughs outside the special paper industry, and the battery industry, which is favored by the policy, has become a new target for injection

Cairn announced on March 30 that Cairn group, the controlling shareholder of the company, convened relevant parties to discuss the company's acquisition of 60% of the controlling stake in Cairn battery in cash and the issue of raising funds from private offerings to specific investors to expand and strengthen Cairn battery. The company has participated in the planning of the above equity acquisition and private offering. On May 16, Cairn issued a related party transaction announcement on non-public offering of shares and equity transfer, pointing out that the board of directors and management of the company have established the battery industry as the company's new strategic development goal after repeated research and demonstration

transfer 78.8% equity of Cairn battery and raise 250million yuan to expand the battery project

Cairn shares announced that the company plans to use its own funds and bank loans of 96.4886 million yuan to transfer 60.00% equity of Zhejiang Cairn Battery Co., Ltd. (hereinafter referred to as Cairn battery) held by the major shareholder Cairn group; Transfer 16.22% equity of Cairn battery held by natural person wuxiongying; Transfer the 2.58% equity of Cairn battery held by natural person wangchongwei at the purchase prices of 73.4685 million yuan, 1986.01 million yuan and 3.1591 million yuan respectively. After the equity acquisition, Cairn battery will become the holding subsidiary of the company

according to the data, the registered capital of Cairn battery is 50million yuan, and its business scope covers the manufacturing, sales and transportation of power supply, charger, battery and battery materials. The board of directors of the company believes that the main products of Cairn batteries are nickel hydrogen batteries and lithium batteries, especially the high rate and ultra-high rate power batteries, which have obvious technical and quality advantages in the industry, are new environmentally friendly materials encouraged by the national industrial policy, and have a good business prospect

it is reported that Cairn battery operates high rate and ultra-high rate charge discharge nickel hydrogen power batteries and lithium-ion power batteries, which are mainly used in various power tools. At present, the application fields are mainly electric tools, aircraft models and household appliances. Its customers include Sweden Electrolux, one of the world's top 500 power tools, and Baide, one of the world's top four power tool manufacturers. In the first quarter of this year, Cairn battery had an operating income of 23.054 million yuan, an operating profit of 460000 yuan and a net profit of 393000 yuan. The company plans to become the largest nickel metal hydride battery production base in China, with a current capacity of 50million units, and the capacity of the new factory built will be expanded by five times

Cairn believes that after the completion of this acquisition, the company's main business income will increase significantly, improve the company's existing business structure that only relies on the production and sales of traditional special paper as its main business, and the battery business will become an important growth point of the company's future profits. After the acquisition of Cairn battery, according to the prediction made by the appraisal institution that Cairn battery was appraised with the income method, the after tax net profit of Cairn battery in 2009, 2010 and 2011 reached 17.5277 million yuan, 70.1106 million yuan and 105.579 million yuan respectively. Tanzhiyong, assistant industry analyst of Anxin securities, and Liu Jun, chief industry analyst, predicted that the EPS of the company in 2009, 2010 and 2011 were 0.17 yuan, 0.40 yuan and 0.56 yuan respectively

while acquiring the equity of major shareholders to enter the battery business, Cairn plans to develop the battery business by raising funds through private placement. In order to expand, strengthen and optimize the battery business and improve the profitability of the company, the company plans to privately issue no more than 40million shares at a price of no less than rmb8.51 per share, of which rmb180million will be used to increase the capital of Cairn battery to implement the technical transformation project with an annual output of 250million power batteries, and rmb70million will be used to increase the capital of Cairn battery to implement the new project of vehicle power batteries. The two investments amount to 250million yuan. In terms of battery variety planning, Cairn group emphasizes the coordination and benign development of technology, market and benefit. On the basis of rapidly expanding the scale of NiMH battery to meet the demand, the first floor of its new plant was designed as a lithium battery workshop at the beginning of construction

the prospect of battery industry is promising

Cairn battery's main products are high rate and ultra-high rate charge discharge nickel hydrogen power batteries and lithium-ion power batteries, which are widely used in various power tools. At present, Cairn battery has formed a scale of annual production of about 50million power batteries. The total assets are 191.8194 million yuan, the net assets are 70.0151 million yuan, the operating income is 126.3768 million yuan, the research and development of new production technology is million yuan, and the net profit is 4.6795 million yuan. NIMH power battery and lithium-ion power battery, especially lithium-ion power battery, are new high-energy batteries successfully developed in the 20th century. They will have a wide range of applications in the future. Because they have the advantages of high energy, high battery voltage, wide operating temperature range and long storage life, they are one of the industries with long-term growth. The company's entry into the field of ③ clip 1 generally adopts excellent medium carbon steel and alloy structural steel, which will provide support for the company's future performance improvement. Although the current scale of Cairn battery is small, it has great growth potential in the future. At the same time, high-capacity lithium-ion batteries have been tried in electric vehicles, and will become one of the main power sources of electric vehicles in the 21st century, and will be applied in artificial satellites, aerospace and energy storage

the 11th Five Year Plan for China's battery industry points out that the development focus of China's battery industry is to adjust the product structure to high-tech and high value-added products. Among them, the secondary battery focuses on the development of nickel metal hydride power battery and lithium-ion battery to further improve the share of China's secondary battery in the international market. In 2010, China's secondary battery market share will reach more than 50% of the world's total; Further improve the performance of Ni MH batteries and lithium batteries, and accelerate the pace of replacing Ni Cd batteries in the field of electric tools. The plan also encourages the development of research, development and industrialization of power nickel hydrogen batteries, and speeds up the application process of nickel hydrogen batteries in hybrid electric vehicles; Accelerate the application of power Ni MH batteries and lithium-ion batteries in electric bicycles and electric vehicles. According to statistics, at present, the global annual consumption of various types of batteries is about 80billion, with an annual growth rate of about 10%. The average annual use of batteries per person in the world is about 25 in developed countries and 5-10 in developing countries. In 2005, the per capita annual battery consumption in China was about 10 ~ 15 batteries, and it is growing at a high speed of about 20%

Cairn group pointed out that Cairn battery has a history of producing Ni MH battery and lithium-ion battery for more than 10 years. At present, Cairn battery has the ability to produce Ni MH battery and lithium-ion battery for portable household appliances and portable electric tools with 50million units/year. Cairn battery has cooperated with many international well-known manufacturers. In order to further meet the needs of new customers for the company's products, it is necessary to expand the production capacity on the current basis

it is noteworthy that the main products of Cairn batteries are changing from low-end products to high-end products with high capacity and high discharge rate, that is, the proportion of AAA series batteries used in toys, models, razors and other products with low battery requirements has decreased year by year, from 46% in 2006 to 15% in 2008, while the proportion of AA series products used in small household appliances such as vacuum cleaners has increased, reaching nearly 58% in 2008, The proportion of high current discharge SC series batteries used in high-power electrical appliances such as electric tools increased from less than 2% in 2006 to nearly 20% in 2008. After the completion of the technical transformation project with an annual output of 250million power batteries, The company's small Ni MH battery series products are from building materials. An expert said: "Inorganic thermal insulation materials and lithium-ion battery products can be adopted, which will reach a production capacity of 300million units/year; the annual after tax sales revenue will be increased by 748million yuan, and the total annual profit will be 117million yuan.

it is understood that after the completion of the new vehicle power battery project, the company's nickel metal hydride battery products and lithium-ion battery products for electric bicycles and motorcycles will reach a production capacity of 500000 sets/year; and the annual tax will be increased The post sales revenue is 230million yuan and the total annual profit is 39.87 million yuan

development goal: paper making and battery work together

Cairn Co., Ltd. was listed on Shenzhen Stock Exchange on July 5, 2004. Its main business is the production and sales of special paper such as electrolytic capacitor paper, vacuum bag and filter paper base paper. At present, the company has developed into the only electrolytic capacitor paper series manufacturer in China and the second in the world. It is in a relatively monopoly position in the domestic electrolytic capacitor paper industry and maintains a high gross profit margin

although the external demand has decreased due to the financial crisis, Cairn believes that while expanding the battery business, it will further consolidate the development of special paper

according to relevant data, Cairn's electrolytic capacitor paper production capacity is second only to NKK, a Japanese electrolytic capacitor paper producer, ranking second in the world. At present, the major foreign manufacturers of this industry include NKK in Japan, OPA in Germany, Dafu in Japan, etc., and the domestic manufacturers mainly include Zhejiang Kane Co., Ltd., Tancheng Xinxin paper products Co., Ltd., Zhejiang Minfeng paper, etc. The only enterprises that can systematically produce high, medium and low voltage electrolytic capacitor paper are NKK and Cairn

it is understood that at present, the global production capacity of electrolytic capacitor paper is about 15000 ~ 20000 tons. Cairn has a production capacity of 5000 tons, accounting for about 25% ~ 30% of the world, second only to Japan's NKK (accounting for about 55% ~ 60% of the world's production capacity). Cairn Co., Ltd. produces more than 10 series and more than 100 varieties of electrolytic capacitor paper, most of which are initiated in China, and it is the only manufacturer in China that can produce electrolytic capacitor paper in series. The company is the national industry standard setter of electrolytic capacitor paper. Scientific research and innovation provide a solid foundation for the company to maintain a high gross profit margin

previously, the appreciation of RMB had a certain impact on the profitability of the company's export business. However, on the one hand, Cairn group tried to offset the losses by strengthening price management, foreign exchange management and expanding direct import volume. On the other hand, it optimized and adjusted the product structure and strengthened internal management and cost control. The overall gross profit margin of the company increased compared with the same period in 2007, and the loss trend was curbed. Through the transfer of a large amount of investment income from the subsidiary hengbaode paper, the company was able to turn around its losses in the middle of 2008

most of the company's products are necessities for daily life and production. Affected by the economic cycle, the industry also began to slump. However, compared with the paper, coated paper, corrugated paper and other industries closely related to industrial manufacturing, the impact was much smaller. Therefore, the fluctuation range of the company's main revenue and profit in the future will be smaller than that of the enterprises with large capacity in the industry

in order to strengthen the understanding of Cairn battery, the author interviewed Professor panhongge of Cairn battery

[personal profile of Professor panhongge] the technical R & D team of Cairn battery is led by Professor panhongge. Professor Pan is mainly engaged in new high-capacity hydrogen storage materials for fuel cells, such as hydrogen storage electrode alloys, light metal nitrogen hydrides, light metal coordination hydrides and amino complexes, ni/MH secondary batteries Basic theoretical research on new energy materials such as new lithium ion secondary battery electrode materials and other new high-capacity secondary battery electrode materials. Since 1996, a total of 150 papers have been published in core journals at home and abroad. As the project leader, Professor panhongge has undertaken and completed a number of national scientific research projects, including the general programs of the National Natural Science Foundation of China and the National 863 program. He has obtained eight invention patents

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