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On September 7, Pawa shares (688184.SH) opened for subscription, the issue price was 51.88 yuan per share, the subscription limit was 8,000 shares, and the price-earnings ratio was 93.68 times. It belongs to the Shanghai Stock Exchange Science and Technology Innovation Board.Haitong Securitiesas its sole sponsor.
The company is engaged in the research and development, production and sales of ternary cathode material precursors for lithium ion batteries, focusing on the market segment of single crystal medium and high nickel NCM ternary precursors, and is an advanced domestic single crystal NCM ternary precursor manufacturer. . The company’s main products are used in the manufacture of ternary cathode materials and ultimately used in new energy vehicle power batteries, consumer electronics, power tools and other fields.
In the global market, according to GGII data, global power battery shipments will reach 186GWh in 2020, and power batteries are the most important application terminal for lithium-ion batteries, accounting for 61% of total lithium-ion battery shipments. In terms of the domestic market, GGII predicts that my country’s power battery shipments will reach 545.00GWh in 2025, accounting for 78.08% of the total lithium-ion battery shipments, and the new energy vehicle market has broad prospects. GGII predicts that with the continuous improvement of the cruising range of new energy vehicles, the sales volume of new energy vehicles is expected to continue to rise, driving the continuous expansion of the power battery market. Market demand is expected to be further enhanced in diversified markets.
The cathode material is the core material that constitutes the lithium-ion power battery, and its characteristics directly affect the key indicators such as energy density, cycle life, and safety performance of the lithium-ion power battery. NCM ternary cathode material (LiNixCoyMnzO2) is one of the mainstream cathode materials for power batteries at home and abroad because of its high energy density, good cycle stability, safety and high cost performance.
In addition, the company has domestic single crystal medium and high nickel ternary precursor synthesis technology, including the controllable primary particle arrangement technology, narrow distribution single crystal ternary precursor synthesis technology and other core technologies. At the same time, in the field of ternary precursor preparation technology, the multi-element multi-process co-precipitation technology and precursor wet doping technology mastered by the company can effectively reduce the manufacturing cost of downstream single crystal ternary cathode materials on the premise of ensuring product quality. As of the signing date of the prospectus (registration draft) on June 14, 2022, the company has 36 invention patents.
The raised funds are mainly used to invest in the following projects:
In terms of finance, in 2019, 2020 and 2021, the operating income of Pawa shares was about 537 million yuan, 579 million yuan, and 858 million yuan respectively, and the company’s net profit was 20.268 million yuan, 40.9838 million yuan, and 83.4153 million yuan respectively. RMB.
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