Tuesday 20 October 2009

Zhongyuan Securities: Wei-Li 100 million to high-energy lithium battery industry, Star of Hope (study report)

Zhongyuan Securities: Wei-Li 100 million to high-energy lithium battery industry, Star of Hope (study report)

Company is China's largest and world's fifth PCGA-BP2NY sub-lithium battery supplier, in 2008 the domestic market share had risen to 39%. Li-ion battery in the smart sub-meters, automotive electronics, radio frequency identification and other areas of application prospects for the better. To consider the company a good development prospects and market position, we believe that a company's reasonable value of 18.6-21.7 billion


Event:


魛伜 100 million lithium-latitude distribution in GEM. Wei Li to 100 million by 18 yuan / share price of 2,200 million A shares will be issued October 13 purchase, after the companyPCGA-BP2NX 's total issued share capital of 8800 million. Fund-raising 396 million to invest (1) green high performance lithium / thionyl chloride battery project; (2) green high performance lithium / manganese dioxide battery project; (3) Li-ion battery Engineering R & D Center Project. Completion of the project will add 18 million lithium batteries Asia, lithium-manganese battery capacity of 22 million.


Comments:


魛伜 the nation's largest high-energy lithium battery company. Founded in December 2001, it has become China's largest and the world's fifth high-energy lithium battery supplier. The main products are high-energy lithium battery including lithium batteries and lithium-manganese PCGA-BP1N battery Asia, the second combination of batteries including lithium-ion batteries, lithium polymer batteries and nickel-metal hydride batteries batteries combination. Li-ion batteries in 2008 Asia's domestic market share of 39%, international market share of about 5%. Composition in terms of revenue, the company lithium batteries in 2009 Asia accounted for 61.94 percent of income in the first half, gross margin reached 89.00% accounting for the past few years, sub-cell lithium-Maori accounted for more than 80% have been is the company's Sony laptop battery main source of profits.

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