In the past few months, when the prices of raw materials such as cobalt and nickel were rushing all the way through the market. The quotation from the “Commercial Club†shows that the cobalt price quoted by the Yangtze River Cobalt Market on March 7 was 625,000 yuan/ton, only after a week, that is, on March 14, it had risen to 640,000 yuan/ton; and four months ago, On December 14, 2017, the offer was 562,500 yuan/ton. A year ago, a ton of metal cobalt was quoted at less than 300,000 yuan/ton. Since entering the rising range in 2017, the domestic cobalt price has risen to a large extent.
At present, the mainstream of global new energy vehicle batteries is a lithium triad battery, and cobalt is one of its core materials, which can significantly increase the energy density of lithium batteries. With higher sales of electric vehicles and strong market demand, cobalt has become an important scarce resource. With the development of electric vehicles in China, the gap in this market is growing. Minsheng Securities said in its research report that the current supply and demand gap in the cobalt industry is estimated to be more than 10,000 tons, and is expected to expand to more than 20,000 tons in 2019. The contradiction between supply and demand will further intensify.
Obviously, one side is Luoyang Paper expensive, and one side is exotic goods. Both of these forces pushed the price of cobalt high.
This directly brought fire to related companies. The capital market has also begun a spree, and the secondary market for the leading shares of the cobalt industry has continued to strengthen in the past year. For example, the performance of Zhejiang Huayou Cobalt Co., Ltd. (hereinafter referred to as “Huayue Cobaltâ€, 603799.SH) and Nanjing Hanrui Cobalt Co., Ltd. (300618.SZ) soared, and the stock price also soared. However, when the upstream cobalt energy companies made great strides, profitability of downstream battery companies began to shrink dramatically. From the 2017 annual report of listed companies, Sichuan Chengfei Integrated Technology Co., Ltd. (hereinafter referred to as “Chengfei Integrationâ€) 002190.SZ), Hefei Guoxuan High-tech Power Energy Co., Ltd. (hereinafter referred to as “Guangxuan Hi-techâ€, 002074.SZ), Guangdong Lunshi New Energy Technology Co., Ltd. (hereinafter referred to as “Mengshi Technologyâ€, 002684.SZ) Net profit is negative growth.
"Battery companies are a sandwich layer. On the one hand, raw materials are on the rise. On the other hand, car companies have to reduce costs significantly, and ultimately fall on battery companies." Prior to this, an executive from Shenzhen Waterma Battery Co., Ltd. observed the economy. Reporter said. The problem facing the battery companies is exactly the same. With the adjustment of the subsidy policy for new energy vehicles, the price of domestic power batteries will generally decline in 2017; at the same time, the price of raw materials in the upstream industry will rise at a rapid rate. Its overall profitability is constantly being compressed. In addition, the competition among power battery companies is also intensifying.
"Battery makers' profits are being reduced and compressed." Qing Zhongjia, secretary-general of the Zhongguancun New Battery Technology Innovation Alliance and chairman of the Battery Hundred Persons Association, said that due to the scarcity of cobalt, the conflict between supply and demand has intensified and the price of cobalt has soared. Strong. "This trend will not change much in the short term."
Cobalt prices soaring
China is the world’s largest producer and exporter of electric vehicles, but it is lacking in the raw materials of some batteries. Cobalt is one of them. China’s cobalt resources account for only 8% of the world’s share, while Congo has the world’s largest cobalt resource, accounting for 58% of the world’s cobalt production, and is also the largest supplier of cobalt. At present, China also imports raw materials from the Congo, but the cost will increase. A few months ago, the Congolese president proposed that it would approve the provisions for the significant increase of taxes on metals such as cobalt, copper and gold and royalty fees. This will obviously have a major impact on the metal supply in the future. It has become necessary to push up production costs.
In addition, cobalt ore is mainly derived from copper-nickel associated minerals, while the copper-nickel industry is in the stage of sustained decline in supply growth, and cobalt supply is therefore limited by the progress of copper-nickel industry expansion. In addition, car manufacturers including Volkswagen and Tesla are currently making every effort to promote the electric vehicle program, leading to a continuous increase in the demand for battery materials. In the Chinese market, electric vehicles are also experiencing rapid growth. In 2017, the output of new energy vehicles exceeded 800,000 vehicles, more than 300,000 vehicles in 2016, an increase of 60% year-on-year. This year is expected to exceed one million vehicles.
In this complicated background, the cobalt and nickel prices are becoming crazy, which also doubles the related corporate identity. At present, in the world, the four major foreign producers of Glencore, Freeport, Norilsk Nickel, and Lupinsh Group (GTL) account for 47.8% of the total cobalt production. In China, Huayou Cobalt and Jinchuan The Group and GEM three occupy half of the market. Some analysts pointed out that at this stage, cobalt ore resources are still controlled by oligarchs and are the seller's market. Both the shipment and the pricing power are at the mine, which also makes the related companies earn a lot of money.
Taking the world’s largest waste battery and cobalt nickel-tungsten rare metal recycling and utilization enterprise—Grimer Co., Ltd. (hereinafter referred to as “Greentechâ€, 002340.SZ) as an example, the company’s annual report shows that in 2017, the company realized revenue of RMB 10.523 billion. The year-on-year increase was 3.429 billion yuan, and the net profit attributable to the shareholders of the listed company was 603 million yuan, an increase of 128.56% year-on-year. The increase in net profit was mainly due to the increase in the prices of main products of the company in 2017. At the same time, the production capacity of the battery material sector was released and profitability was further enhanced. However, several families are happy, and the rising cost has made it even more difficult for lithium battery companies that are already "stressed."
Guo Xuan Hi-Tech's performance report showed that the company is expected to achieve a net profit of 920 million yuan in 2017, a year-on-year decrease of 10.73%. Lunshi Technology's 2017 performance report showed that its net profit attributable to shareholders of listed companies was 51,759,800 yuan, a year-on-year decrease of 44.92%; basic earnings per share was 0.09 yuan, a year-on-year decrease of 50.00%. Cheng Fei integrated 2017 performance report showed that the company's total profit -27011.57 million, a decrease of 228.63% over the same period last year; to achieve the net profit attributable to shareholders of listed companies -77.3428 million yuan, down 156.16% over the same period last year.
The gross profit margin of the power battery business of Shaanxi Jianerwo Energy Co., Ltd. (hereinafter referred to as “Jianruiwoengâ€, 300116.SZ) in the first half of 2017 was 31.91%, which was 7.2% lower than the 39.11% in 2016. For the reasons for the decline, these battery companies all said that because of the general decline in domestic power battery prices in 2017, while the upstream raw material prices, thus affecting the overall level of profitability.
The power battery is the core component of the new energy vehicle, and the cost accounts for 40% of the entire vehicle. In the lithium battery material cost structure, the cathode material accounts for 30%. In addition to cobalt, since the second half of 2016, due to the rapid increase in the demand for lithium batteries, the price of lithium-based copper foils has also increased significantly, resulting in a rapid increase in the cost of materials for power batteries. In addition to the price increase of upstream products, after the adjustment of the subsidy policy for new energy vehicles, the automaker has transferred the gap in subsidies to the battery companies. In 2017, the price of domestic power batteries generally declined. The Ministry of Industry and Information Technology said that compared to 2012, the power battery cell energy density increased by 2 times, and the price per kWh of power battery dropped by more than 70%.
In addition, the competition among power battery companies is also intensifying. Industry forecasts, 2017-2018, the power battery industry will be the peak period of production capacity, the original large-scale enterprises will continue to significantly expand production capacity. According to Qingchao’s prediction, the differentiation of the power battery industry chain with “back-to-back enemy†will intensify. The industry may usher in a new round of reshuffle, and the industry structure will also accelerate. The industry expects that within one to two years, the industry will decide Top5 or Top10 and the competitive landscape will stabilize.
Potential risks behind skyrocketing
The rising price of upstream materials and the grab of profits by downstream host companies have caused power battery companies to “fight their opponents†and find their way out. First, we will reduce costs by increasing the scale, increasing the yield, and reducing the cost of internal management. In addition, Qingchao suggested that it will enter the peak stage of lithium battery recycling in the future. If a power battery company can extract resources such as cobalt and lithium from waste batteries with higher efficiency and lower costs, the company will be able to effectively control costs. At present, Guoxuan Hi-Tech has established related companies for battery recycling and is currently constructing a recycling production line.
The vehicle company is also preaching metal materials in advance. Sources said that Volkswagen issued a tender last month to seek a guaranteed supply of cobalt for at least five years at a fixed price in order to prepare for the mass production of electric vehicles, but basically no suppliers responded. However, Volkswagen has begun to strengthen its partnership with Panasonic to accelerate the commercialization of solid-state batteries.
Toyota currently holds the largest nickel smelter in Japan, Sumitomo Metal Mining, which supplies cathode materials for Matsushita lithium-ion batteries used in Tesla electric vehicles. In addition, BMW said that it is about to sign a long-term supply agreement on lithium metal and cobalt for batteries, and Tesla is also negotiating with Chilean SQM, which is one of the world's largest lithium producers. However, changes in the supply and demand of the market remain variable. First of all, will the sales of new energy vehicles still sing along the way? At least for the moment, this will be overwhelming.
Second, supplies from Glencore may increase. The consulting company CRU estimates that if these productions all enter the market, the cobalt market will oversupply in 2019. Once again, Huayou Cobalt Industry replied to the Shanghai Stock Exchange on the evening of March 14, saying that if cobalt, lithium, and other metal prices continue to rise, or remain at a relatively high price, it may lead to downstream manufacturers to choose or develop a lower-cost potential technical route. As technology advances, battery energy densities and price/performance ratios for other technology lines such as fuel cells and sulfur-lithium air batteries surpass ternary lithium batteries, there is a risk that ternary lithium batteries may be replaced.
Waterproof Vertical Mount D-Sub Connectors
waterproof D-sub system is IP67 rated. These panel-mount connectors are available in solder cup as well as right angle and vertical PCB mount types. The cable-mount connector kit includes the connector, which has solder cup contacts. These connectors are available in 9-, 15-, and 25-positions in standard density and 15-, 26-, and 44-positions in high density. The recommended wire gauge for the solder cup connector is 22 AWG to 26 AWG.
These panel-mount waterproof D-subs are designed for rear-mount applications in panels that are up to 2.0 mm thick. They come with two sets of jackscrews. One jackscrew set is 5 mm long for panel thickness up to 1.2 mm, and the other is 6 mm long for panel thicknesses from 1.2 mm to 2.0 mm.
Cable mount D-sub connector kits come with the backshell, seal, thumbscrews, and solder cup connector. They are also easy to install. Simply fit the cable through the backshell, terminate the wire to the solder cup contacts, and hand tighten the cable nut on the rear of the backshell. The backshell will seal a particular range of cable diameters depending on the position count of the connector. Consult the datasheet for specific cable diameter ranges.
Specifications
Current rating
Standard D-sub: 5 A
Hi-density D-sub: 2 A
Breakdown voltage: ≥ AC 500 V/1 minute
Insulation resistance: ≥ 500 MΩ @ DC 500 V
Contact resistance: ≤ 20 mΩ
Material
Contacts: copper alloy, gold-plated
Connector body: nylon 9T or PBT, UL Recognized
Shell: steel, nickel-plated
Applications
DV camcorder
DV VTR
Non-linear editing system
Broadcast monitor
Betacam deck
Panel Mount Waterproof D-Sub Connectors:
Water Proof D-Sub, Standard Density, Male, Panel Mount
Water Proof D-Sub, Standard Density, Female, Panel Mount
Water Proof D-Sub, Standard Density, Female, PCB Mount
Waterproof solder cup, stamped & formed contact D-sub waterproof
solder cup,machined contacts D-sub waterproof
Vertical Mount Waterproof D-Sub Connectors:
Combo Power + Signal D-Sub Connector, Vertical Mount, Pluge Type,
right angle D-sub waterproof
IP67 rated Combo power D-sub waterproof
Standard Density, Waterproof Vertical Mount D-Sub Connectors, High Density Waterproof Vertical Mount D-Sub Connectors,IP67 D-Sub Connectors Vertical Mount,Board Mount Waterproof Vertical Mount D-Sub Connectors
ShenZhen Antenk Electronics Co,Ltd , https://www.antenkconn.com