The rapid development of the new energy industry has driven the continuous growth of the market demand for magnetic components. As a key electronic component for energy conversion and transmission, magnetic components can realize the mutual conversion of electrical energy and magnetic energy, and are essential power electronic devices for energy storage, energy conversion and electrical isolation.
The rapid development of photovoltaic, energy storage, new energy vehicles and other industries will greatly drive the continuous growth of the market demand for magnetic components. According to the China Photovoltaic Industry Association, the new installed capacity of PV globally in 2022 will be 230GW, a year-on-year increase of 353%, with a cumulative installed capacity of about 1,156GW, and it is expected that the new global PV installed capacity will reach 324GW and 436GW in the year.
According to the National Energy Administration, 87 new domestic PV capacity was added in 202241GW, up 60% year-on-year3%, with a cumulative installed capacity of 39261GW, up 28% year-on-year1%。According to the International Renewable Energy Agency (IRENA), the cumulative installed capacity of electric energy storage projects in operation worldwide reached 237 in 20222GW, up 15% year-on-year;China is the world's largest energy storage market, with a cumulative installed capacity of 598GW, up 38% year-on-year.
According to data from the Zhongguancun Energy Storage Industry Technology Alliance (CNESA), the cumulative installed capacity of new energy storage in the world will reach 45 in 20227GW, an increase of 80% year-on-year, of which the cumulative installed capacity of lithium-ion batteries was 369GW, up 85% year-on-year;The cumulative installed capacity of new energy storage in China has reached 131GW, a year-on-year increase of 141%, of which the cumulative installed capacity of lithium-ion batteries was 128GW, up 142% year-on-year.
According to ifind statistics, global NEV sales in 2022 increased by 56% compared to the previous year4% to 1,00730,000 units;According to the data of the China Association of Automobile Manufacturers, in 2022, the production and sales of new energy vehicles in China will be 70580,000 and 68870,000 units, ranking first in the world for 8 consecutive years, with a market penetration rate of 256%。
At the same time, the use of small size, high power, high efficiency electronic components can improve the power loss of the whole machine, so as to achieve the goal of energy conservation and environmental protection. In the future, magnetic components will develop in the direction of high efficiency, reliability and miniaturization, and promote the continuous upgrading of the magnetic components market.
1. Project overview
Project Name: R&D and Industrialization Project of Magnetic Components.
Construction subject: Nanjing Litong Zhiqiao Technology***
Construction site: Nanjing Economic and Technological Development Zone (south of Hengguang Road, north of Hengjing Road, east of Jingyi Road, west of Xingjian Road).
Construction scale: 3.3 million new energy vehicle magnetic components, 1.1 million photovoltaic magnetic components, construction period of 3 years.
2. Overview of project investment
The total investment of the project is 17,638600,000 yuan.
3. The main body of project implementation, construction site and construction cycle
This project is implemented by Nanjing Li Tong Zhiqiao Technology, a wholly-owned subsidiary of Li Tong Electronics. The construction site of the project is Nanjing Economic and Technological Development Zone (south of Hengguang Road, north of Hengjing Road, east of Jingyi Road, and west of Xingjian Road). The construction period of the project is 3 years.
4. The necessity of project implementation
(1) Strengthen the layout of the company's new energy supporting products and conform to the development trend of the industry
In the context of "carbon neutrality" and "carbon peak", the demand for new energy conservation and environmental protection in modern society is increasing, and the demand for photovoltaic power generation, energy storage, and new energy vehicles is rising. As a key electronic component for energy conversion and transmission, high efficiency, reliability and miniaturization will be the main direction in the future, which puts forward higher requirements for the design and manufacturing level of magnetic components.
Through the construction of this project, on the one hand, the company will build a new intelligent production line of new energy magnetic components based on the existing process technology, so as to achieve an annual output of 4.4 million magnetic components to meet the growing downstream demandOn the other hand, on the basis of the existing magnetic components, the company intends to integrate and develop product design and production processes, further improve the reliability and stability of products, improve product integration, reduce space occupation, reduce manufacturing costs, improve power density, etc., realize product upgrading and iteration, and adapt to the current market demand for rapid innovation, low cost and high performance of magnetic component products.
In summary, the construction of this project conforms to the development trend of industry scale and technology, and can effectively strengthen the company's layout in the field of new energy supporting products.
(2) Improve R&D and automated assembly capabilities to meet the needs of downstream customers
In recent years, as the concept of low-carbon economy has become more and more popular, the new energy industry has developed rapidly, and the market demand in downstream fields such as new energy vehicles, photovoltaic power generation, and energy storage has grown rapidly. Magnetic components are the key components of electric energy conversion in new energy vehicles, photovoltaic power generation, energy storage and other equipment, and downstream customers have increased their attention to the power density, reliability, safety, anti-interference ability, service life, consistency and other performance of magnetic components.
The company urgently needs to respond to market demand through technological innovation and new product development. At the same time, before the development of some products, the company needs to combine the actual application needs of users to carry out repeated trial production and assembly of product specifications, process routes and other dimensions to meet the requirements, and the company's existing assembly capacity is used to meet the existing product line, which cannot fully meet the order needs of new products. In this context, the company urgently needs to further improve its R&D and assembly capabilities.
Through the implementation of this project, the company will purchase a number of advanced automatic assembly, R&D and testing equipment according to the assembly technology of existing magnetic components and its future development trend, so that its products can meet the strict customization needs of customers, and promote the company to carry out scientific research and innovation from product design, assembly technology and other aspects. On the other hand, the company has improved the company's R&D efficiency by building a larger R&D and assembly area, and carried out research on topics to meet customer needs.
(3) Accelerate the industrialization process of enterprise technological achievements and achieve sustainable development
Compared with the low-power magnetic components in the traditional application field, the current application environment of magnetic components used in the new energy field is more complex, the technical requirements are high, and the product update and iteration are fast. When selecting magnetic component manufacturers, OEMs will focus on the advanced nature and rapid iteration ability of their products, and continue to innovate magnetic component products according to increasingly diverse and complex application conditions.
In order to cope with the increasing number of magnetic component products in the market, the continuous elimination of low-end products, and the continuous introduction of mid-to-high-end products, this project will develop advanced manufacturing technology, lightweight technology and integration technology, etc., continuously upgrade and iterate related products, accelerate the technology research and development and achievement transformation with independent intellectual property rights, and form products that meet market demand, so as to continue to promote design and research and development, and maintain competitive advantage. Through the implementation of this project, the company will actively deploy forward-looking technologies in complex application scenarios, improve independent innovation capabilities and rapid response capabilities, and achieve sustainable development.
5. Feasibility of project implementation
(1) The project construction is consistent with the direction of national policy encouragement
The main products produced by this project are magnetic components, and the downstream application fields cover new energy industries such as photovoltaic power generation, energy storage, and new energy vehicles, which are supported by a number of national policies. In the "Industrial Structure Adjustment Guidance Catalogue (2019 Edition)", "the manufacturing of new electronic components (chip components, frequency components, hybrid integrated circuits, power electronic devices, optoelectronic devices, sensitive components and sensors, new electromechanical components, high-density printed circuit boards and flexible circuit boards, etc.) is included in the category of "encouragement";The "Notice on Printing and Distributing the Action Plan for Industrial Energy Efficiency Improvement" clearly states that "promote the innovation and upgrading of smart photovoltaics and the application of industry characteristics, innovate the 'photovoltaic +' model, and promote the diversified layout of photovoltaic power generation";The "Guiding Opinions on Accelerating the Development of New Energy Storage" requires that "by 2025, the transformation of new energy storage from the initial stage of commercialization to large-scale development will be realized".
The New Energy Vehicle Industry Development Plan (2021-2035) points out that "strengthen the innovation of vehicle integration technology, improve the safety technology level of battery management, charging connection, structural design, etc., and improve the comprehensive performance of new energy vehicles." Strengthen the research and development of new charging technologies such as intelligent and orderly charging, high-power charging, and wireless charging, and improve charging convenience and product reliability." In summary, the construction content of this project is consistent with the direction of national industrial policy encouragement.
(2) The company has rich experience in product development and assembly
The core technical capabilities of magnetic component product manufacturing lie in product R&D and design capabilities, processing and assembly capabilities, and the design and realization capabilities of automated production equipment. The company has made a lot of investment in technological innovation, and in terms of product development and design, it has jointly formulated product solutions and specific technical parameters by carrying out in-depth synchronous development and design with downstream customers, and has worked closely together in the fields of product design and technical index testing, so as to establish.
Rapid response advantage;In terms of the design and implementation of automated production lines, we provide high-quality automation solutions and non-standard equipment through the comprehensive use of robot technology, automation control technology and visual inspection technologyThe company has achieved high-efficiency, high-quality, low-cost, and fully automated assembly operations, continuously strengthened the construction of R&D system, and formed a R&D system integrating product R&D, manufacturing engineering technology R&D and product quality assurance technology, which has improved R&D efficiency.
In summary, the rich technology accumulation and excellent development and assembly capabilities ensure that the company can continue to achieve product innovation, ensure the smooth progress of industrialization, meet the diverse needs of customers, and provide strong support for project construction.
(3) The customer's recognition provides a guarantee for the capacity digestion of the project
Having a high degree of customer recognition and stable customer resources is a necessary condition for the company to achieve sustainable development, which is conducive to the company to maintain a stable ** chain to ensure the timely collection of sales and the stability of performance growth.
Due to the particularity of the downstream industry, downstream customers usually implement a strict certification mechanism for magnetic component suppliers, and customers need to conduct a comprehensive assessment of the asset scale, management level, production capacity, product performance, quality control capabilities and service guarantee capabilities of the company, and can only enter its business system after passing the comprehensive review of customers.
Taking the new energy vehicle industry as an example, in order to reach the vehicle specification level, new energy on-board magnetic components need to meet the AEC-Q200 standard and IATF16949 and other system certifications, that is, they need to meet the index parameters of magnetic components in automotive applications, mainly in terms of high efficiency, small size, wide temperature, low noise, light weight, high temperature and high humidity, corrosion resistance and risk resistance.
After research and trial production, the company's magnetic component samples have been initially recognized by customers, and can carry out synchronous product development, design, production and manufacturing according to customer needs, meet customers' pursuit of high-quality products, and have a strong demonstration effect for other manufacturers, providing reliable support for the sales of products and the expansion of new customers for this project.
6. The economic benefits of the project
The financial internal rate of return of the project after income tax is 1413% and the post-income tax investment** period is 829 years (including 3 years of construction period), the annual operating income after reaching production is about 30,152640,000 yuan (excluding tax), with good economic benefits.
7. The status of the project for approval
The project approval and other related filing and approval matters required for the project are in the process of being processed, and it is expected that there will be no legal obstacles.