Who is the “big brother” of this year’s lithium plate growth? It’s not Ningde era (300750), or those who have “mines”, or the mid stream diaphragm or electrolyte leader. It’s Shida Shenghua, the electrolyte solvent leader. As of press release, Shi dashenghua Daily reported 175.32 yuan, down 0.49%, with a year-on-year increase of 252.9%, outperforming all its sectors and becoming the favorite of the new energy lithium industry chain
Shi dashenghua’s main business is dimethyl carbonate series (DMC) and methyl tert butyl ether, in which DMC is an important part of electrolyte solvent, and Shi dashenghua’s market share in this field has reached more than 40%, becoming a real leader.
The electrolyte can be called the blood of the battery, which determines the performance of the battery and provides stability for the battery. The proportion of solvent in the electrolyte reaches 80-85%. In the past year, the price of electrolyte has increased from the low point of 40000 yuan / ton to the current 86000 yuan / ton, and the price of electrolyte solvent has also gone up all the way.
According to the forecast of Guosen Securities, the global demand for battery grade solvents in 2025 will be about 1.871 million tons, of which the domestic demand for battery grade solvents will be about 805000 tons. The compound growth rate in the next five years will be 34.6%, about four times of the current demand.
On the other hand, in terms of competition barriers, the process of battery grade solvent is very difficult, the selection of catalyst is very demanding, and the purification is very difficult. Benefiting from the global electrification of Dongfeng, the profit of Shida Shenghua in the first quarter of this year reached 232 million yuan, a year-on-year increase of 1400%, and the revenue was 1.685 billion yuan, a year-on-year increase of 93.5%.
And the company has good cooperation with domestic manufacturers, including Tianci materials (002709), xinzhoubang (300037), etc. And successfully entered the Tesla industry chain to provide basic energy materials.