Dongmingzhu takes the lithium titanate route alone.

After receiving a 13 billion yuan acquisition invitation from Gree Electric, Yinlong New Energy became the focus of market pursuit and discussion. The reporter also went to the Yinlong New Energy Automobile Factory in Handan, Hebei Province to find out.

In the Yinlong New Energy Industrial Park, the reporter saw that the new factory was just completed, and the robot's arms waved in the factory. From time to time, there were staff members operating the machine. A person in charge of Yinlong New Energy said: "This is the world's largest lithium titanate material and battery production base, and it is a collection of fully automatic, efficient and industrialized new energy vehicle industry chain."

Dongmingzhu took the lithium titanate route alone to build a hundred billion silver dragons

After Gree announced that it would spend 10 billion yuan to acquire Yinlong New Energy, the acquisition case disclosed by Geli and the technical path and valuation of Yinlong New Energy were widely discussed by the market. In response, Weiyincang, chairman of Yinlong Group, told reporters: "The company's order volume has grown rapidly. In this year and next year, the company will usher in high sales growth. There is no undervaluation. "

Dongmingzhu, chairman of Gree Electric, revealed that his plan is to allow Gree to enter the target of 200 billion yuan companies through the acquisition.

High speed expansion within a year on the lithium titanate route alone.

In a brand-new factory building in Yinlong, reporters noticed that the sign "has been put into production for 20 days" was posted on the wall.

A worker told reporters: "The factory was only put into production for about 20 days. It was expanded on the basis of the original. At the same time, new technologies were introduced. The production of the factory building was extended upstream of the new energy vehicle and the battery material was produced at the same time. "

At the time of the large-scale development of new energy vehicles, most domestic manufacturers have chosen the technology route of lithium iron phosphate, while Samsung and other foreign brands have chosen three-yuan lithium. In the choice of different technology routes for batteries, Yinlong New Energy has not chosen the conventional route in the market. Instead, it took the road of autonomous research and development of lithium titanate.

A considerable part of the new factory building of Yinlong New Energy seen by the reporter is the production of lithium titanate batteries. At present, Yinlong plans to carry out a large-scale expansion of the production line of lithium titanate batteries. According to the plan, it wants to use the unique lithium titanate technology as the core to create a strategic layout of the closed-cycle industrial chain of new energy vehicle power assemblies and vehicle R&D, production and sales.

However, this battery technology is still under discussion in the market. The market has different opinions on its advantages and disadvantages.

Yinlong New Energy People said that although the energy density of lithium titanate is theoretically lower than that of lithium iron phosphate and lithium ternary, Yinlong has increased the energy density of lithium titanate batteries through continuous research and development in the past three years. 40 %, It still maintains 6 minutes of rapid charging and 30 years of circular service life.

With the support of relevant state policies, the broad prospects for new energy vehicles will allow Yinlong New Energy to taste the sweet and accelerate the expansion of production capacity.

The reporter learned that in the past year, Yinlong's factory building is rapidly expanding, and its production capacity will be greatly improved through these new factories. In the days when Gree's acquisition of Yinlong came out, Yinlong's expansion was faster.

According to official data, from January to August this year, Yinlong New Energy sold a total of 1,844 buses. Judging from the overall sales situation of the industry, Yinlong New Energy ranked seventh in the industry in the first eight months of the year and grew very rapidly. Mr Wei said the company's new energy commercial vehicles now have an annual capacity of 10,000, will reach 30,000 next year, will expand to 100,000 by 2020, and will also boost passenger vehicle production and manufacturing.

Regardless of the results of this Gree acquisition, Yinlong New Energy's large-scale construction investment is emerging. This time, Yinlong New Energy announced a number of major events, including the construction and production of the fourth-generation high-energy density lithium titanate nanomaterials and the fourth-generation high-energy batteries, the construction and production of fast-charging passenger cars and logistics vehicles, and the construction of the Austrian titanium. The foundation of the fourth phase and the opening of the Austrian Titanium Nanomaterials Research Institute.

"The peak for new energy vehicles is in the second half of the year, and the company has received a large number of orders, but most of them are vehicles. Battery orders are rare, and the batteries we currently produce will be supplied to our own vehicles first. In addition to meeting the needs of our own vehicles, we will consider selling the batteries. The batteries are sold in excess of the supply. Our battery capacity is still expanding. "Yinlong New Energy insiders told reporters.

He told reporters that the current Yinlong new energy vehicles are mainly supplied to cities such as Beijing, Handan and Zhuhai. This year, they will enter Shenzhen, Anhui and other places. Beijing has a sightseeing line that uses pure electric double-decker buses produced by Yinlong. “The demand in the Beijing market is constantly expanding.”

Wei yincang said that the company plans to invest about 35 billion yuan in the next five years, complete a total of about 650,000 new energy vehicles, achieve storage energy of more than 15 million MWH, power cell output of more than 4 billion angstroms, the total output of lithium titanium titanate reached 42,300 tons, charging station production of nearly 15,000 units.

Liyuheng, a researcher at the New Energy Automobile Industry Chain of China Investment Corporation, believes: "At present, many domestic new energy car manufacturers are looking for financial support, and Gree with abundant capital flow is a good partner. Gree Electric is currently the largest professional air-conditioning company in the world that integrates R&D, production, sales, and service. In order to increase revenue, Gree began to enter the new energy car market. New energy vehicles have become the development direction of the automotive market in the future. Coupled with the government's strong subsidies for new energy vehicles, Gree's willingness to choose a transition to new energy sources coincides with the expansion demand of Yinlong. "

Accelerating the upstream and downstream extension of Gree to swallow the entire industrial chain

After investigation, the reporter found that the opposite side of the reporter's factory is the assembly workshop of Yinlong New Energy Vehicle. At the same time, Yinlong has a whole vehicle production and assembly plant in Shijiazhuang. That is to say, Yinlong New Energy can completely produce and deliver vehicles from the production and processing of the entire production base in this production base. This base covers almost the entire industry of Yinlong New Energy Vehicle. chain.

After Gree acquired Yinlong New Energy, it will control the entire industrial chain of new energy vehicles.

The reporter learned that Handan New Energy Automobile Industry Park is part of the national strategic layout of Yinlong New Energy, and after the acquisition of Geli, Yinlong New Energy will continue to expand to meet the production of the entire vehicle.

Yinlong new energy related people said that in the future, Yinlong new energy plans to build Chengdu New Energy Industrial Park in the Southwest and Lanzhou New Energy Industrial Park in the Northwest. After being acquired by Gree, Yinlong New Energy will continue to make efforts in technology research and development and innovation.

In the expansion of Yinlong New Energy Industrial Park, the production of new energy vehicles upstream and downstream was promoted to the first place. For the expansion of production capacity such as battery materials and charging piles, Yinlong is accelerating.

Is it a good idea to spend 10 billion yuan on acquisitions?

After Gree announced that it would spend 10 billion yuan to acquire Yinlong New Energy, the acquisition disclosed by Geli triggered a heated debate in the market, and the technology path and valuation of Yinlong New Energy were also widely discussed by the industry.

Some industry insiders believe that the suitability of the lithium titanate battery technology selected by Yinlong New Energy is yet to be verified. At present, lithium titanate has a low energy density and instability. There are also industry insiders who have expressed doubts about the high valuation of Yinlong New Energy in the Gree acquisition.

Wei Yincang responded by saying: "There is a reason why Yinlong spent 10 billion yuan in tuition fees to choose the lithium titanate route. "He does not deny that Yinlong's lithium titanate battery has a weak energy density compared to other technologies such as lithium iron phosphate batteries, but its advantages of wide temperature, high safety, long life, and fast charging and discharge are worth paying attention to. But he said statistics showed that passenger vehicles currently travel at an average daily distance of about 50 kilometers, and about 90 % of passenger vehicles are not used for long-distance operations.

In response to questions about the market's overvaluation of acquisitions, Mr Weiyincang said the company was on track for high sales growth this year and next and was not worried because orders were already soaring.

"We hope that through acquisitions, more Chinese companies will be born with one or two hundred billion yuan. "For the acquisition target, Dongmingzhu, chairman of Gree Electric, said.

The page contains the contents of the machine translation.