TU-TESL

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Recently, slake (300382), the manufacturer of cans, announced that the company plans to establish a joint venture with Anhui Feidong Economic Development Zone Management Committee and Hefei Lixiang (Anhui Sixiang Technology Co., Ltd.) with an annual output of 300 million aluminum cylindrical battery shells, with a total investment of 500 million yuan. According to the announcement, Anhui Sixiang has been officially established on September 30, 2019 with a registered capital of 100 million yuan, mainly engaged in the research and development, production and sales of battery cover plate and aluminum shell; the sales of battery products, metal products, electronic products, aluminum profiles, etc. In addition, slake emphasized in the announcement that with the R & D achievements and production experience accumulated in the field of packaging production equipment, and the optimistic view on the new energy vehicle related industry chain, the company is actively extending to the production equipment and manufacturing industry of other metal packaging products such as battery shell of new energy vehicle. According to the public information, slake was founded in 2004 and listed on the growth enterprise market of Shenzhen Stock Exchange in January 2014. It is mainly engaged in the research and development, design, production, assembly and commissioning of complete sets of high-speed easy-to-pull covers, easy-to-pull can production equipment, image detection and other systems, as well as the research and development, processing and manufacturing of relevant precision molds and spare parts. According to the high tech lithium battery, this is not the first time for slake to involve the battery project. In September 2018, it reached cooperation with the people's Government of Fengquan District, Xinxiang City, Henan Province in the field of new energy cylindrical battery steel shell and precision structural parts. At the end of March this year, it received the first payment of 20 million yuan, and officially launched the phase I project of building 3 billion cylindrical power battery steel shell annually with an investment of 800 million yuan. However, as we all know, under the influence of multiple factors, the new energy industry chain is currently experiencing a "cold winter" in the industry, and the whole industry is in a weak stage. All major enterprises in the industry chain are cautious in investment and production expansion, especially in battery enterprises. According to the latest GGII data, from January to October 2019, the production of new energy vehicles in China was about 916000, up 14% year on year, and the installed capacity of power batteries was about 46.38gwh, up 34% year on year. Among them, the installed capacity of cylindrical battery is about 3.27gwh, down 20% year on year. In addition, from the perspective of the market, since the sharp decline of subsidies, in order to improve the battery energy density and vehicle endurance mileage, the main engine factory has switched most models from cylindrical batteries to square or soft bags, and the market space of cylindrical batteries has been seriously squeezed, which has significantly reduced its application proportion in new energy vehicles. In such a depressed market, it is still against the trend, which is difficult for a cross-border enterprise. Even if slake said in the announcement of the cooperation that the company has key technologies and equipment in the new energy aluminum battery shell technology, and Hefei Lixiang, which cooperates with it, has many years of experience in manufacturing lithium battery shell, it is not enough to offset the doubts and concerns of the outside world. From the can to the battery case, Shrek has a long way to go.