Following the closure of the Chinese factory by SKI due to poor operation at the beginning of the year, another Korean battery company in China was in trouble. This time, the trouble fell to the head of Samsung SDI. Due to insolvency, the Chinese shareholders of Samsung SDI Tianjin Factory intend to transfer 30% of its shares.
On October 16, the Tianjin Property Rights Exchange Center announced that Tianjin Zhonghuan Electronic Information Group Co., Ltd. (hereinafter referred to as “Tianjin Zhonghuanâ€) and Tianjin Economic and Technological Development Zone State-owned Assets Operation Company (hereinafter referred to as “Jingsuo Capitalâ€) were publicly transferred. Some Samsung (Tianjin) Battery Co., Ltd. (hereinafter referred to as "Samsung Tianjin Battery") a total of 30% of the shares.
Among them, Tianjin Zhonghuan will sell a 10% stake in Samsung Tianjin Battery, with a reserve price of 118.103 million yuan; a 20% stake in the sale of state-owned assets, the reserve price is 23.62 million yuan.
According to the data, Samsung Tianjin Battery is a joint venture between Samsung SDI Co., Ltd. and Tianjin Zhonghuan and Economic Development Corporation. The three companies hold 50%, 30% and 20% respectively. Founded in October 2015, the company's main business includes the development and production of circular lithium-ion batteries including energy-type power batteries for automobiles.
It is worth noting that as an important part of Samsung SDI's new energy vehicle battery business in China, Samsung Tianjin Battery has been developing unsatisfactory since its inception and is in a state of loss. It has been sold by two major shareholders to 30% today. Equity.
According to the announcement, Samsung Tianjin Battery's revenue in the past two years has dropped sharply. In 2016, it achieved operating income of 492 million yuan, net profit loss of 85.394 million yuan and liabilities of 926 million yuan. As of August 31, 2017, Samsung Tianjin Battery achieved a revenue of 90.08 million yuan and a net profit of 9,014,600 yuan.
Despite the turnaround in 2017, the overall development of Samsung Tianjin battery is still not ideal. As of August 31 this year, its total assets were 80,266,170 yuan, but the total liabilities were 806,481,100 yuan, and the owner's equity was 3.189 million yuan, which was caught in the insolvency development.
The stake in Samsung Tianjin Battery was sold by Chinese companies. The industry believes that the main reason is that Samsung SDI's power battery business in China has been unable to make good progress and cannot enter the recommended catalogue to obtain subsidy.
In addition to not entering the recommended catalogue, the explosion accident also made Samsung SDI's business situation worse.
On February 8, 2017, the fire in the Samsung Tianjin battery factory caused great concern in the industry and greatly affected the production and operation of the plant.
The announcement of the listing transfer also mentioned that on February 8, a fire broke out in the factory of Samsung (Tianjin) Battery Co., Ltd., because some equipment and stocks of fire extinguishing were wetted by water, after more than half a month of drying and debugging, it did not affect normal production. Operation, the deadline for the issuance of the assessment report, the fire damage is still in the inventory, and the final loss has not been determined.
"Samsung SDI's power battery business in China has not developed smoothly since the previous year. At present, the domestic power battery factory is basically idle, and hesitant about the future of China's power battery market." A Samsung SDI lithium battery supply The company disclosed that the company only supplies digital battery materials to Samsung. The power battery materials are supplied to LG Chemical. However, the two battery companies are not ideal in China, and they have already shifted their focus to Europe.
Industry insiders pointed out that in fact, the power batteries of Samsung, LG and other companies are indeed more advantageous than domestic batteries in terms of product performance and cost performance. They also went to international mainstream car companies such as BMW, Mercedes-Benz and Tesla, and domestic first-line companies such as SAIC and JAC. The recognition of the car company. However, due to the inability to obtain subsidies for subsidies from China's new energy vehicles, local automakers did not dare to use Japanese and Korean batteries rashly, resulting in the above-mentioned enterprises' power battery business in China being frequently blocked.
In the list of the first nine batches of new energy vehicles that have been released in 2017, several models have been equipped with power batteries from foreign brands such as AESC, LG Chem and FMC, but Samsung SDI is still absent.
The industry believes that in the short term, the opportunities for Japanese and Korean battery companies, including Samsung SDI and LG Chem, to open the Chinese power battery market are very slim. Most auto brands also have a wait-and-see attitude toward foreign batteries.
It is understood that in addition to Samsung SDI's power battery factory shutdown in China, LG Chemical's battery plant in China is still operating but also affected, Panasonic's battery factory in China is still in the process of construction, and South Korea SKInnovation joint venture with Chinese companies Beijing Electric Control Aisikai Technology Co., Ltd., a new energy vehicle battery company established in China, was directly shut down in March this year due to the decrease in order quantity.
It is worth noting that after the Chinese market hit the wall, the above-mentioned battery companies turned their attention to Europe, established a large-scale power battery factory in the local area, seized the European market, and laid out the global power battery market.
In May, Samsung SDI invested 358 million US dollars in the power battery factory built in Goed, Hungary, and is expected to start production in the second half of 2018, with an annual output of 50,000 batteries.
In October, South Korea's LG announced that LG Chem will invest US$1.63 billion to build Europe's largest lithium-ion battery plant for electric vehicles in Poland. It is expected to start production in 2019, supplying 100,000 electric vehicles per year.
Prior to this, SKI also announced that the company plans to build a battery factory in Europe to provide power batteries for Daimler.
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