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Smarter Energy: increasing capital to Far East First by 150 million Yuan and witnessing fast growth

Date time:2016-06-22点击量:916Origin:

Source: stcn.com  Date:2016-06-22    Page view: 460

Link of original article: http://yq.stcn.com/2016/0621/12764013.shtml

Following the significant good news of “Far East First, a 100% owned company of Smarter Energy is selected into the enterprise list (the fourth batch) of Automobile Power Storage Battery Industry Code Conditions of Ministry of Industry and Information on June 20,2016”, Smarter Energy announced on the evening of June 21 that it will increase capital to Far East First by 150 million Yuan to expand the capacity of 18650 lithium power batteries and promote development of businesses of BMS, battery cloud and power station energy storage. The announcement shows that Far East First earned avenue amounting to 1.076 billion Yuan and net profit amounting to 114 million Yuan in 2015 and avenue of 243 million Yuan and net profit of 44.2895 million Yuan in the first quarter of 2016. The business develops fast and the performance grows soundly and consistently.

It can be referred from the previous announcements that Smarter Energy has been investing a series of capital and support into Far East First; in Nov. 2015, it provided the guarantee amounting to 600 million Yuan; in Jan. 2016, it increased capital by 100 million Yuan; in April 2016, it provided another guarantee amounting to 600 million; this capital increase is another step of the strategy. It can be assumed that the support from Smarter Energy to Far East First is large and the determination and confidence of developing ternary power battery and occupying the market in advance are firm and steady.

It’s learned that the emphasis of support from national policy has fallen from the whole new energy automobile to the field of power battery, especially to the domestic ternary battery industry from supply and demand. A famous security trading analyst anticipates that after implementation of battery enterprises list of Ministry of Industry and Information is published, the ternary batteries made in China will be possible to enter the market of power battery for middle and high end new energy automobiles and grasp relative advantages in competition with foreign battery companies; the space of growth will be opened further; after the available supply of ternary batteries is tightened, the production capacity in China is expected to be released in 2017 at earliest. Far East First and other principle Chinese battery companies are possible to grasp the early opportunity.

Far East First was founded in July 2009; in Nov. 2005, it was purchased by Smarter Energy with 1.2 billion Yuan by means of stock+ cash. Far East First has been dedicated to R&D, production and sale of 18650 lithium batteries, the single-model battery of the largest sale and best developed technology and equipment; with years accumulation in terms of production, technology and R&D, the technology and flow process of the battery have won high recognition from insiders and customers. First has the capacity of 1 million cylinder lithium battery at present, which is just next to Samsung and Panasonic. It’s expected in the industry that with the blowout of lithium battery industry, the industry volume of lithium ion battery will soar by about 400% by 2017. Far East First and other companies with the advantage of early initiative will surely welcome the exposition period of the performance. 

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