SEMCORP: Be Confident About the Future of New Energy, and Will Newly Increase Production Capacity by 3 Billion Square Meters This Year
In the evening of April 26, SEMCORP released 2023 Q1 Report. According to the report, the operating revenue of the Company reaches 2.568 billion yuan, and the net profit for the shareholders of the listed Company reaches 0.649 billion yuan. On April 27, SEMCORP held Q1 Report Performance Exchange Meeting at Shanghai Enjie. Paul Xiaoming Li, the Chairman of SEMCORP, and the senior executives of the Company attended the Meeting and exchanged ideas with attending researchers and analysts in depth. Besides, according to Paul Xiaoming Li, the Company is confident about Chinese economic development and the prospect of global new energy automobile industry, and the Company will newly increase production capacity by 3 billion square meters continuously in 2023.
Paul Xiaoming Li, the Chairman of SEMCORP, attended the Q1 Report Performance Exchange Meeting.
Paul Xiaoming Li, the Chairman of SEMCORP, emphasized the Company is confident about the sustainable development of Chinese economy and the prospect of global new energy automobile industry.
With respect to production capacity, Chairman Paul Xiaoming Li affirmatively expressed SEMCORP will keep established production capacity expansion pace continuously in 2023 and that according to anticipation, the Company will newly increase production capacity by 3 billion square meters mainly at Chongqing Base, Hubei Jingmen Base, Jiangsu Jintan Base, overseas Hungarian Factory, etc. in a whole year. In view of judgment on and confidence in market, SEMCORP will not change overall production capacity expansion pace.
With respect to research & development investment and technical progress, overseas layout, cost reduction and efficiency increase, etc., Chairman Paul Xiaoming Li introduced the following details in high spirits: 1. SEMCORP built the largest separator industry institute on a global scale. The research & development investment for last year reaches 0.724 billion yuan, and in Q1 of this year, the Company keeps a research & development investment of 0.203 billion yuan continuously, increasing by 89% compared with the same term of last year. Therefore, the research & development investment of the Company far exceeds that of other companies in this industry. 2. In the future, the market in Europe and America will probably be at the same level as Chinese market, so there is still great room for the market in Europe and America. SEMCORP boasts international vision and competitiveness as well as extremely superior overseas customer group and overseas production capacity layout, with very high competition barrier. 3. The exclusive in-line coating technique of SEMCORP can practically realize cost reduction and efficiency increase and largely widen and deepen “moat”.
Chairman Paul Xiaoming Li also expressed energy storage is also a huge market in addition to power battery market and that the Company is accelerating the production capacity layout of dry separator, to meet the demands of energy storage industry.
Site of the 2023 Q1 Report Performance Exchange Meeting of SEMCORP
At the above Meeting, the executives and partners of the Company also answered questions regarding price reduction, production scheduling, technology, market, equipment domesticization, overseas cooperation mode, overseas layout cost, private placement, etc.