Henan Yicheng New Energy Co., Ltd.
易成新能
300080
Shenzhen Stock Exchange
Company Profile
(1) Project-driven Focus to Strengthen Industrial Support The Qinghai Tianlan Phase II project was completed and put into operation, achieving full production and sales despite an industry-wide operational rate below 50%. Yicheng Sunshine developed 8 new products, maintaining a Grade A product rate above 95% for its 18650 production line. Kaifeng Times improved the comprehensive conversion efficiency of its all-vanadium flow energy storage power station to 70% while reducing production costs by 40%. All core components of the vanadium flow battery are now independently developed and manufactured. Nanyang Tiancheng’s "30,000-ton Integrated High-performance Lithium-ion Battery Anode Material Project" (Phase I) completed joint trial operations, establishing a full-chain integrated production process from raw material input to finished anode material delivery. This marks Henan Province’s first fully integrated anode material production line. (2) Unified Sales Platform Consolidates Resources and Enhances Brand Impact In August 2024, Yicheng New Energy Supply Chain Company was officially established, signifying a critical step in consolidating internal resources and optimizing market strategies. As the group’s unified sales platform, it coordinates production and sales across subsidiaries, centralizing resources for core products such as graphite electrodes, anode materials, and lithium batteries. Leveraging economies of scale, the platform strengthens market bargaining power and eliminates fragmented operations and internal competition among subsidiaries. By sharing data and analyzing demand, the platform dynamically adjusts product portfolios to precisely match downstream application scenarios, fostering synergy between R&D and market needs. This lays the foundation for expanding into premium markets and overseas operations. (3) Strengthen Internal Management and Deepen Cost Control Established a specialized task force and office for operational benchmarking, formulating a three-year benchmarking plan with clear metrics and pathways. Optimized financing structures by increasing direct financing, low-cost financing, and replacing high-interest short-term loans, reducing the listed company’s overall financing costs by 0.38 percentage points year-on-year. Advanced daily cost and profit management, implementing activity-based costing systems across subsidiaries to refine cost controls, decentralize accounting units, and maximize efficiency in resource utilization. (4) Dual-driven Internal-External Synergy to Create Industrial Chain Value Yicheng New Energy leverages its internal industrial chain synergies: Anshan Zhongte prioritizes supplying mesophase coke to meet internal anode material production demands. Shoucheng Technology supports Kaifeng Carbon and Fuxing Technology by supplying modified asphalt and impregnation asphalt for graphite electrode production. Yicheng Hanbo and Nanyang Tiancheng provide high-quality, cost-effective anode materials to Yicheng Sunshine. Externally, the company taps into China Pingmei Shenma Group’s resources: Yicheng Hanbo partners with Zhongyi Chuangxin’s silicon carbide project to develop high-purity graphite carbon materials. Zhongyuan Golden Sun enhances its operation and maintenance capabilities for photovoltaic, wind, and energy storage projects by utilizing Tianyuan New Energy’s labor resources. (5) Advance Technological Innovation to Drive Creativity The company prioritizes R&D collaboration with leading institutions, including Peking University Shenzhen Graduate School and Tsinghua University Shenzhen Graduate School. In 2024, it contributed to drafting 7 national/industry standards and secured 71 intellectual property authorizations. Subsidiaries earned 1 provincial-level and 3 industry association awards for technological innovation, significantly boosting the company’s industry influence and reputation. (6) Deepen Reforms to Energize Organizational Vitality Implemented "Four-System Reforms" (management, incentives, oversight, and accountability) across 5 subsidiaries (Kaifeng Times, Nanyang Tiancheng, Yicheng Hanbo, Yicheng Sunshine, and Anshan Zhongte), streamlining 29 administrative departments. Embraced a talent-centric strategy, recruiting 97 graduates through campus hiring and job fairs to strengthen its high-end talent pool. Revamped performance evaluation systems with full-process, multi-factor assessments linked to compensation. Quarterly performance reviews ensure accountability and incentivize results
Full description
Henan Yicheng New Energy Co., Ltd. (hereinafter referred to as "Yicheng New Energy"), headquartered in the Fine Chemical Industrial Park of Kaifeng City, Henan Province, is a mixed-ownership listed enterprise (Stock Abbreviation: Yicheng New Energy; Stock Code: 300080) with a registered capital of 2.176 billion RMB. It operates primarily in the new energy and new materials sectors. China Pingmei Shenma Group, its largest shareholder, holds a 40.18% stake, and the company is ultimately controlled by the State-owned Assets Supervision and Administration Commission of Henan Province. Focusing on the new energy and new materials industries, Yicheng New Energy has established an industrial framework centered on ultra-high-power graphite electrodes, needle coke, anode materials, photovoltaic power station investment/construction/operation, and lithium-ion batteries. Key products include UHP750 and UHP650 large-sized ultra-high-power graphite electrodes. The company currently operates a 1.5GWh lithium-ion battery production capacity, manufacturing 18650 and 21700 battery cells. Its anode material production capacity for lithium-ion batteries ranks among the top in China. The company aims to achieve a development target of constructing no less than 3GW photovoltaic power stations by the end of the 14th Five-Year Plan period. Adhering to the development philosophy of "technology-driven enterprise growth," Yicheng New Energy maintains technological innovation as its core strategy. Through sustained R&D investment, the company has achieved significant technological breakthroughs and gained widespread recognition from national authorities, industry peers, and markets. It has established multiple research institutions including: National-level Enterprise Technology Center Collaborative Laboratory with the Institute of Electrical Engineering, Chinese Academy of Sciences Henan Carbon Materials Academician Workstation Henan Postdoctoral Research Workstation Henan Postdoctoral Innovation Practice Base Henan Graphite Materials Engineering Technology Research Center Henan Advanced Silicon Carbide Materials Key Laboratory High-performance Carbon Materials Full-process Key Laboratory Henan Kaicarbon New Materials Design Institute Henan Zhongyuan Golden Sun Power Design Institute These platforms continuously enhance the company's R&D capabilities. In alignment with national strategic emerging industry development guidelines, Yicheng New Energy will prioritize "capital-linked industrial operations." By the end of the 14th Five-Year Plan period, the company plans to achieve: 100,000 tons annual capacity for large-sized ultra-high-power graphite electrodes 100,000 tons annual capacity for lithium-ion battery anode materials 100,000 tons annual graphitization capacity 100,000 tons annual needle coke production 10GWh annual lithium-ion battery production capacity 3GW photovoltaic power station construction target Committed to becoming a premier service provider in the "new energy and new materials" sector, Yicheng New Energy strives to develop into a domestically competitive investment holding listed company with core technological advantages.