On April 20, 2022, JSTN Nanotechnology Corporation, a leading carbon nanotube supplier in China, released its 2021 financial report:
The company's operating income mainly comes from carbon nanotube powder and carbon nanotube conductive paste. Among them, the carbon nanotube conductive paste products achieved operating income of 1.308 billion yuan, a year-on-year increase of 180.61%. Net profit was 296 million yuan, a year-on-year increase of 175.88%;
JSTN said that with the growing demand for high-quality batteries in the power lithium battery market, carbon nanotube conductive pastes are gradually replacing traditional conductive agents to improve their energy density, fast charging and fast discharging, and cycle life.
In 2021, downstream power lithium battery companies will increase the demand for carbon nanotube conductive paste replacement, which will promote the growth of the company's main product carbon nanotube conductive paste demand;
On the other hand, due to the rapid development of the downstream new energy vehicle industry, the demand for power lithium batteries has increased rapidly, and the demand for carbon nanotube conductive paste products has increased rapidly.
The sales volume of the company's main product, carbon nanotube conductive paste, has increased, and the sales revenue has increased significantly compared with the same period of the previous year.
JSTN's main products include carbon nanotube powder, carbon nanotube conductive paste, graphene composite conductive paste, carbon nanotube conductive masterbatch, etc. In the field of power lithium batteries, the common practice of enterprises is to add carbon nanotubes to the positive electrode material as a conductive agent to improve the conductivity of lithium batteries, increase the energy density of lithium batteries and improve the cycle life of lithium batteries.
In 2020, through the establishment of USTN in Nevada, the United States, the company established a carbon nanotube and related composite product production base, built a factory and carried out the "annual output of 8,000 tons of carbon nanotube conductive paste production line project",
CZTN, a wholly-owned subsidiary, invests in the construction of a carbon-based conductive material composite product production project, which will reach the production capacity of "50,000 tons of conductive paste, 5,000 tons of conductive plastic masterbatch and 3,000 tons of carbon tube purification processing" after completion.
In terms of technology, JSTN will invest a total of 51.9582 million yuan in research and development in 2021, and the number of research and development personnel will account for 19.60% of the company's total number of employees.
As of December 31, 2021, the company has obtained 15 invention patents and 41 utility model patents authorized by the State Intellectual Property Office of China, 19 invention patents authorized by Tsinghua University, 3 invention patents authorized by the United States Intellectual Property Office, and the Japan Patent Office Authorized 1 invention patent and 1 utility model patent, 2 invention patents authorized by Korea Intellectual Property Office, and 1 Taiwan invention patent.
The upgrade of the battery material system boosts the accelerated penetration of carbon nanotubes. With the trend of high nickel, silicon anode, and fast charging, the demand for carbon nanotubes will become more rigid, and it is expected to accelerate the penetration in the world. 10,000 tons, with a compound growth rate of 60% from 2021 to 2025. Carbon nanotubes continue to iterate, and the leading position is expected to continue to strengthen. Tiannai Technology will benefit from the accelerated penetration of downstream carbon nanotubes.