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Public company info - FDG Kinetic Limited , 00378.HK
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FDG Kinetic Limited, 00378.HK - Company Profile
Chairman -
Share Issued (share) 6,753,000,000
Par Currency Hong Kong Dollar
Par Value 0.2
Industry Investments & Assets Management
Corporate Profile Business Summary: The Group are principally engaged in research and development, manufacturing and trading of cathode materials for lithium-ion batteries and direct investments, including securities trading, loan financing and asset investment. Performance for the year: During the year under review, the Group recorded total revenue of approximately HK$30.8 million, representing a decrease of approximately 26.7% as compared with the revenue of approximately HK$42.0 million for the year ended 31 March 2020. The Group’s loss attributable to equity shareholders of the Company for the year ended 31 March 2021 amounted to approximately HK$311.9 million, representing a decrease in loss of approximately HK$45.5 million as compared with the loss of approximately HK$357.4 million for the year ended 31 March 2020. Business Review: During the year under review, affected by the outbreak of the COVID-19 pandemic worldwide, both the PRC and global financial markets faced lots of challenges, hence a rising risk of uncertainty on global economy. According to the economic data from the National Bureau of Statistics of China (the “NBS”), China’s gross domestic product expanded 2.3% year on year in 2020, exceeding the 100-trillion-yuan (15.42 trillion U.S. dollars) threshold to 101.5986 trillion yuan. The Chinese economy advanced 18.3% year-on-year in the first quarter 2021, accelerating sharply from a 6.5% growth in the fourth quarter and compared with market consensus of 19%. This was the strongest pace of expansion since the series began in 1992, boosted by strengthening domestic and global demand, strict virus containment measures, and continued fiscal and monetary support. The latest reading reflected a low comparison base in 2020 when activity plunged due to the COVID-19 shocks. For 2021, according to NBS, China expects the economy to grow by more than 6%. However, the services sector and smaller firms still faced challenges, while consumer inflation was likely to remain moderate. Battery Business According to the “New Energy Vehicle Industry Development Plan (2021-2035)” (draft for comments) issued by the Ministry of Industry and Information Technology of China in December 2019, the planned sales of emerging energy vehicles will account for about 20% over the total vehicle sales by 2025. According to data from the China Association of Automobile Manufacturers, the sales volume of new energy vehicles in 2020 is approximately 1.3 million, a year-on-year increase of 10.9%. Furthermore, most of countries like Norway, Germany, Sweden, the United Kingdom and France are going to ban the sales of fuel vehicles successively from the years 2030 to 2040. Driven by the speedy growth of the global new energy vehicle industry, the power battery markets will have huge development potential in the future. Power battery can also be used in the energy storage system, which can effectively improve power generation efficiency and reduce electricity costs. The energy storage system is gradually matured and widely-use in various applications. According to statistics from SNE Research, global energy storage battery shipments in 2020 will be 20GWh, an increase of 82% year-on-year. With the gradual decline in the cost of lithium batteries and the increase in its cycle life, the acceleration of clean power will bring about continuous rapid growth in the demand for energy storage. Cathode Materials Business The ternary material is a multi-element metal composite oxide represented by lithium nickel cobalt manganese oxide and lithium nickel cobalt aluminate. It is one of the main cathode materials for power batteries and is mainly used in passenger cars and most logistics vehicles. With the strong support of national policies, new energy vehicles have been developed, which stimulates power batteries and its related supplementary materials industries have developed rapidly in recent years. From 2016 to 2020, the ternary material output in PRC market shows a rapid growth trend. According to the statistics of GGII, the total output of ternary cathode materials in 2020 was 234,600 tons, a year-on-year increase of 22.19%. Prospects: With the continuous national support policies, technological improvements and gradual cost reduction, the demand in battery industry is at a high speedy growth as well as the cathode material industry. Tthe Group strived to export its products beyond the domestic market and has signed cooperation agreement with an affiliate company of Advanced Lithium Electrochemistry (Cayman) Co., Ltd, one of the pioneers and experts in the cathode materials production, in assisting the Chongqing factory to promote its products and related services to potential customers in Japan and South Korea. However, the Group has a high gearing ratio and numerous defaulted loans, it needs to focus its short term effort in capital reorganisation, fund raising and debt restructuring in order to position itself for the potential growth.

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