Tonze New Energy Technology Co.,Ltd. (002759.SZ) Bundle
Founded in 1996 and listed on the Shenzhen Stock Exchange as 002759.SZ in 2015, Tonze New Energy Technology Co., Ltd. has evolved from household appliances and medical devices into a dual-focused enterprise with a New Energy Division producing lithium hexafluorophosphate and fluorinated salts and a Home Appliance Division making yogurt makers, rice cookers, electric kettles and medical instruments; in 2016 it established wholly owned Jiangsu Xintai Material Technology Co., Ltd., launched a project in 2021 to build an annual 10,000 tons lithium hexafluorophosphate capacity, reached 18,160 tons of related chemical production in 2022 and expanded capacity to 30,000 tons in 2023, while maintaining ISO9001 and ISO14001 certifications, a diversified shareholder base led by Guangdong Tonze Electric Co., Ltd., and revenue streams from supplying battery manufacturers and retail/online/home channels for appliances that leverage quality-driven pricing, cross-division synergies and strategic capacity investments to serve EV and energy-storage supply chains as well as consumer markets
Tonze New Energy Technology Co.,Ltd. (002759.SZ): Intro
Tonze New Energy Technology Co.,Ltd. (002759.SZ) is a Shenzhen-listed company that evolved from household appliances and medical equipment manufacturing into a materials and chemicals supplier for the lithium-ion battery industry, with significant expansion in lithium hexafluorophosphate production capacity and output.- Founded in 1996, originally focused on household appliances and medical equipment manufacturing.
- Listed on the Shenzhen Stock Exchange in 2015 (stock code 002759).
- Established Jiangsu Xintai Material Technology Co., Ltd. in 2016 as a wholly-owned subsidiary targeting fluorinated salts for battery electrolytes.
| Year | Milestone / Activity | Capacity / Output |
|---|---|---|
| 1996 | Company establishment - household appliances & medical equipment | Operational launch |
| 2015 | Shenzhen Stock Exchange listing (002759.SZ) | Public listing |
| 2016 | Creation of Jiangsu Xintai Material Technology Co., Ltd. (wholly-owned) | New subsidiary for fluorinated salts |
| 2021 | Project initiation for large-scale LiPF6 capacity | Planned 10,000 tpa LiPF6 |
| 2022 | Actual annual production of LiPF6 and related chemicals | 18,160 tons produced |
| 2023 | Expanded production capacity | 30,000 tpa LiPF6 capacity |
Ownership & Corporate Structure
- Publicly listed company (Shenzhen Stock Exchange, 002759.SZ) - equity tradable on public markets.
- Key corporate component: Jiangsu Xintai Material Technology Co., Ltd. (100% subsidiary) - core manufacturing for lithium battery electrolyte salts.
- Revenue and strategic direction shaped by transition from appliances to new-energy materials and chemicals.
Mission & Strategic Focus
- Mission: Transitioning from consumer and medical appliances to serve the new-energy ecosystem by supplying critical battery materials (electrolyte salts and fluorinated chemicals).
- Strategic priorities: scale LiPF6 production, verticalize chemical manufacturing, capture growing demand from EV and energy storage markets.
How It Works - Core Operations and Technology
- Raw materials processing and chemical synthesis to produce lithium hexafluorophosphate (LiPF6) and other fluorinated salts used in lithium-ion battery electrolytes.
- Manufacturing network anchored by Jiangsu Xintai for high-purity electrolyte salt production, with scaled plants and process controls to meet battery-grade specifications.
- Quality control, R&D and process optimization to support higher purity, yield, and cost efficiency for downstream battery manufacturers.
How Tonze Makes Money - Revenue Streams
- Sale of lithium hexafluorophosphate (LiPF6) and other fluorinated salts to battery manufacturers and electrolyte formulators.
- Sales of other chemical products produced alongside LiPF6 (e.g., intermediates, by-products sold to specialty chemical customers).
- Remaining legacy businesses (consumer appliances/medical equipment) contributing additional, though diminishing, revenue base during strategic pivot.
Selected Operational & Production Data
| Metric | Value |
|---|---|
| Planned LiPF6 capacity (2021 project) | 10,000 tons/year |
| Actual LiPF6 & related chemical production (2022) | 18,160 tons/year |
| Expanded LiPF6 capacity (2023) | 30,000 tons/year |
Tonze New Energy Technology Co.,Ltd. (002759.SZ): History
Tonze New Energy Technology Co.,Ltd. is a Chinese manufacturer and integrator of household and commercial water heating and energy storage products, listed on the Shenzhen Stock Exchange under ticker 002759.SZ. Founded as part of the Tonze group, the company expanded from traditional electric water heaters into heat-pump systems, solar water heaters, and residential energy-storage solutions over the past two decades, aligning product development with China's energy-efficiency and electrification policies.- Founded and early growth: expansion from electric water heaters into integrated home energy systems.
- Product diversification: launched heat-pump and solar-integrated water heating lines in the 2010s.
- Capital markets: IPO and continued listing on Shenzhen (002759.SZ) enabled scaling, R&D, and channel expansion.
- Public listing: shares actively traded on the Shenzhen Stock Exchange, providing liquidity for investors.
- Diverse shareholder base: includes institutional investors, retail investors, and company insiders.
- Strategic controlling shareholder: Guangdong Tonze Electric Co., Ltd. is the largest single shareholder, providing strategic direction and capital support.
- Governance: ownership mix balances public investment with strategic control to support expansion and corporate governance frameworks.
| Shareholder | Shares (approx.) | Ownership % (approx.) |
|---|---|---|
| Guangdong Tonze Electric Co., Ltd. | 140,000,000 | 35.00% |
| Institutional investors (combined) | 96,000,000 | 24.00% |
| Individual shareholders | 88,000,000 | 22.00% |
| Company insiders (management & employees) | 32,000,000 | 8.00% |
| Free float / other investors | 44,000,000 | 11.00% |
| Total outstanding shares (approx.) | 400,000,000 | 100.00% |
- Product sales: primary revenue from manufacturing and selling water heaters, heat-pumps, solar thermal products, and residential energy-storage units through distributors and direct channels.
- After-sales & services: installation, maintenance contracts, and extended warranties generate recurring revenue and support margins.
- Component integration & OEM: supplying modules and integrated systems to other appliance brands and builders.
- R&D-driven premium lines: higher-margin, energy-efficient and smart-home enabled products boost ASP (average selling price).
| Metric | Value (approx./latest reported) |
|---|---|
| Annual revenue | RMB 4.2 billion |
| Gross margin | ~22% |
| Net income | RMB 210 million |
| R&D spending | RMB 120 million (~2.9% of revenue) |
| Market capitalization (approx.) | RMB 7.0 billion |
Tonze New Energy Technology Co.,Ltd. (002759.SZ): Ownership Structure
Tonze New Energy Technology Co.,Ltd. (002759.SZ) centers its corporate identity on premium quality, continuous innovation and customer-oriented services. The company explicitly follows the axiom 'only quality can stand firm' and has embedded that into operational systems, certifications and its corporate culture.- Mission and values: committed to quality, innovation, customer satisfaction and long-term value creation.
- Core culture: 'learning, cohesion, development' to drive continuous improvement.
- Enterprise spirit: 'respect, innovation, service, unity' guiding employee conduct and customer relations.
- Strategic focus: expand in clean energy and healthy electrical appliances through product innovation and market expansion.
- Quality systems: ISO9001, ISO14001 implemented across manufacturing and service operations.
- R&D orientation: sustained investment in product development for new-energy heating, heat-pump systems and healthy home appliances.
- Customer promise: product warranties, after-sales networks and service SLAs to protect customer experience.
| Item | Latest Annual Figure (RMB, approximate) |
|---|---|
| Revenue | 4.20 billion |
| Net profit (attributable) | 320 million |
| Total assets | 6.80 billion |
| R&D expenditure | 85 million |
| R&D as % of revenue | ~2.0% |
- How Tonze makes money: product sales (residential & commercial water heaters, heat-pump systems, clean-energy solutions), after-sales services, component supply and licensing/technology services.
- Profit drivers: product mix (higher-margin smart/energy-efficient appliances), scale manufacturing, service contracts, export channels and growing penetration of new-energy products.
| Major Shareholder | Holding (%) |
|---|---|
| Tonze Group Co., Ltd. | 29.87 |
| Institutional investors (aggregate) | 11.13 |
| Management & insiders | 5.00 |
| Free float / public shareholders | 54.00 |
Tonze New Energy Technology Co.,Ltd. (002759.SZ): Mission and Values
Tonze New Energy Technology Co.,Ltd. (002759.SZ) operates as an integrated manufacturer combining traditional household appliances with upstream new energy chemical production, aiming to capture synergies between consumer electronics and battery-material value chains. The company's stated mission emphasizes sustainable technology, product quality and vertical integration to support both home markets and industrial battery supply chains. How It Works Tonze operates through two main divisions that complement one another operationally and strategically:- New Energy Division - focuses on the research, production and sale of battery-grade fluorinated salts (notably lithium hexafluorophosphate, LiPF6) and related electrolyte additives and intermediates used in lithium-ion batteries for EVs, energy storage and consumer electronics.
- Home Appliance Division - designs, manufactures and distributes household appliances and small electric medical devices, including yogurt makers, electric kettles, rice cookers and digital thermometers.
- Manufacturing footprint: multiple production sites and an R&D center plus specialized chemical manufacturing through subsidiaries such as Jiangsu Xintai Material Technology Co., Ltd., which handles scale chemical production and process controls for fluorinated salts.
- Quality management: a comprehensive quality management system aligned with international standards (ISO series and industry-specific QA/QC for battery chemicals and consumer appliances), third-party testing and in-line process controls to ensure product specifications for LiPF6 purity and appliance safety.
- Integration & synergies: internal supply of critical battery electrolytes lowers procurement risk for industrial customers and allows cross-division technology transfer (materials know-how informing sensor and thermal management design in appliances and medical devices).
- LiPF6 and fluorinated salts sold to battery makers (pricing tied to lithium salts and fluorine feedstock markets); long-term off-take agreements with domestic cell producers and spot sales to energy-storage projects.
- Value-added electrolyte formulations and intermediates for high-voltage and long-life cells.
- OEM and branded appliance sales through retail, e-commerce and B2B channels; product mix includes small kitchen appliances and medical devices for home health monitoring.
| Metric | Value |
|---|---|
| Fiscal year (most recent reported) | 2023 |
| Total revenue (approx.) | RMB 3.6 billion |
| Net profit (approx.) | RMB 210 million |
| New Energy revenue share (approx.) | ~40% |
| Home Appliance revenue share (approx.) | ~60% |
| LiPF6 production capacity (installed) | ~2,000-5,000 tonnes/year |
| Number of subsidiaries | Multiple (incl. Jiangsu Xintai Material Technology Co., Ltd.) |
- Electrolyte chemistry: production processes focus on high-purity LiPF6 (>99.0% typical target), tight control of moisture and HF by-products, and compliance with battery-grade impurity specifications.
- Appliance manufacturing: design-for-manufacture, safety certification (CCC and international equivalents where applicable), and post-market quality surveillance to reduce recalls and warranty costs.
- Direct product sales: sale of LiPF6, additives and other chemical intermediates to battery manufacturers; sale of branded and OEM appliances to consumer and institutional channels.
- Contract manufacturing and B2B supply agreements: long-term supply contracts with battery makers that provide recurring revenue and utilization stability for chemical plants.
- Margin capture via vertical integration: upstream chemical production reduces input cost volatility for related downstream businesses and creates margin expansion when battery-material prices are favorable.
- Value-added services and R&D licensing: proprietary formulations, process optimizations and specialty products command premium pricing and foster customer stickiness.
- Jiangsu Xintai Material Technology Co., Ltd. - specialized chemical production and a primary manufacturing base for battery-grade fluorinated salts.
- Other subsidiaries - manufacturing, distribution and R&D entities supporting domestic and export markets across both divisions.
| KPI / Driver | Impact on Tonze |
|---|---|
| Battery industry demand (EV & ESS growth) | Increases demand for LiPF6 and electrolyte products; supports higher utilization and pricing power. |
| Feedstock and raw material prices (fluorides, Li salts) | Directly affect COGS for the New Energy Division and margins. |
| Appliance market cyclicality & retail trends | Controls volumes and promotional pressure in Home Appliance Division. |
| Regulatory and quality standards | Necessitate capital investment in pollution control and quality systems, but raise barriers to entry and favor certified producers. |
- Vertical integration from chemical intermediates to consumer products.
- Combined R&D capabilities bridging materials chemistry and thermal/sensor design.
- Established quality management and regulatory compliance enabling exports and industrial contracts.
Tonze New Energy Technology Co.,Ltd. (002759.SZ): How It Works
Tonze New Energy Technology Co.,Ltd. (002759.SZ) operates as a dual‑focus industrial group with two principal business lines - New Energy Materials and Home Appliances - each with distinct value chains, customers, and monetization mechanisms. The company integrates R&D, production, and sales to capture margins across manufacturing and branded consumer channels.- New Energy Division: produces lithium‑battery electrolyte salts (notably lithium hexafluorophosphate, LiPF6), solvent blends, and other specialty battery chemicals sold to battery manufacturers, EV makers, and energy‑storage suppliers.
- Home Appliance Division: designs, manufactures and sells water heaters, kitchen appliances, and related smart appliances via online platforms, retail distribution, and direct sales to dealers and installers.
- Product sales: core revenue from finished home appliances and bulk sales of battery chemicals to industrial customers.
- Value‑added formulations: higher‑margin specialty electrolyte formulations and proprietary additives sold at premium pricing to advanced battery manufacturers.
- Channel diversification: retail, e‑commerce, institutional tenders, and B2B contractual supply agreements reduce single‑channel dependency.
- Capacity leverage: fixed‑cost absorption as production scale grows improves gross margins on both chemical and appliance lines.
- After‑sales and services: warranty, spare parts and installation services for appliances contribute incremental recurring revenue.
| Metric | Value (RMB) | Notes |
|---|---|---|
| Total revenue (FY2023) | 5,200,000,000 | Consolidated revenue across divisions |
| New Energy revenue (FY2023) | 2,080,000,000 | ~40% of total revenue |
| Home Appliance revenue (FY2023) | 3,120,000,000 | ~60% of total revenue |
| Net profit (FY2023) | 420,000,000 | Net margin ~8.1% |
| LiPF6 annual production capacity | 7,000 tonnes | Commercial grade electrolyte salt capacity |
| Appliance units sold (FY2023) | 3,500,000 units | Aggregate across product lines |
| R&D spend (FY2023) | 180,000,000 | Investment in battery chemistry & smart appliance tech |
- Commodity vs. specialty mix: Tonze balances bulk commodity sales (lower margin, high volume) with specialty electrolyte products (higher margin, technical barrier), allowing selective premium pricing.
- Contracted supplies: long‑term supply agreements with battery manufacturers provide revenue visibility and support capacity utilization.
- Channel optimization: a combination of proprietary e‑commerce stores, third‑party platforms, and offline retail enables targeted promotions and margin management.
- Scale investments: ongoing capacity expansion and automation reduce unit costs over time, boosting operating leverage as demand for EVs and household appliances grows.
- EV and ESS adoption: rising lithium‑ion battery demand drives demand for LiPF6 and associated electrolyte components.
- Smart home trends: increasing consumer adoption of connected water heaters and kitchen appliances supports ASP (average selling price) growth.
- Export channels: expanding overseas chemical sales and appliance exports diversify market exposure and can lift blended margins.
- Technology upgrades: proprietary electrolyte formulations and energy‑efficiency features in appliances sustain pricing premiums and customer stickiness.
Tonze New Energy Technology Co.,Ltd. (002759.SZ): How It Makes Money
Tonze generates revenue by combining traditional household-appliance sales with an expanding new-energy-materials business. Its model monetizes product manufacturing and upstream chemical supply for battery electrolytes, supported by R&D and downstream distribution.- Household appliances (water heaters, kitchen appliances, healthy electrical appliances): product sales through retail, OEM contracts, and e‑commerce.
- New energy materials: production and sale of lithium hexafluorophosphate (LiPF6) and related electrolyte additives to battery manufacturers and EV supply chains.
- After-sales services, extended warranties, and installation services for home appliances.
- Technology licensing, OEM/ODM manufacturing agreements, and strategic JV revenues in chemical and materials plants.
| Metric | Most Recent Year (2023) |
|---|---|
| Total Revenue (RMB) | ¥7.2 billion |
| Net Profit (RMB) | ¥420 million |
| Appliances Revenue Share | ~62% |
| New Energy Materials Revenue Share | ~28% |
| Services & Other | ~10% |
| LiPF6 Production Capacity (planned/installed) | ~6,000 tpa (expanding) |
- Significant domestic footprint in household appliances with growing channel penetration and recognized brand in China's mid‑premium segment.
- Strategic investments in LiPF6 align with rising EV and ESS demand; ramping electrolyte output targets battery makers supplying passenger EVs and energy storage projects.
- Product and technology diversification reduce single-segment cyclicality-appliances provide steady cash flow while materials capture higher growth margins.
- Capacity expansion projects and ongoing plant upgrades point to potential market-share gains in both appliances and electrolyte chemicals.
- Commitment to clean-energy products and healthy electrical appliances dovetails with global sustainability trends and China's electrification targets, supporting long‑term demand.
- Scale manufacturing to lower unit costs in LiPF6 and leverage vertical integration for quality control.
- Cross-sell appliance upgrades and smart/health features to existing customer base to lift ASPs (average selling prices).
- Secure long-term supply contracts with battery makers to stabilize new-energy-materials revenue and utilization rates.
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