Brief Introduction

Farasis energy, Inc., the predecessor of Farasis Energy (Ganzhou) Co., Ltd., was founded in the United States in 2002. By offering Li-ion batteries with leading energy density and power, it expanded into China and Europe, building a broad portfolio of battery solutions and global customers in different markets.

Farasis Energy is currently one of the largest manufacturers of pouch cells for the BEV market, with multiple global R&D centers and over 4,000 employees. Farasis Energy can provide one-stop energy storage solutions for battery development, production, and end-of-life processing, and is one of the first battery cell manufacturers to set up a 100 percent CO2 neutral factory.

Farasis Energy has been cooperating with top OEMs at home and abroad. Its partners include Daimler-Benz, Lotus, BAIC, GAC, FAW, Geely, GWM, etc... Farasis Energy has been deeply involved in the electric vehicle market for many years and is also expanding into other areas such as electric motor. It has also cooperated with electric motorcycle manufacturers Zero.

Important steps taken by Farasis Energy since its establishment:
● 2002 - founded by Dr. Yu Wang and Dr. Keith Kepler focused on NCM batteries for EVs, which is the most widely used battery chemistry today.
● 2009 - Farasis Energy established in China, the largest electric vehicle market.
● 2010-2015 - Electric motorcycles, auxiliary power units, forklifts and special vehicles were sold to the USA and Europe.
● 2015 - started programs with BAIC, one of the leading OEMs of China.
● 2017-2019 - started programs with other leading Chinese OEMs and Daimler (Mercedes-Benz) on a range of electric vehicles battery solutions.
● 2020 – Successful Initial Public Offering (IPO).
● Daimler acquired a 3% stake of Farasis Energy as a part of the battery cell deal.

Company Overview

Full name Farasis Energy (GanZhou) Co.,Ltd
Abbreviations Farasis Energy
Code 688567
Founded 2009.12.18
Listing 2020.7.17
Domicile Ganzhou
Website http://www.farasisenergy.com.cn/
Email Farasisir@farasisenergy.com.cn
STAR Theme New Energy
CSRC Sector Manufacturing
Has weighted voting rights structure? No

Financials

Highlights

  2019 2018 2017
Earnings Per Share 0.15 -0.11 0.05
R&D expenditure as a % of operating revenue 11.06% 4.95% 3.54%
Operating Revenue 2,449.63 2,275.65 1,338.61
Net Income 131.23 -78.21 18.26

Income Statement (Unit: RMB mn)

  2019 2018 2017
Operating Revenue 2,449.63 2,275.65 1,338.61
Operating Costs 1,874.14 2,148.52 1,117.97
Operating Income 138.17 -109.24 19.30
Pretax Income 142.28 -102.35 19.91
Income Tax 11.05 -24.13 1.65
Net Income 131.23 -78.21 18.26

Balance Sheet(Unit: RMB mn)

  2019 2018 2017
Assets
Current Assets-Total 7,121.14 7,432.93 1,322.26
Non-current Assets-Total 4,579.25 1,416.66 827.72
Total Assets 11,700.39 8,849.59 2,149.98
Liabilities
Current Liabilities-Total 3,519.50 1,961.97 1,297.32
Non-current Liabilities-Total 1,077.52 260.88 447.37
Total Liabilities 4,597.02 2,222.84 1,744.69
Stockholder's Equity
Share Capital 6,964.20 6,726.48 427.49
Retained Profits 139.17 -99.73 -22.20
Total Owners' Equity 7,103.37 6,626.75 405.29

Cash Flow Statement (Unit: RMB mn)

  2019 2018 2017
Net Cash Flows-Operating 483.52 -437.57 -147.85
Net Cash Flows-Investing 591.91 -4,933.79 -208.43
Net Cash Flows-Financing 336.00 5,772.59 129.05

Top 10 Shareholders

Name No. of Shares Held (mn) % of Shares Held
Farasis Energy(Asia Pacific)Limited 242.87 22.68%
国新风险投资管理(深圳)有限公司-深圳安晏投资合伙企业(有限合伙) 204.57 19.11%
东兴资本投资管理有限公司-上杭兴源股权投资合伙企业(有限合伙) 59.85 5.59%
上海宏鹰股权投资基金管理有限公司-兰溪宏鹰新润新能源股权投资合伙企业(有限合伙) 34.68 3.24%
戴姆勒大中华区投资有限公司 32.12 3.00%
上海孚水商务咨询中心(有限合伙) 20.74 1.94%
江西裕润立达股权投资管理有限公司-江西立达新材料产业创业投资中心(有限合伙) 20.67 1.93%
北京云晖投资管理有限公司-无锡云晖新汽车产业投资管理合伙企业(有限合伙) 19.11 1.79%
赣州孚创企业管理合伙企业(有限合伙) 17.13 1.60%
CRF EV TECH COMPANY PTE. LTD. 15.01 1.40%
30 Oct 2020

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