Summary: On 29 March, 2024, DFD released its annual report for 2023. On the same day, DFD updated the latest progress of its LiPF₆ project, ultra-pure electronic grade hydrofluoric acid project and LiFSI project.

On 29 March, 2024, Do-Fluoride New Materials Co., Ltd. (DFD) announced that its "30,000 t/a ultra-pure electronic grade hydrofluoric acid project and 30,000 t/a ultra-pure wet electronic chemical project" would be postponed from 30 April, 2024 to 30 May, 2025. Among them, the production capacity of 10,000 tonnes in the "30,000 t/a ultra-pure electronic grade hydrofluoric acid project" has reached the scheduled serviceable state in 2023. Regarding the reasons for the delay, DFD said that due to the change of market environment and the downward pressure of macro economy, the company controlled the investment rhythm of the above two projects and slowed down the implementation progress of the projects.

In terms of LiPF₆ and LiFSI, on 29 March, 2024, DFD said that 10,000 tonnes of LiPF₆ will be completed and put into production in this year. As for the price of LiPF₆, DFD expects it to rise steadily in 2024, and enter a new stage of steady development from the stage of sudden plunging and soaring. In 2024, DFD plans to add 2000 tonnes of LiFSI production capacity. DFD also stated that the new production process would ensure its LiFSI has strong competitiveness in the market.

On the same day, DFD also published its 2023 annual report. In terms of performance, the operating income of DFD in 2023 was USD1.68 billion (RMB11.94 billion), a YoY decrease of 3.41%; the net profit attributable to shareholders of listed companies was USD71.75 million (RMB509.81 million), a YoY decrease of 73.83%. Regarding the decline in performance, DFD said that in 2023, the relationship between supply and demand of new energy vehicles changed, the competition between upstream and midstream of materials intensified, and the prices of raw materials such as superimposed lithium carbonate fluctuated greatly, resulting in a decline in the overall gross profit margin and profitability of products.

For future planning, DFD indicated that it would continue to consolidate its leading position in fluorinated salts: It will promote the comprehensive utilization of low-grade fluorosilicone resources, enhance the single line production capacity and industrialization scale of hydrofluoric acid production from fluorosilicic acid. It will also selectively extend to the field of organic silicon fluoride. In the field of batteries, DFD will conduct all-round research and layout of sodium batteries and material systems, and actively lay out the cascade utilization and recycling of lithium batteries.