At present, the Shanghai and Shenzhen Lithium Battery concept stocks 2020 Annual report and 2021 Quarterly report have been basically disclosed, just over the past year, who makes the most money? Who is losing money?
The total revenue of 183lithium battery concept stocks in Shanghai and Shenzhen stock markets, including battery network statistics, in 2020 is more than 1.8 trillion yuan, with an average revenue of about 9.86 billion yuan; the total net profit is about 63.935 billion yuan, with an average net profit of about 350 million yuan; 80 companies have both increased revenue and net profit. Among them, BYD with the highest revenue reached 156.6 billion yuan, 35 with revenue of more than 10 billion yuan, such as BYD, Luoyang Molybdenum, ZTE, Tongling Nonferrous Metal, Sichuan Changhong, etc., and revenue of more than 1 billion yuan. There are 18 companies with net profits of more than 1 billion yuan, including Wanhua Chemical, Zhengtai Electric Appliance, Ningde era, ZTE Corporation and BYD, 98 with net profits of more than 100 million yuan and 28 with losses.
It is worth noting that in 2020, of the 183 lithium battery concept stocks counted, 110 achieved year-on-year growth in revenue (about 60%), but only 3 achieved year-on-year growth in revenue; 112 achieved year-on-year increase in net profit (accounting for about 61%). 49 have more than doubled, and 98 enterprises have a gross profit margin of more than 20%, accounting for about 54%.
In the first quarter of 2021, there were 79 lithium battery concept stocks with revenues exceeding 1 billion yuan, of which 12 were BYD, Luoyang Molybdenum, Tongling Nonferrous Metals, Wanhua Chemical, ZTE, Sichuan Changhong and Ningde era, and 65 had net profits of more than 100 million yuan, of which Wanhua Chemical, ZTE, Ningde Times, Sichuan Luqiao and Luoyang Molybdenum had net profits of more than 1 billion yuan.
It can be found that in 2020, the lithium battery industry is not as difficult as we thought. Although the first half of the year was greatly affected by the epidemic and other factors, but driven by market demand in the second half of the year, the performance picked up obviously, and this warming trend also continued to this year. Of the 183 lithium battery concept stocks, 96 announced revenue growth forecasts for 2021, with only one forecasting a slight decline and 95 positive growth.
In addition, Battery Network also made special statistics on the performance of 27 listed companies involved in lithium battery manufacturing, and 14 listed companies achieved growth in revenue and net profit in 2020. Specifically, in 2020, the revenue of seven listed companies, including BYD, Ningde Times, Tianneng shares, Xin Wanda, far East shares, Desai Battery and Nandu Power supply, exceeded 10 billion yuan, of which BYD's revenue exceeded 100 billion yuan, reaching 156.6 billion yuan. Ningde Times, BYD, Tianneng shares, Yiwei LiNeng, Hengdian East Magnetic Company net profit exceeded 1 billion yuan; 9 companies suffered losses; 10 companies had sales gross profit margin of more than 20%.
In the first quarter of 2021, the revenue of 16 listed companies exceeded 1 billion yuan, including BYD (nearly 41 billion yuan) and Ningde era (nearly 19.2 billion yuan). The net profit of 11 companies exceeded 100 million yuan. among them, the Ningde era with the highest net profit reached 1.954 billion yuan, 5 companies reported losses, and 16 announced the forecast growth rate of operating income in 2021, all of which showed positive growth.
In addition to performance, the lithium battery industry has shown the following characteristics since the second half of last year:
Good news of battery orders spread frequently.
According to incomplete statistics, in 2020, China's battery new energy industry listed companies announced and publicly reported orders have reached 42 (of which 16 are lithium battery orders), 24 announced the order amount, a total of about 40.127 billion yuan.
Since the beginning of this year, through the "binding" of battery companies with car companies, orders have been reported frequently:
On April 13, Funeng Technology announced that recently, the company received notice from Guangzhou Auto-Mitsubishi Automobile Co., Ltd. on the fixed point of the LE model project that Funeng Technology will develop and supply power batteries for GAC-Mitsubishi LE models with a supply cycle of five years.
On April 8th, Xinwanda announced that the company has received a letter of intent from Weirui, a wholly owned subsidiary of Geely Automobile Group, for the development of power battery cells for the PMA platform project, which will supply power battery products for its PMA platform project. This year, Xinwanda was also selected as the designated supplier of power battery parts for the A9e project under the GAC HEV platform series, and received a notification letter from Dongfeng Liuzhou Automobile Co., Ltd. on the selection of lithium iron phosphate CM5EV battery pack supplier.
On April 7, BYD held a new car press conference in Chongqing. At the meeting, Wang Chuanfu, chairman and president of BYD, announced that he had begun to supply blade batteries to the whole industry, among which the Fudi batteries carried by the Red Flag brand had been shipped.
In March, Honeycomb Energy reported that it had got 16 sales points, including domestic and foreign mainstream brands, outside the Great Wall, including Geely, Dongfeng, PSA and so on.
On February 25, Yiwei LiNeng announced that it had recently received a fixed point letter from the supplier of Jaguar Land Rover's 48V battery system project.
In February, Hyundai announced that Ningde Times and SK Innovation had been confirmed as the third batch of complete vehicle suppliers of pure electric vehicle chassis platform "E-GMP".
The peak of a new round of battery production expansion is coming.
Spurred by orders, a new round of lithium battery expansion has arrived, and several battery investment projects have been signed in April alone:
On April 28th, Ningde Times signed two "joint venture contracts" with ATL to jointly fund the establishment of two joint ventures to engage in the research, production, sales and after-sales service of medium-sized batteries used in household energy storage, electric two-wheelers and other fields. According to the announcement, the investment of the battery joint venture company is 12 billion yuan and that of the battery package joint venture company is 2 billion yuan.
On April 28th, Honeycomb Energy Technology Co., Ltd. signed a strategic cooperation agreement with Maanshan City, Anhui Province, which will invest 11 billion yuan to build a power battery cell and PACK production and development base in the local economic and technological development zone, and plan annual production capacity 28GWh. Since 2020, Honeycomb Energy has not only accelerated the expansion of the Jintan plant, but also quickly settled in Europe, Suining, Sichuan, and Huzhou, Zhejiang, to build intelligent chemical plants, with the total production capacity aimed at 200GWh.
On the morning of April 23rd, the Ruipu New Energy Industry Base project signed a contract, which will complete the investment in 2026 and put into full production in 2027, with a planned capacity of 100GWH and a total planned investment of about 30 billion yuan.
On April 22nd, AVIC Lithium and Chengdu Economic Development Zone signed a project cooperation framework agreement, and the two sides reached a consensus on AVIC lithium 50GWh power battery and energy storage battery Chengdu base project.
On the evening of April 19th, Baoli announced that the company intends to invest 7 billion yuan with the management committee of Zaozhuang High-tech Zone to build 10GWhPACK and 10GWh lithium battery production capacity projects, in order to meet the product layout of the company's lithium battery products in electric bicycles, four-wheel low-speed vehicles, small energy storage and low-speed intelligent travel, and enrich the company's business structure.
On the evening of April 12, Baoan, China, announced that its subsidiary, Bertrinay Nano, plans to sign a "Project entry Agreement" with the Management Committee of Xiangyang High-tech Industrial Development Zone. it is proposed to invest in the construction and production of high-performance lithium-ion battery projects in Xiangyang High-tech Zone. According to the project entry agreement, Beit Nano has built a plant to invest in high-performance lithium-ion battery projects in the former Beijing Guoneng Battery Technology Co., Ltd., with a total investment of 1.1 billion yuan.
For this round of capacity expansion, some industry insiders told Battery Network that the overall overcapacity of power batteries in 2025, but high-quality capacity has been in a state of shortage, and the overall supply is expected to exceed demand after 2025.
"the battery new energy industry has undergone a deep reshuffle in the last round, and the current investment and production expansion is mainly concentrated in the head enterprises." Yu Qingjiao, secretary-general of the Zhongguancun New Battery Technology Innovation Alliance and chairman of the Battery 100 Association, said a few days ago that the new power of power batteries is growing rapidly, the speed of self-produced batteries by multinational car giants is increasing, and second-and third-tier brands are also accelerating to catch up with first-tier enterprises, and the global competition pattern of power batteries may usher in great variables in the future.
Product and technological innovation
The battery litigation cases of LG and SK provide a mirror for the industry, and battery companies pay more and more attention to technology research and development and patents.
In terms of R & D expenses, among the 183 lithium battery concept stocks in Shanghai and Shenzhen, including battery network statistics, 150 increased in the first quarter of 2021, of which 40 more than doubled, 33 spent more than 100 million yuan, and 125 achieved growth in 2020. 5 of them more than doubled, and 13 spent more than 1 billion yuan.
Among the 27 listed companies involved in lithium battery manufacturing, 24 grew in the first quarter of 2021. Seven, including BYD, Ningde Times, Xinwanda, Tianneng shares, Yiwei Lithium Energy, Hengdian East Magnetic, Funeng Technology, etc., spent more than 100 million yuan on research and development. In 2020, 19 companies also achieved growth, and four companies, including BYD (7.465 billion yuan), Ningde era (3.57 billion yuan), Xinwanda (1.806 billion yuan) and Tianneng shares (1.242 billion yuan), spent more than 1 billion yuan on research and development.
For example, BYD released its quarterly report on April 29, showing that its R & D spending reached 1.217 billion yuan in the first quarter of this year, a sharp increase of 60.89% compared with the same period last year. The company's R & D expenditure reached 7.465 billion yuan last year, an increase of 32.61% over the same period last year.
According to the annual report released by Ningde Times on April 28, the company's R & D expenditure in 2020 was 3.57 billion yuan, an increase of 19.29 percent over the same period last year, accounting for 7.09 percent of operating revenue. On the same day, Ningde Times also signed a "cross-technology license agreement" with ATL to carry out cross-technology licenses for their respective development or acquisition of lithium-ion battery-related technologies. Prior to this, the company has set up a 21C innovation laboratory for R & D forward-looking layout to promote the research and promotion of the next generation technology.
The giant of the energy storage track takes the lead.
In addition, battery companies are strengthening the research and production of special batteries for energy storage. BYD, Ningde era, Penghui Energy, Yiwei Lithium Energy and many other listed companies have a layout in the field of energy storage.
BYD has been in the field of battery energy storage for 13 years and currently has more global sales than 1.7GWh. On April 12 this year, the unveiling ceremony of China Resources-BYD Power Energy Storage Joint Laboratory was successfully held at BYD global headquarters in Shenzhen.
In the Ningde era, due to the gradual landing of the previous energy storage market, the sales revenue of the energy storage system was 1.943 billion yuan in 2020, an increase of 218.56% over the same period last year.
Penghui Energy also said in its annual report that last year, energy storage business revenue continued to grow compared with the same period last year, and at the end of May 2020, it won the bid for "intensive e-commerce procurement project of lithium iron phosphate battery for backup power in China Tower in 2020" and developed some other high-quality customers.
Last year, Yiwei Lithium Energy successfully won a number of key projects of major customers in the field of 5G communication energy storage and wind energy storage.
According to data from EVTank, China Battery Industry Research Institute and Ivy Economic Research Institute, the global shipment of lithium batteries for energy storage was 28.5 GWH in 2020, an increase of 35.8% over the same period last year. Among them, in 2020, China shipped 14.2 GWH lithium batteries for energy storage, including communication base station energy storage, household energy storage and power system energy storage, an increase of 65.1% over the same period last year, much higher than the global growth rate. It is predicted that by 2025, the shipment of lithium batteries for energy storage in China will reach 60GWhh, with a compound growth rate of more than 33% in five years.
On April 21, the National Energy Administration and the National Development and Reform Commission jointly issued the guidance on accelerating the Development of New Energy Storage (draft for soliciting opinions) (hereinafter referred to as the "opinion draft"). The "opinion draft" makes it clear that by 2025, the new type of energy storage will be transformed from the initial stage of commercialization to large-scale development, and considerable progress has been made in terms of low cost, high reliability and long life. The installed scale of the new type of energy storage has reached more than 30 million kilowatts. The new type of energy storage plays a significant role in promoting carbon peak carbon neutralization in the energy field. By 2030, the comprehensive market-oriented development of the new type of energy storage will be realized, and the installed scale of the new type of energy storage will basically meet the corresponding needs of the new power system, and it will become one of the key supports for carbon peak and carbon neutralization in the energy field.
However, a number of recent fire and explosion accidents in energy storage power stations at home and abroad have sounded the safety alarm of the energy storage industry.
The "opinion draft" also specifically points out that we should strengthen the prevention of security risks. Supervise and urge local governments to clarify the main body of safety responsibility in each link of the new energy storage industry chain and strengthen fire safety management. Define the new energy storage grid-connected operation standards, strengthen the on-line monitoring of components and system operation status, and effectively improve the level of safe operation.
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