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Benefiting from the strong demand of the new energy automobile industry, the company's operating income is growing rapidly. The annual operating income of Rongbai Technology in 2016-17-18 was 8.918.8 / 3.04 billion yuan, with a compound average annual growth rate of 85.4%, and the annual net profit in 2016-17-18 was 0.060.27 / 210 million yuan, with a compound average annual growth rate of 516%. Revenue and net profit increased significantly. In 2016-17-18, the annual gross profit margin was 12.1% 14.8% and 16.6% respectively, showing a gradual upward trend.
Figure: composition of revenue from the company's main business
Industry: the rapid development of new energy automobile industry brings opportunities
The new energy vehicle industry has maintained strong growth. As a strategic emerging industry in China's 13th five-year Plan, the new energy automobile industry is the strategic direction firmly supported by the state. With the support of the national industrial policy, the new energy vehicle products are constantly enriched and the supporting facilities are constantly improved. According to CAAC statistics, China's new energy vehicle sales reached an average annual compound growth rate of 113.7% from 2011 to 2017. In 2018, the production and sales of new energy vehicles in China completed 1.27 million and 1.256 million respectively, an increase of 59.9 and 61.7 percent over the same period last year, ranking first in the world for many years in a row. SMM believes that with the promotion of the global "electrification" background, with the continuous improvement of China's policies in the field of new energy vehicles, there is a huge space for the growth of new energy vehicles. SMM expects China's new energy vehicle production to reach 2.86 million by 2021, with a compound growth rate of 40.7 per cent from 2016 to 2021.
High nickel ternary is the main development direction in the future. The cost and performance of power battery are increasing. High nickel ternary has the advantages of high energy density, long range and low cobalt content, which is the main direction of application in new energy vehicles in the future. At present, due to the bottleneck of high nickel ternary technology, battery stability and safety performance need to be solved urgently. SMM estimates that with the increase of the cost reduction pressure of enterprises after the subsidy, and the future new energy vehicles are mainly A-class vehicles, the application proportion of high nickel will continue to increase. In the short term, 6 series ternary materials will be used as transitional products. In 2021, the proportion of high nickel in Chinese power batteries will reach 30.6%. Between 2018 and 2021, China's demand for high nickel batteries will increase from 6700 tons to 42700 tons, with an annual compound growth rate of 85.4 per cent.
Company profile: Ningbo Rongbai New Energy Technology Co., Ltd. is a high-tech new energy materials enterprise controlled by Beijing Rongbai Investment Holdings Co., Ltd., is a multinational group company engaged in specialized R & D and management of lithium battery cathode materials, which was reorganized and established in September 2014. it is jointly built by two teams of China and South Korea, both of which have more than 20 years of successful entrepreneurial experience in the lithium cathode materials industry. Its members are Hubei Rongbai Lithium Electric Materials Co., Ltd., Guizhou Rongbai Lithium Electric Materials Co., Ltd., Beijing Rongbaixin Energy Technology Co., Ltd., Ningbo Rongbaili Electric Trading Co., Ltd., JS Co., Ltd., Korea EMT Co., Ltd., six holding subsidiaries, joint venture Korea TMR Co., Ltd.
As a national high-tech enterprise, Rong Bai Technology has always paid attention to product research and development and scientific and technological innovation, and has reserved a number of research product echelons with broad market prospects to provide a strong guarantee for the development of follow-up business. The company was selected into the list of the Best Enterprises in the Core Competitiveness Industry in 2017, and ranked among the top 50 most valuable enterprises in China in 2018. The company was shortlisted for the China "Unicorn" list jointly released by the Torch Center of the Ministry of Science and Technology and the Great Wall Strategic Consulting.
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