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Ningde era third quarter net profit down 7.20% from the same period last year Cooperation will continue to bring potential benefits to revenue
Oct 28,2019 11:16CST
translation
Source:SMM
Ningde Times recently released the third quarter report of 2019, the third quarter operating income of Ningde era 12.592 billion yuan, up 28.80% from the same period last year, and the net profit attributable to shareholders of listed companies was 1.362 billion yuan, down 7.20% from the same period last year. In the first three quarters of 2019, the operating income of Ningde era was 32.856 billion yuan, an increase of 71.70% over the same period last year, and the net profit attributable to shareholders of listed companies was 3.464 billion yuan, an increase of 45.65% over the same period last year.
The content below was translated by Tencent automatically for reference.

SMM10, March 28: Ningde Times recently released the third quarter of 2019 report, the third quarter Ningde era operating income 12.592 billion yuan, year-on-year increase of 28.80%; the net profit attributable to shareholders of listed companies is 1.362 billion yuan, down 7.20% from the same period last year.

In the first three quarters of 2019, the operating income of Ningde era was 32.856 billion yuan, an increase of 71.70% over the same period last year, and the net profit attributable to shareholders of listed companies was 3.464 billion yuan, an increase of 45.65% over the same period last year.

From the Ningde era announced that the third quarter Ningde era revenue 12.592 billion yuan, year-on-year growth of 28.80%, the rapid growth of revenue, obviously there is a continuous expansion of the market, and in the third quarter Ningde era also signed a lot of cooperation and large orders, although these cooperation will not bring huge revenue to the Ningde era in the short term, but in the long run these cooperation is part of the determined future revenue growth.

A Chronicle of Cooperation in the third quarter of the Ningde era

On the evening of July 16, Costa announced that in order to further promote the development and layout of the core business of the company's energy storage industry chain, the company cooperated with Ningde Times (300750) to set up Ningde Times Cosda Technology Co., Ltd., to develop, produce and sell energy storage system PCS, special energy storage PACK, charging pile and "light storage and charging" integrated products. It is reported that the project company has a registered capital of Rmb200m, 51 per cent owned by Ningde Times with 102 million yuan and 49 per cent owned by the company with a contribution of 98 million yuan.

Recently, Ningde Times New Energy Technology Co., Ltd. (hereinafter referred to as "Ningde Times") and Toyota Motor Company ("Toyota") have established a comprehensive partnership in the stable supply and development and evolution of (NEV) power batteries for new energy vehicles. In addition, the two sides began to conduct extensive discussions in many fields, such as the development of new technologies for batteries, as well as battery recycling.

July 24 afternoon news, according to the US electric car news website Electrek reported that Indonesian officials revealed that Tesla, Ningde era (CATL) and LG are considering building battery factories in Indonesia.

On August 26th, Ningde Times New Energy Technology Co., Ltd. (hereinafter referred to as "Ningde Times" or "Company") and Dongguan Yi'an Technology Co., Ltd. (hereinafter referred to as "Yi'an Technology"), Sanxiang New Materials Co., Ltd. (hereinafter referred to as "Sanxiang New Materials"), Jiangsu Wanshun Mechanical and Electrical Group Co., Ltd. (hereinafter referred to as "Wanshun Group") has signed the Quadripartite Cooperative Investment Framework Agreement for magnesium Alloy Materials Project in Shouning County, Ningde City. The parties agree in principle to invest in the establishment of a joint venture company to carry out the business of magnesium alloy materials. Ningde Times, Yi'an Science and Technology, Sanxiang Xincai and Wanshun Group intend to co-invest in 25%: 30%: 25%: 20% equity ratio. The total investment of magnesium alloy project is 2 billion yuan.

On September 3, Ningde Times announced that the company intends to jointly contribute RMB 3.6 billion yuan with its holding subsidiary, Guangdong Bangpu Circular Technology Co., Ltd., to set up Ningbo Bonpu Times New Energy Co., Ltd., engaged in the investment and management of cathode materials and related resources. The announcement shows that the scope of business of the joint venture company is to invest in new energy and new materials industry; to sell battery materials, nickel, cobalt and other related materials; to develop, consult and transfer technology; and to operate and act as an agent for the import and export of all kinds of commodities and technologies. Of this total, Ningde era contributed 1.764 billion yuan, holding 49 percent of the shares, and Guangdong Bangpu contributed 1.836 billion yuan, holding 51 percent of the shares.

On September 4, Ningde Times issued a notice saying that in order to ensure the supply of upstream lithium resources, it plans to invest 260 million yuan in Pilbara.

On September 5, Ningde Times New Energy Technology Co., Ltd. and Bosch Group formally established a long-term strategic partnership. The Ningde era will provide a reliable power core for Bosch 48V power battery systems around the world.

On September 18, Ningde Times New Energy Technology Co., Ltd. (Ningde Times) officially announced that it had signed a global power battery procurement agreement with Daimlerka bus Company to provide reliable lithium power for its electric series trucks. Under the agreement, Ningde Times will provide power batteries for several truck series launched by Daimlerka bus Company since 2021.

On September 25, Ningde Times New Energy Technology Co., Ltd. (hereinafter referred to as "Ningde Times") and Yibin Municipal Government signed a project investment agreement, the two sides will establish a comprehensive strategic partnership to build a new energy industry base in the west. According to the framework of the agreement, Ningde era plans to invest in the construction of power battery projects in Yibin, and gradually promote the construction of a complete new energy battery and upstream and downstream core industrial chain system, jointly build a new energy industry base in western China based on Sichuan, facing the southwest, radiating the whole country, and moving towards "Belt and Road Initiative".

On September 26, BAIC New Energy and Ningde era jointly created the CTP battery pack (Cell to Pack, module-free power battery bag) in BAIC New Energy headquarters-China Blue Valley officially released. According to officials, the battery package has an energy density of more than 200Wh/kg.

Since its listing more than a year ago, Ningde era has announced more than 10 foreign investment projects, with an investment amount of more than 50 billion yuan. It is worth mentioning that in many projects, "expand production capacity" has become the key word of the company's investment. The expansion of production capacity in the Ningde era may be caused by two reasons, one is the demand brought about by the electric vehicle market, and the other is to plan ahead of time. It may not take that much capacity now, but after a few years of surging demand, expansion seems to be left behind.

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