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[SMM special topic] lead-acid battery enterprises have different performance in the first half of the year. The dominant position will still be there in the future.
Sep 1,2020 14:58CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM9: in the first half of 2020, due to the impact of novel coronavirus's epidemic, the automotive industry was badly hit, resulting in a certain weakening of lead battery demand and a drag on the performance of storage enterprises. for example, Lishi International's operating income in the first half of the year was 3.684 billion yuan, down 7.1 percent from the same period last year, and its net profit was 25.16 million yuan, down more than 70 percent from the same period last year. Xiongtao shares' net profit belonging to shareholders of listed companies in the first half of the year was 31 million yuan, down more than 60 percent from the same period last year. But some lead-acid battery companies are still doing well in the countercurrent, such as Tian Neng Power, one of China's largest suppliers of power batteries for electric vehicles, whose first-half net profit rose 45.57% from a year earlier.

Celestial energy power

During the reporting period, Tianneng Power realized sales revenue of about 22.635 billion yuan, an increase of 14.26% over the same period last year, and a net profit of about 860 million yuan, an increase of 45.57% over the same period last year. Among them, the sales revenue of high-end environmentally friendly batteries is about 11.641 billion yuan.

Tianneng Power has formed a product system dominated by lead battery and supplemented by lithium battery, which covers power, starting and stopping, energy storage and so on. Among them, lead-acid battery has a history of more than 160 years, with the characteristics of high safety, good resource reuse, high performance-to-price ratio, mature technology, excellent high and low temperature performance, and obvious market competitive advantage. Therefore, in the global market, lead battery occupies a dominant position in secondary batteries, and it is also the main battery for vehicles and equipment such as electric light vehicles, electric special vehicles and starting and stopping vehicles at present. The overall market demand will continue to grow steadily.

In the future, the application field of lead-acid battery will be continuously enriched and expanded, and the technology will continue to develop to high specific energy, high performance-to-price ratio and high safety. At the same time, with the in-depth application of 5G communication technology, lead battery will also move forward in the direction of intelligent, such as identifiable traceability, remote control, Internet of things and so on.

Nandu power supply

During the reporting period, Nandu Power supply provided products, systems and services with lead battery and lithium-ion battery as the core, facing the three major application fields of communications and data, intelligent energy storage and green travel. at the same time, build "lead battery cycle industry chain" and "lithium battery cycle industry chain" two major industrial closed-loop. During the reporting period, Nandu Power achieved an operating income of 4.109 billion yuan, an increase of 3.18% over the same period last year, and a net profit of 303 million yuan belonging to shareholders of listed companies, an increase of 20.27% over the same period last year.

The main reasons for the year-on-year changes in the company's operating income and operating results are as follows: the demand for the company's 5G and data core backup power supply has increased significantly, the shipments of communication backup power products have increased compared with the same period last year, and the gross profit margin has increased. Business contribution increased compared with the same period last year; shipments of civil power products increased compared with the same period last year, and the performance contribution remained basically stable; Affected by the "COVID-19" epidemic and the decline in lead prices, the shipments of recycled lead products decreased compared with the same period last year, the gross profit margin of the products decreased, and the business contribution decreased compared with the same period last year; because Anhui Huabei Renewable Resources Technology Co., Ltd. failed to fulfill its performance commitments, compensation revenue increased significantly compared with the same period last year.

Camel shares

During the reporting period, the company achieved operating income of 4.066 billion yuan, down 6.1% from the same period last year, which was affected by factors such as the decline in the average price of lead, the adjustment of the company's product sales strategy and the decline in external sales of recycled lead in the first half of the year. The net profit attributed to shareholders of listed companies was 244 million yuan, down 20.40% from the same period last year. The decline in net profit was mainly due to the amortization of fixed costs and the reduction of non-recurrent income during the shutdown period of the epidemic.

During the reporting period, the company achieved remarkable results in the development of new projects. The share of Audi, SAIC GM, Kia and other supporting projects increased, and the early development projects such as Honda and Mazda were successfully introduced into mass production. Affected by these positive factors, under the circumstances of novel coronavirus's epidemic situation and the decline in automobile production and sales, the sales volume of the mainframe supporting market increased by about 1% over the same period last year. The overall supporting market share of the company increased to 48% in the first half of 2020.

Lishi International

During the reporting period, the company's income in the first half of 2020 was 3.684 billion yuan, down 7.1% from the same period last year, and net profit was 25.16 million yuan, down 70.8% from the same period last year. The start-up battery business was the second largest contributor to the Group's revenue, accounting for 28.5% of the total sales during the period. During the reporting period, the sales revenue was RMB 1.05 billion, an increase of 2.5% over the same period last year.

Xiongtao shares

During the reporting period, the company's operating income was 1.055 billion yuan, down 22.39% from the same period last year; the net profit belonging to the owner of the parent company was 31.4864 million yuan, down 62.35% from the same period. In the first quarter, the company took a variety of measures to deal with the impact of novel coronavirus's epidemic situation and actively resumed work and production. However, since the end of March 2020, the overseas epidemic has broken out rapidly, exceeding the company's management expectations. The intensification of the overseas epidemic has seriously affected the business operation of the company's overseas customers, and the shutdown of downstream customers has affected the company's contract signing and delivery. With the gradual resumption of production and logistics in the second quarter and the gradual recovery of social life, the company has actively organized production, improved after-sales service, increased product research and development, and order sales have improved month by month.

Shengyang co., Ltd.

During the reporting period, the company achieved operating income of 698 million yuan, down 21.66% from the same period last year; the net profit attributed to shareholders of listed companies was 15.7893 million yuan, an increase of 11.87% over the same period last year. The main reason is that during the reporting period, due to the decrease in market demand due to novel coronavirus's epidemic situation, the company's operating income decreased; at the same time, due to stable prices of major raw materials, higher exchange rate, strengthening accounts receivable management and inventory management, strengthening cost control and other factors, the company's net profit increased year-on-year.

At present, the company's main products include lithium-ion batteries and systems, lead-acid batteries and systems, lead-carbon batteries, pure lead batteries, new energy system integration products and services, etc.

Generally speaking, although the performance of some lead-acid battery enterprises is not good, with the continuous introduction of policies to stimulate automobile consumption and the acceleration of the pace of resumption of business and market by the main body of the market, the consumption of residents going out has increased in an orderly manner, and the market vitality has been gradually improved. market sales continue to improve. In this context, automobile production and sales have gradually picked up and maintained a good running momentum. According to data, domestic automobile production in July was 2.201 million, an increase of 21.9% over the same period last year. In terms of car sales, car sales in July were 2.112 million, up 16.4 per cent from a year earlier. With the end of the epidemic, the domestic lead battery industry is also on the right track, the follow-up enterprise performance may show a pick-up trend as a whole.

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