The leading intelligent deep binding Ningde era has accumulated more than 4.5 billion orders for lithium power equipment this year.

On the evening of May 31st, pilot Intelligence (300450) announced that the company and its wholly-owned subsidiary Titan New Power had recently received notice of winning the bid from its main customer, Ningde Times and its holding subsidiary. The winning project is lithium battery production equipment. From January 1, 2021 to the date of disclosure of this announcement, pilot Intelligence and Titan New Power received a total of 4.547 billion yuan (excluding tax) from Ningde Times and its holding subsidiaries.

Pilot Intelligence said that winning the bid is conducive to the business expansion of the company and its subsidiaries in the field of new energy batteries, and improve the company's revenue scale and profitability.

It is understood that the pilot intelligent business covers eight major areas, such as lithium electricity, photovoltaic, 3C, intelligent logistics, automobile intelligent production line, fuel cell, laser, machine vision, etc., and all kinds of business are developing rapidly, such as signing a contract with BMW to provide automobile PACK intelligent production line, signing an order with Waaree for 3GW series welding equipment, and creating the industry's first digital TOPCon high-efficiency photovoltaic cell whole-line intelligent factory for Suntech. At the same time, CATL will also cooperate with the company's intelligent logistics, automobile intelligent production line and other business development.

In 2020, the leading intelligence realized business income of 5.858 billion yuan, an increase of 25.07% over the same period last year, and the income of lithium battery production equipment accounted for 55.27%; the net profit belonging to shareholders of listed companies was 768 million yuan, an increase of 0.25% over the same period last year. In the first quarter of this year, the company achieved an operating income of 1.207 billion yuan, an increase of 39.32% over the same period last year, and a net profit of 201 million yuan, an increase of 112.97% over the same period last year.

Battery Network noted that in September 2020, the pilot Intelligent announcement will increase the plan to raise 2.5 billion yuan, and Ningde Times will subscribe for all the shares of this issue and become a long-term strategic investor of the company. On April 28, 2021, the increase of the pilot Intelligence announcement was completed, which was calculated on the basis of the total share capital on December 31, 2020. After the completion of the issue, Ningde era held 7.10% of the total share capital after the issuance of the pilot Intelligence. And the shares cannot be transferred within three years from the date of listing, and the two are deeply bound for a long time.

Soochow Securities Research News shows that through this strategic investment, the binding between the leading intelligence and the business of the Ningde era will be further deepened, and the leading intelligence expects this strategic cooperation to increase the company's income by 24.74 billion yuan and profits by 3.88 billion yuan in the next three years.

At present, the total capacity planning of the seven lithium battery production bases in Ningde era is about 600GW, with a new capacity of 535GW and a corresponding equipment investment of 114.5 billion yuan. With the funds raised in the Ningde era, a number of equipment manufacturers have won large orders in the Ningde era one after another since the second half of 2020, with a total amount of 11.8 billion yuan (all converted into tax prices). Soochow Securities judged that as the Ningde era power battery entered the peak of production expansion, the new expansion projects announced in February 2021 will be tendered in 2021-2022, and the scarcity of leading equipment vendors will gradually appear. At that time, the leading intelligence of the core equipment business bound to the Ningde era will gradually show the scarcity valuation premium.