On the evening of January 27, Contemporary Amperex Technology Co.Limited(300750) released a performance forecast. It is expected to realize a net profit attributable to shareholders of listed companies (hereinafter referred to as "net profit") of 14 billion yuan to 16.5 billion yuan in 2021, with a year-on-year increase of 150.75% to 195.52%.
This is the best profitability of Contemporary Amperex Technology Co.Limited(300750) since its establishment, whether on an annual or quarterly basis. Some brokerage researchers commented for the first time that under the pressure of the sharp rise in the price of upstream materials, the performance of "ningwang" significantly exceeded expectations!
Source: company announcement
According to the introduction of Contemporary Amperex Technology Co.Limited(300750) , the market penetration of new energy vehicles and energy storage increased in 2021, driving the growth of battery sales. The company made progress in market development, released new production capacity, and increased production and sales accordingly. In addition, the company strengthened cost control and reduced the proportion of expenses in revenue.
It can be seen from the comparison of that the net profit of Contemporary Amperex Technology Co.Limited(300750) in the fourth quarter of 2021 almost equaled the total profit of the first three quarters of 2021.
According to the review announcement, Contemporary Amperex Technology Co.Limited(300750) the net profit in the first three quarters of 2021 was 7.751 billion yuan, a year-on-year increase of 130.90%. According to the conversion, the net profit of Contemporary Amperex Technology Co.Limited(300750) in the fourth quarter of 2021 is expected to be 6.29 billion yuan to 8.79 billion yuan.
Announcement of the Third Quarterly Report
Contemporary Amperex Technology Co.Limited(300750) is a leading new energy innovation technology company in the world. It focuses on the R & D, production and sales of new energy vehicle power battery system and energy storage system, and is committed to providing first-class solutions for global new energy applications. According to SNE research, from 2017 to 2020, the company's power battery usage ranked first in the world for four consecutive years, and continued to top the list from January to June 2021.
sales exceeded expectations
large increase in energy storage
Why can the performance of "ningwang" exceed expectations? According to the analysis of securities researchers, the first is that the sales volume is confirmed to be higher than expected, and the second is that the profitability is higher than expected. In addition, there is also profit release space in R & D services and early impairment resale.
In terms of sales confirmation, previously, Contemporary Amperex Technology Co.Limited(300750) disclosed in the fixed increase feedback document that the battery output and sales volume in the first to third quarters of 2021 were 103.5gwh and 73.4gwh. Assuming that the output in the fourth quarter of 2021 was more than 50gwh, the sales volume confirmed in the fourth quarter of 2021 may reach 60 to 70gwh.
in 2021, Contemporary Amperex Technology Co.Limited(300750) not only accounted for nearly 32% of the global market in the field of power batteries, but also broke out and won the leading position in the field of energy storage.
According to the analysis of the above-mentioned securities dealers, Contemporary Amperex Technology Co.Limited(300750) previously introduced that the company's energy storage increased seven times in 2021, that is, 17gwh, while it was confirmed that there was only 8gwh in the first three quarters of 2021, and the proportion of energy storage in the fourth quarter of 2021 may reach about 15%.
According to the previous announcement of Contemporary Amperex Technology Co.Limited(300750) , the company's energy storage system products include cells, modules / boxes and battery cabinets, which can be used in the fields of power generation, transmission and distribution and power consumption, including Cecep Solar Energy Co.Ltd(000591) or wind power generation, energy storage for industrial enterprises, energy storage in commercial buildings and data centers, energy storage charging power stations, backup batteries of communication base stations, household energy storage, etc.
Relevant business data of Contemporary Amperex Technology Co.Limited(300750) 2021 semi annual report
profitability exceeded expectations
According to the analysis of the aforementioned brokers, Contemporary Amperex Technology Co.Limited(300750) some orders in 2021 adopted raw material linkage within a certain range, which increased profits to a certain extent. In addition, the battery price rose in the second half of 2021, and Contemporary Amperex Technology Co.Limited(300750) the inventory reached 35 billion yuan at the end of the third quarter of 2021, and the cash expenditure of goods purchased in the third quarter of 2021 reached 29.8 billion yuan. It is possible to obtain low-cost raw materials, and then the cost is better than the market expectation.
Contemporary Amperex Technology Co.Limited(300750) third quarterly report data of 2021
In 2021, the hot power battery market led to a sharp rise in the prices of lithium carbonate and other raw materials upstream of the industrial chain, resulting in pressure on the profits of battery enterprises.
It is generally believed in the industry that Contemporary Amperex Technology Co.Limited(300750) , as the industry leader, still has stronger bargaining power for downstream vehicle manufacturers and upstream raw material manufacturers.
The demand of downstream vehicle manufacturers for batteries far exceeds the capacity of battery enterprises in the current market, adding weight to Contemporary Amperex Technology Co.Limited(300750) negotiations. Zeng Yuqun, chairman of Contemporary Amperex Technology Co.Limited(300750) said publicly earlier: "a commitment without money is not serious."
Contemporary Amperex Technology Co.Limited(300750) has also been raising funds to ensure the supply of upstream raw materials and control costs.
Recently, Contemporary Amperex Technology Co.Limited(300750) and Yongxing Special Materials Technology Co.Ltd(002756) signed a joint venture agreement. The two sides will establish a joint venture according to the agreement and invest in the construction of lithium carbonate project with the joint venture as the main body. The total investment of the project will not exceed 2.5 billion yuan. It is planned to build a project with an annual output of 50000 tons of lithium carbonate.
Contemporary Amperex Technology Co.Limited(300750) there are a large number of layouts upstream. On November 23, 2021, Contemporary Amperex Technology Co.Limited(300750) wholly-owned subsidiary Yichun times new energy resources Co., Ltd. was established. The legal representative is Jiang Li, with a registered capital of 1 billion yuan. Its business scope includes mining of mineral resources (non coal mines), research and development of new material technology, investment activities with its own funds, export business of lithium series products, etc.
building long-term competitiveness
"Verified the high outlook of the industry with the financial report!" Insiders said that the forecast performance of Contemporary Amperex Technology Co.Limited(300750) is much higher than expected, which also sends a signal to the outside world that the leading companies in the industrial chain have strong profitability, so they can look further and pay attention to the medium and long-term competitiveness of the company and the construction of industrial ecology.
At present, the innovation ability of "ningwang" is much stronger than its profitability. It is disclosed that as of June 30, 2021, Contemporary Amperex Technology Co.Limited(300750) has 7878 R & D technicians. Among them, 134 have doctoral degrees and 1524 have master's degrees. As of June 30, 2021, the company and its subsidiaries have 3357 domestic patents and 493 overseas patents, and 3379 domestic and overseas patents are being applied for.
At the same time, Contemporary Amperex Technology Co.Limited(300750) cooperates with the Institute of physics of the Chinese Academy of Sciences to establish a joint laboratory of clean energy, establish a cooperative R & D platform for collaborative innovation, and create a highland of industry university research joint innovation in the field of clean energy science and technology.
In terms of industrial chain integration, in October 2021, Contemporary Amperex Technology Co.Limited(300750) signed a strategic cooperation agreement with Guizhou provincial government in Guiyang.
Contemporary Amperex Technology Co.Limited(300750) said that in the future, the company will work with Guizhou Province to promote the local new energy industry to supplement, extend and strengthen the chain, give full play to the advantages of industrial leading enterprises in market, science and technology and talents, and jointly build a lithium battery whole industry chain system from lithium battery, upstream phosphorus and fluorine chemical industry and battery materials to downstream market application and battery recycling.
Contemporary Amperex Technology Co.Limited(300750) also entered the power exchange market. On January 18, 2022, Contemporary Amperex Technology Co.Limited(300750) company times electric service released the power exchange service brand evogo "Le hang power exchange". Contemporary Amperex Technology Co.Limited(300750) chairman Zeng Yuqun holds a piece of "chocolate", and the line is "have a piece?" The video was also swiped.
in addition, the profitability of Contemporary Amperex Technology Co.Limited(300750) is much higher than expected, which strongly confirms the high prospect of the new energy sector. in addition to ningwang, Tianqi Lithium Corporation(002466) , Wuxi Lead Intelligent Equipment Co.Ltd(300450) and a number of lithium battery industry chain companies recently issued performance pre hi announcements. If Tianqi Lithium Corporation(002466) it is estimated that the net profit attributable to the parent company will reach 1.8 billion yuan to 2.4 billion yuan in 2021, compared with a loss of 1.834 billion yuan in the same period of last year; Wuxi Lead Intelligent Equipment Co.Ltd(300450) it is expected to make a profit of 1.45 billion yuan to 1.65 billion yuan in 2021, with a year-on-year increase of 88.92% to 114.98%.
The above-mentioned securities dealers believe that in the first quarter of 2022, the high outlook of the new energy market continues, and it is expected that relevant companies will continue to maintain the trend of high profit growth.
