Hello everyone, it’s new year’s Eve tomorrow, but the capital market is not calm.
Contemporary Amperex Technology Co.Limited(300750) , Xiaopeng automobile
are the two giants going to break up?
Trillion Contemporary Amperex Technology Co.Limited(300750) is there really a crack?
On the 30th, according to Aiji micro, Xiaopeng automobile said in an institutional survey that the price increase of Contemporary Amperex Technology Co.Limited(300750) is too large. In order to cope with the pressure brought by the rising cost, it will gradually replace Contemporary Amperex Technology Co.Limited(300750) power battery with AVIC lithium battery in the future, and the iron lithium battery of Eve Energy Co.Ltd(300014) will continue to be used, mainly matching low configuration models.
Xiaopeng automobile also revealed that the soaring price of upstream power battery has led to the overall rise in the price of new energy automobile industry in 2022. Due to the resistance of users to the price rise, Xiaopeng automobile gradually allows users to accept the new price through two price adjustments in December 2021 and January 2022.
In addition, on January 29, some media reported that “Xiaopeng automobile, which previously took Contemporary Amperex Technology Co.Limited(300750) as the main supplier of power battery, has determined to use Sunwoda Electronic Co.Ltd(300207) 4C power battery in the medium and large SUV G9 released in November last year. Sunwoda Electronic Co.Ltd(300207) will be supplied by a certain version of G9, with a supply share of more than 50%.”
This is not the first time that Xiaopeng automobile has been announced that it will introduce a new power battery supplier. Previously, in December 2021, there were market rumors that Xiaopeng automobile planned to introduce AVIC (AVIC lithium battery). According to 35 krypton’s previous report, there was a dispute in the headquarters building of Contemporary Amperex Technology Co.Limited(300750) in the middle of 2021. The parties were Zeng Yuqun and he Xiaopeng – the founders of Contemporary Amperex Technology Co.Limited(300750) and Xiaopeng automobile respectively. At the most intense time, Zeng Yuqun even withdrew from the meeting room and calmed down for more than 10 minutes.
On January 30, in response to the recent market rumors that ” Sunwoda Electronic Co.Ltd(300207) will be supplied as a version of Xiaopeng G9″ and “will gradually replace Contemporary Amperex Technology Co.Limited(300750) with AVIC lithium battery”, Xiaopeng automobile official said, “Recently, the news that we want to transfer suppliers or have a supplier as our core battery supplier is very different from the facts. Xiaopeng automobile will always choose powerful suppliers such as Contemporary Amperex Technology Co.Limited(300750) to become our core partner.”
Contemporary Amperex Technology Co.Limited(300750) released the performance forecast on Thursday. It is expected that the net profit attributable to the parent company will be 14-16.5 billion yuan in 2021, with a year-on-year increase of 150.75% – 195.52%, far exceeding the market expectation. The net profit is the highest level since Contemporary Amperex Technology Co.Limited(300750) was listed in 2018.
the main reasons for the significant increase in performance in 2021 are: the increase in the market penetration of new energy vehicles and energy storage in 2021 has driven the growth of battery sales; The company has made progress in market development, released new production capacity and increased production and sales accordingly; The company strengthened cost control and reduced the proportion of expenses in revenue.
Contemporary Amperex Technology Co.Limited(300750) performed particularly well in the fourth quarter. The net profit in the fourth quarter of last year is expected to be 6.249-8.749 billion yuan, equivalent to the total net profit in the first three quarters, with a month on month increase of 91% – 167%.
Tianfeng Securities Co.Ltd(601162) pointed out that the price rise of upstream materials in the new energy battery industry has led to an increase in the cost of power batteries; The downstream new energy vehicle consumption is strong, and the price of the whole vehicle has begun to rise, and the power battery may be at a favorable price to the downstream; Contemporary Amperex Technology Co.Limited(300750) power battery may usher in a new incremental market after entering the Bureau for power replacement; New energy batteries may usher in a new round of price rise.
Changjiang Securities Company Limited(000783) said that the reasons for Contemporary Amperex Technology Co.Limited(300750) performance exceeding expectations may include: Sales Confirmation exceeding expectations, profitability exceeding expectations, and there is also room for profit release in R & D services and early impairment resale. Specifically:
(1) the sales volume is confirmed to be higher than expected. In the feedback of fixed increase in the early stage, it is disclosed that the output and sales volume in the first to third quarters of 2021 are 103.5gwh and 73.4gwh. Assuming that the output of Q4 is more than 50gwh, Q4 confirms that 60-70gwh is relatively easy to achieve. In particular, the high Maori energy storage, the official account of the previous period disclosed that in 2021, the storage capacity increased by 7 times that of 17GWh, while the first three quarters only recognized 8GWh, and Q4 energy storage accounted for about 15%.
(2) profitability exceeds expectations. In 2021, some orders of Contemporary Amperex Technology Co.Limited(300750) adopted the linkage of raw materials within a certain range, and the price rose in the second half of the year. The inventory at the end of Contemporary Amperex Technology Co.Limited(300750) 2021q3 was 35 billion, and the cash expenditure for purchasing goods in a single quarter of 2021q3 reached 29.8 billion. It is possible to obtain low-cost raw materials, and the cost is better than the market expectation.
(3) Contemporary Amperex Technology Co.Limited(300750) there is also room for profit release in terms of R & D services and early impairment write off.
