After the sharp drop in the first week of the opening of the year of the tiger, the stock price of Contemporary Amperex Technology Co.Limited(300750) urgently refuted the rumor at the weekend, and the stock price recovered strongly on Monday. On February 14, Contemporary Amperex Technology Co.Limited(300750) closed at 508 yuan / share, up 3.68%.
The previous week, a series of market rumors had an impact on the stock price trend of Contemporary Amperex Technology Co.Limited(300750) after the opening of the year of the tiger. In the five trading days, the stock price of Contemporary Amperex Technology Co.Limited(300750) fell in four trading days, with a cumulative decline of 17.32% in a single week.
On February 13, Contemporary Amperex Technology Co.Limited(300750) issued a statement saying that recently, a series of malicious rumors such as Contemporary Amperex Technology Co.Limited(300750) being sanctioned by the United States, being excluded from the gem weight index and collapsing with Tesla have emerged on the network platform, causing misunderstanding and misinterpretation in the market and affecting the corporate reputation. The rumors are groundless and have a bad nature. Contemporary Amperex Technology Co.Limited(300750) the case was reported to the public security organ on February 12, and the rumor mongers will be investigated for legal responsibility.
On the same day, the relevant person in charge of Tesla also said in an interview with Chinese media that ” Contemporary Amperex Technology Co.Limited(300750) talks with Tesla are not true.” On February 14, a person familiar with Contemporary Amperex Technology Co.Limited(300750) told the 21st Century Business Herald reporter: “both sides are satisfied with the cooperation between Contemporary Amperex Technology Co.Limited(300750) and Tesla in the past two years. The technology of Contemporary Amperex Technology Co.Limited(300750) lithium iron phosphate battery is leading in the industry, and stabilizing and maintaining the cooperative relationship with Contemporary Amperex Technology Co.Limited(300750) is equally important for Tesla to ensure the production of Shanghai factory.”
The strong response of Contemporary Amperex Technology Co.Limited(300750) boosted the confidence of the market to a certain extent.
In addition, although Wei Zhichao, chief economist of capital securities, said in a research report last week that Contemporary Amperex Technology Co.Limited(300750) still has 20% room for decline, more institutions continue to be optimistic about Contemporary Amperex Technology Co.Limited(300750) and give “buy” suggestions. On February 14, Soochow Securities Co.Ltd(601555) gave an ultra-high target price of 905.8 yuan in a research report.
the performance is expected and basically oriented to
Although the share price fluctuates after years, from the perspective of the overall development trend of the new energy vehicle industry, the market demand scale of the power battery industry and the scale development potential of Contemporary Amperex Technology Co.Limited(300750) , the growth rate of Contemporary Amperex Technology Co.Limited(300750) in the future is still worth looking forward to.
On January 27, Contemporary Amperex Technology Co.Limited(300750) (300750) issued the announcement of performance increase in 2021. Contemporary Amperex Technology Co.Limited(300750) it is estimated that the net profit in 2021 will be 14 billion yuan to 16.5 billion yuan, with a year-on-year increase of 150.75% to 195.52%.
According to the forecast announcement, combined with the financial report of the first three quarters of Contemporary Amperex Technology Co.Limited(300750) , the net profit of Contemporary Amperex Technology Co.Limited(300750) Q4 is expected to reach 6.249 billion yuan – 8.749 billion yuan. The net profit in a single quarter exceeded 6 billion yuan, Contemporary Amperex Technology Co.Limited(300750) showing strong gold absorption ability.
Contemporary Amperex Technology Co.Limited(300750) said that the performance growth was mainly due to the increase in the market penetration of new energy vehicles and energy storage in 2021, driving 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.
According to the data of China automotive power battery industry innovation alliance, in 2021, Contemporary Amperex Technology Co.Limited(300750) power battery loading volume was 80.51gwh, accounting for 52.1% of the market, and continued to rank first in the China Shipbuilding Industry Group Power Co.Ltd(600482) battery industry.
In terms of the global market, according to the data released by SNE research, a Korean market research institution, in 2021, Contemporary Amperex Technology Co.Limited(300750) won the champion of global battery installed capacity for the fifth consecutive year, with a global market share of 32.6%, while the market share of LG energy, the second, was 20.3%. The two leading enterprises are in a period of rapid growth, but Contemporary Amperex Technology Co.Limited(300750) is growing faster and its leading position in the industry is further highlighted.
Most securities companies are also optimistic about the development prospect of Contemporary Amperex Technology Co.Limited(300750) .
Citic Securities Company Limited(600030) believes that the fundamentals of Contemporary Amperex Technology Co.Limited(300750) are still strong and the leading position is expected to be maintained; Meanwhile, the global demand for power batteries is expected to rise sharply in 2022; In the field of technology, Contemporary Amperex Technology Co.Limited(300750) has successively released structural innovative technologies such as CTP, CTC and a + B, as well as new technical solutions such as sodium ion battery and power exchange, which will continue to lead the development of the industry.
Soochow Securities Co.Ltd(601555) also pointed out that the demand certainty is strong in 2022, Contemporary Amperex Technology Co.Limited(300750) share continues to rise, and the elasticity is much higher than that of overseas battery enterprises. Considering that 2022 is still a big year for global electric vehicle sales, and the superimposed energy storage continues to increase significantly, Soochow Securities Co.Ltd(601555) it is estimated that the global power + energy storage battery demand will be 700-800gwh in 2022, with a year-on-year increase of 70% +, and the overall shipment volume of Contemporary Amperex Technology Co.Limited(300750) is expected to reach 300gwh, including 50gwh of energy storage and 250gwh of power, which will continue to double, and the global installed market share will further increase to 35% +, The growth elasticity far exceeds that of overseas battery enterprises.
Soochow Securities Co.Ltd(601555) also pointed out that Ningde has a long-term cost advantage and strong profitability pressure resistance, and its profitability is expected to be maintained in 2022. Contemporary Amperex Technology Co.Limited(300750) 2021q4 performance forecast: the median net profit attributable to the parent company increased by 130%, which greatly exceeded the market expectation. Under the condition of accelerated depreciation, it still has strong profitability, not only from locking raw materials in advance and having a certain low-cost raw material inventory, but also from strong supply chain management ability, large-scale production and continuous technological progress.
second tier enterprises have a strong impact, and the leader also has hidden worries
Although the leading position of Contemporary Amperex Technology Co.Limited(300750) industry is still relatively stable, there are also hidden worries about development. With the development of power battery industry, Contemporary Amperex Technology Co.Limited(300750) disputes with competitors also occur from time to time.
On February 14, Contemporary Amperex Technology Co.Limited(300750) sued honeycomb energy, Baoding Yixin Consulting Service Co., Ltd. and Wuxi Tianhong Enterprise Management Consulting Co., Ltd. for unfair competition. From 2018 to 2019, nine Contemporary Amperex Technology Co.Limited(300750) employees joined Wuxi Tianhong and Baoding Yixin respectively after leaving their jobs, Provide services for Contemporary Amperex Technology Co.Limited(300750) competitor honeycomb energy. The case will be heard this month.
In response, Contemporary Amperex Technology Co.Limited(300750) relevant people told the 21st Century Business Herald reporter that the case was in legal proceedings and the company did not respond. Honeycomb energy responded that the company was actively preparing to respond to the lawsuit and believed that Ningde court would have a fair judgment.
In fact, Contemporary Amperex Technology Co.Limited(300750) as a leading enterprise in the industry, technology is in a leading position and holds a large number of patents. At the same time, it also attracts and trains a large number of cutting-edge talents in the industry.
It is worth noting that this is not the first time Contemporary Amperex Technology Co.Limited(300750) has “filed a lawsuit” with its competitors.
In January 2020, the intermediate people’s Court of Ningde City, Fujian Province accepted the case of Contemporary Amperex Technology Co.Limited(300750) suing Tafel for patent infringement of new energy; On July 21, 2021, Contemporary Amperex Technology Co.Limited(300750) sued AVIC lithium battery (now AVIC innovation) for patent infringement, which is suspected to cover all its products.
Tafel, China Innovation airlines and honeycomb energy are the second tier battery enterprises in China. According to the data of China automotive power battery industry innovation alliance, China Innovation airlines, honeycomb energy and Tafel new energy ranked third, sixth and seventh respectively in the China Shipbuilding Industry Group Power Co.Ltd(600482) battery market. Among them, China Innovation airlines and honeycomb energy are actively promoting IPO.
In fact, since 2021, more and more enterprises have begun to improve their new energy vehicle supply chain system. In the field of power batteries, many enterprises are actively cultivating two supplies and three supplies. For example, besides Contemporary Amperex Technology Co.Limited(300750) , Xiaopeng automobile has incorporated Eve Energy Co.Ltd(300014) and AVIC lithium battery into its own battery supply system. Recently, there are rumors that Xiaopeng automobile has reached cooperation with Sunwoda Electronic Co.Ltd(300207) . FAW previously established a battery joint venture with Contemporary Amperex Technology Co.Limited(300750) and registered a new joint venture with Byd Company Limited(002594) in January 2022. Volkswagen’s battery supply partners in China include Contemporary Amperex Technology Co.Limited(300750) , Gotion High-Tech Co.Ltd(002074) , A123, etc.
“Automobile enterprises all hope to have one supply and two supply, especially with mutual checks and balances and mutual substitutes on key parts. In case of the collapse of a large supplier, the second and third suppliers can immediately top it, and it also prevents a dominant company from creating a particularly large monopoly on the vehicle factory.” On January 11, Gong min, head of China Automotive Industry Research at UBS, said in an interview with 21st Century Business Herald.
In fact, several local second-line battery enterprises have their own technical routes. Among them, Gotion High-Tech Co.Ltd(002074) has stronger lithium iron phosphate technology. Volkswagen Group has become the largest shareholder of the company, Gotion High-Tech Co.Ltd(002074) will enter the battery supply system of Volkswagen Group in the future. Farasis Energy (Gan Zhou) Co.Ltd(688567) also reaped the investment of Daimler, the parent company of Mercedes Benz, and may enter the supply system of Mercedes Benz in the future. Relying on large enterprises is an important support for the future business development of the two companies.
Among several other second-line battery enterprises, China Innovation airlines and honeycomb energy, which have disputes with Contemporary Amperex Technology Co.Limited(300750) , also deserve attention.
In 2021, the loading volume of China Innovation Airlines was 9.05 GWH, with a year-on-year increase of 154.9%, and the market share reached 5.9%, ranking third in China. The main technical route of AVIC lithium battery is ternary battery, and the scale of lithium iron phosphate battery is small. However, since the technical route of AVIC lithium battery is very similar to Contemporary Amperex Technology Co.Limited(300750) , it is also the key target of Contemporary Amperex Technology Co.Limited(300750) . There is also a speculation in the industry that zhongchuangxin Airlines was sued by Contemporary Amperex Technology Co.Limited(300750) for patent issues, and the dispute between the two is also related to GAC AIAN’s shifting the focus of battery cooperation from Contemporary Amperex Technology Co.Limited(300750) to AVIC lithium battery.
In addition to the battery enterprises incubated with Geely and Dongfeng {6013}, there are also {6013} battery supply enterprises. Different from the view of the outside world that “Freddy battery = Byd Company Limited(002594) ” is often used, there is still a large separation between honeycomb energy and Great Wall Motor Company Limited(601633) , which is conducive to its development of customers in China.
Although the second-line battery enterprises are coming fiercely, the leading position of Contemporary Amperex Technology Co.Limited(300750) is still very stable.
Gong min believes that the 50% share of head enterprises (i.e. Contemporary Amperex Technology Co.Limited(300750) ) has been very stable in the past few years. Moreover, in this process, when it can’t take over, it gives some orders for relatively low-end and cheap models to some small enterprises. In this process, new car companies come in. At the beginning, they will give priority to the battery companies in the head. Gradually, some pay more attention to cost and cost performance. Some orders are transferred out, but the whole process is dynamic.
“We can always see that some orders may go out, but the overall share of giant enterprises looks more stable than expected.” Gong Min said.
