The financial Associated Press reporter learned from a number of people in the capital market that Zeng Yuqun, chairman of the board of directors, personally responded to a number of market concerns during the recent research activities of Contemporary Amperex Technology Co.Limited(300750) (300750. SZ). In addition to responding to the concerns of US sanctions, it also revealed that the company has sufficient supply guarantee to deal with the “rise in raw material prices in the short term”.
Specifically, in terms of US sanctions concerns, “As the experts said last week, the only thing that depends on the United States now is the chip in BMS, but it is enough to make it not higher than 28nm. At present, domestic alternative technology is available. Ningde will enter the American market and is talking about cooperation with American car enterprises and energy storage customers (such as joint venture plant construction) , it is ideal to build a factory in Mexico / Canada; There are still some difficulties in how to move China’s extreme manufacturing overseas. ” The survey minutes mentioned.
Previously, Contemporary Amperex Technology Co.Limited(300750) energy storage battery has entered the US market. According to the research of Aijian securities, in April 2020, powin energy, an American energy storage supplier, launched three new energy storage products stack225, stack230 and stack230p. The three batteries all use Contemporary Amperex Technology Co.Limited(300750) lithium iron phosphate batteries.
In terms of technology R & D, “Ningde’s new technology layout is not limited to the existing direction of the industry, but also some leading chemical material innovation. The basis of R & D innovation is the company’s large-scale data collection and high computing power computing platform; this is not available to second-line players.” The research summary mentioned.
On the customer side, the survey minutes said, “There will be other players who rely on the price to grab the market, but Ningde must have the lowest cost and the highest supply reliability. Ningde believes that OEMs should not bear the risk of supply chain fluctuation for a little discount when making the strategy of electric transformation. For car enterprises with a sales volume of more than 1 million vehicles, it is a normal choice to introduce multiple suppliers.”
“Quite true.” A former Contemporary Amperex Technology Co.Limited(300750) technician told the financial Associated Press, “it is also a fact that only Ningde can do these two things.”
According to the research of Soochow Securities Co.Ltd(601555) , Contemporary Amperex Technology Co.Limited(300750) 2021q4 performance forecast, the median net profit attributable to the parent increased by 130% in a ring, which greatly exceeded the market expectation. Under the condition of accelerated depreciation, the company still has super profitability, not only from locking raw materials in advance and having a certain low-cost raw material inventory, but also from super strong supply chain management ability, large-scale production and continuous technological progress.
In 2021, the company’s output reached 150-160gwh, with a year-on-year increase of 160% +, and the production efficiency of the new production lines in Ningde and Liyang and the new base in Sichuan increased significantly. At the same time, the proportion of high nickel ternary positive electrode has increased significantly, the second generation iron lithium battery has increased rapidly, and the CTP process has been applied on a large scale, with remarkable cost reduction effect.
In terms of power exchange, “We want to strive for a market with a relatively low penetration rate of 80000-120000 electric vehicles – the car price without batteries can reach 70000, the monthly battery rental cost is similar to that of oil, and the power change speed is similar to that of refueling. Ningde can own battery assets – give full play to its technical advantages of ‘long cycle life’ of batteries through business model innovation, and further promote battery recycling. There is more than one manufacturing Enterprises can also build a new energy service platform and publicize Ningde’s brand and quality advantages to consumers through this channel. ” The survey minutes said.
On January 18 this year, Contemporary Amperex Technology Co.Limited(300750) time electric service, a wholly-owned subsidiary, released the power exchange service brand evogo and the overall solution of combined power exchange. The financial Associated Press reporter learned that the overall solution of combined power exchange is composed of three products: “power exchange block, quick exchange station and app”.
In this regard, Zhang Xiang, a researcher at the automotive industry innovation research center of Northern University of technology, analyzed to the financial Associated Press, “for some auto enterprises with poor sales, through the power exchange business of Contemporary Amperex Technology Co.Limited(300750) , they can reduce their own manufacturing costs and simplify the manufacturing process. The ‘flow effect’ of Contemporary Amperex Technology Co.Limited(300750) also helps to improve the sales volume of such auto enterprises.”
In terms of lithium price rise, the survey minutes said, “Ningde has sufficient supply guarantee, but there is no way to increase the price of raw materials in the short term. In the long term, the new production capacity will be released in 1.5-2 years; besides locking in upstream resources, Ningde has also arranged mining in Sichuan (as a strategic reserve) In addition, the proportion of lithium metal recovery has also increased significantly. Ningde not only recovers nickel cobalt lithium, but also plans to recover LFP, negative graphite and lithium in 6F. “
It is worth noting that in the 2020 annual report, Contemporary Amperex Technology Co.Limited(300750) defined three strategic development directions: fixed fossil energy substitution with renewable energy and energy storage as the core, mobile fossil energy substitution with power battery as the core, and application scenarios with electrification + intelligence as the core.
Tianyancha information shows that Yichun times new energy resources Co., Ltd. (hereinafter referred to as Yichun times resources) was incorporated on November 23, 2021. Its legal representative is Jiang Li, with a registered capital of 1 billion yuan and a wholly-owned subsidiary of Contemporary Amperex Technology Co.Limited(300750) .
The financial Associated Press reporter noted that in the business scope of Yichun era resources, the licensed projects include mining of mineral resources (non coal mines), and the general projects include beneficiation, comprehensive development, utilization and processing of lithium resources, as well as the export business of lithium series products.
In addition, on September 13, 2021, Contemporary Amperex Technology Co.Limited(300750) announced that it plans to invest in the construction of Contemporary Amperex Technology Co.Limited(300750) new lithium battery production and manufacturing base (Yichun) project in Yichun City, with a total investment of no more than 13.5 billion yuan. On the same day, Contemporary Amperex Technology Co.Limited(300750) signed three cooperation agreements in Yichun, Yichun mining company is one of the signatories.
In the European market, the research summary said, “The last round of centralized bidding was 18-19 years ago, which locked the supply pattern 25 years ago; Ningde has made great efforts to develop high nickel in the past few years to prepare for a new round of bidding in 22 years. This round basically locked the market share of 25-30 years, and Ningde is very confident; the next round of technology trend and market pattern after 30 years are not very clear at present.”
In the morning of February 15, the relevant person in charge of Contemporary Amperex Technology Co.Limited(300750) told the associated press, “there will be an announcement today.”
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