Recently, due to several market rumors, the share price of Contemporary Amperex Technology Co.Limited(300750) (300750), a leading power battery enterprise, fluctuated sharply.
On February 15, Contemporary Amperex Technology Co.Limited(300750) announced that on February 14, chairman Zeng Yuqun, Secretary of the board of directors and deputy general manager Jiang Li and chief financial officer Zheng Shu accepted the investigation of 50 investors, including Hillhouse capital, Hongshang capital, Tencent investment, Temasek and Sequoia Capital.
According to the announcement, Contemporary Amperex Technology Co.Limited(300750) responded to 20 questions that investors focused on, covering hot topics such as the layout of raw materials, the progress of energy storage and power exchange, whether to build a factory in the United States and how to treat the expansion of production by friends.
Contemporary Amperex Technology Co.Limited(300750) said that the expansion of friendly manufacturers does not mean that competition will increase. Only products with innovative material system and structural system are worth competition.
On February 15, Contemporary Amperex Technology Co.Limited(300750) closed at 527.00 yuan / share, up 3.74%, with the latest market value of 1.23 trillion yuan.
has more interaction with American customers, and localized production is still under consideration
On December 3 last year, Contemporary Amperex Technology Co.Limited(300750) set a price of 692 yuan / share, but in the past two months, Contemporary Amperex Technology Co.Limited(300750) share price retreated by nearly 30%. In the first week after the Spring Festival, the stock price of Contemporary Amperex Technology Co.Limited(300750) fell all the way, and the market value evaporated nearly 240 billion yuan.
According to market news, Contemporary Amperex Technology Co.Limited(300750) is seeking help from professional institutions in the United States to inquire about the possibility of being sanctioned by the United States.
In response to the above rumors, Contemporary Amperex Technology Co.Limited(300750) announced on February 13 that recently, a series of rumors about Contemporary Amperex Technology Co.Limited(300750) being sanctioned by the United States, being excluded from the gem weight index, and “collapse” with Tesla have emerged on the network platform, causing misunderstanding and misinterpretation in the market and affecting the corporate reputation. The company has officially reported the case to the public security organ and will investigate the legal responsibility of the rumor mongers according to law.
After the release of the rumor refutation statement, Contemporary Amperex Technology Co.Limited(300750) share price increased slightly, Citic Securities Company Limited(600030) , Soochow Securities Co.Ltd(601555) and other securities companies issued research reports to support and continue to be bullish.
When Contemporary Amperex Technology Co.Limited(300750) was surveyed by investors, it also mentioned the consideration of the U.S. market for many times. First of all, in terms of technology and key materials, Contemporary Amperex Technology Co.Limited(300750) revealed that at present, the company’s battery production process does not directly involve American materials, but some chips on BMS come from the United States. At present, the company is making localization.
At the market level, Contemporary Amperex Technology Co.Limited(300750) responded that the company has more interaction with American customers, including both new forces and traditional automobile enterprises. The two sides jointly discussed various possible supply and cooperation schemes and the possibility of localized production, but the specific situation needs to take into account the impact of factors such as worker training, efficiency and labor union on quality and cost.
At the same time, Contemporary Amperex Technology Co.Limited(300750) also revealed that for the energy storage sector, customers in the United States have expressed the hope of localized supply, but the company still needs to comprehensively consider factors such as power battery capacity, customer demand and production cost.
expanding production by friends does not mean increasing competition
According to the analysis of insiders, in addition to being sanctioned by US stocks, the rumor of collapse with Tesla is also one of the direct factors leading to the collapse of Contemporary Amperex Technology Co.Limited(300750) share price.
Previously, there was also market news that Xiaopeng automobile was trying to break away from the “bondage” of Contemporary Amperex Technology Co.Limited(300750) and planned to introduce other power battery manufacturers into the supply chain. Therefore, the senior executives of the two companies had a dispute.
Subsequently, Xiaopeng automobile issued a statement to refute the rumor and said that it would always choose Contemporary Amperex Technology Co.Limited(300750) as its core partner.
Although the protagonist of the incident has personally refuted the rumor, rumors about the collective “escape” Contemporary Amperex Technology Co.Limited(300750) battery supply of car enterprises have been rampant. Now the news that Tesla and Contemporary Amperex Technology Co.Limited(300750) broke down on the Internet has staged the previous “drama” again.
According to the judgment of the above insiders, the reason why the car companies have repeatedly broken away from the Contemporary Amperex Technology Co.Limited(300750) supply system is closely related to the white hot competition in the current power battery industry. Almost every power battery company is eager to cut the cake of the market.
According to the data released by China automotive power battery industry innovation alliance, in the whole year of 2021, China Shipbuilding Industry Group Power Co.Ltd(600482) battery loading volume accumulated 154.5gwh, a year-on-year increase of 142.8%, of which Contemporary Amperex Technology Co.Limited(300750) loading volume reached 80.51gwh, accounting for 52.1%, ranking first, Byd Company Limited(002594) , China Innovation airlines, Gotion High-Tech Co.Ltd(002074) , LG new energy and honeycomb energy followed, of which Byd Company Limited(002594) loading volume reached 25.06gwh, The market share is lower than Contemporary Amperex Technology Co.Limited(300750) 35.9 percentage points.
In the international market, the global loading volume of Contemporary Amperex Technology Co.Limited(300750) reached 96.7gwh in 2021, with a market share of 32.6%. LG new energy, its strongest competitor, installed 60.2gwh of power batteries last year, with a market share of 20.3%. At the same time, LG new energy has also conducted an IPO and is about to compete with Contemporary Amperex Technology Co.Limited(300750) in the global market.
In order to seize the market share as soon as possible, Contemporary Amperex Technology Co.Limited(300750) , China Innovation airlines, honeycomb energy and LG new energy released production expansion plans for many times in 2021. Among them, Contemporary Amperex Technology Co.Limited(300750) has successively arranged production capacity in Yibin, Zhaoqing, Yichun, Yichang, Guizhou and Xiamen, with a total investment of about 84.5 billion yuan. Honeycomb energy has released seven production expansion plans, with a total investment of 77.6 billion yuan.
For the rapid production expansion of friends, Contemporary Amperex Technology Co.Limited(300750) also gave a response in this investor survey. Contemporary Amperex Technology Co.Limited(300750) said that the expansion of friendly manufacturers does not mean that competition will increase. Only products with innovative material system and structural system are worth competition. The company will always provide customers with the most cost-effective products through material innovation, structural innovation and extreme manufacturing.
It is noteworthy that recently, Contemporary Amperex Technology Co.Limited(300750) sued honeycomb energy for unfair competition, and the case will open this month. It is reported that from 2018 to 2019, nine Contemporary Amperex Technology Co.Limited(300750) employees joined Wuxi Tianhong and Baoding Yixin respectively after leaving their jobs to provide services for Contemporary Amperex Technology Co.Limited(300750) competitor honeycomb energy, both of which were recognized by the court as related parties of honeycomb energy. Contemporary Amperex Technology Co.Limited(300750) believes that the nine people have violated the confidentiality and non competition agreement signed with them, so they are required to pay liquidated damages of 1 million yuan.
According to the disclosure of Citic Securities Company Limited(600030) , a counseling agreement has been signed with honeycomb energy on January 4 this year, and the two sides plan to complete the preparation of listing application documents by March 2022.
In August 2021, Contemporary Amperex Technology Co.Limited(300750) also sued the planned IPO of China Innovation airlines, saying that all its power battery products were suspected of patent infringement. So far, this lawsuit has not been finalized.
fully guarantee the supply of upstream resources, and the recovery rate of lithium battery has exceeded 90%
In addition to responding to many rumors in the recent market, Contemporary Amperex Technology Co.Limited(300750) also revealed the layout of the company in terms of upstream materials and raw material recycling in this investor survey.
The Chinese reporter of brokerage noted that a large part of the investment layout of Contemporary Amperex Technology Co.Limited(300750) in 2021 is centered on the upstream materials of power batteries.
Contemporary Amperex Technology Co.Limited(300750) said that the rise in the short-term cost of raw materials such as lithium carbonate has a certain impact on the company and can be hedged in a variety of ways. Among them, copper and aluminum can be greatly reduced through new technologies.
It is reported that Contemporary Amperex Technology Co.Limited(300750) is currently ensuring the supply of lithium resources through long-term association, investment cooperation, recycling and self mining. In terms of recovery, the recovery rate of lithium has exceeded 90%, and lithium recovery has played a certain role in supply guarantee; In addition to previous overseas investment and cooperation, the company also invested in lithium resources in Yichun and other places to mine lithium minerals by itself.
Contemporary Amperex Technology Co.Limited(300750) said that from the perspective of resources, the advantages of different products are different. The company has made ultra long-life batteries in the existing system to support business model innovation. In terms of the new system, the sodium ion battery developed by the company has good low-temperature performance. At the same time, the products with higher energy density will also explore and realize breakthrough applications in new fields.
Looking forward to the future, Contemporary Amperex Technology Co.Limited(300750) judges that the company’s growth speed, organizational ability and personnel’s internationalization ability are the biggest challenges. Based on the replicability of extreme manufacturing system, the company has arranged 10 production bases by the end of last year. In the future, the company plans to strengthen the layout of overseas bases and improve the system construction, including overseas staff training, which also faces more challenges.
Recently, a number of securities companies issued research reports to support Contemporary Amperex Technology Co.Limited(300750) . According to the analysis of Citic Securities Company Limited(600030) , Contemporary Amperex Technology Co.Limited(300750) fundamentals are still strong. In terms of market share, the global / Chinese market share of the company in 21 years was 32.6% / 52.4% respectively. It has maintained the first position in the world for five consecutive years, and the leading position is expected to be maintained. It is estimated that the sales volume of new energy vehicles in China / around the world in 2022 will be 5.5 million / 9.62 million respectively, and the corresponding power battery demand will be 286 / 500gwh respectively. Superimposed on the rapidly growing demand of the energy storage industry, the demand side of the industry will remain strong, the company’s production capacity will be accelerated, and the breakthrough of overseas power batteries and energy storage batteries is expected to be accelerated.
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