On March 11, China Innovation Airlines disclosed its prospectus and took a key step towards listing in Hong Kong. As a power battery head enterprise, China Innovation Airlines has continued to grow explosively in recent years. By landing in the capital market, China Innovation airlines will get more “ammunition” in capacity expansion and technological innovation, and seize the opportunity of rapid development of the global new energy vehicle market.
It is worth mentioning that the sales volume of Shanxi Guoxin Energy Corporation Limited(600617) vehicles in China continues to lead the world, which is inseparable from the strong support of the new energy vehicle industry chain. Especially in the power battery link, the power battery head enterprises represented by China Innovation airlines are expected to escort China to seize the commanding height of the global new energy vehicle industry through capacity expansion and technological innovation.
get rapid growth
Statistics show that China Innovation Airlines is mainly engaged in the design, R & D, production and sales of power batteries and energy storage systems. It has become one of the power battery head enterprises in China and even the world. According to the data released by frost Sullivan, according to the installed capacity in 2021, China Innovation Airlines ranks second among the third-party power battery enterprises in China and seventh among the global power battery enterprises; According to the installed capacity in January 2022, China Innovation Airlines has jumped to the sixth place in the global power battery enterprise.
According to the prospectus, from 2019 to 2021, the power battery sales of China Innovation Airlines increased from 1.62gwh to 9.31gwh, with a compound annual growth rate of 139.7%. It is the only one of China’s top ten power battery enterprises with a year-on-year growth rate of more than 100%.
Financial data show that in 2019, 2020 and 2021, the operating revenue of China Innovation Airlines reached 1.734 billion yuan, 2.825 billion yuan and 6.817 billion yuan respectively, with a compound annual growth rate of 98.28%.
At the same time, the “circle of friends” of China Innovation Airlines has been expanding. At present, China Innovation Airlines has supported GAC, Chang’an, Guangfeng, guangben, SAIC GM Wuling, Geely and other main engine plants, and has become the largest supplier of GAC and Chang’an. The main supporting models include GAC e’an series, Hongguang mini, Benben e-star and so on. In addition, China Innovation Airlines has also obtained the fixed point of all models of Xiaopeng automobile, and the Zero run C11 model is also provided by the company alone.
Under the background of the rapid development of new energy vehicle industry and the continuous rise of power battery installed capacity, China Innovation Airlines has already put production expansion on the agenda. The prospectus shows that China Innovation airlines will build / expand its existing industrial base, add multiple production lines and continue to upgrade its technology.
At present, among the top five camps of China Shipbuilding Industry Group Power Co.Ltd(600482) battery, China Innovation Airlines is the only enterprise that has not been listed yet. Although several rounds of equity financing have been completed in recent years, it is reasonable to further accelerate the development of the company through listing considering the development prospect of the new energy vehicle industry, the company’s globalization strategy and capacity layout planning.
For the listing of China Innovation airlines in Hong Kong, industry insiders pointed out that some high-quality new energy enterprises have been listed in Hong Kong in recent years and achieved good issuance results. As an international financial center, Hong Kong has a mature capital market system and international institutional investors. As one of the power battery head enterprises, China Innovation Airlines is in a period of rapid development, which is expected to be fully recognized by domestic and foreign investors, and investors can also fully enjoy the dividends brought by the company’s development.
If listed successfully in Hong Kong, it will also help the company maintain the momentum of rapid development. The prospectus shows that the funds raised by China Innovation airlines in its listing in Hong Kong will be used for: new construction and expansion of multiple industrial base projects of power batteries and energy storage systems; Advanced technology research and development to maintain the leading edge of technology; Working capital and general corporate purposes.
seize the global commanding heights
The development of new energy vehicle industry has become the “battleground” of global industrial competition. Since 2015, the sales volume of Shanxi Guoxin Energy Corporation Limited(600617) vehicles in China has ranked first in the world for seven consecutive years. The rapid development of China Shanxi Guoxin Energy Corporation Limited(600617) automobile industry has not only become an important starting point for China to promote the strategy of “carbon neutralization and carbon peak”, but also become a new highland for China to seize the global industrial competition.
The sudden rise of China Shanxi Guoxin Energy Corporation Limited(600617) automobile industry is inseparable from the strong support of China Shanxi Guoxin Energy Corporation Limited(600617) automobile industry chain enterprises. Especially in the field of power batteries with the highest value of new energy vehicles, the performance of Chinese enterprises is particularly prominent. According to the data, in the global power battery installation ranking in 2021, Chinese enterprises represented by China Innovation Airlines occupy three seats in the top seven, with a global market share of 45.1%.
In addition to production capacity, Chinese enterprises are also world leaders in technology. Taking China Innovation airlines as an example, the company has made many breakthroughs in material, structure and manufacturing technology innovation, as well as ecological and healthy development innovation. For example, the newly developed minimalist one stop better battery has advantages in energy density, safety and economy, and has become the focus of the industry.
For example, China Innovation aviation has developed ultra-high heat stable battery, self repairing solid electrolyte mask and high safety electrolyte, and applied it to magazine battery, making it the first three yuan battery successfully passed the puncture test. Acupuncture test is one of the most stringent tests in the safety performance test of power battery. At present, only two automobile brands in China have announced the “qualified” results of ternary battery acupuncture test, and one brand of power battery is provided by China Innovation airlines.
The above innovations are highly praised by the market. For example, Xi Zhongmin, deputy general manager of GAC AIAN, said that the reason why the company is recognized by the market is inseparable from the strong support of China Innovation airlines in technology and supporting supply, “We have jointly developed the industry’s first ‘magazine battery’ system safety technology, which can withstand the most rigorous acupuncture test, set a new level of battery safety, and achieved the global leadership of EV technology. At present, it is fully equipped with mass production on all models of gac-e’an.”
On the future strategy, at last year’s Strategy Conference, Liu Jingyu, chairman of China Innovation airlines, revealed that the company will continue to cultivate energy storage technology, focus on energy storage materials, new energy storage systems and efficient recycling, and continue to make efforts in the direction of “intelligence +” and “energy +”, build an all-round energy operation system and accelerate the process of clean energy substitution, We will help drive the transformation of the way and promote the development of low-carbon society. China Innovation Airlines adheres to the enterprise spirit of “surpassing business and benefiting mankind” and the enterprise vision of “creating a win-win situation”, takes building and improving a healthy industry ecosystem as its mission, drives the healthy development of the industry with innovative ideas and leading core technologies, and makes unremitting efforts to lead the new era of energy.
In the face of the broad prospects of the new energy vehicle industry and with the help of the capital market, the development of AVIC is expected to run out of “acceleration”.
The prospectus shows that the global new energy vehicle market will continue to maintain a high-speed growth trend. From 2021 to 2026, the global sales volume of new energy passenger vehicles is expected to grow at a compound annual growth rate of 29.8%, and the global penetration rate of new energy passenger vehicles is expected to reach 30.1% in 2026. Among them, China will be the world’s largest new energy vehicle market, and the penetration rate of new energy passenger vehicles is expected to rise from 15.5% in 2021 to 37.7% in 2026.
With the continuous growth of the new energy vehicle market, the global power battery installed capacity is expected to grow at a CAGR of 36.4% from 2021 to 2026, and reach 1386.7gwh in 2026 Among them, China is the largest power battery market in terms of installed capacity. It is expected that the installed capacity of power battery will reach 762.0gwh in 2026, and the compound annual growth rate from 2021 to 2026 will be 37.6%.
