In the past year, the new energy vehicle industry has developed in full swing, and the performance of enterprises related to the industrial chain has also taken advantage of the trend.
Lithium battery material enterprise Ningbo Ronbay New Energy Technology Co.Ltd(688005) (688005. SH) disclosed the performance forecast for 2021 on January 3. The company expects to realize a net profit attributable to the owners of the parent company of 890 million yuan to 920 million yuan in 2021, with a year-on-year increase of 317.71% to 331.79%.
Ningbo Ronbay New Energy Technology Co.Ltd(688005) at the same time, it is estimated that in 2021, the net profit attributable to the owner of the parent company after deducting non recurring profits and losses will be 800 million yuan to 830 million yuan, with a year-on-year increase of 399.58% to 418.31%.
The net profit in the first three quarters of last year was 549 million yuan. It can be calculated that the company’s single quarter net profit in the fourth quarter of last year ranged from 341 million yuan to 371 million yuan.
whether the final performance reaches the upper or lower limit, Ningbo Ronbay New Energy Technology Co.Ltd(688005) has achieved the best performance in a single quarter in the most recent quarter.
This performance of is better than the prediction of the organization. The organic organization previously predicted that the net profit attributable to the parent company in Ningbo Ronbay New Energy Technology Co.Ltd(688005) in 2021 was 774 million yuan, 800 million yuan and 806 million yuan, all lower than the lower limit of the forecast.
For the reasons for the performance growth, Ningbo Ronbay New Energy Technology Co.Ltd(688005) said that during the reporting period, the penetration rate of high nickel technology route in the terminal of new energy vehicles was further improved. Driven by the high demand of downstream customers, the company accelerated the release of new production capacity and doubled its annual sales year-on-year.
At the same time, Ningbo Ronbay New Energy Technology Co.Ltd(688005) product structure is gradually optimized. The shipment volume of high nickel polycrystalline products maintained a leading position in the market, and the proportion of single crystal high energy density products and ultra-high nickel products above 9 series increased.
In addition, Ningbo Ronbay New Energy Technology Co.Ltd(688005) the self supply proportion of precursor plate increased year-on-year, reaching about 30%, and the profitability increased significantly year-on-year.
Ningbo Ronbay New Energy Technology Co.Ltd(688005) it was previously planned to achieve a production capacity of more than 120000 tons by the end of 2021. In the third quarter of last year, it was said that the planned production capacity could be achieved by the end of the year.
“At the end of this year, the cathode production capacity reached more than 120000 tons, at present, the orders on hand next year are greater than the production capacity at the end of the year, and the customer structure is dominated by power customers .” At an investor exchange meeting last October, Ningbo Ronbay New Energy Technology Co.Ltd(688005) executives said.
Last year, Bai Houshan, chairman and actual controller of Ningbo Ronbay New Energy Technology Co.Ltd(688005) and Zhang Yuan, then Secretary of the board of directors, were criticized in a circular for “seriously violating the fairness requirements of information disclosure” in terms of capacity disclosure.
Because the Ningbo Ronbay New Energy Technology Co.Ltd(688005) relevant personnel disclosed major information about capacity construction, actual production and output at a small-scale investor exchange meeting of a securities firm “2021 medium-term strategy meeting”, and made a prediction that the future performance of the company’s main business exceeded expectations, the stock price of the company then fluctuated abnormally.
The production capacity and performance probability of Ningbo Ronbay New Energy Technology Co.Ltd(688005) in 2022 remains to be seen.
After the completion of the plan last year, Ningbo Ronbay New Energy Technology Co.Ltd(688005) ‘s capacity expansion plan did not stop. It is planned that the production capacity will reach 250000 tons by the end of 2022, and the total production capacity will reach 1 million tons by 2030.
Ningbo Ronbay New Energy Technology Co.Ltd(688005) is also laid out in terms of integration. Last December, the company announced that it planned to invest 41.7 million yuan to acquire 70% equity of Fenggu energy conservation based on the strategic layout of “new integration”. The ceramic rotary kiln that can be developed by the latter can be applied to the sintering of cathode materials, which can effectively improve the production quality and reduce the comprehensive manufacturing cost.
Ningbo Ronbay New Energy Technology Co.Ltd(688005) also signed a strategic cooperation agreement with Zhejiang Huayou Cobalt Co.Ltd(603799) to lock in upstream precursors.
Peng Guangchun, an analyst at Huachuang securities, believes that Ningbo Ronbay New Energy Technology Co.Ltd(688005) is expected to further reduce production costs through scale effect in the future. With the completion of the battery material recycling base, the positive material industry chain will form a closed loop, and the net profit per ton is expected to be further improved.
“Considering that the company is the leader of ternary high nickel cathode in China, the overall capacity expansion rate in the future is much higher than that of other ternary cathode material manufacturers in China. With the increase of ternary precursor capacity in the future, the self supply proportion of ternary precursor will gradually increase, and the company’s performance is expected to increase.” Peng Guangchun said.
Ningbo Ronbay New Energy Technology Co.Ltd(688005) the senior management also said that the company was basically full of production and sales in the first three quarters, with a market share of 15% – 16%, significantly increasing year-on-year; In terms of terminal, many major models in Europe and America will use high nickel system in 2022.
Meanwhile, the large-scale mass production time of Ningbo Ronbay New Energy Technology Co.Ltd(688005) 9 series and above ultra-high nickel products mainly depends on the progress of downstream customers. It is expected that the large-scale application of 9 series products in customer terminals will gradually start from the second half of 2022.
On the secondary market, Ningbo Ronbay New Energy Technology Co.Ltd(688005) 2021 rose 124.25% in the whole year, and the share price rose 8.35% in the last trading day to close at 115.58 yuan / share, with the latest market value of 51.8 billion yuan.
(interface News)
