On the evening of April 13, Gcl Energy Technology Co.Ltd(002015) ( Gcl Energy Technology Co.Ltd(002015) . SZ) released the annual report of 2021. In 2021, the company achieved a revenue of 11.314 billion yuan, a slight decrease of 0.71% over the same period; The net profit attributable to the parent company was 1.004 billion yuan, a year-on-year increase of 21.8%; The net profit deducted from non parent company was 570 million yuan, a year-on-year decrease of 19.02%. In 2021, the company’s non recurring profit and loss was RMB 434 million, including RMB 421 million of non current asset disposal profit and loss and RMB 58 million of government subsidies.
electricity sales business decreased
In 2021, Gcl Energy Technology Co.Ltd(002015) electric power sales business achieved a revenue of 6.641 billion yuan, a year-on-year decrease of 16.58%; Accounting for 58.70% of the total revenue, a year-on-year decrease of 11.16 percentage points, but it is still the largest source of revenue of the company.
Gcl Energy Technology Co.Ltd(002015) said that in the context of high costs, the company reduced its power generation. According to the annual report, the power production in 2021 decreased by 16.68% year-on-year. The sales volume decreased by 20.71% year-on-year.
In 2021, plagued by the epidemic, extreme weather and the implementation of China’s carbon reduction policy, combined with multiple factors such as international inflation and energy crisis, the supply of coal and natural gas was tight and the price hit record highs.
Connectivity datayes! It shows that the national index of China’s LNG ex factory price rose from the low point of 3173 yuan / ton on March 2021 to the high point of 7871 yuan / ton on November 2, up 148.06%; The settlement price of thermal coal futures rose from a low of 601.2 yuan / ton on February 22 to a high of 1908.2 yuan / ton on October 19, an increase of nearly 217.40% Gcl Energy Technology Co.Ltd(002015) the latest new year’s report said that it is roughly estimated that the rising price of electric coal will lead to an additional increase of about 600 billion yuan in the purchase cost of electric coal for national coal and power enterprises in 2021.
In 2021, the company will raise the average on grid price or selling price from 57 yuan / 100 million kwh in 2020 to 60 yuan / 100 million kwh; The gross profit margin is the same as that in 2020, still 24.35%.
power exchange business continued to develop, and R & D personnel increased by 447%
In 2021, the revenue of other categories of the company, including power exchange business, increased by 110.69% year-on-year, accounting for 5 percentage points to 9.41% of the total revenue.
Last March, the company released the development plan for electric vehicle power exchange business, announcing its entry into the field of mobile energy. A year later, in March 2022, the fixed increase of RMB 3.765 billion mainly used for the construction of exchange power station was implemented.
In terms of specific business, the company focuses on the power exchange scenarios of taxis, online car hailing, heavy trucks and light trucks, and cooperates with Geely, Futian, Sany, Dongfeng, huolala, Contemporary Amperex Technology Co.Limited(300750) , ground rail and other leading enterprises in vehicle production, travel platform, battery manufacturing and logistics industries, focusing on nine regions in North China, South China, East China, southwest, Luyu, Lianghu, Shanxi, Inner Mongolia and northwest.
During the reporting period, the company completed the construction of 5 passenger vehicle replacement power stations and 1 commercial vehicle replacement power station. Up to now, 9 passenger vehicle replacement power stations and 4 commercial vehicle replacement power stations have been completed. According to the development plan of electric vehicle power exchange business, the company will build an energy supplement network serving more than 25000 new energy vehicles in 2022.
The company’s R & D of power exchange business is also continuously promoted. In 2021, due to the new power exchange business, the company’s R & D personnel increased by 447.37% year-on-year; The amount of R & D investment was 30.97 million yuan, a year-on-year increase of 154.53%. At the same time, the “commercial vehicle mobile energy service system” project has completed the trial production of R & D sample station, and continues to carry out performance and function tests.
Citic Securities Company Limited(600030) research report said that it is expected that the number of replacement power stations will increase explosively in 2022, and the number of new replacement power stations in the whole year will exceed 3000; It is estimated that by 2025, the industry is expected to add more than 10000 units in that year, and the corresponding equipment investment and operation income of power exchange industry will reach 100 billion yuan. By 2025, the number of replacement power stations may exceed 30000, an increase of more than 30 times compared with 2021.
60 Hefei Lifeon Pharmaceutical Co.Ltd(003020) 22 February gave the company 50 times PE for power exchange business in 2023, far exceeding 15 times PE for the company’s traditional energy (electricity and steam) business The company has also said that the power exchange business may become the backbone of the company’s future business.
