On April 20, the global power battery leader Contemporary Amperex Technology Co.Limited(300750) ( Contemporary Amperex Technology Co.Limited(300750) , hereinafter referred to as Contemporary Amperex Technology Co.Limited(300750) )
The share price hit a new low in nearly ten months, with an intraday decline of nearly 8%. The lowest quotation was 405.78 yuan / share, with a turnover of more than 10 billion yuan.
As of the closing of the day, Contemporary Amperex Technology Co.Limited(300750) closed at 407 yuan / share, down 7.55%. The total market value was 948.7 billion yuan, and the market value fell below trillion mark. At present, Contemporary Amperex Technology Co.Limited(300750) ranks eighth in the market value of a shares.
At the close of the previous trading day, the total market value of Contemporary Amperex Technology Co.Limited(300750) was 1026.2 billion yuan. In just one trading day, the total market value of Contemporary Amperex Technology Co.Limited(300750) evaporated 77.5 billion yuan. According to the 134200 shareholders disclosed by Contemporary Amperex Technology Co.Limited(300750) in the previous period, the average loss of each shareholder was 577700 yuan.
In 2018, Contemporary Amperex Technology Co.Limited(300750) landed on the A-share gem. In less than four years, the share price rose from more than 20 yuan to 692 yuan, with a range increase of 1900%. 2021 is a year for Contemporary Amperex Technology Co.Limited(300750) share price to take off, with an increase of over 600% during the year.
In May last year, Contemporary Amperex Technology Co.Limited(300750) market value exceeded the trillion mark for the first time, becoming the first company on the gem to reach the trillion market value. Since then, the share price of Contemporary Amperex Technology Co.Limited(300750) which won the title of “king of trillion Ning” continued to rise, surpassing Industrial And Commercial Bank Of China Limited(601398) in market value in November last year, ranking second in a shares. The market value reached an all-time high of 750 yuan on March 1, 2021, reaching an all-time high.
Since 2022, Contemporary Amperex Technology Co.Limited(300750) share price has been corrected all the way, with a decline of 40% in the past four months The gem stock index where Contemporary Amperex Technology Co.Limited(300750) is located also fell by about 30%, and the Shanxi Guoxin Energy Corporation Limited(600617) sector generally entered the downward range. As of the closing on April 20, six of the top ten heavyweights on the gem suffered a decline, and the gem index fell sharply to 2363 points, down 3.66%, also hitting a new low in the new year.
Despite the continuous correction of the stock price, Contemporary Amperex Technology Co.Limited(300750) the performance in the past year still reached the highest profit level since its listing in 2018.
Contemporary Amperex Technology Co.Limited(300750) the annual performance forecast disclosed in January this year shows that the net profit attributable to shareholders of listed companies is expected to reach 14-16.5 billion yuan in 2021, with a year-on-year increase of 150.75% – 195.52%.
Contemporary Amperex Technology Co.Limited(300750) said that the increase in performance in 2021 was mainly due to the increase in the market penetration of new energy vehicles and energy storage in 2021, driving the growth of battery sales; The company has made progress in market development, released new production capacity and increased production and sales accordingly; The company strengthened cost control and reduced the proportion of expenses in revenue.
On the news side, due to the high market attention of Contemporary Amperex Technology Co.Limited(300750) , there have been constant rumors and disturbances recently.
Affected by the recent epidemic, covid-19 cases occurred in Ningde, Fujian, where Contemporary Amperex Technology Co.Limited(300750) headquarters is located. The market pays great attention to whether Contemporary Amperex Technology Co.Limited(300750) production capacity is affected.
Contemporary Amperex Technology Co.Limited(300750) the relevant person in charge denied the rumor of “shutdown” and told the media: “recently, there has been an individual epidemic in Ningde, and the government has temporarily upgraded the epidemic prevention and control measures. The company attaches great importance to it and strengthened communication and coordination with relevant government departments for epidemic prevention at the first time. At present, in order to maximize the market supply, the company strictly adopts grid management measures to ensure the orderly production of Ningde base.”
However, Contemporary Amperex Technology Co.Limited(300750) did not further explain whether the adoption of grid management measures will affect its battery capacity.
After trading on April 19, there was a market rumor that the performance of Contemporary Amperex Technology Co.Limited(300750) 2022 in the first quarter was lower than expected and may not reach 5 billion yuan. Some researchers pointed out that when it comes to the report season, there will be many versions of rumors, and the accuracy is difficult to evaluate. If less than 5 billion is true, there is only one reason why it is lower than expected. The favorable price of lithium carbonate price rise is not timely.
It is reported that the annual report of Contemporary Amperex Technology Co.Limited(300750) 2021 will be officially disclosed on April 22, and the first quarterly report of 2022 will be disclosed on April 28. At that time, the truth of the rumors will be verified.
On April 20, some media reported that Contemporary Amperex Technology Co.Limited(300750) relevant people disclosed that the company will prepare to release new power battery technology in the near future, and the share price is expected to be corrected. In this regard, Contemporary Amperex Technology Co.Limited(300750) told surging news that the company has not announced the recent release of new technologies. The company will release new technologies from time to time. The previously disclosed “Kirin battery” will be officially released in April.
Data source: SNE research
Since 2017, Contemporary Amperex Technology Co.Limited(300750) has become the world’s No. 1 power battery supplier for five consecutive years. According to the statistics of SNE research, the global installed capacity of Contemporary Amperex Technology Co.Limited(300750) power battery reached 96.7gwh in 2021, accounting for about 32.6% of the global power battery market.
Since this year, under the dual influence of covid-19 epidemic and the rise in the price of raw materials, Contemporary Amperex Technology Co.Limited(300750) has still ranked first in the market performance. According to the data of China automotive power battery industry alliance, in the first quarter of this year, Contemporary Amperex Technology Co.Limited(300750) power battery loading volume reached 25.51gwh, accounting for 49.75% of China’s market share. According to SNE research, from January to February this year, Contemporary Amperex Technology Co.Limited(300750) ranked first in the global power battery shipments with 18.4gwh, accounting for 34.4% of the global market share.
According to the statistics of the passenger Federation, in March 2022, 445000 new energy passenger vehicles were retailed, with a year-on-year increase of 137.6%. The monthly penetration rate of new energy passenger vehicles was 28.2%, with a month on month increase of 6.4%, a record high. Since this year, the penetration rate of new energy vehicles has continued to increase, promoting the industry to maintain a high outlook.
Citic Securities Company Limited(600030) analysis said that Contemporary Amperex Technology Co.Limited(300750) fundamentals remained strong. In terms of market share, the global and Chinese market share of the company were 32.6% and 52.4% respectively in 2021. 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 in 2022, the sales volume of new energy vehicles in China / around the world will be 5.5 million and 9.62 million respectively, and the corresponding power battery demand will be 286gwh and 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 capacity will be released rapidly, and the breakthrough of overseas power batteries and energy storage batteries is expected to be accelerated. In the field of technology, the company has successively released CTP, CTC, a+b and other structural innovation technologies, as well as new technology solutions such as sodium ion battery and power exchange, which continue to lead the development of the industry.
Soochow Securities Co.Ltd(601555) also said that Contemporary Amperex Technology Co.Limited(300750) recently, due to various rumors, the stock price was wrongly killed, and the valuation was corrected to the bottom of history. 2022 is a big year for the global sales of electric vehicles and energy storage, and the company has sufficient orders. It is expected that the global share will further increase to 35% +, and the shipment volume and performance are expected to continue to double. The current valuation is obviously underestimated. Considering the high growth of the company in 2022 and the global power battery longyi, the customer, technology and cost are all in the lead, and the long-term advantages are prominent, the company is given a certain valuation premium, 70 times PE in 2022, the target price is 905.8 yuan, and the “buy” rating is maintained.
