Under the background of the gradual saturation of the consumer lithium battery market, Sunwoda Electronic Co.Ltd(300207) , Shenzhen Desay Battery Technology Co.Ltd(000049) and other lithium battery enterprises have focused on the energy storage track, increased their investment in energy storage and tried to create the second growth curve.
On January 20, Sunwoda Electronic Co.Ltd(300207) , Shenzhen Desay Battery Technology Co.Ltd(000049) announced their actions in the field of energy storage. Sunwoda Electronic Co.Ltd(300207) announced the signing of the cooperation framework agreement with Ceepower Co.Ltd(300062) to conduct in-depth cooperation in energy storage, photovoltaic power generation and other businesses. Shenzhen Desay Battery Technology Co.Ltd(000049) is a planned investment of 7.5 billion yuan to build an energy storage cell project.
The trend of relevant enterprises actively developing business has been favored by some star fund managers. By the end of the fourth quarter of 2021, Sunwoda Electronic Co.Ltd(300207) and Shenzhen Desay Battery Technology Co.Ltd(000049) had become one of the top ten new positions in Cinda Aoyin new energy industry managed by Feng Mingyuan and China EU Innovation future managed by Zhou Yingbo.
optimistic about energy storage prospects
accelerated layout of lithium battery enterprises
According to Sunwoda Electronic Co.Ltd(300207) announcement, the company's wholly-owned subsidiary Sunwoda Electronic Co.Ltd(300207) integrated energy and Ceepower Co.Ltd(300062) wholly-owned subsidiary China energy Lvhui signed the cooperation framework agreement. In the future, the two sides plan to conduct in-depth cooperation in photovoltaic power generation, energy storage and integrated energy services. Specifically, in terms of energy storage business cooperation, both parties agreed that when purchasing required energy storage products, centralized control platform and other products, China energy Lvhui would give priority to purchasing Sunwoda Electronic Co.Ltd(300207) comprehensive energy products.
According to the data, Sunwoda Electronic Co.Ltd(300207) comprehensive energy mainly focuses on the integration and application technology of lithium battery energy storage, focusing on the fields of power, network energy, household energy storage and portable energy storage. Sunwoda Electronic Co.Ltd(300207) said that the cooperation between the company and Ceepower Co.Ltd(300062) will be conducive to the sales of the company's energy storage products and centralized control platform, and improve the overall interest level of the company.
Previously, on December 14, 2021, Sunwoda Electronic Co.Ltd(300207) announced that the company plans to invest 20 billion yuan in Zaozhuang 30gwh power and energy storage battery project through its subsidiary Sunwoda Electronic Co.Ltd(300207) automobile battery. According to the company's calculation, it is expected to achieve an annual output value of about 20 billion yuan after the project is completed.
Shenzhen Desay Battery Technology Co.Ltd(000049) announced that it had signed the agreement on the entry of Shenzhen Desay Battery Technology Co.Ltd(000049) energy storage cell project with the Management Committee of Changsha Wangcheng economic and Technological Development Zone, and planned to establish a holding subsidiary in Changsha Wangcheng economic and Technological Development Zone and build " Shenzhen Desay Battery Technology Co.Ltd(000049) energy storage cell project". The project plans to invest 7.5 billion yuan in fixed assets and the project capacity will reach 20gwh, It is expected to achieve an annual output value of 12 billion yuan after it is fully completed. Prior to this, the energy storage business of Shenzhen Desay Battery Technology Co.Ltd(000049) was mainly packaging business and did not involve cells.
Both of them are interested in the broad prospect of energy storage. Sunwoda Electronic Co.Ltd(300207) previously, when answering investors' questions on the interactive platform, he said that the photovoltaic energy distribution and storage business has always been a business segment that the company attaches great importance to. Although the revenue of the energy storage business accounts for a small proportion of the overall operating revenue, with the continuous improvement of the energy storage market, this business will have huge development space in the future. Shenzhen Desay Battery Technology Co.Ltd(000049) previously publicly stated that the proportion of photovoltaic, wind power and other new energy power generation will increase rapidly, and energy storage, as its important supporting facilities, will also usher in rapid growth. The energy storage battery market is the company's key business field in the future.
"The energy storage market is in the start-up stage or embryonic stage, and the market has great development opportunities." In an interview with Securities Daily, Qi Haili, President of Beijing Teyi Sunshine New Energy Technology Co., Ltd., believed that the unremitting pursuit of high-energy density batteries by new energy vehicles has driven the technological progress of electrochemical energy storage batteries, the industrialization of lithium battery energy storage technology is accelerating, and the new business model of energy storage power stations is also expanding and practicing rapidly. "New energy vehicles + energy storage" driven by lithium batteries is likely to become a pillar industry for China's new economic development.
Jiang Han, senior researcher of Pangu think tank, said in an interview with the Securities Daily that the development of energy storage business by lithium battery enterprises is almost an inevitable trend. For lithium battery enterprises, the development of energy storage business may be the best direction, which is conducive to the construction of industrial chain cycle.
create the second growth point
some funds actively "support"
Lithium ion batteries occupy the mainstream position in the energy storage market, bringing certain advantages for lithium battery enterprises such as Shenzhen Desay Battery Technology Co.Ltd(000049) , Sunwoda Electronic Co.Ltd(300207) to enter the energy storage track.
According to the statistics of energy storage application branch of China National Chemical Engineering Co.Ltd(601117) and physical power industry association, lithium iron phosphate battery accounts for nearly 90% in China's electrochemical energy storage market. It is not only the mainstream technology route, but also one of the technologies with the fastest commercialization process. According to the data of Electronic Information Research Institute of China Electronic Information Industry Development Research Institute, the proportion of lithium-ion battery market for energy storage in lithium battery market has been increasing in recent years, reaching 6.4% in 2020, an increase of 1.3 percentage points over 2019.
Liu Jimao, founder of Hongda photovoltaic, told the Securities Daily that the electrochemical energy storage market is dominated by lithium-ion battery energy storage. Electrochemical energy storage is a new driving force for the growth of energy storage market. With the continuous improvement of electrochemical energy storage technology, the manufacturing cost and maintenance cost of electrochemical energy storage system are decreasing, and the capacity and service life of energy storage equipment are increasing. Electrochemical energy storage will be applied on a large scale and become a new development trend of China's energy storage industry.
It is worth mentioning that Sunwoda Electronic Co.Ltd(300207) , Shenzhen Desay Battery Technology Co.Ltd(000049) and other enterprises also have practical needs at the performance level. According to the performance forecast released recently by Sunwoda Electronic Co.Ltd(300207) , in 2021, the company realized a net profit of 398-558 million yuan after deducting non recurring profits and losses. As Sunwoda Electronic Co.Ltd(300207) in the first three quarters of 2021, the net profit attributable to the parent company after deducting non-profit has reached 451 million yuan, there may be a loss in the fourth quarter of 2021. Shenzhen Desay Battery Technology Co.Ltd(000049) it is estimated that the net profit attributable to the parent company will be 750-800 million yuan in 2021, with a year-on-year increase of 11.99% - 19.46%. However, a large part of the reason is that the acquisition of minority shareholders' interests of the two subsidiaries has been completed, and the endogenous growth is relatively limited.
At present, energy storage has entered a new stage of "large-scale development" from the "initial stage of commercialization", which is conducive to becoming the second growth point of enterprises. It is understood that in 2020, the year-on-year growth rate of installed capacity of electric energy storage projects was 136%, the cost of electrochemical energy storage system also exceeded the key inflection point of 1500 yuan / kWh, and the lithium energy storage battery entered a period of rapid development. In fact, not only Sunwoda Electronic Co.Ltd(300207) , Shenzhen Desay Battery Technology Co.Ltd(000049) , but also Byd Company Limited(002594) recently established a joint venture FAW Freddy New Energy Technology Co., Ltd. with FAW Group, and its business also covers energy storage batteries.
The prospect of related diversification of lithium battery enterprises has attracted some star fund managers. Cinda Aoyin new energy industry, managed by Feng Mingyuan, recently released the fourth quarter report of 2021. Among the top ten heavy positions, there was a new figure of Sunwoda Electronic Co.Ltd(300207) , with a position of 6.0589 million shares and a market value of about 255 million yuan, accounting for 1.46% of the net value of the fund. The figure of Shenzhen Desay Battery Technology Co.Ltd(000049) also appeared in the top ten new heavy position stocks of China Europe Innovation future managed by Zhou Yingbo at the end of the fourth quarter of 2021. The number of positions reached 6.5198 million shares, with a market value of about 380 million yuan, accounting for 3.38% of the net value of the fund.
In the 4000 word investment strategy and operation analysis of the China EU Innovation future quarterly, Zhou Yingbo wrote that he is optimistic about the accelerated growth after the penetration rate of new energy vehicles exceeds 10%, the comprehensive popularization and substitution of photovoltaic on the power generation side, and the great potential of new energy storage in the transformation of the power system.
