With the end of August, the semi-annual report has come to an end, and the Shanghai and Shenzhen listed companies have handed over the transcript of this year.. After experiencing the influence of the new energy car subsidies last year, the development of the dynamic lithium battery market has grown to the blood shift from barbarism, but for four years.
From financial data, new energy batteries have become more than “strong Hengqiang” patterns, and the first echelon company CATL (300750.sz) and BYD (002594.sz) achieved revenue 20.
264 billion yuan and 6.2184 billion yuan in the first half of the year. The corresponding net profit is RMB 2102 billion and 1.
455 billion yuan, and continue to occupy the first two in the domestic battery installation.. In addition, Guoxuan Gaoke (007074.
sz) In the first half of the year, the passenger vehicle power lithium battery installed capacity ranking industry third, second only to CATL and BYD. However, the half-year report of the National High-tech financial data is a little less than the two head companies..
According to the half-year report, the National Highway first realized business income in first half of the year, up 38.07 billion yuan, up 38.36% year-on-year, but the net profit is not rising, but net profit is 352 million yuan in the report period, 2.
49% year-on-year. In addition, the deduction of net profit is 292 million yuan, up 10.34% year-on-year.
. In addition, the reporter came to Hefei Fukuan Battery Material Co., Ltd.
, which was located in Anhui Province. The production base is important to research and development, demonstration verification, industrialization and sales of lithium electron-powered lithium battery materials..
The reporter observed at the site that some factory buildings are under construction, and it has not yet been put into production. According to the field project, it is expected that the 2020 electrode materials can reach 50,000 tons..
According to the amount of installation, the market share of Guoxuan’s high school in 2019 is 5.89%, which only has a slight increase in last year..
Vice President of Guoxuan Gaoke said that in the semi-annual report, the reporter meeting said that with the successful release of several production, the ratio of the rise in the second half of the year may be higher.. Increasing income is disclosed for half a year, in Guixuan High-class business income, the power lithium-ion battery is still the main product, and the operating income is 3279 billion yuan, up 48.
72% year-on-year, accounting for 90.92 %; In addition, transmission and transformation business achieves business income of 249 million yuan, a year-on-year reduction of 25.19%, accounting for 6.
36% of operating income.. It is worth noting that although the company’s operating income remains stable, but due to the rise in business income, the company has increasing the income and university situation.
. In 2018, the company has achieved operating income of 5.127 billion yuan, with a year-on-year increase of $ 580.
8 billion, a year-on-year reduction of 30.75%, and its important reason lies in the decline in gross profit margin caused by the price of the company’s dynamic lithium battery product..
According to the company’s reply to the deep exchange, the company’s battery pack products are 5.41 yuan in the 2017 unit (yuan per day), and the unit cost (yuan per day) is 3.26 yuan, corresponding gross profit margin is 39.
81%; 2018 The battery group fell to 3.57 yuan (yuan per day), the unit cost was 2.54 yuan (yuan per day), the corresponding gross profit margin fell to 28.
80%. In fact, due to the rapid expansion of the dynamic lithium battery industry, the industrial competition and the number of new energy vehicle subsidies have been adjusted, the gross profit margin of the dynamic lithium-ion battery in the first half of 2016 and 2018 is 48.71%, 39.
81%, respectively. 28.80%.
In the first half of this year, the gross profit margin of the powered lithium-ion battery was 30.35%, which continued 2.12% over the same period last year.
. In this regard, Ma Guifu said to the reporter: “Due to the restroom of the new energy vehicle industry, the price decline is relatively powerful..
In 2016, the sales unit price is around 2.2 yuan, 2017 1.6 yuan, 1.
2 yuan in 2018, within 1 yuan in the first half of 2019. The price of the material also declines, 2018, the line of 2019 is obviously slow, 2020, the worship, the purity, the net profit should tend to stabilize. “The company sold Suzhou Guoxuan in June 2018.
The government subsidy is much more, our profitability has become strong.. “Ma Guifu said at the six-year reporter meeting.
. In the case of subsidies, the product is transformed, Guoxuan has already left the bottom of the valley..
“However, due to the influence of new energy vehicle policy subsidies, the payment of the vehicle manufacturer payment, the company’s accounts receivable will continue to expand the trend in the first half of this year.. According to the half-year report, the receipt of the company at the end of the reporting period is 6.
66 billion yuan, accounting for 29.38% of the total assets; the last year of the same period is 5.26 billion yuan, accounting for 27.
72% of total assets, accounts receivable At the end of this issue, it has risen by 33.13% from the end of the period..
Technical route selection is understood, the battery used by the electric vehicle is naming according to its material, and the existing battery material comprises lithium titanate, lithium cobaltate, lithium manganese acid, lithium iron phosphate, nickel-wateng manganese and nickel-cobalt aluminum aluminum aluminum. Among them, Since its establishment in 2006, Ken Xuan Gaoke has been engaged in research and development of lithium iron phosphate ion batteries..
In the past few years, due to subsidy policies, the tendency of the energy density, the endless mileage, the mainstream technology route of the passenger car is a ternary battery.. According to the GGII for 2019, I’m analyzed by the Sanqi vehicle dynamic lithium-ion battery.
The proportion of the three-dimensional lithium battery shipments still exceeds the lithium iron phosphate ion battery, about 65% of the shipments are three-dimensional lithium battery.. According to an industry insider, the advantage of the three-dimensional ion battery is that the energy storage density and low temperature, energy density is an important indicator of subsidies.
Under the guidance of subsidy policies, high-energy power lithium batteries correspond to higher subsidies. The advantage of the three-yuan battery is obvious, thereby causing power lithium battery manufacturers to choose to turn to three yuan..
Therefore, the corresponding is the market share of the three-yuan battery remains the advantage.. According to GGII statistical data, the three-yuan battery pack of new energy passengers in the first half of the year is approximately 19.
81GWH, accounting for 88.4%, up 145% year-on-year; the lithium iron phosphate ion battery pack is about 1.07GWH, accounting for 4.
8%, coexpension 27.2%. It is worth noting that with the cost advantage of lithium iron phosphate ion battery, future market or change.
Xu Xing, executive vice president of Guoxuan High-Tech Engineering Research Center, said that when the technical route of three yuan and iron lithium, the three yuan materials were about 120,000 / ton, iron lithium 90,000 / ton, material no big difference. Further, in the case of the energy density of about 130, the ternary material can be more than 180 or more, the cost of the ternary material is high, and the advantage is obvious..
However, due to the large price increase of ternary materials, this advantage has gradually narrowed in recent years.. Xu Xing, executive deputy director of Guoxuan High-Tech Engineering Research, said: “The three-yuan materials suddenly increased significantly, and when the cobalt rose to more than 600,000, the three yuan materials rose to 280,000.
. Even if the energy density is a little higher, the cost is also high..
“In addition, with the price increase of the ternary raw materials and the steady decline in iron lithium raw materials, the car enterprises have re-switched some of the passenger models to the lithium iron-based technical route.. In this regard, Xu Xing is not called: “Lithium iron phosphate should be a natural thing.
. “Chartered Subsidy Age March 26, 2019, the Ministry of Finance, the Ministry of Industry, Ministry of Science and Technology and the Development and Reform Commission, jointly announced the” Notice on Further Improvement of New Energy Motors “(hereinafter referred to as” Notice “), subsidies New Deal has been implemented from the same day, to 25 June 25, 2019. This means that before the introduction of new subsidy policies, new energy vehicles will be sold under the subsidy, and under the subsidy policy “resuscitation, adjustment, and exit” mechanism, it is planned to have a comprehensive cancellation of new energy car subsidies in 2020.
. In fact, accompanied by domestic new energy vehicles to fully enter the free competition era, the upstream dynamic lithium battery industry concentration increases, indirectly leads to both polarizations in the power lithium battery market intensified. Industry analysis is expected that with the 2019 subsidy policy adjustment and the change of the power lithium battery tax, the power lithium battery company will only have 20-30, 80% of the company will be eliminated.
. Statistics show that my country’s powered lithium battery installed total power consumption is about 30.01GWh, a year-on-year increase of 93%.
Among them, the total number of loads of the installed power is about 26.38GWH, accounting for 88% of the overall. Among them, CATL and BYD have 44%, 21%, respectively, and the total market share of the two is over 60%.
. Since then, Guoxuan Gaoke is ranked third with 1.76GWH installed capacity, second only to CATL and BYD.
Among them, the first CATL has a relatively advantage on the mainstream technology route of two lithium-ion batteries; although BYD ranked, although the “battery + whole car” layout, BYD said in recent performance exchange meeting, will The new generation of iron lithium ion batteries will be launched in May to June next year, or lithium iron phosphate will be regained.. According to power lithium battery application branch data, Guoxuan Gaoke will reach 1.
15GWH, 1-May phosphate, and ion battery.. Guoxuan’s high-tech has completed the product upgrade of the phosphate monomer energy density 190Wh / kg, and the energy density of the passenger vehicle system exceeded 140Wh / kg, and the new energy vehicle has more than 400 kilometers of life, this year plans to put phosphoric acid this year.
Mixed lithium monomer battery energy density increased to about 200Wh / kg. In addition, the company will further release in related production..
The reporter came to Hefei Fukuan Battery Material Co., Ltd., in Anhui Province, according to the staff, the production base was established in April 2015.
At present, the production of lithium iron phosphate is 26,000 tons, and the three yuan 622 positive output is 6,000 tons, and it is building. 10,000 tons of high nickel ternary positive material and 5000 ton silicone carbon negative material production line. At the end of last month, foreign media reported that the Mass Group is in order to obtain key technologies in my country’s auto market, and is exploring potential investment on my country’s parts suppliers, considering stockings or establish a joint venture with my country Bad Battery.
. According to the market guess, the public considers one of the goals that may cooperate, including Guoxuan’s high school..
In this regard, Ma Guifu responded in the reporter meeting: “First, Hefei is a good place; Second, Guoxuan Haoke is a good company; third, I have to fight, we have to be correct Differential differences between female friends, girlfriends and wife. “. .