Big fish eat small fish, small fish eat shrimp rice. In business ecology, winners are eating a phenomenon. The new energy car lithium battery is also.
With the relatively over-power lithium battery production, the lithium-electric industry enters the washing period, and the large manufacturers have gradually escape the market share of resources, technological progress, and cost reduction, and the low-end repeated production of small manufacturers have been eliminated. The industry presents strong Strong feature. For example, in the first half of 2017, CATL, BYD, Watma, Guoxuan’s high-tech, Tianjin Zhizhen and other major dynamic lithium battery manufacturers continue to expand, and the total market share (CR5) has reached nearly 70%.
. Under the case where the concentration of lithium battery is getting higher, the upstream lithium-e-equipment manufacturer cannot prevent bigger customers..
This dependency is clearly two-sided: on the one hand, it has promoted the performance of the expressway, on the other hand, the high requirements of the production equipment and the strong position have also brought new challenges.. How to use big customers to accelerate their own business evolution while preventing customer dependence, it has become a problem in front of many lithium battery manufacturers.
. Large customers help lithium electrical equipment manufacturing tending lithium electrical equipment is divided into slurry agitation, polar coating, polar roll pressure, pole slice cut, pole film, pole die cut, wound, laminated, housing, Bake, welding, liquid, sealing, cleaning, distribution, chemical, detection, etc., many links, market relative dispersion.
With the expansion of lithium battery production, the production line is transformed, the manufacturer of lithium battery has ushered in the development of the opportunity.. According to the measurement of Sky, 2017-2020, the total investment in the global dynamic lithium battery will reach 50.
3 billion, 75.5 billion, 10.5 billion and 136.
1 billion, and the annual complex increase is expected to be 39%.. However, the fierce competition in the end of the lithium-ion battery is different, in the manufacturing end of the lithium ion battery equipment, due to the high market segmentation, the competition is not so fierce.
In fact, the market share of the leading company in each sub-market is not very high, such as 2015, winning technology, Yakang, pilot intelligence, Titan new motivation, CCIG shares respective market share 4.2%, 2.6%, 4.
6%, 1.2%, 2.4% respectively, respectively.
. For these companies, it is a very effective practice to adopt a big customer strategy..
The reasons are two: 1. Large lithium-ion battery companies are more suitable for automation equipment, and the purchase volume is large..
The leading companies in the lithium battery segment generally have higher technical levels and process levels, which take longer in the field of segment, downstream manufacturers will not easily replace upstream suppliers, so the latter can get stable endogenous Undiscovered ability; 2, lithium-ion battery equipment is a significant characteristic of non-standardization, in other words, downstream lithium-selling manufacturers hope that upstream equipment manufacturers can achieve negative impacts of different manufacturers in front of their “private custom”. Therefore, the two have a strong viscosity, and the strong combined trend is more obvious..
Therefore, with the promotion of the concentration of the lithium battery industry, the upstream lithium battery supplier has also obtained a rapid development.. Take the new three-board company A Li shares as an example.
It is a lithium-e-equipment manufacturer in Dongguan, important production of lithium-ion battery packaging equipment. Its top three major customers include CATL, BYD, ATL, etc..
In the first half of this year, Ali Shares achieved business income for 236 million yuan in the first half of this year, up 173.92% year-on-year; net profit 281.881 million yuan, up 242.
65% year-on-year. Revenue and net profits have been doubled. In this regard, Ali Shares explained that it is important because of the new energy batch order and excavation of new customers at the end of 2016.
. For example, the wins laser in the main laser welding equipment recorded operating income of 296 million yuan in the first half of the year, up 57.68% year-on-year; net profit of 420.
669 million, up 18.67% year-on-year. The main battery test equipment reached 79.
8888 million yuan, up 152.92% year-on-year; net profit 158.21 million yuan, up 64.
37% year-on-year. The risk of customer-dependent, although the high rise of lithium-e-equipment manufacturers is based on the cooperation with big customers, it must be seen that big customers are also a double-edged sword, bringing the risk-dependent risk..
(1) The top five customers of the customer concentration in 2016 were as follows: It can be seen that the top five major customers account for 57.54%, more than half. Among them, ATL-based (Ningde New Energy, Dongguan New Energy) and CATL added up to 39.
80%.. The customer concentration of Rui Neng Shares is more obvious: as shown in the figure above, the top five customers of Rui Neng share more than 70%, of which the first large customer approaches half.
. Nakornol’s important customers are as follows: Nakornol’s top five customers have also reached 55.50%.
. (2) From the technical challenge, in addition to the risk of customer concentration, large customers’ performance and quality requirements of equipment will only be higher and higher, and the lithium-industries must introduce automation production equipment, improve production process, and improve the battery. Quality, this will therefore have a large number of low-end lithium-ion battery production equipment manufacturers withdraw from the lithium-ion battery market.
. At present, the equipment with high automation is important from Japan, Japan CKD, KOEM and other foreign companies such as Koem and other foreign companies, domestic equipment in technology, manufacturing process, etc., the gap between the similar products, etc.
, the alternative effect is not obvious in a short period of time.. This brings great challenges to domestic lithium-ion battery production equipment companies.
. Regarding this situation, the upstream companies are also actively seeking transformation, such as promoting the competitiveness of new products, or extends to other lithium-e-equipment other aspects, and can reduce the risk of single customer dependence..
Or CITIES Taking A Li Shares: Improve Technology A Li Shares 2017H1 R & D cost is 173.917 million yuan, up 123.81% year-on-year, of which power lithium battery intelligent automatic assembly line / flexible soft package power lithium battery automatic assembly line / chemical capacity Machine / battery pole laser cutting and laminate induction, R & D expenditure is 428.
27 / 466.45 / 239.94 / 137.
27 million yuan, respectively.. The diversified product line, extends to the other link of the lithium equipment to develop research and development of automotive parts assembly automation equipment, and has achieved initial results; extended power lithium batteries ModulePack; start layout dynamic lithium battery critical parts, investment is set up Chizhou Jun Zhi, Dongguan Junyi and other subsidiaries to engage in the roof of the power lithium battery, the research and development and production of the housing.
Other company practices are also relatively similar, such as Rui Neng Shares raised 123.87% in the first half of this year, and Nakornor specializes in technical cooperation with internationally renowned companies such as Japan and Japan, and universities. Unlocking lasers is an increase in laser, automotive laser welding process.
(3) The risk of the cash flow is more strong in the supply chain, so it will be transmitted to the larger funding pressure of upstream equipment.. It can be seen that the ratings of the suppliers of each equipment supplier and the ratio of business income are much lower than that of Rui Neng shares.
. However, the reputation of larger vendors is better, and it is generally not (except for LeTV), so these may be the possibility of bad debts is still relatively small..
Despite this, too high accounts will be stressful on cash flow.. Equipment manufacturing is more dependent on sufficient cash flow, so there will be some risks on operations.