Musk used Tesla to set off a new energy era. On the cusp of the new era, Contemporary Amperex Technology Co., Limited used power batteries to strive for its own "solitary world".
Recently, when I was searching the information of well-known domestic investment institutions, I found a company named "Contemporary Amperex Technology Co., Limited", which frequently appeared in the investment case lists of many well-known investment institutions. Gao Lin Capital invested in it, deep venture capital invested in it, Junlian Capital invested in it, Chaos Investment also invested in it, in addition to Morgan, Honda, UBS, Guotai Junan and many other capital tycoons ...
This new energy technology co., Ltd. (CATL) named "Contemporary Amperex Technology Co., Limited" is the first driving force for China to have international competitiveness. Although its name may not be as well-known as Ali and Huawei, friends who play stocks or are keen on new energy must be jealous of this "fairy company" in the A-share market.
In 218, Contemporary Amperex Technology Co., Limited landed on the Shenzhen Stock Exchange, and the issue price was more than 3 yuan at that time. However, only two years later, Contemporary Amperex Technology Co., Limited's share price soared. Take the other day as an example. On October 9, the first day of the opening of the A-share market in October, Contemporary Amperex Technology Co., Limited's share price jumped by 7.49%, with a closing price of 22.487 yuan and a market value of 523.8 billion yuan, a record high.
what supports its soaring share price is, of course, its brilliant performance in the field of new energy, especially power batteries: as an important battery supplier of Tesla and the number one power battery manufacturer in China, Contemporary Amperex Technology Co., Limited occupies the second place among the global power battery manufacturers of electric vehicles with a market share of 24%, while the number one South Korean LG Chem accounts for 25%.
Since its establishment in December, 211, it took Contemporary Amperex Technology Co., Limited less than nine years to become the top industry in the world. What secrets are hidden behind this rocket-like development speed?
1
Born in a "noble family"
Contemporary Amperex Technology Co., Limited is called Contemporary Amperex Technology Co., Limited New Energy Technology Co., Ltd., or CATL for short. It is actually a power battery department born out of ATL New Energy Technology Co., Ltd. (ATL for short), and most of its executives are from ATL.
Zeng yuqun, the founder of Contemporary Amperex Technology Co., Limited, worked as the director of research and development in SAE, a wholly-owned subsidiary of Japanese TDK Group. This company is a well-known new material company, mainly producing hard disks, magnetic heads, digital video recorders, etc., and its products are supplied to international digital giants such as Samsung, Toshiba, Fujitsu, Hitachi and Western Digital.
In 1999, Zeng Yuqun resigned and started a business, and together with others, he set up a company in Hong Kong called Amperex Technology Limited, also known as ATL. And this ATL, after purchasing the patent authorization of polymer lithium-ion battery from Bell Laboratories, successfully broke the fatal defect that lithium batteries are easy to inflate and bulge after repeated charging, and successfully counterattacked. Since 21, it has become a battery supplier for Apple.
with the gradual development of apple, ATL has also become a global leader in the consumption of lithium batteries. ATL li-polymer has been ranked first in the world for eight consecutive years since 212, and apple, Huawei, Xiaomi, OPPO and VIVO are all customers of ATL.
however, as early as 25, when ATL's business was booming, a shareholder withdrawal event triggered the change of ATL's equity. In the end, the old owners of the three entrepreneurs, Japan TDK Group, acquired 1% equity of ATL for 1 million US dollars.
later, Contemporary Amperex Technology Co., Limited was a power battery division that was independently split from ATL.
2
Standing at the "window"
In 28, China government began to support the new energy automobile industry, and ATL management smelled the opportunity and decided to set up a power battery department. However, at that time, due to legal restrictions, wholly foreign-owned enterprises could not produce power batteries, so Zeng Yuqun advocated the independence of the R&D department, and in 211, Contemporary Amperex Technology Co., Limited New Energy Technology Co., Ltd. was established under the leadership of Zeng Yuqun.
In 212, in order to develop its Zino pure electric vehicle, BMW Brilliance invited domestic suppliers of power batteries, and Contemporary Amperex Technology Co., Limited entered BMW Brilliance's field of vision by virtue of his "father's" company's long experience in the field of batteries, and was finally selected successfully, becoming the first domestic manufacturer to sell power batteries to a joint venture at that time, laying an experience and foundation for Contemporary Amperex Technology Co., Limited's subsequent cooperation with car companies.
in the following years, with the strong support of the government, China's new energy automobile industry grew explosively. On the one hand, in order to resolve the energy crisis, the state subsidizes and supports new energy sources, such as "vehicle sales subsidy"; On the other hand, it also directly gives policy protection.
In May 21, the National Patent Reexamination Board of China made an invalid decision on the core patent of Ferrous lithium phosphate previously applied by Canadian H-Q company, saving the lithium battery industry in China.
In the 211 edition of the Catalogue for the Guidance of Foreign Investment Industries, it is clearly restricted for wholly foreign-owned enterprises to produce automobile power batteries. This has won valuable development time for China lithium battery industry with weak technical strength.
in June 216, the Ministry of industry and information technology issued the fourth batch of "Catalogue of Approved Battery Suppliers", and all the 32 lithium battery companies that passed the certification were China companies. LG Chem, Samsung SDI and South Korea SKI are excluded, and electric vehicles equipped with lithium batteries of Korean companies are not subsidized by the state. China lithium battery enterprises have once again gained valuable opportunities for development.
a series of strong support from national governments have protected the lithium battery industry in China, especially in Contemporary Amperex Technology Co., Limited. In the same period, BYD, also a competitor, chose lithium phosphate battery with limited energy density instead of higher-end ternary lithium battery, which created a good opportunity for Contemporary Amperex Technology Co., Limited's success.
In this way, with excellent battery performance and stable quality control, Contemporary Amperex Technology Co., Limited has achieved a 41% share of China in 218 from a new company, and the second-ranked BYD has a 2% share.
3
Powerful "circle of friends"
Matthew said in the Gospel, "Whatever is less, even what he has should be taken away. If you have more, give it to him, and tell him that the more the better. " Under the influence of Matthew effect, Contemporary Amperex Technology Co., Limited soon became the dominant player in the industry. Take a look at Contemporary Amperex Technology Co., Limited's circle of friends: all head car companies, such as Daimler, Hyundai, Jaguar Land Rover, Peugeot Citroen, Volkswagen and Volvo, are all customers of the company, and even Tesla, which has been in the limelight recently.
on February 3rd this year, Contemporary Amperex Technology Co., Limited announced that it would supply lithium-ion power battery products to Tesla. As soon as the news came out, the market value of Contemporary Amperex Technology Co., Limited went straight to 3 billion yuan. According to this contract, the supply of batteries in Contemporary Amperex Technology Co., Limited is not less than 4% of the planned production capacity in Tesla Giga Shanghai (Phase I). This will bring Contemporary Amperex Technology Co., Limited an expected increase of 2% in shipments.
In this way, Contemporary Amperex Technology Co., Limited has rapidly grown into the largest power battery enterprise in the world, and it has built a "circle of friends of domestic automobile enterprises" including mainstream traditional automobile enterprises and new automobile enterprises such as SAIC, GAC, Geely, Dongfeng, FAW, Weilai and Weimar.
Then how was this powerful circle of friends established? Apart from the call of Ningde's own strength, it is inseparable from its efforts.
in March, 215, the Ministry of industry and information technology issued a "specification and conditions for automotive power battery industry" and listed a "white list of power batteries" to stimulate the development of new energy vehicles in China. Its core content is summed up in one sentence: the power battery is based on energy density, and the power battery manufacturers in China are the main lineup.
This policy has ushered in its true spring in Contemporary Amperex Technology Co., Limited. Within two years, Contemporary Amperex Technology Co., Limited won the first place in the global power battery shipment list and topped the list.
in 219, the state cancelled the "white list" to protect the domestic power battery industry. In order to cope with the disappearance of the policy dividend, Contemporary Amperex Technology Co., Limited has set up joint ventures with major car companies to carry out "bundled sales", while on the other hand, it is also vigorously increasing the upstream and downstream of the industrial chain.
At first, it cooperated with SAIC. At present, many car companies such as FAW, GAC, Dongfeng, Geely and SAIC cooperate by establishing joint ventures with Contemporary Amperex Technology Co., Limited. Among them, Contemporary Amperex Technology Co., Limited holds 51% of the shares in the joint venture company established with FAW and Geely, and holds a controlling stake.
on August 11th this year, Contemporary Amperex Technology Co., Limited announced that the company intends to invest in high-quality listed enterprises in the upstream and downstream of domestic and overseas industrial chains by means of securities investment, with a total investment of no more than 19.67 billion yuan. The first order is the leading intelligence of its largest equipment supplier. Through this investment, Contemporary Amperex Technology Co., Limited tries to make up for the shortcomings of imperfect supporting facilities and insufficient supply of key resources in the industrial chain, strengthen cooperation and coordination in the industrial chain, and improve the efficiency of resource utilization.
"Good wind, with its strength, sent me to Qingyun". Since its establishment in 211, Contemporary Amperex Technology Co., Limited has surpassed a number of industry leaders in less than ten years and won the title of global power battery. Along the way, with the rapid development of new energy and the support of policies, it has taken advantage of the right time, the right place and the right people, and has soared into a unicorn enterprise with a market value of 1 billion. In the vast future market of China automobile enterprises, Contemporary Amperex Technology Co., Limited's voyage will continue to create new glories!