In 222, Contemporary Amperex Technology Co., Limited's total operating income exceeded 3 billion yuan for the first time, reaching 328.594 billion yuan, up 152.7% year-on-year, and its net profit for the whole year was 3.7 billion yuan, up 93% year-on-year.
from the macro data, Contemporary Amperex Technology Co., Limited's data is still bright, and it continues to maintain a high growth in revenue and profits. At the same time, Contemporary Amperex Technology Co., Limited also put forward a generous dividend plan, and plans to distribute cash of 25.2 yuan (including tax) to all shareholders for every 1 shares, with a total cash dividend of 6.155 billion yuan; Converting the capital reserve fund into 8 shares for every 1 shares will undoubtedly enhance investors' confidence.
According to SNE data, in 222, Contemporary Amperex Technology Co., Limited's global market share of power battery usage was 37.%, ranking first in the world for six consecutive years; The global market share of energy storage battery shipments is 43.4%, ranking first in the world for two consecutive years.
In terms of products, Contemporary Amperex Technology Co., Limited revealed in the conference call that it has also signed an agreement with BMW for cylindrical products, but the company thinks that the square battery is still a better solution.
Contemporary Amperex Technology Co., Limited's leading position is still stable in terms of revenue, profit and customers.
1
The gross profit dropped significantly year-on-year, and the battery price rose first
Even behind such a bright performance, Contemporary Amperex Technology Co., Limited is suffering from the loss of profits caused by the extraordinary gross profit.
in p>222, the gross profit margin of power batteries and energy storage batteries in Contemporary Amperex Technology Co., Limited dropped significantly from 22% and 28% in 221 to 17%.
It can be seen that in the case of a sharp rise in raw materials, Contemporary Amperex Technology Co., Limited's profits are also damaged without exception, and the gross profit margin and net interest rate are quite different from those in previous years, both in absolute value and in decline.
source: according to the annual report
under the mechanism of metal linkage, the upstream cost increase is finally transmitted to the price level of the battery system. In 222, Contemporary Amperex Technology Co., Limited ended the downward trend of battery system price, and the terminal price rose for the first time. In 222, the average selling price of power battery system increased from .78 yuan /Wh in 221 to .98 yuan /Wh.
Source: According to the annual report
However, fortunately, Contemporary Amperex Technology Co., Limited has strong bargaining power in both upstream and downstream, and the loss of profits is still within the tolerable range, and it has been greatly repaired through scale.
regarding the future trend of its gross profit margin, in the conference call, Contemporary Amperex Technology Co., Limited said that the overall expectation will be better than that in 222, and the behavior of raw materials will bring more initiative to the company.
2
The upstream layout of lithium mine is insufficient
In p>222, the revenue of battery mineral resources appeared for the first time in Contemporary Amperex Technology Co., Limited's annual report, amounting to 4.5 billion yuan, up by 116% year-on-year, but accounting for only 1.37% of the revenue.
This shows that mineral resources have not brought strong support to Contemporary Amperex Technology Co., Limited. Even if it is stronger than Contemporary Amperex Technology Co., Limited, its investment in the mineral sector is slightly insufficient.
However, in recent years, Contemporary Amperex Technology Co., Limited has made deep cooperation with high-quality suppliers in important upstream links such as anode materials, anode materials, separators, electrolytes and other materials and equipment through investment and technology empowerment, so as to ensure the safe supply and controllable cost of important raw materials and equipment.
in terms of lithium resources, Contemporary Amperex Technology Co., Limited has made breakthroughs in the lithium-bearing porcelain clay mine project in Yichun, Jiangxi, the lithium mine project in Si Nuo, Sichuan and the operation project of Bolivian salt lake.
In terms of nickel resources, Contemporary Amperex Technology Co., Limited and its partner * * * jointly invested in the construction of the whole industrial chain project from laterite nickel mining, smelting, ternary materials to batteries, which is progressing in an orderly manner; In terms of phosphorus resources, Contemporary Amperex Technology Co., Limited has also obtained the mining license of Guizhou Daping Phosphate Mine Project.
The distribution of some minerals in Contemporary Amperex Technology Co., Limited
Source: Internet data collation
It is reported that Contemporary Amperex Technology Co., Limited is still trying to find lithium mines in Africa.
In any case, Contemporary Amperex Technology Co., Limited has a certain amount of resource reserves; By arranging battery recycling, a self-circulating supply chain closed loop is also being built.
of course, with the fall of lithium price, the difficult profit decline stage is over, and the battery price is entering a downward track.
3
Production capacity, rapid growth of R&D
Leading scale and R&D investment are constantly consolidating the moat of Contemporary Amperex Technology Co., Limited.
(1) The scale of production and sales continues to expand
In p>222, the capacity, output and sales volume of lithium-ion batteries in Contemporary Amperex Technology Co., Limited reached 39GWh, 325GWh and 289GWh, of which the sales volume of power battery system was 242GWh, which doubled the capacity, output and sales volume, and the production and sales rate also continued to increase.
Contemporary Amperex Technology Co., Limited's capacity and output (GWh)
Source: According to the annual report
In addition, the capacity under construction in Contemporary Amperex Technology Co., Limited is still growing, from 14GWh in 221 to 152GWh in 222. This shows that Contemporary Amperex Technology Co., Limited's capacity distribution momentum at home and abroad is still improving.
Contemporary Amperex Technology Co., Limited has a large number of high-quality customers. In terms of power batteries, overseas, Contemporary Amperex Technology Co., Limited has deepened global cooperation with Tesla, BMW, Daimler, Stellantis, VW, Ford, Hyundai and Honda. In China, it has strengthened cooperation with SAIC, Geely, Weilai, Ideality and Yutong.
Contemporary Amperex Technology Co., Limited will build the second European factory in Hungary, with a planned capacity of 1GWh, so as to further improve the global strategic layout and help accelerate the electrification and energy transformation in Europe.
regarding people's concern about the cooperation with Ford, Contemporary Amperex Technology Co., Limited said that the specific ways of cooperation with Ford are still under negotiation and are still being smoothly implemented.
Contemporary Amperex Technology Co., Limited also revealed that the company's overseas cooperation mode is not unique, and there are new ways to follow.
in terms of energy storage batteries, Contemporary Amperex Technology Co., Limited is also increasing customer coverage in all aspects. Overseas, it cooperates with Tesla, Fluence and W? rtsil? Leading customers in the global new energy industry, such as Flexgen, Sungrow and Hyosung, carry out in-depth business cooperation in multiple regions and fields; At home, it has reached strategic agreements with the National Energy Group, the State Power Investment Group, China Huaneng, china huadian, China General Nuclear Power Group, China Three Gorges Group and China Energy Construction Group in the field of new energy.
for medium-sized batteries, Contemporary Amperex Technology Co., Limited and ATL set up a joint venture company to promote the development of domestic storage, industrial and commercial energy storage, electric second wheel, unmanned aerial vehicles, power tools and other market segments.
in addition, Contemporary Amperex Technology Co., Limited has promoted integrated innovation in several market application scenarios, covering smart mines, power exchange services, optical storage and inspection, smart ports, electric ships and other fields.
these customers and businesses are widely distributed, which has laid a foundation for the sustained and stable development of Contemporary Amperex Technology Co., Limited.
(2) R&D investment is still doubling
In terms of R&D, Contemporary Amperex Technology Co., Limited, which is expanding in scale, has not relaxed its investment in R&D.. In 222, Contemporary Amperex Technology Co., Limited's R&D investment reached 15.5 billion yuan, doubling year-on-year.
By the end of 222, there were 16,322 R&D technicians in Contemporary Amperex Technology Co., Limited, including 264 with doctoral degrees and 2,852 with master's degrees.
Large-scale R&D investment has brought technological leadership. At present, Contemporary Amperex Technology Co., Limited has 5,518 domestic patents and 1,65 overseas patents, and 1,54 domestic and overseas patents are being applied for.
Source: According to the annual report
Now, Contemporary Amperex Technology Co., Limited has achieved breakthroughs in sodium ion batteries, Kirin batteries, condensed batteries and other products, and Contemporary Amperex Technology Co., Limited is promoting the industrialization of sodium ion batteries in 223, and condensed battery products are also being discussed and cooperated with customers.
Contemporary Amperex Technology Co., Limited also revealed that both Sodium Power and M3P will be delivered in mass production this year, but the quantity depends on the customer's demand.
at present, Contemporary Amperex Technology Co., Limited's leading position remains the same. The huge scale of production and marketing and R&D investment have helped Contemporary Amperex Technology Co., Limited maintain its leading position in the industry, and also played an escort role in its long-term development.
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