Ningde era in the first quarter net profit more than expected subsidies play folded power battery will accelerate the industry reshuffle

On the evening of April 8 power battery & other; The elder brother & throughout; Ningde time release first-quarter earnings forecast, according to company belonging to net profit rose 140% to 170%, to achieve a significant rise in reason is mainly affected by the growth in domestic demand for power battery, etc.

the industry generally believe that era of ningde first-quarter earnings growth is slightly more than expected. According to the high industry research institute ( GGII) Statistics show that the total power for power battery installed in March 2019 to 5. 09 GWH, up 145% year on year, rose 127%. Among them, the era of ningde maintained about 44% of the market share.

however, ningde times in the first quarter performance is good, does not represent a power battery industry easily, subsidy policy be born in 2019, new energy vehicles chain enterprises feel great pressure.

true lithium research founder and President of ink ke analysis 'securities journal' reporter said, as the subsidy policy in 2019, during the transition of each car companies rob, will drive power battery installed a small peak, this kind of situation will continue until June 25, but after or will change, feel the pressure will be the first car companies, then to power battery enterprises.

according to a 2019 new energy subsidies, subsidies, such as the expected a greater decline, compared with 2018, 2019 pure electric passenger car subsidy rate reduced 47% The amplitude of 60%, the new energy bus subsidies - 50% 55%, by reducing the new energy vehicle - 46% 59%. At the same time, local subsidies will all exit after the transition period.

in subsidies play folded under enormous pressure, ningde era in the first quarter has reported more than expected earnings forecast. The latest data show, the ningde net nine times in the first quarter is expected to achieve ascription. 9. 2 billion yuan to 11. 1. 6 billion yuan, rose by 140% to 170%; The net profit in 8. 8. 8 billion yuan to 9. 6. 9 billion yuan range, 230% to 260% on a year-over-year basis.

for first-quarter earnings growth, ningde age think that the main benefit from the rapid development of new energy automotive industry, the domestic power battery market demand more than the same period last year increased; In addition, the company proactive guy capacity release capacity and corresponding ascension; In addition the company continued to strengthen cost control, cost of income decrease.

choi tong securities believes that influenced by delay new subsidy policy, new energy vehicles in the first quarter of 2019 to rob, which in January - New energy vehicles accumulative total sales of 14 in February. 80000 cars, 98 year-on-year growth. 9%.

but it is worth mentioning that the 2019 new subsidies TuiPo by more than 50% of new energy automotive industry chain collective price and cost pressure.

choi tong securities believes that authors internal positive synergy, ningde era by climbing capacity, accelerate push cost down; Continuously expand foreign car international circles, such as in March signed about 56 GWH of global order with Honda, accelerate out of the overseas.

it is understood that in the era of ningde yu-qun zeng, chairman of the sixth held in March this year, said the G20 lithium electricity summit in the next three years or four years, will be a power battery and industrial chain upstream and downstream enterprises of the most difficult period, especially on the authors stress, upstream and downstream enterprises will face unprecedented challenges, the need to cooperate together through the whole industry chain collaboration, can expand rapidly in this period of time, and through the product cost performance comprehensive advantage to capture market share, will be in the future in the process of the comprehensive electric market is huge dividends.

analysts pointed out that, in fact, to the requirement of power battery cost reduction at the national level as early as 2017 have taken related guidance. According to the energy saving and new energy vehicle technology route, power battery monomer cost is zero. 6 yuan/Wh, system cost 1 yuan/Wh; Cost of 0 to 2025, the monomers. 5 yuan/Wh, system cost is zero. 9 yuan/Wh; Cost of 0 to 2030, the monomers. 4 yuan/Wh, system cost is zero. 8 yuan/Wh. And at present the mainstream enterprise battery package price, although with the previous two years have fallen sharply, but the price of high performance lithium iron phosphate power battery pack is still in 1. 7 yuan/Wh to 1. 8 yuan/Wh, the price of the ternary lithium battery pack is 1. 4 yuan/Wh to 1. 7 yuan/Wh. There is still a price cut space.

it is understood that at present, including the ningde era, the mainstream of the battery technology is thinking, continue to develop high nickel technology system, to enhance the range and reduce the positive with the amount of cobalt application ideas, batteries to reduce costs, enhance core competitiveness of products.

in mo ke's view, the next three years or four years, the domestic new energy car companies and battery enterprises will be a challenging period, but in the longer run future consideration, this cycle is enterprise must face and overcome challenges. But on the other hand, ningde era has begun layout, in the overseas market, there are many overseas brand car companies have confidence in it, and gave orders, and the sense of crisis timely, to make enterprises have a more long-term development.