Ningde era is not a foam.

(Mei Xukang)

On April 29, # Ningde times made a net profit of 1.493 billion yuan in the first quarter # on the microblog hot search list.

Ningde times wanted to make a low-key financial report before the May Day holiday. Unexpectedly, it became a hot spot for a while.

In a wail, some netizens commented: it’s really not profitable to do industry. A leading enterprise was busy making profits in the first quarter, but it didn’t earn much by live broadcasting.

Ningde era is really sad to be evaluated by this. After all, it bears the reputation of “ningwang” in the capital market.

As the darling of the new energy era, it took only 10 years for Ningde era to become a leading enterprise with a market value of more than trillion. In May last year, the market value of Ningde times officially exceeded 1 trillion yuan and once reached 1.6 trillion yuan by December. It is only three years since it was listed on the gem.

Although shortly after the highlight, the market value of Ningde era continued to decline, and its market value decreased by nearly 700 billion yuan in less than half a year. Fortunately, since April 27, the market value of Ningde era began to rise to a certain extent. As of the closing on April 29, the market value of Ningde era increased to 954.13 billion yuan, which is still a giant in the capital market.

In 2021, the revenue of Ningde era, with a market value of trillion, exceeded 100 billion for the first time, and the net profit attributable to the shareholders of listed companies was 15.93 billion yuan, with a year-on-year increase of 185.3%. Although the profit is not high, it has exceeded the sum of the net profits of BYD, great wall and Geely in 2021.

In the first quarter of 2022, due to the rising cost of raw materials and other factors, the net profit of Ningde times decreased by 23.6% year-on-year, which was only enough for Weiya to pay a tax evasion fine.

It seems to be a great irony for the new energy industry to do business, increase income without increasing profits, or even make money by selling goods live.

It is not the same as the development of China’s Great Wall Auto Industry and Mingzhu industry, but rather the responsibility of China’s Great Wall auto industry.

Ningde era: Thank Tesla

The week before the release of the first quarter financial report, Ningde times released the financial report of 2021.

According to the data, in 2021, Ningde era achieved a total operating revenue of 130.36 billion yuan, a year-on-year increase of 159.1%.

Among them, the revenue of power battery system business was 91.49 billion yuan, accounting for 70.2%, with a year-on-year increase of 132.1%; The revenue of energy storage system and lithium battery materials accounted for a relatively small proportion, but the increase was considerable. The revenue was 13.62 billion yuan and 15.46 billion yuan respectively, with a year-on-year increase of 601% and 350.7%.

In terms of profits, Ningde era has reached a new high.

The net profit of 15.93 billion yuan is enough to match the sum of the profits of many leading car enterprises. Ningde times has proved with data that in the new energy vehicle market, it is more profitable not to build a car than to build a car.

In the new energy vehicle era of “one battery and half a car”, power batteries occupy a core position in the industrial chain, and Ningde era is the leader in this core position.

According to SNE research data, the global power battery consumption in 2021 was 296.8gwh, with a year-on-year increase of 102.3%. Among them, Ningde era accounts for 32.6% of the installed capacity of global power batteries, ranking first in the world for five consecutive years.

In the era of new energy vehicles, Ningde era firmly occupies the upper outlet of the industrial chain and has become a loyal partner of new energy car makers, such as Hyundai, Ford, Daimler, Great Wall Motor, ideal, Weilai and other car enterprises.

But what Ningde era should thank most is Tesla.

In 2021, Tesla became the largest single customer of Ningde times, with a single delivery amount of 13.04 billion yuan.

The fly in the ointment is that the gross profit margin of Ningde era has declined.

In 2021, the gross profit margin of Ningde era was 26.28%, down 1.5% year-on-year. Among them, the gross profit margin of power battery system and energy storage system decreased by 4.6% and 7.5% respectively year-on-year, mainly due to the rise of raw material costs.

In 2022, the impact of rising raw material costs continues, and the decline of net profit is mainly due to this.

Under the influence of factors such as rising raw material costs, both upstream and downstream of the new energy vehicle industry chain have been impacted. New energy vehicle enterprises began to look for more alternative power battery suppliers while raising prices one after another.

Second tier energy manufacturers have accelerated the pace of catching up with Ningde era.

Is “de Ninghua” feasible?

Talking about the rich history of Ningde era is inseparable from BMW.

“Without BMW, there would not be today’s Ningde era.” Zhu Lingbo, project director of Ningde times BMW, once said.

In 2011, brilliance BMW, a joint venture of BMW in China, sought power battery suppliers for zhinuo 1E and BMW 5-series plug-in hybrid models. BMW extended its olive branch to Ningde era, which was just established at that time.

At that time, the main reason why BMW chose Ningde era was to choose a new local Chinese supplier and get rid of its dependence on Panasonic, Samsung and other battery manufacturers.

Ningde era has become one horse in China. Car companies feel the threat and become more and more uneasy.

Power battery is to electrification, just as automatic driving is to intelligence. Car enterprises will not put eggs in the same basket to avoid being stuck in the throat by suppliers in the future.

Today, BMW’s list of battery suppliers has added Yiwei lithium energy and northvolt AB in Sweden.

Many partners of Ningde era also began to look for “plan B” to enrich the supplier reserve and prepare enough ammunition for the accelerated arrival of new energy vehicles.

For example, China Innovation Airlines replaced Ningde era and became the first supplier of GAC new energy; The medium and large SUV G9 released by Xiaopeng automobile last November will use Xinwangda’s 4C power battery.

According to the data of China automotive power battery industry innovation alliance, in 2021, Ningde era ranked first among China’s power battery enterprises with a loading capacity of 80.5gwh, accounting for 52.1% of the market.

When an enterprise’s market share exceeds 50%, it is not conducive to the benign development of the market, which will weaken the bargaining power of upstream and downstream enterprises, compress the profit space, and the development of the industrial chain will also be controlled by others.

The power battery market spawned by new energy can not be swallowed by a Ningde era.

Power battery market