Whoever gets the battery, gets the new energy?
Recently, SNE Research released the 2021 global power battery installed capacity ranking.
First look at the broader market, in 2021, the total installed capacity of global power batteries is 296.8GWh, an increase of 102% year-on-year.
Looking at the rankings, among the several "star enterprises" we care about most, CATL once again won the 1st place, and BYD ranked 4th.
LG New Energy from South Korea won No. 2, and Panasonic from Japan ranked No. 3.
The situation is very good, and we will disassemble and analyze it below.
★ Ningde era: the fifth consecutive crown
This is the fifth consecutive year that the Ningde era has reached the top of the list.
In 2021, the installed capacity of power batteries in the Ningde era was 96.7GWh, an increase of 167.1% year-on-year, and the market share rose from 24.6% to 32.6%, and the growth momentum was very impressive.
In the 2021 performance report released, the net profit of catheter era is also "rising". It is expected that CATL will achieve a net profit of 14 billion yuan to 16.5 billion yuan in 2021, an increase of 150.75% to 195.52% year-on-year.
According to the previously announced third-quarter financial report, the net profit of CATL in the fourth quarter alone can reach 6.249 billion yuan to 8.749 billion yuan, an increase of 91% -167% from the previous quarter.
Ningde era "earn crazy"! Because the wind of the times has rolled up, the penetration rate of new energy vehicles and energy storage markets will increase in 2021. As an industry leader, CATL was the first to enjoy dividends, and battery sales grew steadily.
However, the Ningde era was not all smooth sailing. Since the beginning of the year, the stock price of the Ningde era has been constantly pulling back, falling by 17% at the lowest time, and the market value has evaporated by 228.5 billion yuan. There was also a series of rumors, such as the collapse of talks with Tesla, which once forced the Ningde era to "call the police", saying that someone maliciously slandered.
So, why did the stock price fall? On the one hand, the market value of the Ningde era has begun to enter the medium- and long-term reasonable range, and the previous crazy emotions are slowly squeezing the water.
On the other hand, the NINGD era must face many business risks. In the near future, the price of upstream raw materials has risen, raising the cost of their products; in the long run, more and more car companies do not want to be dominant in the Ningde era, and the alliance tied to the entire automotive industry is not solid.
On one side of the sea, on the other side of the flames, but the crown of the king of the Ningde era is still in hand. For the next tomorrow, we keep looking forward to it.
★ LG New Energy: Listed on the Korea Stock Exchange
LG New Energy has a title, "Millennium Old Two". But this global runner-up in the field of power batteries will usher in a new look in 2022.
Here is a background, LG New Energy experienced many twists and turns, such as the "recall incident", and finally landed on the Korean Stock Exchange on January 27, 2022.
On the day of the listing, LG New Energy was bullish all the way, soaring from the issue price of 300,000 won (about 1,600 yuan) per share to 598,000 won (about 3,200 yuan), almost doubling (in recent times, LG New Energy's stock price has also fallen).
But in terms of overall momentum, LG New Energy may become a key opponent in the next stage of the Ningde era.
In 2021, the installed capacity of LG new energy power batteries was 60.2GWh, an increase of 75.5% year-on-year.
It is worth noting that in terms of net profit, LG New Energy has a trend of surpassing the Ningde era. Let's refer to the financial report in the first half of 2021, LG New Energy revenue is about 51.83 billion yuan, net profit is about 6.42 billion yuan, cathedale era revenue is 44.075 billion yuan, net profit is 4.484 billion yuan.
General speculation is that even if it is relaxed to the entire 2021, the installed capacity market share of the Ningde era is significantly higher than that of LG New Energy, but the net profit may be lower than that of LG New Energy.
There are two reasons for this:
1, LG new energy mainly do higher price ternary lithium batteries, especially the installed capacity of 811 batteries is quite high, and the Ningde era produced more lithium iron phosphate batteries, the price is low, the profit is relatively lower.
2, LG new energy business includes both power batteries, energy storage batteries, but also includes consumer batteries for mobile phones, but the Ningde era does not involve consumer batteries, so in terms of profit statistics, Ningde era does not have an advantage.
There is another difference, the main market of LG New Energy is in other countries, while the main market of the Ningde era is in China.
In the current context, China is one of the key markets for new energy in the world. Those who win the Chinese market can see the whole world.
So, the question is, can LG New Energy expand all the way in the Chinese market? The answer is, it's a bit harder.
Although many car companies are also seeking alternatives outside the Ningde era, LG New Energy does not have obvious price and technical advantages. On the contrary, everyone is more inclined to look for cooperation opportunities with the second echelon such as China New China Innovation Aviation and Honeycomb Power.
This is another law in the power battery ranking list, and Chinese battery companies occupy more than half of the country.
★ Panasonic: Bundle Tesla
Compared with LG New Energy, Panasonic's momentum in recent years has weakened.
In 2021, Panasonic's battery installed capacity was 36.1GWh, an increase of 33.7% year-on-year, which is low in the growth rate of the ranking list. Correspondingly, the market share of Panasonic batteries also fell from 18.4% to 12.2%.
Looking back at previous developments, Panasonic batteries once occupied 40% of the global market share, thanks to the close binding of Panasonic and Tesla.
However, this binding later became a gap. To put it simply, Panasonic and Tesla made a little unpleasant trouble.
"Sandpipers and clams compete, fishermen win", LG Chem began to pry the foot of the wall, taking advantage of the empty window period, successfully dug up Tesla's large orders, including Tesla's domestic Model 3 battery demand in China.
Until the formation of today's pattern, the Ningde era ranked first, LG new energy climbed second, and Panasonic could only retreat to third.
Looking further back, the pain period of Panasonic batteries will continue. On the one hand, the battery business is not the main business of Panasonic in Japan, or even the terminal business, accounting for only 5% of the company's overall revenue, and the degree of attention is limited; on the other hand, Panasonic battery lacks excellent cost control capabilities, and the problem of business loss is more serious.
It is really the end of an era, the rebirth of another era.
★ BYD: A million this year?
In 2021, BYD's installed power battery capacity was 26.3GWh, an increase of 168.4% year-on-year.
It's a big deal! The reason is simple, BYD's new energy sales have reached a new level.
In 2021, BYD sold 730,000 new cars in the whole year, an increase of 75.4% year-on-year. New energy models were the main source of sales, reaching 593,000 units in the whole year, up 231.6% year-on-year.
The EV pure electric model sold 320,000 units in the whole year, and the DM plug-in model sold 273,000 units in the whole year. These vehicles all need the production capacity supply of power batteries.
The most recognizable point is that BYD has long opened its mind, and its power battery is not limited to the supply of this brand, but for the entire industry.
Moreover, its Fudi battery undertakes the battery business, gradually runs independently, and plans to go public, and the whole development trend is getting better and better.
Previously, it was reported that the domestic Tesla was considering introducing BYD's "blade battery". However, this news has not been recognized by both sides of the business, and we are waiting for follow-up progress.
Looking forward to 2022, BYD's vehicle sales may take a new level.
In January this year, BYD sold 95,180 new cars and 91,736 new energy models.
The "Year of the Tiger" seems to indicate that BYD's goal of impacting "1 million vehicles per year" may eventually land. At that time, BYD's ranking on the list of installed power batteries may make another breakthrough.
★ Write at the end
The performance of the companies that follow the list will not be repeated one by one.
There is a sentence that sums up very well, in the first decade of the 21st century, the pattern of global power batteries is "Korean encroachment on Japan", and in the second decade, the global power battery pattern is "China encroaches on Japan and South Korea".
The general trend will continue, and the pattern will continue to evolve.
The author of this article is Kick Car Gang Cao An