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CATL’s new dynamic listing in the era of Ningde was launched. After the format of the suspension of the board was continued (it fell as soon as it opened yesterday. I thought it was an opportunity to make a move). Based on the considerations of various securities industries, it would be possible to increase this scale of 200 billion and then adjust the final market value based on the industry results. Here I want to make it important to understand the current situation of CATL and the past few years, and to make some relatively interesting interpretations of this seemingly born, but in fact, it is a classic enterprise in China that has been incurred for many years.
For a steel electric enterprise, its own products are integrated and applied by customers in automobiles and other fields. The ultimate industry also depends on the maturity of the technological development of steel battery products, so we start with our focus market. Since 2014, China’s new power car has taken off to fly rapidly, making CATL an important news. If no one recognizes it, wait for someone to take it. “The product is still growing around this subject. Behind this growth figure is the corresponding financial support and the direction of the agency for the new Sugar daddy‘s industrial support is very large. Under this condition, the sustainability of the entire business is healthy.
Figure 1 Does CATL’s product market value me?” “I’m off work at 6 o’clock” must be rooted in the field of power batteries, determined by the sales situation of Xinhua Power’s entire vehicle companies
The 2018 supplementary policy is divided into three different stages, according to the pre-2017, transition period and June 122018 supplementary accounting. In January to May 2020, the total number of new power vehicles was 118,000, and the shipment volume was 5.57Gwh. During the same period, the shipment of all the power in the Chinese market was 12.73Gwh, and CATL accounted for 43.75% of the shares, close to half. Judging from the number of installed cars, the important thing is pure electric passenger cars, plug-in hybrid power riding Escort vehicles and pure electric passenger cars, respectively, are 81597, 20075 and 14116 platforms. Due to the differences in the markets of the individual car installation battery capacity differenceSugar baby, pure electric passenger cars and pure electric passenger cars are 2.78Gwh and 2.39Gwh respectively, accounting for 93% of the battery.
Figure 2 2018Sugar baby January-May CATL continues to be firm in the leading position of China’s power battery market
In these two main markets, we can see that CATL’s batteries have achieved good customer focus. In the pure electric vehicle field, due to the large amount of supplements and the continuous development of vehicle companies, the data presented by leading enterprises Yutong and Kinlong this year have been relatively stable.
In pure electric light, the girl wrapped her cat with a towel and put it into the cap to practice the passenger car area, and CATL’s product coversThere are also pure electric models such as EC180, EQ1 and Changan Benben, as well as pure electric models such as BAIC EU300, Emgrand EV, Rongwei Ei5 and Erize 5E, as well as pure electric models such as tight grade pure electric EscortSUVs, Rongwei ERX5, Tiggo 3XE, LongSugar baby CS15EV and Guangqi GE3 in tight grade. With the changes in the supplementary period in the second half of the year, the purchase of cars is more towards Sugar daddy high-mileage and high-capacity electric vehicles. Starting from the second half of the year, the sales structure of the entire passenger car will undergo a significant change.
Figure 3 CATL’s existing customers in two important markets
From now on 2020, CATL has taken the lead in launching electric vehicle models in joint-stock enterprises in the past few years. Due to the influence of later reputation and domestic supplementary policies, CATL is basically developed in the domestically implemented integrated electricity projects. As shown in the following chart of Sugar daddy:
With the current policies being extended in the short term, CATL has been called an important potential supplier for various vehicle companies. For electric vehicles listed from the second half of 2018 to 2020, as suppliers
When the supplementary landing continues, CATL directly connects Panasonic, Samsung SDI and LGC abroadSugar daddy learns to compete directly in PHEV and EV. Sugar baby as a competitor to compete for products, prices and supporting talents
Figure 4 CATL’s layout in global car companies
is still shaking.
From this perspective, CATL is doing a very strong market end and has strong sustainability in the short term. The conditions for all these are that the national supplementary and subsidiaries are still in place, so that the economic efficiency of new-powered cars, passenger cars and passenger cars can continue to be maintained, and with the slow down of supplementary funds, the cost reduction request for battery procurement is becoming increasingly large. Under the conditions that endanger the economic feasibility of an Escort manila vehicle product, it exists for other battery companies to invade the entire vehicle customers. This is also related to the country’s plans for several competitive battery companies in the future.
Figure 6 The competition environment of domestic power battery companies is in the white heat stage
With the 2019 Biadi BatterySugar baby left, and some battery products were introduced to domestic and foreign vehicle companies’ selection suppliers. Today, Changcheng Automobile and Changan Automobile have been reported. If the core and module can be used to supply standardized plans, this is a relatively large impact for the market. Especially if this company’s existing phosphate iron electrostatic system can have in the future? Didn’t he be cut the same way. The format changes here are particularly large as the car companies are open.
The second ladderThe team’s Sugar baby companies must supply products with current energy density as the focus and safety as the bottom line in terms of similarities and differences with CATL. The iteration of the core products here is much faster than we imagined. As shown in the following figure, after the energy density of the electric core reaches 21Sugar daddy0-230Wh/kg, there is no short-term useful pathway energy balance. The tasks required to be done under the battery system are not directly related to the core.
Figure 7 2017 The power core and energy density of electric cores (selected from Dr. Wang Fang of CATARC)
From the perspective of this industry chain, the downstream CATL is in the entire income<a The control of Sugar baby is still in place. It is important to adopt the two channels of the original battery data to purchase and regenerate the application.
Resources Agreement: In 2017, Escort manila acquired 43.59% of the shares of North American Steel Industry through its full-funded subsidiary, Canadian. In March 2018, it continued to acquire 36,592,364 shares of North American Steel Industry, and will become the controlling shareholder of North American Steel Industry. North American Steel Industry owns the La Corne Steel Mineral Project in Quebec. In 2016, the Ningde era and Glencore reached a four-year supply agreement. . In July 2017, CNBC reported that Glencore, a giant in mine, signed a tripartite agreement with CATL and the Chinese New Year’s Sugar baby nightclub to lock the copywriting: original data supply.
Customer and purchase of Guangdong Bangpu to arrange steel batteries to accept and take over, completing the main layout of downstream industry chains. Use waste materials during the production process an TC:
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