From the macro data, the data of Contemporary Ampere Technology Co., Ltd. is still bright, maintaining a high growth in revenue and profits. At the same time, Contemporary Ampere Technology Co., Ltd. has also put forward a generous dividend plan, and plans to distribute cash of 25.2 yuan (including tax) to all shareholders for every 65,438+00 shares, with a total cash dividend of 665,438+55 million yuan; Converting capital reserve into 8 shares for every 10 share will undoubtedly enhance investors' confidence.
According to SNE data, in 2022, the global market share of power battery usage of Contemporary Ampere Technology Co., Ltd. was 37.0%, 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 Ampere Technology Co., Ltd. revealed in a conference call that it also signed an agreement with BMW for cylindrical products, but the company believes that square batteries are still a better solution.
No matter from the aspects of income, profit and customers, the leading position of contemporary Ampere Technology Co., Ltd. is still stable.
0 1
Gross profit dropped sharply year-on-year, and battery prices rose first.
Even behind such brilliant achievements, Contemporary Ampere Technology Co., Ltd. is also suffering from the loss of profits caused by the abnormal reduction of gross profit.
In 2022, the gross profit margin of power battery and energy storage battery of Contemporary Ampere Technology Co., Ltd. dropped sharply from 22% and 28% of 202 1 to 17%.
It can be seen that the profits of Contemporary Ampere Technology Co., Ltd. are also damaged without exception in the case of a sharp rise in raw materials. Compared with previous years, gross profit margin and net interest rate are quite different in both absolute value and 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 2022, Contemporary Ampere Technology Co., Ltd. ended the downward trend of battery system price, and the terminal price rose for the first time. In 2022, the average selling price of power battery system rose from 0.78 yuan /Wh of 202 1 to 0.98 yuan /Wh.
Source: According to the annual report.
Fortunately, Contemporary Ampere Technology Co., Ltd. has strong bargaining power both upstream and downstream, and its profit loss is still within the tolerable range. At the same time, it has been greatly restored through scale.
Regarding the future trend of its gross profit margin, in the conference call, Contemporary Ampere Technology Co., Ltd. said that the overall expectation will be better than 2022, and raw materials will bring more initiative to the company.
02
Insufficient upstream layout of lithium ore
In 2022, the revenue of battery mineral resources first appeared in the annual report of Contemporary Ampere Technology Co., Ltd., amounting to 4.5 billion yuan, up by 65,438+065,438+06% year-on-year, but only accounting for 65,438+0.37% of the revenue.
This shows that mineral resources have not brought strong support to contemporary Ampere Technology Co., Ltd.. Even if it is better than contemporary Ampere Technology Co., Ltd., its investment in mineral field is slightly insufficient.
However, in recent years, Contemporary Ampere Technology Co., Ltd. has conducted in-depth cooperation with high-quality suppliers in the important upstream links of materials and equipment such as cathode materials, anode materials, separators and electrolytes through investment and technology empowerment to ensure the safe supply and controllable cost of important raw materials and equipment.
In terms of lithium resources, Contemporary Ampere Technology Co., Ltd. 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 Ampere Technology Co., Ltd. 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 Ampere Technology Co., Ltd. also obtained the mining license of Daping Phosphate Mine Project in Guizhou.
Distribution of some minerals in Contemporary Anpu Technology Co., Ltd.
Source: network data collation.
It is reported that Contemporary Ampere Technology Co., Ltd. is still trying to find lithium mines in Africa.
In any case, Contemporary Ampere Technology Co., Ltd. has a certain resource reserve; By arranging battery recycling, a self-circulating supply chain closed loop is also being established.
Of course, with the decline of lithium price, the difficult stage of profit decline has ended, and the battery price is entering a downward track.
03
High-speed growth in production capacity and research and development.
The leading scale and R&D investment are constantly consolidating the moat of contemporary Ampere Technology Co., Ltd.
(1) The scale of production and sales continues to expand.
In 2022, the capacity, output and sales volume of lithium-ion batteries of Contemporary Ampere Technology Co., Ltd. reached 390GWh, 325GWh and 289GWh respectively, 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 continued to increase.
Capacity and output of Contemporary Ampere Technology Co., Ltd. (GWh)
Source: According to the annual report.
In addition, the capacity under construction of Contemporary Ampere Technology Co., Ltd. is still growing, from 202 1 140GWh to 2022 152GWh. This shows that the capacity layout momentum of contemporary Ampere Technology Co., Ltd. at home and abroad is still improving.
Contemporary Ampere Technology Co., Ltd. has a large number of high-quality customers. In terms of power batteries, overseas, Contemporary Ampere Technology Co., Ltd. has deepened global cooperation with Tesla, BMW, Daimler, Stellantis, Volkswagen, Ford, Hyundai and Honda. In China, it has strengthened cooperation with SAIC, Geely, Weilai, Ideality and Yutong.
Contemporary Ampere Technology Co., Ltd. will build a second European factory in Hungary with a planned production capacity of 65,438+000 GWh to further improve the global strategic layout and help accelerate the electrification and energy transformation in Europe.
Regarding the cooperation with Ford that people care about, Contemporary Ampere Technology Co., Ltd. said that the specific cooperation mode with Ford is still under negotiation and is still being implemented smoothly.
Contemporary Amperex Technology Co., Ltd. also revealed that the company's overseas cooperation model is not unique, and there are new ways behind it.
In terms of energy storage batteries, Contemporary Ampere Technology Co., Ltd. is also increasing customer coverage in all aspects. Overseas, with Tesla, Fluence, W? rtsil？ Flexgen, Sungrow, Xiaoxing and other leading customers in the global new energy industry have carried out in-depth business cooperation in many regions and fields; At home, it has reached strategic agreements in the field of new energy with National Energy Group, State Power Investment Group, China Huaneng, china huadian, China General Nuclear Power Group, China Three Gorges Group and China Energy Construction Group.
For medium-sized batteries, Contemporary Ampere Technology Co., Ltd. and ATL set up a joint venture company to promote the development of domestic energy storage, industrial and commercial energy storage, electric second wheel, unmanned aerial vehicles, power tools and other market segments.
In addition, Contemporary Ampere Technology Co., Ltd. also promotes integrated innovation in several market application scenarios, covering smart mines, power exchange services, optical storage and detection, smart ports, electric ships and other fields.
These customers and businesses are widely distributed, which laid the foundation for the sustained and stable development of contemporary Ampere Technology Co., Ltd.
(2) R&D investment is still doubling.
In terms of R&D, Contemporary Ampere Technology Co., Ltd., which is expanding in scale, has not relaxed its investment in R&D. In 2022, the R&D investment of Contemporary Ampere Technology Co., Ltd. reached 654.38+05.5 billion yuan, which continued to double year-on-year.
By the end of 2022, Contemporary Ampere Technology Co., Ltd. had 65,438+06,322 R&D technicians, including 264 doctors and 2,852 masters.
Large-scale investment in research and development has brought technological leadership. At present, Contemporary Amp Technology Co., Ltd. has 55 domestic patents18, overseas patents 1065, and domestic and foreign patents 10054 being applied for.
Source: According to the annual report.
Now, Contemporary Ampere Technology Co., Ltd. has made breakthroughs in products such as sodium ion batteries, Kirin batteries and concentrated batteries. Contemporary Ampere Technology Co., Ltd. is promoting the industrialization of sodium ion batteries in 2023, and concentrated battery products are also negotiating cooperation with customers.
Contemporary Ampere Technology Co., Ltd. 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, the leading position of Contemporary Ampere Technology Co., Ltd. remains unchanged. The huge scale of production and sales and the investment of R&D have helped Contemporary Ampere Technology Co., Ltd. to maintain its leading position in the industry, and also played an escort role for its long-term development.
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