Who is the major shareholder of CATL ?
CATL full name is, CATL New Energy Technology Co., Ltd. ; major shareholder, Ningbo Meishan Bonded Port District Ruiting Investment Co., Ltd. ; industry category, electrical equipment, electrical machinery and equipment manufacturing industry.
CATL registration (office) address , No. 2, Xingang Road, Zhangwan Town, Jiaocheng District, Ningde City; Shenzhen Stock Exchange main board listing, stock code, 300750.
CATL , Chairman (legal representative, general manager), Television ; registered capital (yuan), 2.331 billion; number of employees of , 83601; (secretary of the board, Securities Affairs Representative ), Jiang Li .
CATL 's main business , lithium-ion battery , lithium polymer battery, fuel cell , power battery, ultra-large capacity energy storage battery, supercapacitor , battery management system and rechargeable battery pack, wind and photoelectric energy storage system, related equipment and instrument development, production and sales and after-sales service; investment in the new energy industry; technical services, testing services and consulting services for lithium batteries and related products.
Investment Event
The company achieved operating income of 112.97 billion yuan in the first half of 2022, a year-on-year increase of 156.3%, and a net profit attributable to shareholders of 8.17 billion yuan, a year-on-year increase of 82.2%; and a net profit attributable to shareholders of 7.05 billion yuan, a year-on-year increase of 80%.
Investment points
Profits in the second quarter improved significantly month-on-month, with significant transmission effect of power prices
In the first half of 2022, the company achieved revenue of 112.97 billion yuan, a year-on-year increase of 156.3%, and a net profit attributable to shareholders of 8.17 billion yuan, a year-on-year increase of 82.2%. The profit in the second quarter recovered significantly month-on-month, with net profit attributable to shareholders of 6.68 billion yuan, a year-on-year increase of 163.9% and a significant increase of 347.1% month-on-month. By business, power/energy storage/lithium battery materials revenue in the first half of the year was 79.14/12.74/13.67 billion, a year-on-year increase of 159.9%/171.4%/174.2%.
In the first half of 2022, the company's gross profit margin was 18.7%, a year-on-year decrease of 8.6 percentage points, of which the power gross profit margin reached 15%. The pressure on raw material costs has eased in the second quarter, and gross profit margin increased by 7.4 percentage points month-on-month to 21.9%. In the first half of 2022, the company's R&D expenses were 5.77 billion yuan, with a expense rate of 5.1%, and investment income of 1.8 billion yuan (only 120 million yuan in the first half of 2021). In the first half of 2022, the company's net profit margin was 8.6%, a year-on-year decrease of 3.6 percentage points.
Energy storage price transmission is relatively slow, and the profit contribution of other businesses exceeds expectations
In the first half of 2022, the company's energy storage revenue was 12.74 billion yuan, a year-on-year increase of 171.4%, and the gross profit margin of energy storage is 6.4%, a year-on-year decrease of 30.2 percentage points. Due to the differences in energy storage customers and business models and power, the price transmission is slow, and it is expected to continue to increase after the third quarter. In the first half of the year, the other businesses of revenue was 37.42 billion, an increase of 88.3% year-on-year. Other businesses specifically include technical authorization, services and waste sales. The gross profit margin of this business is as high as 74.9%, and the gross profit accounted for 26.3%. It is expected that with the company's R&D investment and R&D results, the business will grow steadily.
technology iteration is accelerated, overseas travel is accelerated, global market share is rapidly increasing
In the first half of 2022, the company's technology iteration is accelerated, 2.2C fast charging is on the car application, liquid-cooled CTP energy storage is delivered 4GWh, Kirin battery is released, the space utilization rate exceeds 72%, and the range is 1,000 kilometers. sodium battery has made rapid progress, customers have responded well, and is expected to enter mass production next year. The competitive advantage of high-nickel technology is significant, and it has better technology and cost compared with South Korea. Technological innovation is the spear. The company accelerates its overseas market to seize global share. In the first half of the year, it signed a global strategic cooperation with Ford, covering its power battery supply in China, Europe and North America. It plans to establish a second European factory in Hungary in the near future to win more overseas automaker customers. In the first half of 2022, the global installed capacity of power batteries was 203.4GWh, a year-on-year increase of 76.8%, and the company's global market share increased to 34.8%.
power battery system provider, focuses on the research, development, production and sales of power battery systems and energy storage systems of new energy vehicles, and is committed to providing first-class solutions for global new energy applications. The company has core technical advantages and sustainable R&D capabilities in key areas of the industrial chain such as battery materials, battery systems, and battery recycling, and has formed a comprehensive and complete production service system.
CATL Power and Energy Storage Battery R&D Project, This project plans to invest 420,000 yuan. The main research and development directions of the project include new energy passenger vehicle power batteries, new energy commercial vehicle power batteries, energy storage batteries, next-generation batteries, etc. The specific research and development content includes new materials such as high-nickel ternary materials, silicon carbon negative electrode materials, flame retardant additives, battery management systems, intelligent manufacturing processes, battery lightweight technology, production process optimization design, battery recycling and reuse development, battery structure research and development, next-generation battery key materials development, etc.
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