China Automotive Power Battery Industry Innovation Alliance data show that in August 2023, China's total output of power and energy storage batteries was 73.3GWh, up 7.4 percent month-on-month and 46.8 percent year-on-year, of which power battery production accounted for 87.6 percent. The performance of related listed companies rose rapidly.

Production of Power and Energy Storage Batteries Rising Rapidly

On September 11, 2023, the China Automotive Power Battery Industry Innovation Alliance released monthly data for power and energy storage batteries in August 2023. In August 2023, China's combined power and energy storage battery production 73.3GWh, up 7.4 percent month-on-month and 46.8 percent year-on-year. Among them, the power battery production accounted for 87.6 percent. From January to August 2023, China's total output of power and energy storage batteries was 456.2GWh, with a cumulative year-on-year increase of 46.3. Among them, the power battery production accounted for 92.0 percent.

In addition, in August 2023, China's power and energy storage battery sales 65.0GWh, an increase of 13.3. Among them, power battery sales 55.1GWh, up 3.7 percent month-on-month, while energy storage battery sales 9.9GWh, up 131.7 percent month-on-month. From January to August 2023, the total sales volume of power and energy storage batteries in China was 411.1GWh. Among them, the cumulative sales of power batteries and energy storage batteries were 364.9GWh and 46.2GWh.

In terms of exports, in August 2023, China's total exports of power and energy storage batteries 12.5GWh, up 142.2 percent year-on-year and 0.3 percent month-on-month. In the first eight months of 2023, China's total exports of power and energy storage batteries reached 87.9GWh, up 163.2 percent year-on-year.

In terms of power battery loading, in August 2023, China's power battery loading 34.9GWh, up 25.7 percent year-on-year and 8.2 percent month-on-month. Among them, lithium iron phosphate battery loading 24.1GWh, accounting for 69.0 percent of the total loading, up 39.7 percent year-on-year, up 11.0 percent month-on-month, three-way battery loading 10.8GWh, accounting for 31.0 percent of the total loading, up 2.7 percent year-on-year, up 2.3 percent month-on-month.

From January to August 2023, the cumulative loading of power batteries in China 219.2GWh, up 35.3 percent year-on-year. Among them, the cumulative loading volume of lithium iron phosphate battery 149.6GWh, accounting for 68.3 percent of the total loading volume, a cumulative year-on-year increase of 56.0 percent, the cumulative loading volume of three-way battery 69.4GWh, accounting for 31.6 percent of the total loading volume, a cumulative year-on-year increase of 5.2 percent.

It is also reported that in August 2023, a total of 33 power battery companies in my country's new energy vehicle market realized loading and supporting. The top ten power battery enterprises power battery loading volume of 34.0GWh, accounting for 97.5 of the total loading volume, of which, the top three, the top five power battery loading volume of 28.2GWh, 30.7GWh, accounting for 80.9 percent of the total loading volume, 88.0 percent.

In the first 8 months of 2023, a total of 48 power battery companies in my country's new energy vehicle market have achieved loading facilities, an increase of 1 year-on-year. The top ten power battery enterprises power battery loading volume of 213.7GWh, accounting for 97.5 of the total loading volume, of which, the top three, the top five power battery loading volume of 178.3GWh, 196.0GWh, accounting for 81.3 percent of the total loading volume, 89.4 percent.

Ningde Times Net Profit Up 153.64 Percent

Ningde Times (300750.SZ) is mainly engaged in the research and development, production and sales of power batteries, energy storage batteries and battery recycling products. In the first half of 2023, the company achieved operating income of 189.246 billion yuan, up 67.52 percent year-on-year, achieved net profit of 20.717 billion yuan, up 153.64 percent year-on-year, and achieved non-net profit of 17.553 billion yuan, up 148.93 percent year-on-year.

by product, in the first half of 2023, the company's power battery system operating income was 139.418 billion yuan, up 76.16 percent year-on-year, gross profit margin was 20.35 percent, up 5.31 percent year-on-year, the company's energy storage battery system operating income was 27.985 billion yuan, up 119.73 percent year-on-year, gross profit margin was 21.32 percent, up 14.89 percent year-on-year.

According to Ningde Times, in the first half of 2023, benefiting from the continuous launch of high-quality new energy vehicles, the continuous improvement of infrastructure such as charging and swapping, the global new energy vehicle market demand continued to grow rapidly, and the growth of new energy vehicle sales led to the rapid growth of power battery demand.

in the field of power batteries, according to SNE Research data, Ningde Times ranked first in the world in terms of power battery usage for six consecutive years from 2017 to 2022, and the global market share of the company's power battery usage from January to May 2023 was 36.3%, an increase of 1.7 percentage points over the same period last year, still ranking first in the world.

In the field of energy storage, according to SNE Research data, the company ranked first in the world in energy storage battery shipments for two consecutive years in 2021 and 2022. In the first half of 2023, according to SMM data, the company's energy storage core production ranked first in the world.

In addition, Ningde Times disclosed that in the first half of 2023, the company's battery system capacity was 254GWh, the capacity under construction was 100GWh, the output was 154GWh, and the capacity utilization rate was 60.5. The company said that in the first half of the battery sales exceeded 170GWh, and the sales ratio of power batteries and energy storage batteries was about 8:2.

Net profit of 4 lithium companies rose by more than 100

According to the three-level industry division of Shenwan, there are 31 listed companies belonging to the lithium battery industry. In the first half of 2023, net profit of four lithium-electric listed companies (excluding negative numbers), including Ningde Times, rose by more than 100 percent.

Guoxuan Gaoke (002074.SZ) main business covers power lithium battery system, energy storage battery system and transmission and distribution equipment three major sectors. In the first half of 2023, the company's transmission and distribution equipment business continued to transform to the manufacture of new energy battery accessories.

The company's power battery products are lithium iron phosphate materials and cells, ternary materials and cells, power battery packs, battery management systems, etc. The company's products are widely used in pure electric commercial vehicles, passenger cars, special vehicles and hybrid vehicles and other new energy fields. In terms of energy storage batteries, the company's products are widely used in communication base stations, energy storage power stations, wind-solar complementarity, mobile power supplies, etc., mainly including Power Ocean, Power Star, Power Smart three series and intelligent mobile energy storage vehicles, focusing on the layout of power generation side, power grid side, power supply side and user side four major energy storage areas.

In the first half of 2023, the company achieved operating income of 15.239 billion yuan, an increase of 76.42 percent over the same period last year, a net profit of 0.209 billion yuan, an increase of 223.75 percent over the same period last year, and a non-net profit of 35.3701 million yuan, an increase of 120.43 percent over the same period last year. In addition, during the reporting period, the company's power lithium battery operating income of 10.478 billion yuan, up 58.56 percent year-on-year, gross profit margin of 13.22 percent, up 5.84 percent year-on-year, the company's energy storage battery operating income of 4.147 billion yuan, up 224.33 percent year-on-year, gross profit margin of 17.43 percent, up 70.17 percent year-on-year.

In the first half of 2023, the company also invested 68.4307 million yuan and 72.5203 million yuan respectively in "Guoxuan New Station Annual Output 20GWh Power Battery Project" and "Liuzhou Guoxuan New Annual Output 10GWh Power Battery Production Base Project (Phase II).

the company disclosed that in may 2023, the company obtained the overseas procurement designation of Volkswagen group, and the lithium iron phosphate "Unified Cell" (standard battery cell) power lithium battery products were applied to the whole series of new energy vehicles of Volkswagen group except China. The new station Volkswagen standard cell factory (10GWh lithium iron phosphate and 10GWh ternary) is currently in the third quarter of the production line joint adjustment, is expected to be able to ship in small quantities in the fourth quarter, will have the production capacity of standard cell products, mass shipment time needs to match the progress and requirements of the Volkswagen vehicle. In the future, the two sides will actively maintain exchanges and communication in products, technology, internationalization and capital cooperation, and strive to carry out cooperation in more models, wider regions and fields.

Yiwei Lithium Energy (Rights Protection)(300014.SZ) mainly produces consumer batteries (including lithium primary batteries, small lithium ion batteries, cylindrical batteries), power batteries (including new energy vehicle batteries and their battery systems) and energy storage batteries.

the company disclosed that in the field of power batteries, according to SNE Research public data, from January to June 2023, the company ranked eighth in the world in terms of installed capacity of power batteries, with a market share of 2.2 percent, up 151.7 percent from last year, and the growth rate was in the leading position in the industry. According to public data from the China Automotive Power Battery Industry Innovation Alliance, in the first half of 2023, the company's power battery installed capacity ranked fourth in the country, with a market share of 4.35, an increase of 108.1 percent over the same period last year.

In the first half of 2023, the company achieved operating income of 22.976 billion billion yuan, an increase of 53.93 percent over the same period last year, and net profit of 2.532 billion billion yuan, an increase of 100.72 percent over the same period last year.

Disneng Technology (688063.SH) is mainly engaged in the R & D, production and sales of lithium iron phosphate cells, modules and energy storage battery systems.

In the first half of 2023, the company achieved operating income of 2.557 billion yuan, an increase of 37.94 percent over the same period last year, achieved net profit of 0.693 billion yuan, an increase of 162.91 percent over the same period last year, and realized non-net profit of 0.671 billion yuan, an increase of 153.06 percent over the same period last year.