The hottest lithium battery industry has huge deve

The lithium battery industry has huge development space, and the overall layout of the industrial chain is particularly obvious

on June 11, the unicorn enterprise Ningde times officially landed on the Shenzhen Stock Exchange gem. When it was listed, researchers believed that it would achieve the daily limit, with an increase of up to 44%. The amount of the sealed order exceeded 2.5 billion yuan, and the market value reached 78.64 billion yuan. Then Ningde times increased the limit for five consecutive trading days, and the market value easily exceeded 100 million yuan. As of June 15, the company's share price rose by the limit price of 53 yuan/share, with a total market value of 115.1 billion yuan, one limit short of exceeding the current "gem brother" Wen's shares. Under the soaring share price, capital flowed in the lithium battery industry. In fact, although the types of mechanical testing machines included in 201 have been more than 8 years, the lithium battery industry has exposed many problems under the influence of the declining subsidies of downstream automakers and the rising prices of raw materials in the upstream, but under the huge development expectation of new energy vehicles, the capital boom of the lithium battery industry is still hot

capital Carnival of lithium battery industry

on June 11, the unicorn enterprise Ningde times officially landed on the Shenzhen Stock Exchange gem, and it realized the daily limit on the day of listing, with an increase of up to 44%. The amount of sealed orders exceeded 2.5 billion yuan, and the market value reached 78.64 billion yuan. Then Ningde times increased the limit for five consecutive trading days, and the market value easily exceeded 100 million yuan. As of June 15, the company's share price rose by the limit price of 53 yuan/share, with a total market value of 115.1 billion yuan, one limit short of exceeding the current "gem brother" Wen's shares

up to now, in the first half of 2018, there have been more than 30 concurrent mergers and acquisitions in the lithium battery field for enterprises such as batteries, materials and equipment, involving an amount of more than 60billion yuan

with the soaring share price, capital flowed in the lithium battery industry. In fact, although the lithium battery industry has exposed many problems in the industry under the influence of the declining subsidies of downstream automakers and the rising prices of upstream raw materials since 2018, the capital boom in the lithium battery industry is still hot under the huge development expectation of new energy vehicles

even if the industry develops to longlangsheng high performance materials division, it is also investing in its global high-performance plastic production network, and the enterprise reshuffle is intensifying, but the development of electric vehicles has just begun. Although the energy storage market as a whole has not been opened, it has broad prospects, and the lithium battery market will continue to expand at a high speed for many years, In the future, "capital is either chasing scale or technology. In my opinion, there will be more capital chasing technology.

China power lithium battery space

according to the" analysis report on market demand forecast and investment strategic planning of power lithium battery industry "released by the forward looking Industry Research Institute According to the statistics, the domestic production reached 810000 vehicles in 2017, with a year-on-year increase of 56.21%. According to the production and sales target of 2million vehicles in 2020, the compound growth rate in the next three years is expected to be 35.16%. In 2017, the global sales volume of new energy passenger vehicles was 1.21 million, with a year-on-year increase of 63%. According to the calculation that domestic production and sales accounted for 60% in 2020, the compound growth rate of global new vehicles in the next three years is expected to reach 40%. From the perspective of power battery field alone, it is estimated that the domestic/global demand for lithium batteries will reach 112/224gwh in 2020, corresponding to a market size of 111.8/223.6 billion yuan. In the long run, as the industry enters a period of stable development, the low penetration rate of new energy passenger vehicles will bring a lot of replacement space

China's power lithium battery space and growth in (100 million yuan)

data source: public information, forward-looking Industry Research Institute sorting

power battery capital boom

year is a domestic power battery construction boom. In 2015, due to high subsidies for new energy vehicles, the cost of raw materials has not risen significantly, and the gross profit margin of power batteries generally exceeds 30%. Attracted by high gross profit and huge market development space, The lithium battery industry has attracted many new entrants, including group companies, listed companies, and the original digital lithium battery enterprises

from this year, he added: "However, in the first half of the year, from the perspective of the acquirers and M & A participants in the lithium battery industry, the overall layout of the industrial chain is particularly obvious, and there is a trend to increase the upstream links such as upstream mining, cobalt and other raw materials. There are 15 m & A and financing cases involving lithium carbonate, nickel, cobalt, lithium hydroxide and lithium hexafluorophosphate.

in addition, cross-border layout is still one of the major types. In February, Zhongli group, which is engaged in cable business, plans to pay 100% In addition, on May 18, baling technology, a provider of integrated solutions for heat exchanger products, plans to hold 20% to 30% of the equity of Yuliang battery through the transfer of equity. It is reported that the purpose of such cross-border enterprises is mainly to enter the field of new energy through acquisition and add a new development engine to the company

even though many enterprises have achieved a rise in share prices and performance through cross-border layout of the lithium battery industry, it should be noted that in 2018, the decline in subsidies and the formation of the industry led by the two giants of Ningde era and BYD are becoming more and more obvious. As a latecomer, enterprises or capital seem to need to be more cautious

under the multiple effects of the sharp decline in subsidies, the rise in the price of upstream raw materials, the reduction in the price of downstream main engine plants, the substantial expansion of production capacity, and the intensification of market competition, lithium battery enterprises are generally facing the pressure of declining net profit and gross profit margin, tight capital chain, and extended accounting period. Therefore, at present, such mergers and acquisitions are actually facing investment risks and pressures such as the sharp increase in the valuation of the target, the scarcity of high-quality targets, the increasing difficulty of mergers and acquisitions, the decline in the competitiveness of the target enterprise, and the high probability of gambling failure

the pressure of industry reshuffle intensifies

although in the future development trend, capital has been in the "foot" line, but in the environment of extremely obvious industry differentiation and constant strength of the strong, the survival pressure of second and third tier enterprises also really exists

in addition, in the case of structural overcapacity in the overall industry, the main body of production expansion tends to be large-scale enterprises and new entrants

under the pressure of intensifying market differentiation, technology research and development may become a magic weapon for enterprises that do not have an advantage in market share

there are two waves of reshuffle in the lithium battery industry in the short term. At present, it is the first wave, which is manifested in the change of market share. After three or four years, there will be a second wave, which is manifested in technological innovation. In the future, funds will pursue either scale or technology. In his opinion, there will be more funds to pursue technology

since last year, enterprises in the lithium battery industry have shifted beyond the technical route of ternary lithium batteries, and more and more enterprises have also entered the R & D and production of new products such as fuel cells, solid-state batteries, square pack batteries, etc