The price of power battery has dropped by 60% in t

2022-08-05
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Over the past five years, the price of power battery has dropped by 60% and enterprises still have room to reduce costs.

with the introduction of the subsidy policy, many power battery enterprises have been asked to reduce prices by vehicle enterprises. Recently, the daily economy combed the investor relations record sheet and the third quarterly report of lithium battery listed companies and found that since the beginning of this year, the product prices of mainstream power battery enterprises have generally dropped by 20% - 30% compared with last year. On October 28, zhenglixin, spokesman of the Ministry of industry and information technology, said that China has become the largest power battery manufacturer in the world and its competitiveness is also greatly enhanced. Compared with 2012, the energy density of power battery cells has increased by 1.7 times and the price has decreased by 60%

however, on the one hand, the prices of raw materials such as nickel, cobalt, copper and lithium carbonate in the upstream field of materials are rising, and on the other hand, the automobile enterprises want to reduce costs due to the subsidy policy. Nearly half of the costs of new energy vehicles come from power batteries, which are pushed up and down. How should power battery enterprises respond? Where will the power battery industry go in the future

cost decline is slower than price decline

"this year, the price of our products has fallen by more than 25%, and we have also taken many cost reduction measures to actively negotiate with upstream raw material suppliers for internal technology and equipment and large-scale development." Recently, the person in charge of a power battery enterprise in Jiangsu talked about industry changes with the daily economy. However, he admitted that the decline in battery prices did not come from the decline in the prices of upstream raw materials. On the contrary, affected by the rise in the prices of upstream cobalt, lithium and other raw materials, the cost of enterprises this year has increased by at least 15%

on October 31, Chengdu Aircraft integration (002190, SZ) released its third quarterly report. From January to September this year, the company achieved an operating revenue of about 1billion yuan, a year-on-year decrease of 21.19%, and a net profit of 608400 yuan, a year-on-year decrease of 99.32%. The company expects the net profit in 2017 to be -19million yuan to 5million yuan

Chengdu Airlines integration said that in 2017, due to the slow recovery of the bus market as a whole affected by the subsidy policy since the beginning of the year, and the long cultivation cycle of passenger car customers, the company is still in the process of cultivating major customers, resulting in insufficient orders this year. At the same time, the market price of lithium battery products fell significantly due to the subsidy policy and the increase of the company's R & D investment. Due to the influence of many factors, the company's performance this year fell sharply year-on-year

"this year, the product price has dropped by more than 20%, or even higher. We have taken many measures, but in general, the cost has not fallen as fast as the product price, so the gross profit margin has been affected." Chengdu Aircraft integration related person expressed this

coincidentally, on October 26, GuoXuan high tech (002074, SZ) released its quarterly report, saying that from January to September this year, it realized an operating revenue of 3.755 billion yuan, an increase of 9.7% year-on-year; The net profit attributable to the shareholders of the listed company was 640million yuan, a year-on-year decrease of 13.27%. At the same time, it is estimated that this year's net profit will be 1billion yuan - 1.116 billion yuan, with a change range of -2.81% - 8.25%. GuoXuan high tech said that in 2017, the price of domestic power batteries generally fell, and the price of upstream materials rose, affecting the overall profitability

it is precisely because the cost decline is not as fast as the product price decline that jianruivoneng (300116, SZ) has realized a substantial increase in the net profit in the first half of this year and the first three quarters, but also frankly said that its gross profit margin has declined. Previously, in an investigation by institutional investors, Li Jun, Secretary of Jianrui voneng, said that last year, the gross profit margin of the company was 39% and the net profit margin was 10%. In the first half of this year, the prices of upstream raw materials were rising, and the company's products fell by 10 cents per watt hour. Therefore, the company's gross profit margin fell to about 32% in the first half of this year, and the net profit margin also fell. It is expected that the annual gross profit margin will remain at about 32%

according to the list of top 20 domestic power battery installed capacity enterprises in the first three quarters of this year released by true lithium research, BYD, GuoXuan high tech, Waterma, Jiangsu Zhihang, Tianjin Co., Ltd., CITIC Guoan, Tianfeng power and Yiwei lithium energy are listed companies (subsidiaries) or enterprises listed on the new third board

according to the statistics of the daily economy, among the above 8 enterprises for which financial data can be seen, five enterprises, GuoXuan high tech, Waterma, Tianjin, CITIC Guoan and Tianfeng power supply, saw a decline in the gross profit margin of power battery business in the first half of this year. Among them, GuoXuan high tech, Tianfeng power supply and CITIC Guoan declined by 12.43%, 11.78% and 9.59% respectively

apart from the list of the top 20 companies mentioned above, only from the perspective of the new third board, 13 listed companies such as Tianjin, sol technology, hasty, Tianfeng power, xinlingjia, wina power, Dingneng Kaiyuan, Houneng, huitongtianxia, zhuoeneng, oppenbach, Xinghai energy and Shanmu Xinneng produced new energy vehicle power batteries, and the gross profit margin of 8 of them declined in the first half of the year

Moke, chief analyst of truth research, said that from the perspective of discourse power, vehicle enterprises and resource enterprises are the most powerful, followed by battery factories. Battery factories are indeed squeezed up and down this year, and the gross profit margin is declining as a whole. However, according to Wu Hui, the gross profit of battery enterprises was generally raised last year, while the battery belongs to the manufacturing industry, and the current profit level is normal

is there room for cost reduction of power battery

according to the data, the price of power batteries has experienced a sharp decline in the past 10 years. The leading battery prices in Japan and South Korea have dropped from $600 - $800/kwh in 2010 to $150 - $200/kwh at present. The leading domestic manufacturers have also dropped to about $300/kwh by the end of 2016, and have now reached $200 - $250/kwh

in the view of insiders, the price of upstream materials has soared, and the downstream auto companies have strong demands for price reduction. The power battery enterprises, especially the small and medium-sized enterprises, caught in the middle, will find it more difficult to survive

the aforementioned person in charge of a power battery enterprise in Jiangsu said that since 2015, more than 100 billion yuan has been invested in the lithium battery industry according to the extremely weak interaction between GX RTF syringes and packaging provided by the manufacturer. At present, the consensus of the industry is that there is indeed overheating and overcapacity in the industry, but this excess is also a relative surplus. Cars have high requirements for the safety and reliability of power batteries, and car manufacturers will be very cautious in selecting battery suppliers, Small battery enterprises will withdraw slowly if they do not have the ability of sustained investment and sustainable development. This year, there has been a new trend in the market. There have been many mergers and acquisitions, and some small enterprises with relatively weak technical strength are exiting

"the price of battery products has indeed fallen considerably. On the one hand, the enterprise hopes to negotiate with upstream suppliers to reduce prices and extend the accounting period; on the other hand, or to a greater extent, it can only be digested from internal control such as product design to further expand the scale effect." The person in charge said

wuhui believes that although the battery price has dropped significantly, it does not mean that the space for cost reduction has been compressed. In his opinion, the biggest space lies in the improvement of battery energy density brought about by technological progress. If the energy density is doubled, the battery cost can be reduced by nearly half. "There is also the scale effect, including the reduction of downstream models, the increase in the number of individual models, the increase in the output of battery enterprises, and so on." Wuhui pointed out

at present, the decline of subsidies urges the whole industry chain to reduce costs. As the core power battery of new energy vehicles, it bears the brunt. The market is still worried about the decline of power battery prices and sales volume

however, the cost reduction of power batteries will not happen overnight

according to the report of industrial securities, there are three ways to reduce the cost of power batteries: 1. Improve the process and reduce the material cost; 2. Expand scale effect, improve yield and reduce production cost; 3. Echelon utilization and modular design reduce the life cycle cost. There are two other ways to improve the specific energy: one is the physical method, which uses high-capacity cells to improve the efficiency of pack grouping; The second is the chemical method, which applies the high resistance positive and negative staggered arrangement of nickel cathode material and silicon carbon cathode

zhoujianzhong, vice president of Tianneng group, previously revealed in an interview with CCTV: on the one hand, Tianneng managed to control the cost at about 8% through internal control and digestion, greatly offsetting the pressure of raw material price rise; On the other hand, Tianneng has increased the specific energy of the original battery capacity from 200wh/kg to 260wh/kg through the introduction of new materials and lightweight, thus significantly reducing the manufacturing cost

people close to watmar also pointed out to them that the cost of battery in groups is about 1.3 yuan/wh at present. In the future, it is planned to reduce the cost by 20% - 30% through improving energy density and large-scale production. Previously, the industry had estimated that the battery price would be less than 1 yuan/wh by 2020

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