News summary
The world's leading battery cell structural parts companies are at the forefront of the market and have established stable cooperative relationships with battery companies such as Ningde Times, with a market share of 32% and a gross profit margin of 24%. Thanks to customer stickiness, technological advantages and economies of scale, the company has strong profitability. It is estimated that the industry space will reach 57 billion yuan in 26 years, with a CAGR of 22%. The company will benefit from the recovery of crop power, sea-going strategy and new technology promotion. Net profit for 2024-2026 is forecast to be 14timezonearcade.200 million, 16timezonearcade.60 million yuan and 1.90 billion yuan, currently given a "buy" rating. Risks include demand for electric vehicles, fluctuations in raw material prices and industry price cuts.
Newsletter text
[Leading cell structural parts consolidates market position] As a leading company in the global field of cell structural parts, the company continues to lead the way in global market share and profit margins.
[Customer-technology-scale positive cycle drives growth] Enterprises continue to consolidate their competitive advantages in the market through positive feedback from customer resources, technological advantages and scale effects.
[Global market share is expected to be as high as 32%] It is expected that by 2023, the company's global market share will reach 32%, and the gross profit margin of structural parts is expected to be 24%.timezonearcadeThe gap in his company is significant.
[Technology and customer resources jointly support profitability] The company has established a number of global head battery companiestimezonearcadeWith a stable supply relationship, its profitability is expected to be further enhanced with its technical accumulation and customer resources.
[Demand-driven industry growth] With the year-on-year growth in battery production and the rebound in industry power rate, it is expected that the space in the battery structural parts industry will be close to 57 billion yuan by 2026, with a compound annual growth rate of 22%.
[Overseas market development and new technology application] The company actively expands overseas markets and deploys new technologies, such as 4680 battery steel casings and harmonic reducers, to adapt to market changes and seize new growth opportunities.
[Refinancing activities support development] By raising funds through fixed value-added and convertible bonds, the company has strengthened its financial strength and helped future development.
[Earnings Forecast and Market Ratings] Based on the current profit forecast, the company's net profit is expected to grow in the next few years. The market will give it a higher market rating and a "Buy" rating will be given for the first time coverage.
[Risk factors need to be paid attention to] Although the market outlook is optimistic, the company still needs to pay attention to potential risks such as fluctuations in raw material prices, industry price cuts, and the profitability of overseas bases.