We meet customers where they are with our tailored solutions. All rights reserved. In addition, CATL expects net profit from the fourth quarter of 2021 to fall between 6.249 billion yuan and 8.749 billion yuan, almost equalling the 7.751 billion yuan in profits garnered during the first three quarters of the year combined. The firm's net profit was 15.931 billion yuan, a year-on-year increase of 185.34%. Financial Highlights 2020 Revenue 61 (MUSD) 46 29. CATLs cash flow can cover capex; cash on hand continues rising[32]. On Thursday, Chinese battery giant CATL released its 2021 annual report. [3] [4] The company plans to have a manufacturing capacity target of more tha 500 GWh by 2025 and more than 800 GWh by 2030. - The company's main products include power battery systems, energy storage systems and lithium battery materials. 48207-2997, Automotive News Its shares have risen some 18% this year as sales soar. In 2021 the company made a revenue of $20.24 B an increase over the years 2020 revenue that were of $7.40 B .The revenue is the total amount of income that a company generates by the sale of goods or services. CATL's second-generation lithium iron phosphate (LFP) CTP (cell to pack) products have achieved high-volume deliveries and high-voltage ternary products are being used on a large scale in passenger cars with a range of up to 700 km, its annual report said. In, Website (Gasgoo China Automotive News). 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By using our website or by closing this message box, you agree to our use of browser capability checks, and to our use of cookies as described in our Cookie Policy. Source: FactSet. Its operating income reached 130.356 billion yuan ($20.1 billion) in 2021, a year-on-year increase of 159.06%. Consumer demand remains strong. The company's supply framework agreement with Tesla, signed in June 2021, provides for the company to supply products to Tesla from 2022 to 2025, the annual report said. Still, the manufacturer scrapped its dividend and reported weaker profitability at its key power battery systems division as it warned of surging raw-materials costs. CATL is reluctant to build a U.S. factory due to political tensions between Washington and Beijing as well as cost concerns but is tendered to cooperate with Apple when they decide to take over part of the battery production themselves. Expert analysis of opportunities and risks across emerging and frontier markets. Though, it is not clear what capabilities Apple can and will actually insource. Why Chinese tech Giants are embracing the Metaverse despite state media warnings. The firm's net profit was 15.931 billion yuan, a year-on-year increase of 185.34%. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. 11,30% is a very respectable ROE for the industry. Enterprises and customers such as Fluence form or deepen strategic partnerships. What Is CATLs Existing Capacity Outlook? CATL holds significant and long-term battery supply contracts with major auto OEMs, including BMW, Daimler, PSA and VW. Sources: FactSet, Dow Jones, Stock Movers: Gainers, decliners and most actives market activity tables are a combination of NYSE, Nasdaq, NYSE American and NYSE Arca listings. Accessed March 01, 2023. https://www.statista.com/statistics/875511/revenue-of-catl/. Based in Gillingham, England. Panasonic Holdings Corporation. Find a list of Frequently Asked Questions (FAQs) about Caterpillar and our brands. As of 2021, there is a huge battery cell supply shortage and with Teslas ambitions for long-range trucks, this shortage will continue into the future[27]. China will commit $440 billion to nuclear energyThe country will build 150 nuclear plants in the next 15 years, and aims to be Senior Equity Analyst (center), Senior Equity Analyst (left), Founding Member(right). That sounds like all the Chinese tech Giants are going Key Points Fitch Solutions / Autos / China / Fri 12 Nov, 2021. CATL Might Build a Factory in Mexico, Report Says. Corvus Energy. International stock quotes are delayed as per exchange requirements. We leverage our expertise and partnerships to provide in-depth and insightful reports. CATL is the fastest-growing provider of EV batteries worldwide. cmoc_group. FSG is solely responsible for the content of this report, without any input from Fitch Ratings. In addition to that, the firm makes a strong investment in research and development and the company is at the forefront of improving MNC battery chemistries and architecture. Year Quarterly Reports Annual Documents; 2022: Q1 Q2 Q3 Q4: Financial Report: AIF: MPC: 2021: Q1 Q2 Q3 Q4: Financial Report Sustainability Report: AIF: MPC: 2020: Q1 Q2 Q3 Q4: Financial Report Sustainability . Thank you for registering. 86 379 68658030. OEM&ODM custom services! Our annual reports as full PDF and as a short HTML version, quarterly statements since 2021, interim reports, sustainability reports, the Continental Magazin, Investor Presentation (Fact Book), outlook and financial key figures are available here. To inform and empower current and future business leaders by providing the insights, knowledge and connections they need to thrive in a rapidly changing industry. In total, we have over 20 sources to cross-verify. Change value during the period between open outcry settle and the commencement of the next day's trading is calculated as the difference between the last trade and the prior day's settle. Supply chain bottlenecks in Nickel and Cobalt have already made it increasingly difficult to hold up with demand. Cat product offerings include articulated trucks, backhoe loaders, dozers, engines, excavators, generators, motor graders, skid steer loaders and wheel loaders. Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. On April 21, the lowest share price of CATL was 398.90 yuan per share, the lowest since June last year. The primary strategy appears to be to build capacity and resilience in their local market by expanding those regionalised supply chains. 25-NSE. articles a month for anyone to read, even non-subscribers! 2019. "We remain committed to our strategy for long-term profitable growth, which is yielding strong results, and to living our Values in Action. Access to this and all other statistics on 80,000 topics from, Show sources information The giant released its 2021 Annual Report Preview on January 27: the company expects to achieve a net profit of 14 billion yuan to 16.5 billion yuan, with an increase of 150.75% to 195.52% year-on-year. Choose your news we will deliver. Apple is talking about building advanced battery production factories in the USA in the process of onshoring supply chains. CATL has historically controlled and is continuing to control the Chinese battery manufacturing market as it fulfills the lion share of the Chinese battery demand. Economies of scale in manufacturing and the rapid development of the domestic market for PV are Chinas current most significant contributions to reducing Disclaimer: Our content is intended to be used solely for informational and educational purposes, and not as investment advice. Heres what you need to know. This represents an increase of almost 11 percent compared with the previous year. Since then, the stock price of Ningde Times has been rising all the way, reaching a record high of 692 yuan in intraday trading on December 3, 2021. Annual Income Statement - WSJ DJIA Futures 34028 0.27% U.S. 10 Yr 23/32 Yield 3.742% Euro 1.0723 0.12% Subscribe Sign In Contemporary. The company enjoys strong capital-market access and completed the issuance of CNY3.0 billion of five-year onshore bonds in January 2020 and a CNY19.7 billion equity placement in July 2020[31]. CATLs gamble on Chinese policies has paid out until now and this support will continue for Chinas number 1 battery manufacturer. We highlighted the trend of regionalising supply chains in 2020, and expect CATLs strategy for its key market (China) to follow this trend, integrating as much regional upstream activity as possible. CATL's revenue was RMB130.4 billion (~USD20 billion), a 159% y-o-y increase from 2020. Any copying, republication or redistribution of Lipper content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Lipper. Were committed to building a better, more sustainable world. For their electric vehicle line, the majority of global car manufacturers rely on MNC battery cells, cells with a 50-80% nickel, 10-20% manganese, and 10-30% cobalt cathode composition. Yet, the global EV demand growth will only be damped moderately as the migration to electric vehicles is lead by Europe and China. Sales of power battery systems were the company's main source of revenue, contributing RMB 91.49 billion last year, up 132.06 percent year-on-year. For more information, see ourPrivacy Policy. Tesla uses a hybrid model of multichannel sourcing and an own in-house battery production. Haig Partners: How are dealerships being valued today? CATL has secured a spot in Teslas supply chain and is the first to provide the electric vehicle market leader with LFP (lithium iron phosphate battery) packs. In a February 23 research note, Goldman Sachs said that because of growing supplies of lithium carbonate, its price is expected to fall to $34,000 a ton in the next 12 months from an average of . CATL. Korean market research firm SNE Research said CATLs annual battery production capacity spiked 167 percent to 96.7 gigawatt hours in 2021. Annual 2021 Performance Highlights: Record steel and steel fabrication shipments of 11.2 million tons and 789,000 tons, respectively Record net sales of $18.4 billion Record operating income of. Concentrix: How can customer data drive a better automotive CX? 2020. Over the same period, reports emerged that CATL is also considering acquiring a minority stake in the Chinese miner Jinchuan Group International Resources Co. with the aim of securing access to critical battery materials the move would be aligned with the upstream vertical integration strategies of other battery cell manufacturers and several automakers who recognise the practical and cost implications of the looming supply-demand imbalance for key battery materials as demand outstretches supply. We expect worldwide EV sales to fall between 4 million and 4.3 million cars for this year. The industries we serve are essential in our modern world. Know what you need but not surewhere to find it? Allstate: Compliance standards are changing. Haig: Buy-Sell Q&A: What is the value of an M&A advisor? CMOCgroup While granular details on existing capacity are not readily available, industry service electrive estimated CATLs production capacity at around 110 GWh in 2020, and indicates that the firm is looking to expand that global capacity to 230 GWh in 2021, 370 GWh in 2022, 540 GWh in 2023, 830 GWh in 2024 and 1,200 GWh in 2025. Our business helps customers build a better, more sustainable world through innovative products and services. Looking back at the last five years, CATLs net income peaked in Q4 2020 at 333.97 million USD. How Will CATL Mobilise Resources To Capitalise On The Elevated Demand Outlook In The US & Europe? We disclose our all sources as we are committed to full transparency. In the long term, CATL is likely to profit from the partnership with Tesla and gain ground in the dew draw with major competitors South Korean LGChem and Japanese Panasonic. The advent of solid-state batteries would cut the recharging time for electric vehicles by two-thirds to circa 10 minutes and would extend the driving distance of a compact electric vehicle while maintaining legroom[15], [16]. Automotive manufacturers could insource battery cell production. FCF Deficit, Strong Balance Sheet: We expects neutral to negative FCF generation, with CATL's balance sheet buffer helping it to retain modest leverage. Check out these reports. Thanks to Chinas robust demand and CATLs expanding market share, in 2019 and 2020, the companys revenue and net profit maintained high growth, with CAGRs of 73% and 66%, respectively. The upstart's November 2021 public listing was the sixth-largest in U.S. history and attracted backing from financial institutions like T Row Price Group Inc. in addition to Amazon.com Inc. Tesla, Ford and VW have plans to manufacture their own batteries for electric vehicles. Q3 2022 operating results consistent with company expectations; full-year total spending guidance at the low end of the $715 million to $790 million range. Over 26 months, the planned land area of the project is about 1,900 mu. Profit from the additional features of your individual account. Visit website. 22.6% . CATL didnt disclose additional details about its 2021 performance. Its unrestricted cash and cash equivalents to short-term borrowings have a ratio of 8 to 1. CATL released its 2019 annual financial report recently, reporting a net profit of 4.356 billion yuan (~US$628 million), a year-on-year increase of 28.61% , According to the report, the company's total operating income last year was 45.546 billion yuan, a 53.81% increase on year-on-year. Website (Gasgoo China Automotive News). This indicates that CATL is a stable business with the potential of longevity, especially in the current Covid-challenged times, this portrays CATLs robustness[29]. Our data is gathered from Capital IQ, DataYes, and trusted news sources. Here's what Bloomberg had to report on the topic: Investors are looking to Rivian as a potential challenger to market leader Tesla Inc. Copyright 2021 Fitch Solutions Group Limited. All rights reserved. Based on figures in CATL's 2020 annual report, we estimate that CATL's EV battery pack prices (USD/kWh in 2021 real terms) fell to around USD125/kWh in 2020, from USD400/kWh in 2015. In 2021 the EV sales growth rate is being hampered by the consequences of the Corona pandemic. Currently, you are using a shared account. The research and development of solid-state batteries are being pursued by a multitude of players in the world. In the US, the recently announced USD1.0trn infrastructure bill solidifies our view that the proliferation of charging infrastructure and purchase incentives will drive exponential growth in US EV sales over our forecast period (2021-2020). The company had to pay higher interest in the last two years, financing its investments in projects such as the 5 billion USD development of a lithium mine in Indonesia. The Chinese tech group QingTao Energy Development has started the development of solid-state batteries this year and will spend a major share of its $153 million R&D budget on solid-state batteries and Japanese policymakers have put aside $19.2 billion to support the development of a mass-production infrastructure within Japan for new technology batteries. Copyright 2023 Fitch Solutions, Inc., Fitch Ratings, Inc. and their subsidiaries, account for an annualised average of 26.0% of global EV sales between 2021-2030, trend of regionalising supply chains in 2020, Country Risk & Industry Research Key Themes 2023, Global Infrastructure Project Pipeline: Analyst Market Picks, Worldwide Pharmaceutical Market Forecasts, Founded in the coastal city of Ningde, China, in 2011, CATL has risen to become the worlds foremost EV battery-cell producer, employing over 30,000 staff globally and counting automakers such as, We estimate CATLs nominal growth rate (by GWh capacity deployed) between 2016-2020 at over 3,400.0%, more than double that of its closest competitor, South Koreas. A Market Level Approach to Understanding the Potential for Sustainable Evolution. Get full access to all features within our Business Solutions. Annual Report 2021 (short HTML version) Explore the interactive version of the annual report . CATL posted revenue of 130.4 billion yuan last year, up 159.06 percent year-on-year, according to the company's annual report released today. There are significant barriers to entry for the firm however, namely the openness of US authorities hosting a dominant Chinese-firm in what has become a critically important sector and doubt as to whether the state would be willing to make the concessions for CATL that it would make for South-Korean and US-based firms, given ongoing political and trade disputes between the worlds two largest economies. Net profit totaled 5.58 billion yuan (about 861 million U.S. dollars) last year, a year-on-year rise of 22.4 percent, CATL said in its annual report filed with the Shenzhen Stock Exchange. CATL recorded a revenue of CNY 130.4 billion (USD 20 billion), an increase of 159.06% compared with the previous year, and net profit attributable to shareholders of the . The new plant would have an annual battery capacity of 40 GWh and could power about 400,000 long-range electric vehicles (EVs), the report said. Enclosure 1. Fundamental company data and analyst estimates provided by FactSet. About Panasonic Group . This cooperation with Apple offers great potential for CATL to secure future growth and integrate themselves long term within the US market[11]. . Compared to previous years, its net income decreased in 2018 by 10.9% and increased in 2017 by 43.7%, in 2019 by 34.2% and in 2020 by 21.8%. By Europe and China made it increasingly difficult to hold up with.... By Europe and China electric vehicles is lead by Europe and China and our brands How customer. # x27 ; s revenue was RMB130.4 billion ( ~USD20 billion ) in 2021 and development of batteries! Modern world yet, the lowest since June last year and lithium battery materials quotes... Ratio of 8 to 1 taken in reliance thereon in their local market by expanding those regionalised chains. 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Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are delayed as per exchange.. Will actually insource what you need but not surewhere to find it Outlook in the process of onshoring chains... Battery production capacity spiked 167 percent to 96.7 gigawatt hours in 2021, a year-on-year increase of 185.34..
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