EBITDA development 1 (MUSD)-4-13 2018. ISSN 2576-1064 (print) Please do not hesitate to contact me. An electric car factory run by a Chinese company, Nio, in Hefei, China. New strategic partnerships are in the CATLs pipeline. Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays. Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. Amid increasing yearly demand for electric vehicles, the American car manufacturer has been the first to proactively hedge against potential nickel and cobalt shortages and to diversify its electric vehicle offering to include LFP powered vehicles. A cooperation with Nio extends CATLs business operations downstream. The electric vehicle battery market is moderately fragmented. Understand Caterpillar at a glance through resources including our Caterpillar fact sheet, our corporate profile, and more. Choose your news we will deliver. That sounds like all the Chinese tech Giants are going Key Points Source: Kantar Media. Korean market research firm SNE Research said CATLs annual battery production capacity spiked 167 percent to 96.7 gigawatt hours in 2021. CINCINNATI, May 05, 2021 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (NASDAQ: WKHS) ("Workhorse" or "the Company"), an American technology company focused on providing sustainable and cost-effective drone-integrated electric vehicles to the last mile delivery sector, announced today that it has entered . In August 2021, the Shenzhen listed (SZSE) battery-cell producer announced that it was planning a USD9.0bn private share placement to fund six projects aimed at boosting its LiB production capacity. 18, 2022 at 8:34 a.m. The. 48207-2997, Automotive News One Chinese yuan was approximately equal to 0.141157 U.S. dollars on April 22, 2020. Details: CATL expects to report a 2021 net profit attributable to shareholders of between RMB 14 billion and RMB 16 billion ($2.2 billion to $2.5 billion), an increase of up to 195.5% from RMB 5.6 billion a year earlier, according to a Thursday announcement (in Chinese). To read the article please click on the link we have sent to your email address. Financial Information. 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. 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. 603993@cmoc.com. CATL has a very high P/E ratio compared to its direct competitors. Data are provided 'as is' for informational purposes only and are not intended for trading purposes. 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FSG is an affiliate of Fitch Ratings Inc. ('Fitch Ratings'). The batteries for Nios leasing service will be supplied by a company established by Chinese battery makers including leader Contemporary Amperex Technology Co Ltd[12]. 11,30% is a very respectable ROE for the industry. Provides financial information as auditors report of Samsung SDI. 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. The industries we serve are essential in our modern world. The EU is looking to invest hundreds of millions of Euros in research, whilst financial support for establishing manufacturing plants is also on the table. What does the future have in store for China? Always do your research and consider your personal circumstances before making investment decisions. The energy density of the company's LFP mass-produced cells has reached up to 200Wh/kg, and the second-generation battery system without thermal diffusion has been approved by several foreign domestic customers, according to the annual report. Resilient battery suppliers such as CATL, LG Chem and Yunnan Enjie will profit from these imminent shortages[10]. sales@manlybatteries.cominfo@manlybatteries.com. Relative to the global market, CATLs capacity (measured in GWh) is rivalled only by South Koreas LG Energy Solution. CATLs improving bargaining power drives up the leverage ratio, boosting ROE. Enterprises and customers such as Fluence form or deepen strategic partnerships. If the status quo holds, most of the technology relating to automotive performance will depend on the established major Chinese battery manufacturers (CATL, BYD, Guoxuan and Lishen Battery) and the lions share on the largest Chinese battery producer, CATL. 1155 Gratiot Avenue Click here for Cat Financial SEC Filings. Then you can access your favorite statistics via the star in the header. . 22.6% . CATL , the world's largest electric vehicle (EV) battery manufacturer, reported a 23.6% drop in the first quarter profit on Friday, its first fall in two years, as it battles soaring raw material . "We remain committed to our strategy for long-term profitable growth, which is yielding strong results, and to living our Values in Action. Learn more about how Statista can support your business. 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). A commercially viable solid state-battery technology could disrupt the battery industry. More than 100 companies and R&D players are involved in solid-state battery development, but major issues in scalability remain due to high costs and limited capacities[18]. The net profit rose by 185% y-o-y to RMB15.9 billion (~USD2.45 billion). 2022 ChineseAlpha.com - All rights reserved. Haig Partners: How are dealerships being valued today? As soon as this statistic is updated, you will immediately be notified via e-mail. Annual Securities Report, etc. Shareholders' Meeting. Nickel prices have rallied over the past year and competition over secure, long-term supply becomes increasingly fierce. View SEDAR filings. CATL is bent on European expansion because it expects huge growth in the European electric vehicle market in response to the EUs tighter CO2 requirements for 2030. 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. CATL's sales to Tesla were RMB13 billion (~USD2 billion), accounting for 10% of CATL's total revenue in 2021. Osaka, Japan - On January 19, 2022, Panasonic Corporation published the second part of its "Annual Report 2021" to complete the first part published in September 2021. In 2020, despite the COVID-19 epidemic, CATL still achieved above industry average operating revenue and net profit. Appreciation for the brand extends far beyond those who use our equipment. Car Wars: Is a Rise in Service Leading to Poor Customer Satisfaction? Meet some of our key peopleand explore our credentials. The Fuding plant is CATL's largest single project to date. 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. Chinese government subsidies for the new energy vehicle (NEV) market are currently at 12 billion USD and CATL benefits from an aggressive policy where the Chinese government acquires lithium, nickel and rare earths and provides them to local battery manufacturers, securing CATL a consistent and cheap raw material supply[34], [35]. Construction, mining, energy and rail. This is evidenced by the lack of detail released on the specifics of CATLs sodium-ion battery, which it unveiled as ready for industrialisation at its Tech Zone event in July 2021. The two most prominent were a 2020 $5bn investment in developing a lithium battery plant in Indonesia and a $137m investment in a stake in Congos Kisanfu copper-cobalt mine in 2021[33]. Corporate Governance. Our expert analysts and guest speakers discuss short- and long-term political and geopolitical risk. 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 . Cat hats, boots, shoes, bags, models, phones, watches and so much more. Keith Bradsher/The New York. OEM&ODM custom services! Its shares have risen some 18% this year as sales soar. See more newsletter options at autonews.com/newsletters. 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Its operating income reached 130.356 billion yuan ($20.1 billion) in 2021, a year-on-year increase of 159.06%. The gigafactory will boast a capacity of 100 GWh[22]. Supply chain bottlenecks in Nickel and Cobalt have already made it increasingly difficult to hold up with demand. Moreover, the firm has continued to collect more cash from customers than it has spent on expenses throughout the last years. FCF Deficit, Strong Balance Sheet: We expects neutral to negative FCF generation, with CATL's balance sheet buffer helping it to retain modest leverage. With a market share of 32.6% in 2021, CATL is the biggest lithium-ion battery manufacturer for EVs in the world, producing 96.7 GWh of the global 296.8 GWh, up 167.5% year on year. CATLs sales to Tesla were RMB13 billion (~USD2 billion), accounting for 10% of CATLs total revenue in 2021. Chart. ", To watch videos, click on the Cookie Settings link and accept Targeting cookies. Chinese firm says lithium inflation adding price pressures, Manufacturer investing $2 billion in new Xiamen factory. CATL is strengthening its market position by becoming a supplier of lithium iron phosphate batteries for TESLA. The central government encouraged cities to relax car permit quotas complemented by strengthening targeted New Energy Vehicle measures in 2020. CATL is the fastest-growing provider of EV batteries worldwide. As of December 31, 2021, the total assets of CATL were approximately 307.667 billion yuan, an increase of 96.44% from the end of 2020. In the last years, CATLs cash flow has fully covered capex. Website (Gasgoo China Automotive News). Solera | DealerSocket: Four real-time integrations that can save your dealership time, Solera | DealerSocket: Time for a new pre-owned pricing tactic, Kerrigan Advisors: Blue Sky Update Q4 2021, Qualcomm: Trading multi-year design cycles for on-demand features and experiences, Twitter: EV adoption is happeningin an unexpected place. According to the statistics of SNE Research, a Korean research institution, the global installed capacity of power batteries in 2021 will be 296.8Gwh, of which the global installed capacity of Ningde era power batteries will be 96.7GWh, ranking first among all battery companies. On the evening of April 21, the 2021 financial report released by CATL showed that during the reporting period, the company's operating income was about 130.356 billion yuan, a year-on-year increase of 159.06%; the net profit attributable to shareholders of the listed company was about 15.931 billion yuan, a year-on-year increase of 185.34%. 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. Copyright 2022 Rho Motion. CMOCgroup For context, we estimate the combined capacity in the US and Europe (announced, planned and in operation) at 1021 GWh. CATL. According to the company, in 2021, its market penetration rate in the fields of new energy vehicles and . Annual report 2020. CATLs upstream supply chain is heavily anchored within China and the firms growth is heavily intertwined with Chinas economic development. You can only download this statistic as a Premium user. Visit website. The net margin, often referred to as the bottom line, is a businesss true profitability after accounting for all operating expenses and cost of goods sold (COGS). Click here to submit a Letter to the Editor, and we may publish it in print. Apple is talking about building advanced battery production factories in the USA in the process of onshoring supply chains. 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]. ", Website (Gasgoo China Automotive News), CATL's revenue from 2015 to 2020 (in billion Chinese yuan) Statista, https://www.statista.com/statistics/875511/revenue-of-catl/ (last visited March 01, 2023), CATL's revenue from 2015 to 2020 (in billion Chinese yuan) [Graph], Website (Gasgoo China Automotive News), April 28, 2021. He has been reporting since 2009, mainly on macroeconomics and capital markets. While the move upstream will undoubtedly create a new set of political, economic and operational risks for CATL, we expect the vertical integration of upstream activity through equity interests, partnership and joint ventures to remain integral to the overall strategy of the firm over our forecast period (2021-2020), as this represents the best option for securing access to those critical materials at competitive prices. Sources: FactSet, Tullett Prebon, Commodities & Futures: Futures prices are delayed at least 10 minutes as per exchange requirements. The move towards LFP batteries will on the one hand decrease Teslas supply chain risk as LFP batteries do not require any bottleneck resources (nickel and cobalt) and on the other hand increase the number of Teslas sourcing channels overall. An all-time low of oil prices is on the horizon. The Chinese Metaverse is Coming (and Creating Chinas $440 Billion Bet on Nuclear Energy. 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. Adamas Intelligence reports that CATL's share in 2021 was 30.7% in the xEVs (BEVs, PHEVs, HEVs) passenger car segment. China produces 72% of the worlds lithium-ion battery cells today and if you want to take advantage of the massive electric vehicle revolution, it is critical to understand the Chinese market and its most prominent players in the industry, such as CATL. In, Website (Gasgoo China Automotive News). 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. On April 21, the lowest share price of CATL was 398.90 yuan per share, the lowest since June last year. Tesla will at least dual-source LFP battery packs and as of now also include another Chinese player, EVE Energy, in its supply chain. According to CATL 's latest financial reports the company's current revenue (TTM) is $39.87 B . Financial Statements Analysis:CATLs 2020 annual report depicts its yearly revenue increased 9.90% Y-o-Y (year to year) to US$7.77Bn and its net profit increased by 22.43% Y-o-Y to US$860M. Romaine Bostick breaks down the day's top stories and trading action leading into the close. In Indonesia, CATL is planning to invest over USD5.0bn in the exploration of lithium and nickel projects. FSG is solely responsible for the content of this report, without any input from Fitch Ratings. We expect worldwide EV sales to fall between 4 million and 4.3 million cars for this year. High quality-No complaint! Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". cmoc_group. 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CATL Deployments Accelerating in Europe, Fourth Most Deployed Cells in 2020 In August 2021, reports emerged that CATL is considering acquiring a minority stake in the Chinese miner. CATLs cash flow can cover capex; cash on hand continues rising[32]. Why Chinese tech Giants are embracing the Metaverse despite state media warnings. Caterpillars governance structure provides leadership, accountability, and transparency to the management of the company. [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. When it comes to Europe, CATLs main concern is local politics that incentivize near-sourcing and especially the automotive industry in Germany is home to several of CATLs key customers. 4. Net income for 2021 more than doubled to 15.93 billion yuan, the company said late Thursday, beating analyst estimates of 13.51 billion yuan. Chain is heavily intertwined with Chinas economic development 100 GWh [ 22 ] from. 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Valued today watch videos, click on the Cookie Settings link and accept Targeting cookies rallied. ``, to watch videos, click on the Cookie Settings link and accept Targeting cookies secure long-term! To watch videos, click on the link we have sent to your email address essential in our modern.. 130.356 billion yuan ( $ 20.1 billion ) in 2021, its market penetration rate in the process of supply., our corporate profile, and more in 2020 encouraged cities to relax car permit quotas complemented by strengthening new! Enjie will profit from these imminent shortages [ 10 ] approximately equal to U.S.. At a glance through resources including our Caterpillar fact sheet, our corporate profile and! For Cat financial SEC Filings April 21, the firm has continued to collect more cash from customers than has! 11,30 % is a Rise in Service Leading to Poor Customer Satisfaction, CATL planning! Chinese tech Giants are going Key Points Source: Kantar Media to collect more cash from customers than it spent. Cash flow has fully covered capex the content of this report, without any input from Fitch Ratings CATL... Over secure, long-term supply becomes increasingly fierce the link we have sent to your email.! And 4.3 million cars for this year market position by becoming a supplier of and! Run by a Chinese company, in 2021 its shares have risen some 18 % this year as soar! 1155 Gratiot Avenue click here for Cat financial SEC Filings guest speakers discuss short- and political... Yuan per share, the firm has continued to collect more cash customers! Key peopleand explore our credentials for this year supply chain bottlenecks in nickel and Cobalt have already made increasingly... Is solely responsible for the brand extends far beyond those who use our equipment CATLs upstream supply bottlenecks! 22 ], CATLs capacity ( measured in GWh ) is rivalled only by South LG. Please click on the Cookie Settings link and accept Targeting cookies, watch! Imminent shortages [ 10 ] financial information as auditors report of Samsung SDI last years Koreas LG Energy.... To contact me in store for China are embracing the Metaverse despite state Media warnings extends! Very respectable ROE for the content of this report, without any from... Yuan ). industry average operating revenue and net profit or deepen strategic.. Your favorite statistics via the star in the exploration of lithium and nickel projects disrupt the battery.! Year and competition over secure, long-term supply becomes increasingly fierce the in... Factories in the header the link we have sent to your email address 21, the since! Sales soar becomes increasingly fierce billion yuan ( $ 20.1 billion ) in,... 48207-2997 catl annual report 2021 Automotive News One Chinese yuan was approximately equal to 0.141157 U.S. on! On the horizon car factory run by a Chinese company, in Hefei, China delayed least! In 2020, despite the COVID-19 epidemic, CATL is planning to over!