Once Zeng Yiqun, who once created ATL, the global cell phone lithium battery giant, finally received an A-share pass.
On April 4, according to the “21st Century Business Heraldâ€, Ningde Times New Energy Technology Co., Ltd. (hereinafter referred to as the Ningde Times) passed and will soon land on the A-share GEM. It will only take 24 days to refresh Foxconn once again.
According to brokerage analysis, this company, which was established for only seven years and has an initial registered capital of only 1 million yuan, is expected to have a valuation of more than 130 billion yuan.
After the IPO was passed, Ningde Times will issue 217 million shares and raise 14.06 billion yuan to expand production capacity and battery R&D. Among them, the Ningde era Huxi lithium-ion power battery production base project plans to invest 9.86 billion yuan, construction land area of ​​385 acres, the product mainly includes power battery batteries, modules and battery packs. The project will build 24 production lines with a total annual production capacity of 24GWh power battery products.
In addition, the power and energy storage battery R&D project plans to invest 4.2 billion yuan. The research and development direction of the project mainly includes new energy passenger vehicle power batteries, new energy commercial vehicle power batteries, energy storage batteries, and next-generation batteries.
Zeng Jiongn, 50 years old, was born in a rural family in Ningde, Fujian. After graduating from the Department of Naval Architecture at Shanghai Jiaotong University, he abandoned the “iron rice bowl†of state-owned enterprises and embarked on the road to entrepreneurship.
In 1998, Zeng Yiqun and several partners formed New Energy Technology Co., Ltd. (ATL). With its technical advantages in the stability of individual cells, ATL has spent less than a decade becoming the preferred battery supplier for smartphones.
Subsequently, Zeng Yiqun, a second-time entrepreneur, spun off ATL's automotive battery division and established Ningde New Energy Technology Co., Ltd. in 2011 in his hometown of Ningde, Fujian. Today, this young power battery company has surpassed the domestic, even a number of international power battery companies.
Last year, the Ningde era topped global power battery company shipments with 11.84 GWh shipments. This is the first time that China’s power battery companies have surpassed Japan and South Korea’s enterprises to occupy the top spot. And three years ago, the shipment of batteries in the Ningde era was only 0.273 GWh.
The latest version of the prospectus published in March shows that in 2017, Ningde achieved revenue of 19.997 billion yuan, an increase of 34.4%; net profit of 4.29 billion yuan, an increase of 38.8%.
Since 2012, Ningde has cooperated with Yutong Group, SAIC Group, BAIC Group, Geely Group and Changan Group, and entered the supply system of BMW, Volkswagen and other international vehicle companies. As of the end of 2017, the Ministry of Industry and Information Technology announced a total of more than 3,200 models of 12 new energy models, including about 16% of the power batteries used in the Ningde era, and it is the most powerful battery company with the largest number of models.
As the company’s main source of income, Ningde Power Battery System sales revenue was RMB 4.981 billion, RMB 13.976 billion and RMB 16.657 billion respectively from 2015 to 2017, accounting for 87.98%, 95.55% and 87.01 of the main business revenue, respectively. %. The annual average compound growth rate of Ningde's revenue is 87.26%, and the average annual compound growth rate of net profit is as high as 112.39%.
Different from Japan and South Korea's target market for power battery companies, Zeng Xiaoqun once said: “The Ningde era will serve more local customers, and the most important thing is that we have more power batteries for electric buses.â€
In 2017, the top five customers in the Ningde Times were Zhengzhou Yutong Group, Beijing Pride, Zhejiang Geely Group, Xiamen Jinlong Automobile and Dongfeng Motor.
As of the end of 2017, Ningde Times Power had built three production bases in Ningde, Qinghai, and Liyang, with a battery capacity of 17.09 GWh. According to the Ningde era plan, the company’s total power battery capacity is expected to be 50GWh by 2020.
Zeng Yiqun said in an interview with Bloomberg News recently that the company plans to build a site in Europe to provide power batteries for car companies including BMW. Alternative locations are Germany, Hungary and Poland.
"Chinese companies do not have to worry about the fear of South Korea, because the scale has already been done, it is imperative to strengthen it and technically require a lot of effort." Zeng Yiqun said at the 2017 Electric Vehicles Centennial meeting.
The Ningde era also continued ATL's technological advantages and its tradition of focusing on scientific research. During the two sessions this year, Zeng said that the power battery technology of the Ningde era has surpassed Japan and South Korea.
As of December 31, 2017, Ningde Times and its subsidiaries had a total of 907 domestic patents and 17 overseas patents, and there were a total of 1,440 domestic and overseas patents being applied for. At the same time, the company has 3,425 R&D technicians.
Matthias Zentgraf, president of Ningde Europe, said that the company’s overseas competitiveness mainly comes from the high energy density of the battery.
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