A：Company Basic Information
Company Full Name: Contemporary Amperex Technology Co., Ltd.
Stock Code: 300750.SZ
Stock Abbreviation: CATL
Region: Fujian, China
Industry: New Energy Power Battery Systems, Energy Storage Systems
Establishment Date: December 16, 2011
Issue Price: 25.14 RMB
Founder: Zeng Yuqun
Company Website: http://www.catl.com
Registered Address: No. 2 Xin Gang Road, Zhang Wan Town, Jiaocheng District, Ningde City, Fujian Province
Total Shares: As of July 31, 2024, the company's total share capital is about 4.399 billion shares.
Total Market Value: As of July 31, 2024, the company's total market value is about 108 billion RMB.
Business Scope: Research, development, production, and sales of new energy batteries, energy storage batteries, and battery recycling.
Company Profile:Contemporary Amperex Technology Co., Ltd. (CATL), established in 2011 and headquartered in Ningde City, Fujian Province, China, focuses on new energy power battery systems, energy storage systems, and battery recycling. CATL is a leading global provider of integrated new energy solutions. The company holds a leading position in the field of electric vehicle batteries with its technological edge and market share, providing power battery solutions for many well-known automotive manufacturers worldwide.
B：Investment Value Analysis
Key Financial Indicators:
Revenue in 2020: 50.3 billion RMB, a year-on-year increase of 9.9%
Revenue in 2021: 130.3 billion RMB, a year-on-year increase of 158.9%
Revenue in 2022: 233.3 billion RMB, a year-on-year increase of 79.0%
Estimated Revenue in 2023: Over 300 billion RMB, a year-on-year increase of about 28.6%
Estimated Revenue in 2024: To reach 400 billion RMB, a year-on-year increase of about 33.3%
Company Investment Value:
CATL, as the world's leading new energy power battery manufacturer, possesses strong technological innovation capabilities and market competitiveness. The company has made significant progress in new technologies such as solid-state batteries, sodium-ion batteries, and high-nickel batteries, further enhancing product competitiveness. Through large-scale production capacity construction and supply chain optimization, the company has further improved its market competitiveness. With new production bases in Fujian, Qinghai, Sichuan, Germany, and Hungary, the total production capacity in 2024 is expected to exceed 250 GWh, further consolidating its global market share.
Company Growth Potential:
CATL's growth logic is based on technological innovation, large-scale production and supply chain optimization, globalization layout and localization services, ecosystem construction, and diversified business expansion. The company's layout in the North American, European, and Asian markets has been further deepened, establishing closer cooperation with American car companies such as Ford and General Motors. The energy storage business, as one of the company's important growth points, is expected to achieve a year-on-year increase of more than 50% in revenue in 2024.
Industry Support Policies:
The new energy industry is strongly supported by policies worldwide. Governments around the world have introduced a series of supportive policies, including subsidies, tax incentives, and R&D support, to promote the development of clean energy and reduce greenhouse gas emissions. These policies provide a favorable development environment for new energy companies like CATL.
International Policy Risks:
Due to the global nature of the new energy industry, CATL needs to face policy changes in different countries and regions. Changes in policies can have a significant impact on market demand. In addition, global markets have increasingly stringent regulatory requirements for environmental protection and product quality. CATL needs to ensure that its products and production processes comply with local regulatory standards.
A.Top's Investment Review:
As a global leader in new energy power batteries, CATL demonstrates strong investment value and growth potential with its technological innovation, production scale, supply chain optimization, globalization layout, and diversified business expansion. The company has taken a series of effective risk response measures to address market risks, technical risks, financial risks, and regulatory policy risks, ensuring the company's continuous growth and market competitiveness.