① Everweft Lithium achieved net profit of more than 4 billion yuan in 2023, an increase of 15.42% over the previous year. ② Analysts suggest that the company failed to stand out from the second tier as the “third generation in China for power batteries”.
Finance Association, April 18 (Reporters Liu Yue and Zeng Chuchu) Benefiting from the rapid growth in the shipping scale of the company's power battery and energy storage battery business in 2023, the net revenue and profit of Everweft Lithium Energy (300014.SZ), which has a total market value of over 70 billion yuan, increased both last year, but the gross margin of power battery products declined.
Everweft Lithium Energy disclosed its annual report this evening. In 2023, the company achieved total operating revenue of 48.784 billion yuan, an increase of 34.38% over the previous year; net profit to mother was 4.05 billion yuan, an increase of 15.42% over the previous year.
Everweft Lithium Energy said in its annual report that in 2023, the shipping scale of the company's power and energy storage battery business grew rapidly, and its market share increased rapidly.
In terms of power batteries, the company shipped 28.08 GWh, achieving operating income of 23.984 billion yuan, up 64.22% and 31.41% year on year, but gross profit margin was 14.37%, down 1.59% year on year; energy storage batteries shipped 26.29 GWh, achieving operating income of 16.340 billion yuan, gross profit margin 17.03%, up 121.14%, 73.24%, and 8.07% year on year, respectively.
Zhang Jinhui, a senior researcher at Xinyi Information, said in an interview with a reporter from the financial news agency that the position of Everweft Lithium Energy's “third largest power battery in China” can be determined, but the company is still in the second tier with Guoxuan Hi-Tech (002074.SZ), China Airlines (03931.HK), and Sunwoda (300207.SZ). The market share of power batteries depends on the product competitiveness of C-end cars. The first tier, Ningde Era (300750.SZ) and BYD (002594.SZ), are in a stable position. The former is installed in many C-end models with traffic, while the latter has its own traffic.
It is worth noting that the company revealed in its annual report that 46 series large cylindrical batteries have officially been commercially delivered and applied, but there is no mention of the installed models. The company launched the 46 series large cylindrical battery in 2021. By the end of December 2023, the company's 46 series large cylindrical battery had been released more than 4.25 million units.
In terms of the production capacity of the large cylindrical battery factory, the company plans that the first phase of the large cylindrical battery factory with an annual production capacity of 20 GWh has already been put into operation in Jingmen, and the first batch of equipment for the second phase will also enter the market at the end of 2023. The company simultaneously planned construction arrangements for production capacity exceeding 50 GWh in Shenyang, Chengdu, Hungary and other places to meet the needs of domestic and foreign customers in stages.
Furthermore, it is worth noting that after Everweft Lithium Energy released its 2023 performance forecast on February 5, Ping An Securities, Dongwu Securities, and Guolian Securities all released research reports to lower the company's profit forecast for 2023-2025. The annual report results released by the company this time are within the forecast range.