Zeng Yuqun, founder of the Ningde era, the world's largest electric car battery maker, is worth $49.5 billion, ranking 25th in the world, according to a real-time Forbes rich list.

That surpasses the $48.1 billion fortune of BABA founder Jack Ma and makes Zeng one of the five richest people in Asia for the first time.

The global upsurge of clean energy

Ningde Times is the world's leading lithium-ion R & D and manufacturing company, focusing on the research, development, production and sales of power battery systems and energy storage systems for new energy vehicles, including Tesla, Inc., Mercedes-Benz, BMW and many other enterprises. Lei Jun, who started a business for the last time, visited Ningde Times in May to discuss battery supply.

The customers of Ningde era almost include the top ten enterprises in the automobile field, the operating profit is also increasing year by year, and the stock price is rising explosively.

As demand for electric vehicles increases and countries strive to reduce carbon emissions and costs, its shares have soared more than 20-fold since Ningde went public in Shenzhen in 2018, up 59 per cent this year alone.

The market capitalization of Ningde era has now exceeded 1.28 trillion, ranking fifth in the total market capitalization of A shares.

China strives to reach the peak of carbon dioxide emissions by 2030 and achieve the goal of carbon neutralization by 2060, which has been in a leading position in the global electric vehicle sales market. Sales of electric vehicles in China rose 9.8 per cent to 1.11 million units in 2020, according to the China passenger car Association.

According to a report by SNE Research, global electric vehicle battery sales more than doubled in the first five months of this year compared with the same period last year, with Ningde Times having the largest market share, accounting for 31.2%.

The clean energy boom has pushed up the share prices of major suppliers such as the Ningde era of Tesla, Inc., allowing them to accumulate huge wealth.

When the Ningde era first went public three years ago, many people probably did not expect the prospect of the lithium battery industry to be so huge and did not realize that new energy vehicles would replace traditional fuel vehicles in the future.

The development prospect may continue to be broad.

It is worth noting that Zeng Yuqun is not the only billionaire to benefit from soaring share prices in the Ningde era. Huang Shilin, vice chairman of the company, is worth more than $21 billion, while vice chairman Li Ping is worth $8.5 billion.

With Zeng Yuqun's career on the rise, Jack Ma's star career is on the decline, and this year he lost $2.5 billion in wealth.

According to Bloomberg, Gao Hao, director of the NIFR Global Family Business Research Center at Tsinghua University, said:

In the past, the billionaire rankings were dominated by real estate tycoons and technology entrepreneurs, but now more of them come from new energy.

As an industry leader in electric vehicle batteries, Ningde era will benefit most from carbon neutralization goals.

Bloomberg expects global sales in the Ningde era to continue to grow thanks to economies of scale, a cost-competitive upstream supply chain and a solid customer base.

China International Capital Corporation recently released a report saying that the Ningde era's agreement with Tesla, Inc. was more cooperative than before, raising its profit forecast for the Ningde era and raising the target price by 9% to Rmb600, taking into account the higher-than-expected downstream demand of the company. Analyst Zeng Tao and others pointed out in the report that the agreement did not agree on the Chinese market, which means that Ningde era will take the opportunity to cooperate with Tesla, Inc. 's global market supply as an opportunity to accelerate the global market of products. Boosted by global demand, Ningde's long-term global market share is expected to reach more than 30 per cent.

From the perspective of long-term development, whether the Ningde era can seize the current opportunity and quickly achieve the coverage of the whole industry, as well as the expansion of the upstream and downstream markets of the industry, really make a comprehensive match between the expectations of the market and the space of the market, let the performance speak, may be the problem that must be solved immediately in the Ningde era.