Outlook
CBAK Energy Technology is embarking on an ambitious growth plan to expand its production capacity by more than 10x over the 4.5 years. If the expansion is successful the company will be a major lithium-ion battery supplier.
Demand for lithium-ion batteries remains strong and the launching a large-scale sodium-ion battery production facility offers upside for CBAK investors.
Additional investment in North American and European production of lithium-ion batteries could impact the global market in the long run but we think the near-term impact on CBAK will be limited.
Utilizing estimates that assume capacity expansion targets are met and multiples for other battery manufacturers, we believe CBAT could be worth $1.80 per share but upside exists if new products are successful or if outside investments in subsidiaries materialize.
概述
CBAK Energy Technology正在啓動一項雄心勃勃的增長計劃,即在4.5年內將其產能擴大10倍以上。如果擴張成功,該公司將成爲主要的鋰離子電池供應商。
對鋰離子電池的需求仍然強勁,大規模鈉離子電池生產設施的啓動爲CBAK的投資者提供了上行空間。
從長遠來看,對北美和歐洲鋰離子電池生產的額外投資可能會影響全球市場,但我們認爲對CBAK的短期影響將是有限的。
根據假設產能擴張目標已實現以及其他電池製造商的倍數的估計,我們認爲CBAT每股的價值可能爲1.80美元,但如果新產品成功或外部對子公司的投資得以實現,則存在上行空間。