100 billion car giant spent tens of billions of dollars to build power battery (with shares)
Guangzhou Automobile Group (601238) announced two foreign investment resolution, one of which is to set up an independent battery company, to carry out the construction of the independent battery industrialization, the total investment of the project is 10.9 billion yuan. Then today I am here to organize the knowledge related to BAIC Group, let's take a look together!
Layout of the upper reaches of the electric drive battery
In the 2022 World Power Battery Conference held in July, Guangzhou Automobile Group Chairman Zeng Qinghong had openly spat that "is not now working for Ningde Times?" The statement caused the market hot debate, new energy vehicle enterprises were labeled as "workers".
In order to change the situation of "upstream eating meat, downstream eating dirt", Guangzhou Automobile Group chose to personally play. The company disclosed the announcement shows that the proposed establishment of green battery company to carry out the construction of independent battery industrialization, the total project investment of 10.9 billion yuan. One of the project company's first registered capital of 1 billion yuan, the controlling subsidiary BAIC EAN, wholly owned subsidiary BAIC passenger cars and BAIC trade according to the shareholding of 51%, 40%, 9% respectively, contributed 510 million yuan, 400 million yuan, 0.9 billion yuan, the source of funds by the company co-ordination.
In addition, GAC Group also agreed to participate in the construction of the battery production base project, mass production of high-speed charging power battery core, module and PACK system, the project total investment of 3.69 billion yuan, the source of funds by the enterprise self-financing.
According to the plan, the independent battery company will start construction at the end of this year, to 2025 to build 26.8GWh mass production line, can cover the pure electric and hybrid models market demand. In the early stage to support the main enterprises within the EAN and GAC Group, to enhance the battery market share. It is understood that in the future, the independent battery company will also actively expand the external market, market-oriented operation.
In fact, GAC Group to the upstream layout of the industry has long been expected. Previously, there is news that GAC EAN is preparing to build a power battery company and power battery mass production line, to promote the battery self-research, self-production of industrialized layout, to achieve a controlled supply of power batteries.
Between GAC EAN's successive years of losses, GAC Group's willingness to cut costs is also getting stronger. The financial report shows that from 2019 to 2021, GAC EAN recorded losses of 621 million yuan, 688 million yuan, 1.389 billion yuan, and a three-year cumulative loss of 2.697 billion yuan. In the first quarter of this year, affected by the price increase of core raw materials such as batteries, BAE's gross profit margin was under pressure, down 4.15 percentage points from the previous year.
And GAC's move to extend upstream is not just limited to its core component, the power battery. The company announced on August 11 that it had set up an electric drive technology company to industrialize its own IDU electric drive system and GMC hybrid electric coupling system. The total investment of the project is 2.16 billion yuan. It plans to complete the production line in 2025, which will be able to produce 400,000 sets of IDU electric drive system assemblies and 100,000 sets of motors and electronic controls for GMC hybrid electric coupling systems annually.
Ean attracted war investors vertically integrated industry chain
In addition to the layout of the upstream battery electric drive, GAC Group also announced on the 25th, the Board of Directors passed the "on the GAC Ean A round of war and share reform matters," agreed to GAC Ean implementation of the capital increase, the introduction of the round of A round of financing, the strategic investor's shareholding in the financing of the total shareholding ratio of about 15%. The shareholding ratio of the strategic investor introduced in this round of A financing is about 15% of the total shareholding after financing. Previously, GAC EAN in the Canton Exchange pre-listed A round of capital increase project, proposed financing up to 15 billion yuan.
Despite the continuous losses of GAC EAN, but it still supports the new energy of GAC Group "facade". Since the beginning of this year, GAC EAN sales all the way up, July sales reached 25,033 units, an increase of 138% year-on-year, January-July cumulative sales of 125,284 units, an increase of 135% year-on-year.
GAC recently disclosed in an investor exchange that in February this year, the second phase of GAC EAN intelligent ecological factory (100,000/year) capacity expansion project was successfully completed, and GAC EAN's standard production capacity reached 200,000 units/year. GAC EAN second plant capacity construction project is expected to be completed and put into operation in the fourth quarter of this year, when its overall production capacity will reach 400,000 vehicles / year.
It is worth noting that GAC EAN will usher in a heavyweight war investor. Market value of more than 170 billion yuan of lithium giant Ganfeng lithium 18 announcement announced that the decision to participate in the GAC EAN through the capital increase to introduce strategic investors project.
Not only that, Ganfeng lithium and GAC EAN will also be the most upstream from the new energy power battery material end of the cooperation, continue to explore the development of lithium resources, midstream lithium salt deep processing and integrated recycling of waste batteries at all levels of cooperation. According to the cooperation program, Ganfeng Lithium to play in the lithium carbonate and other core raw materials for batteries on the advantage, to the GAC EAN or its (potential) suppliers to provide both reliability and cost-effective raw materials.
At the same time, GACEA supports Ganfeng Lithium's subsidiary, Ganfeng Li-Power, in the development of new batteries (e.g., solid-state batteries) and prioritizes the introduction of Ganfeng Li-Power's new battery solutions. Ganfeng Lithium ensures 100% supply of lithium carbonate or lithium hydroxide required for Ganfeng Lithium's production.
It is not difficult to see, from the power battery to the upper reaches of lithium carbonate, Guangzhou Automobile Group is vertically integrating new energy industry chain, and has the intention to completely change the role of "workers", and obviously want to keep the money in their own "pockets".
What are the leading power battery concept stocks
1, Ningbo Jingda 603088
Ningbo Jingda shape equipment limited company's main business for the heat exchanger equipment and precision presses research and development, production and sales. Heat exchanger equipment products mainly include finned high-speed precision presses, expanders, benders, micro-channel heat exchanger equipment and other heat exchanger equipment; finned high-speed precision presses, expanders, benders and other heat exchanger equipment is mainly used in the home appliance industry in the production of air conditioning heat exchanger; micro-channel heat exchanger equipment is mainly used in the production of automotive heat exchangers.
2, beyond the science and technology 301049
Anhui beyond the main business of environmental protection science and technology limited company for industrial hazardous waste and medical waste disposal services and waste electrical and electronic products dismantling services. The company's current phase of the main services provided by the industrial hazardous waste and medical waste disposal services and waste electrical and electronic products dismantling services, the main production of some of the industrial hazardous waste resource utilization products and waste electrical and electronic products dismantling products.
3, Disonic 603335
Guangdong Disonic Auto Parts Co., Ltd. main business is the research and development of automotive aluminum alloy wheels, design, manufacturing and sales, the company's main products for the automotive wheels and automotive tires, and mainly for the U.S. tuning market.
4, ningde times 750
energy storage equipment manufacturing leading stocks, the world's leading new energy power battery system provider, is the supplier of Tesla battery system. New energy short-term performance in the A-share market has not been considered scenic, but in line with the future development trend of the world's energy system, I believe that Ningde Times still have room for development in the future.