Recently, CINNO Research released the latest data. From January to June 2023, China’s new energy project investment amounted to 5.2 trillion yuan (including Taiwan), and the new energy industry has become a key investment area for emerging technology industries.
From the perspective of internal capital breakdown, from January to June 2023, investment funds in China (including Taiwan)’s new energy industry mainly flowed to wind power photovoltaics, with an amount of about 2.5 trillion yuan, accounting for about 46.9%; total investment in lithium batteries The amount is 1.2 trillion yuan, accounting for about 22.6%; the total investment in energy storage is 950 billion yuan, accounting for about 18.1%; the total investment in hydrogen energy exceeds 490 billion yuan, accounting for about 9.5%.
From the perspective of the three major investment entities, wind power photovoltaics, lithium batteries and energy storage are the three major investment entities in the new energy industry. From January to June 2023, photovoltaic investment funds in China (including Taiwan) mainly flow to photovoltaic cells, while wind power investment funds mainly flow to wind power operation projects; lithium battery investment funds mainly flow to lithium battery modules and PACK; energy storage investment funds mainly flow to pumped storage able.
From the perspective of geographical distribution, the investment funds in the new energy industry are mainly distributed in Inner Mongolia, Xinjiang and Jiangsu, and the overall proportion of the three regions is about 37.7%. Among them, Xinjiang and Inner Mongolia have benefited from the construction of wind-solar bases and energy base projects, and have a relatively large stock of photovoltaic installed capacity, and compared with distributed, they are mainly centralized.
According to the latest data released by South Korean research institution SNE Research, in the first half of 2023, the global newly registered power battery installations will be 304.3GWh, a year-on-year increase of 50.1%.
Judging from the TOP10 companies with global power battery installations in the first half of the year, Chinese companies still occupy six seats, namely Ningde Times, BYD, China Innovation Aviation, EVE Lithium Energy, Guoxuan Hi-Tech and Sunwoda, with a total market share of up to 62.6%.
Specifically, in the first half of the year, China’s Ningde Times ranked first with a market share of 36.8%, and its battery loading volume increased by 56.2% year-on-year to 112GWh; The market share followed closely behind; Zhongxinhang’s battery installation volume increased by 58.8% year-on-year to 13GWh, ranking sixth with a market share of 4.3%; EVE lithium energy battery installation volume increased by 151.7% year-on-year to 6.6GWh , ranked 8th with a market share of 2.2%; Guoxuan Hi-Tech’s battery installation volume increased by 17.8% year-on-year to 6.5GWh, ranking 9th with a market share of 2.1%; Sunwoda’s battery installation volume year-on-year It increased by 44.9% to 4.6GWh, ranking 10th with a market share of 1.5%. Among them, in the first half of the year, the installed capacity of BYD and Yiwei lithium-energy batteries achieved triple-digit year-on-year growth.
The battery network noticed that in terms of market share, among the top 10 global power battery installations in the first half of the year, the market share of four Chinese companies CATL, BYD, Zhongxinhang, and Yiwei Lithium Energy achieved year-on-year growth. Sunwoda declined. Among Japanese and Korean companies, LG New Energy’s market share remained flat compared to the same period last year, while Panasonic, SK on, and Samsung SDI all saw a year-on-year decrease in market share in the first half of the year.
In addition, the Ministry of Industry and Information Technology announced the operation of the lithium-ion battery industry in the first half of 2023, showing that in the first half of 2023, my country’s lithium-ion battery industry will continue to grow. According to industry standard announcement enterprise information and industry association calculations, the national lithium battery production in the first half of the year exceeded 400GWh, an increase of more than 43% year-on-year, and the revenue of the lithium battery industry in the first half of the year reached 600 billion yuan.
In terms of lithium batteries, the output of energy storage batteries in the first half of the year exceeded 75GWh, and the installed capacity of power batteries for new energy vehicles was about 152GWh. The export value of lithium battery products increased by 69% year-on-year.
In the first half of the year, the output of cathode materials, anode materials, separators, and electrolytes was about 1 million tons, 670,000 tons, 6.8 billion square meters, and 440,000 tons, respectively.
In the first half of the year, the output of lithium carbonate and lithium hydroxide reached 205,000 tons and 140,000 tons respectively, and the average prices of battery-grade lithium carbonate and battery-grade lithium hydroxide (fine powder grade) in the first half of the year were 332,000 yuan/ton and 364,000 yuan/ton respectively. Ton.
In terms of electrolyte shipments, the “White Paper on the Development of China’s Lithium-ion Battery Electrolyte Industry (2023)” released by research institutions EVTank, Evie Economic Research Institute and China Battery Industry Research Institute shows that in the first half of the year, China’s lithium-ion battery electrolyte shipments The volume is 504,000 tons, and the market size is 24.19 billion yuan. EVTank predicts that China’s electrolyte shipments will reach 1.169 million tons in 2023.
In terms of sodium-ion batteries, in the first half of the year, sodium-ion batteries have achieved phased results in product research and development, production capacity construction, industrial chain cultivation, customer verification, improvement of yield rate, and promotion of demonstration projects. According to data from the “White Paper on the Development of China’s Sodium-ion Battery Industry (2023)” released by research institutions EVTank, Evie Economic Research Institute and China Battery Industry Research Institute, by the end of June 2023, the dedicated production capacity of sodium-ion batteries that have been put into production nationwide has reached 10GWh, an increase of 8GWh compared to the end of 2022.
According to data from the National Energy Administration, in the first half of the year, the installed capacity newly put into operation was about 8.63 million kW/17.72 million kWh, equivalent to the total installed capacity in previous years. From the perspective of investment scale, based on current market prices, the newly put into operation of new energy storage drives direct investment of more than 30 billion yuan. As of the end of June 2023, the cumulative installed capacity of new energy storage projects that have been built and put into operation across the country exceeds 17.33 million kW/35.8 million kWh, and the average energy storage time is 2.1 hours.
According to data from the Traffic Management Bureau of the Ministry of Public Security, as of the end of June 2023, the number of new energy vehicles in the country reached 16.2 million, accounting for 4.9% of the total number of vehicles. In the first half of the year, 3.128 million new energy vehicles were newly registered nationwide, a year-on-year increase of 41.6%, a record high.
According to the latest data from the China Association of Automobile Manufacturers, in the first half of the year, the production and sales of new energy vehicles in my country were 3.788 million and 3.747 million, respectively, an increase of 42.4% and 44.1% year-on-year, and the market share reached 28.3%; the cumulative output of power batteries was 293.6GWh, Cumulative year-on-year growth of 36.8%; cumulative sales of power batteries reached 256.5GWh, a cumulative year-on-year increase of 17.5%; cumulative installed capacity of power batteries was 152.1GWh, a cumulative year-on-year increase of 38.1%; charging infrastructure increased by 1.442 million units.
According to data from the State Administration of Taxation, in the first half of the year, the new energy vehicle vehicle and ship tax reduction and exemption reached 860 million yuan, a year-on-year increase of 41.2%; the new energy vehicle purchase tax exemption reached 49.17 billion yuan, a year-on-year increase of 44.1%.
In terms of recalls, data from the State Administration for Market Regulation shows that in the first half of this year, in terms of domestic automobile recalls, a total of 80 recalls were implemented, involving 2.4746 million vehicles. Among them, from the perspective of new energy vehicles, 19 auto manufacturers have implemented a total of 29 recalls, involving 1.4265 million vehicles, which has exceeded the total number of new energy vehicle recalls last year. In the first half of this year, the total number of new energy vehicle recalls accounted for 58% of the total number of recalls in the first half of the year, accounting for nearly 60%.
In terms of exports, data from the China Association of Automobile Manufacturers shows that in the first half of the year, my country exported 534,000 new energy vehicles, a year-on-year increase of 1.6 times; power battery companies exported 56.7GWh of batteries and 6.3GWh of energy storage batteries.
According to data from the General Administration of Customs, in the first half of the year, the total export of my country’s “three new” products, that is, electric passenger vehicles, lithium batteries, and solar cells, increased by 61.6%, driving the overall export growth by 1.8 percentage points, and the green industry has abundant momentum.
In addition, the battery network (mybattery) also counted the investment and expansion of the entire domestic battery industry chain in the first half of the year, mergers and acquisitions, foundation laying, trial production, and order signing. According to the data, according to the incomplete statistics of the battery network, in the first half of the year, a total of 223 investment expansion projects were included in the statistics, of which 182 announced the investment amount, with a total investment of more than 937.7 billion yuan. In terms of mergers and acquisitions, in the first half of the year, excluding the event of transaction termination, there were more than 33 cases related to mergers and acquisitions in the lithium battery field, of which 26 announced the transaction amount, with a total amount of about 17.5 billion yuan. In the first half of the year, there were 125 foundation laying projects, 113 of which announced the investment amount, with a total investment of more than 521.891 billion yuan, and an average investment amount of 4.619 billion yuan; 62 trial production and commissioning projects, 45 announced the investment amount, the total Over 157.928 billion yuan, with an average investment of 3.51 billion yuan. In terms of order signing, in the first half of the year, domestic battery industry chain companies received a total of 58 orders at home and abroad, mainly for lithium batteries, energy storage battery systems and raw material orders.
In terms of performance, according to the statistics of the battery network, listed companies in the battery new energy industry chain have disclosed the performance forecast information for the first half of the year, showing that in the first half of the year, the performance of the entire battery new energy industry chain has shrunk sharply, and the strong growth momentum has ceased. The characteristics are mainly presented in the battery factory: mixed joys and sorrows! Weak demand growth slows down; mining companies: performance dives! Quantity and price double kill + net profit halved; material supplier: performance thunderstorm! The two largest losses in lithium iron phosphate; equipment factory: doubled year-on-year growth! Achievement in the first half of the year as an industry top student. On the whole, there are still challenges behind the opportunities in the battery new energy industry chain. How to gain a firm foothold in the complex market environment and the process of turbulent development remains to be solved.
A few days ago, the Passenger Federation stated that a large number of competitive new products will be launched in the new energy market in the second half of the year, which is expected to bring growth to the new energy market in the second half of the year and support the overall market sales.
The Passenger Association predicts that the retail sales of passenger cars in the narrow sense in July are expected to be 1.73 million units, a month-on-month -8.6% and a year-on-year -4.8%, of which new energy retail sales are about 620,000 units, a month-on-month -6.8%, a year-on-year increase of 27.5%, and a penetration rate of about 35.8%.
Judging from the July data released by new energy brands in early August, in terms of new car-making forces, in July, the delivery volume of five new car-making forces exceeded 10,000 vehicles. More than double; Weilai Automobile delivered more than 20,000 vehicles, a record high; Leap Motors delivered 14,335 vehicles; Xiaopeng Motors delivered 11,008 vehicles, reaching a new milestone of 10,000 vehicles; Nezha Motors delivered new cars Over 10,000 vehicles; Skyworth Automobile delivered 3,452 new vehicles, selling more than 3,000 vehicles for two consecutive months.
At the same time, traditional car companies are also speeding up their embrace of new energy. In July, SAIC Motor sold 91,000 new energy vehicles in July, continuing the good month-on-month growth since January and hitting a new high for the year; Monthly breakthrough of 45,000 units; Geely Automobile’s sales of new energy vehicles reached 41,014 units, a new high for the year, an increase of over 28% year-on-year; Changan Automobile’s sales of new energy vehicles in July were 39,500 units, a year-on-year increase of 62.8%; Great Wall Motors’ sales of new energy passenger vehicles 28,896 vehicles, a year-on-year increase of 163%; the sales volume of Celes new energy vehicles was 6,934; Dongfeng Lantu Automobile delivered 3,412 new vehicles…
Changjiang Securities pointed out that the development of new energy vehicles in the second half of the year is expected to exceed expectations. From the perspective of terminal performance, the current demand is picking up steadily, the inventory level is in a healthy state, and the price level is relatively stable. In the short term, policies and market margins will improve, and the “price war” will ease. With the economic recovery, new energy and total demand are expected to further improve; overseas continued high-growth contribution increases, and inventory is expected to enter a state of stable operation.
Huaxi Securities said that in terms of the new energy vehicle industry chain, in the short term, the destocking of the previous industry chain is basically over + the inventory replenishment is started + in the traditional peak season in the second half of the year, all links are expected to enter the stage of increasing output. In the medium and long term, as the driving force of domestic new energy vehicles is gradually shifting from the policy side to the market side, new energy vehicles have entered a stage of accelerated penetration; overseas electrification has a clear determination, and the development of global new energy vehicles has achieved resonance.
China Galaxy Securities Research Report stated that the darkest hour has passed, the demand for new energy terminals has improved, and the destocking of the lithium battery industry chain has been completed.
Post time: Aug-25-2023