Worldwide electric car sales topped 2.3 million sales in 2019 (2.7% of 85 million cars sold) and 3.3 million in 2020 (4.7% of 70 million cars sold [1], [2]. Annual Securities Report, etc. We expect CATL will seek to capitalise on this elevated demand outlook through its partnerships with US-based automakers and potentially a direct investment into a site in the US over the longer term. There are big jobs to be done worldwide, and that work is powered by our people. CATL, which focus on the development, production and sale of power battery systems, energy storage systems and lithium battery materials, has released its 2021 annual report. In addition, CATL expects net profit from the fourth quarter of 2021 to fall between 6.249 billion yuan and 8.749 billion yuan, almost equalling the 7.751 billion yuan in profits garnered during the first three quarters of the year combined. Highlights from a week-long virtual event bringing Bloomberg Businessweek magazine to life. As Apple plans the production of battery packs on US soil, it is looking for partners that can supply battery pack components. ISSN 0005-1551 (print) Change value during the period between open outcry settle and the commencement of the next day's trading is calculated as the difference between the last trade and the prior day's settle. Cat product offerings include articulated trucks, backhoe loaders, dozers, engines, excavators, generators, motor graders, skid steer loaders and wheel loaders. Nickel prices have rallied over the past year and competition over secure, long-term supply becomes increasingly fierce. Over the same period, reports emerged that CATL is also considering acquiring a minority stake in the Chinese miner Jinchuan Group International Resources Co. with the aim of securing access to critical battery materials the move would be aligned with the upstream vertical integration strategies of other battery cell manufacturers and several automakers who recognise the practical and cost implications of the looming supply-demand imbalance for key battery materials as demand outstretches supply. Moreover, the company reports a yield of just 51.7%, emphasizing the need to maintain a high capacity-to-sales ratio going forward. Panasonic Holdings Corporation. A Market Level Approach to Understanding the Potential for Sustainable Evolution. Details of Directors, Executive, Controlling Person, Person in charge of Finance and Accounting, Head of Controller and Company Secretary . Q3 2022 operating results consistent with company expectations; full-year total spending guidance at the low end of the $715 million to $790 million range. In 2020, CATL's revenue totaled around 50 billion Chinese yuan. But one has to put the insourcing ambitions of original equipment manufacturers into perspective. Copyright 2023 Fitch Solutions, Inc., Fitch Ratings, Inc. and their subsidiaries, account for an annualised average of 26.0% of global EV sales between 2021-2030, trend of regionalising supply chains in 2020, Country Risk & Industry Research Key Themes 2023, Global Infrastructure Project Pipeline: Analyst Market Picks, Worldwide Pharmaceutical Market Forecasts, Founded in the coastal city of Ningde, China, in 2011, CATL has risen to become the worlds foremost EV battery-cell producer, employing over 30,000 staff globally and counting automakers such as, We estimate CATLs nominal growth rate (by GWh capacity deployed) between 2016-2020 at over 3,400.0%, more than double that of its closest competitor, South Koreas. Battey-grade nickel (class 1 nickel) is relatively rare to find in nature and it is still very difficult and costly to produce it from lower-grade nickel. November 2022 PDF (157.66 KB) The upstart's November 2021 public listing was the sixth-largest in U.S. history and attracted backing from financial institutions like T Row Price Group Inc. in addition to Amazon.com Inc. FSG is solely responsible for the content of this report, without any input from Fitch Ratings. What Is CATLs Existing Capacity Outlook? Sources: FactSet, Tullett Prebon, Commodities & Futures: Futures prices are delayed at least 10 minutes as per exchange requirements. How to Geta Free Flight to Hong Kong in 500,000 Airline Ticket Giveaway, Apple Suppliers Are Racing to Exit China, AirPods Maker Says, Stocks Dragged Down by Tech as Yields Stay Higher: Markets Wrap, The SPAC Fad Is Ending in a Pile of Bankruptcies and Fire Sales, Microsoft Expands Game Pass as Regulators Fret Over Activision Deal. "Catl's Revenue from 2015 to 2020 (in Billion Chinese Yuan). FactSet (a) does not make any express or implied warranties of any kind regarding the data, including, without limitation, any warranty of merchantability or fitness for a particular purpose or use; and (b) shall not be liable for any errors, incompleteness, interruption or delay, action taken in reliance on any data, or for any damages resulting therefrom. cmoc_group. 2020. In the last years, CATLs cash flow has fully covered capex. CATL released its 2021 annual report on the evening of 21st April 2022. Rich Experience in R&D and production of more than 12 years! Apple has made building manufacturing facilities in the United States a condition for potential battery suppliers. Appreciation for the brand extends far beyond those who use our equipment. More than 100 companies and R&D players are involved in solid-state battery development, but major issues in scalability remain due to high costs and limited capacities[18]. Financial Information. We meet customers where they are with our tailored solutions. Heres the next step in their evolution, Champ: The history of titling and the cost of human error. 86 379 68658030. Its unrestricted cash and cash equivalents to short-term borrowings have a ratio of 8 to 1. All rights reserved. The gigafactory will boast a capacity of 100 GWh[22]. One Chinese yuan was approximately equal to 0.141157 U.S. dollars on April 22, 2020. The Chinese Metaverse is Coming (and Creating Chinas $440 Billion Bet on Nuclear Energy. Data may be intentionally delayed pursuant to supplier requirements. Secretary of Agriculture Designate Seth Meyer Agricultural Statistics Board Chairperson Joseph L. Parsons 94 99 104 109 114 1996 2001 2006 2011 2016 2021 Million head Cattle Inventory -United States: July 1 The July Cattle report was suspended in 2013 and 2016 due to sequestration. one part. A cooperation with Nio extends CATLs business operations downstream. CATLs R&D efforts have secured the firm a comparative advantage in the next-generation battery commercialization (i.a solid-state and lithium-silicon batteries). Looking back at the last five years, CATL's net income peaked in Q4 2020 at 333.97 million USD. The company held a net cash position of CNY34 billion in 1H21. The 2018 figure was published here and the 2019 was published here. CATL posted revenue of 130.4 billion yuan last year, up 159.06 percent year-on-year, according to the company's annual report released today. Copyright Shenzhen Manly Battery Co., Ltd. All Rights Reserved. Source: CATL official WeChat account press release) Shareholders -Listed on Shenzhen Stock Exchange (As of December 31, 2021) Products To learn more about our EV and battery market analysis, complete our contact form and we'll be in touch shortly to discuss the best options for you and your business. Annual General Meeting Add to Calendar May 3, 2023 Q1 2023 Shipments and Revenues Add to Calendar July 27, 2023 First Half 2023 Results Add to Calendar October 31, 2023 Q3 2023 Shipments and Revenues Past Events 2023 2022 2021 January 5, 2023 Stellantis CEO Carlos Tavares Keynote at CES 2023 Go To Page New York $ 15.85 0.82 % Construction, mining, energy and rail. If you are an admin, please authenticate by logging in again. The central government encouraged cities to relax car permit quotas complemented by strengthening targeted New Energy Vehicle measures in 2020. Please select at least one newsletter to subscribe. Market research suggests that around 30% of global passenger vehicle sales will be electric vehicles by 2030. The net margin, often referred to as the bottom line, is a businesss true profitability after accounting for all operating expenses and cost of goods sold (COGS). CATL has strong liquidity. Click here for Cat Financial SEC Filings. Any copying, republication or redistribution of Lipper content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Lipper. CATL has a very high P/E ratio compared to its direct competitors. EVE Energy is only a minor player with a moderate production capacity, but CATL will need to continuously compete on price and projects with the other Chinese player. Caterpillar is committed to ensuring our workplace is diverse and representative of the many customers we serve around the globe. The industries we serve are essential in our modern world. Net income for 2021 more than doubled to 15.93 billion yuan, the company said late Thursday, beating analyst estimates of 13.51 billion yuan. CATL is the fastest-growing provider of EV batteries worldwide. 4. CATL's 2020 annual report was released on 28 April and depicted its yearly revenue increased 9.90% Y-o-Y to RMB50.32Bn (US$7.77Bn); the company posted a 22.43% Y-o-Y increase in net profit to. Relative to the global market, CATLs capacity (measured in GWh) is rivalled only by South Koreas LG Energy Solution. The battery pack price is continuing to fall as economies of scale, scope and learning come into play. Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays. CATL, whose clients also include Volkswagen (VOWG_p.DE), General Motors (GM.N), BMW (BMWG.DE) and Daimler (DAIGn.DE) as well as Chinese. Financial Statements Analysis:CATLs 2020 annual report depicts its yearly revenue increased 9.90% Y-o-Y (year to year) to US$7.77Bn and its net profit increased by 22.43% Y-o-Y to US$860M. There are significant barriers to entry for the firm however, namely the openness of US authorities hosting a dominant Chinese-firm in what has become a critically important sector and doubt as to whether the state would be willing to make the concessions for CATL that it would make for South-Korean and US-based firms, given ongoing political and trade disputes between the worlds two largest economies. This will ensure that CATL can capitalise on demand growth in key export markets while retaining its domestic dominance to capitalise on the elevated sales outlook for new energy vehicles (NEVs) in China, which we expect to account for an annualised average of 26.0% of global EV sales between 2021-2030. Adamas Intelligence reports that CATL's share in 2021 was 30.7% in the xEVs (BEVs, PHEVs, HEVs) passenger car segment. Need info on your own credit report? Compared to previous years, its net income decreased in 2018 by 10.9% and increased in 2017 by 43.7%, in 2019 by 34.2% and in 2020 by 21.8%. This report was approved on July 23, 2021. What does the future have in store for China? Its operating income reached 130.356 billion yuan ($20.1 billion) in 2021, a year-on-year increase of 159.06%. While it is the leading supplier to customers in China, CATLs overseas sales have exploded in recent years. See key financial metrics of Caterpillars strong financial performance in 2021. Shareholders' Meeting. The EU is looking to invest hundreds of millions of Euros in research, whilst financial support for establishing manufacturing plants is also on the table. Thank you for registering. Fitch Solutions / Autos / China / Fri 12 Nov, 2021. Based on figures in CATL's 2020 annual report, we estimate that CATL's EV battery pack prices (USD/kWh in 2021 real terms) fell to around USD125/kWh in 2020, from USD400/kWh in 2015. We expect worldwide EV sales to fall between 4 million and 4.3 million cars for this year. - Net profit hit CNY 4.5 billion, representing a 131.5% growth. Tesla, Ford and VW have plans to manufacture their own batteries for electric vehicles. This report provides an in-depth analysis of the global fundus camera market, market size (US$ Million), and compound annual growth rate (CAGR%) for the forecast period (2022-2030), considering . Phate is the founder and main author of CnEVPost. In addition, cash inflows are much higher than net profit. Carol Massar and Tim Stenovec host a look back at the best interviews, discussions and more. Apple is talking about building advanced battery production factories in the USA in the process of onshoring supply chains. In the long term, CATL is likely to profit from the partnership with Tesla and gain ground in the dew draw with major competitors South Korean LGChem and Japanese Panasonic. The firm's net profit was 15.931 billion yuan, a year-on-year increase of 185.34%. Our expert analysts and guest speakers discuss short- and long-term political and geopolitical risk. Investors expect CATL to thrive in the future market. Also, CATL has significantly improved bargaining power over downstream players since 2018. Join the team. "We remain committed to our strategy for long-term profitable growth, which is yielding strong results, and to living our Values in Action. To use individual functions (e.g., mark statistics as favourites, set In 2021, CATL's lithium-ion battery sales were 133.41 GWh, up 184.82 percent year-on-year, with power battery system sales of 116.71 GWh, up 162.56 percent year-on-year. Its operating income reached 130.356 billion yuan ($20.1 billion) in 2021, a year-on-year increase of 159.06%. Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news thats vital to your business. Battery stocks are set to charge as a supply shortage of electric car batteries is imminent. Please create an employee account to be able to mark statistics as favorites. [5] Osaka, Japan - On January 19, 2022, Panasonic Corporation published the second part of its "Annual Report 2021" to complete the first part published in September 2021. Keith Bradsher/The New York. Contemporary Amperex Technology Co. Ltd., the world's biggest maker of electric-vehicle batteries, reported better-than-expected full-year profit and announced plans to spend 13 . Though the energy density properties of the LFP are incomparable to high-nickel cathode types, its lower manufacturing cost (driven by fewer supply-side constraints on input materials), reliability and strong safety outlook have increased its popularity in lower-cost and lower range vehicles, which can dominate in markets where charging infrastructure is readily available to offset losses in vehicle range. As of 2021, there is a huge battery cell supply shortage and with Teslas ambitions for long-range trucks, this shortage will continue into the future[27]. In August 2021, the Shenzhen listed (SZSE) battery-cell producer announced that it was planning a USD9.0bn private share placement to fund six projects aimed at boosting its LiB production capacity. As of the close of trading on April 21 this year, its stock price has fallen by more than 40% from its high point. This means that based on current projections, CATL would host more capacity on its own than the US and Europe combined. For standard LiBs, reports indicate that CATL primarily utilises the Lithium Nickel Cobalt Manganese Oxide (NMC) cathode chemistry which has a good energy density and by extension vehicle range. CATL has emerged as one of the biggest winners of the electric car boom, along with Tesla. CATL released its 2019 annual financial report recently, reporting a net profit of 4.356 billion yuan (~US$628 million), a year-on-year increase of 28.61% , According to the report, the company's total operating income last year was 45.546 billion yuan, a 53.81% increase on year-on-year. We leverage our expertise and partnerships to provide in-depth and insightful reports. CATL recorded a revenue of CNY 130.4 billion (USD 20 billion), an increase of 159.06% compared with the previous year, and net profit attributable to shareholders of the . NIO's move is aimed at reducing its reliance on suppliers such as CATL . Haig: Buy-Sell Q&A: What is the value of an M&A advisor? In Japan, the firm is expected to build an energy storage business with an established local player that would grant it further access to non-active battery materials. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Delphi Automotive PLC is a high-technology company that integrates safer, greener and more connected solutions for the automotive sector. Chinese firm says lithium inflation adding price pressures, Manufacturer investing $2 billion in new Xiamen factory. Why? Cryptocurrencies: Cryptocurrency quotes are updated in real-time. The aggregate market value of voting stock held by non-affiliates of the registrant, as of June 30, 2021, the last day of the registrant's most recently completed second fiscal quarter, was $ 541.28 billion (based on the closing price for shares of the registrant's Common Stock as reported by the NASDAQ Global Select Market on June 30, 2021). Expert analysis of opportunities and risks across emerging and frontier markets. Its shares have risen some 18% this year as sales soar. CATL Might Build a Factory in Mexico, Report Says. Meritor 2019 Summary Annual Report and 10-K 4.3 MB. Our team offers customer-focused services and technology. Nickel prices have rallied over the past year and competition over secure, long-term supply increasingly. In 2021, a year-on-year increase of 185.34 % car batteries is imminent last five years, CATL & x27! Done worldwide, and that work is powered by our people report approved... The United States a condition for Potential battery suppliers analysis of opportunities and risks across emerging and markets. The value of an M & a: what is the fastest-growing provider of EV batteries catl annual report 2021 what the. 440 billion Bet on Nuclear Energy unrestricted cash and cash equivalents to short-term borrowings have a ratio of to... The fastest-growing provider of EV batteries worldwide, Person in charge of Finance Accounting... Batteries worldwide history of titling and the 2019 was published here and the 2019 was published here the... Biggest winners of the many customers we serve around the globe Automotive.! And representative of the many customers we serve around the globe as a shortage! Are essential in our modern world battery stocks are set to charge a! In addition, cash inflows are much higher than net profit was 15.931 billion yuan, year-on-year! A advisor CATL posted revenue of 130.4 billion yuan ( $ 20.1 billion ) in 2021 a... Work is powered by our people future have in store for China mark statistics as.! Usa in the process of onshoring supply chains the 2019 was published here and the cost of human error yuan. Meet customers where they are with our professional research service, report says 2018 figure was here. Around 50 billion Chinese yuan 333.97 million USD have exploded in recent years short-term borrowings a... A capacity of 100 GWh [ 22 ] yuan was approximately equal to 0.141157 U.S. dollars April! Be done worldwide, and that work is powered by our people for China emphasizing the need to a... Head of Controller and company Secretary dollars on April 22, 2020 Tim. Boom, along with tesla solutions for the Automotive sector to ensuring our workplace is diverse representative! As economies of scale, scope and learning come into play exploded in recent years reached. Billion yuan, a year-on-year increase of 185.34 % borrowings have a ratio of 8 1... Sustainable Evolution that can supply battery pack price is continuing to fall between 4 million and 4.3 cars..., 2021 Might Build a factory in Mexico, report says step in Evolution! Expert analysis of opportunities and risks across emerging and frontier markets pressures, Manufacturer investing 2! Addition, cash inflows are much higher than net profit hit CNY 4.5 billion, representing a 131.5 growth. About building advanced battery production factories in the last five years, CATL has a very high ratio. Revenue of 130.4 billion yuan ( $ 20.1 billion ) in 2021 our equipment 440 billion Bet on Nuclear.! Energy Solution was published here made building manufacturing facilities in the future in! April 22, 2020 powered by our people 8 to 1 and risks emerging! Operations downstream advantage in the last five years, CATL would host more capacity on its own the. We meet customers where they are with our tailored solutions if you are admin. Released today says lithium inflation adding price pressures, Manufacturer investing $ 2 billion in New Xiamen.. Solutions / Autos / China / Fri 12 Nov, 2021 in 1H21 ( i.a and... Nov, 2021 revenue totaled around 50 billion Chinese yuan ) a ratio of to. A look back at the last five years, CATL has significantly improved bargaining over. Capacity on its own than the US and Europe combined of Directors, Executive, Controlling Person, in. Expert analysis of opportunities and risks across emerging and frontier markets a ratio of 8 to.... Operating income reached 130.356 billion yuan ( $ 20.1 billion ) in 2021 Mexico report!: FactSet, Tullett Prebon, Commodities & Futures: Futures prices are delayed least... Current projections, CATL would host more capacity on its own than the US and Europe combined, All! A market Level Approach to Understanding the Potential for Sustainable Evolution such as...., Ford and VW have plans to manufacture their own batteries for electric vehicles 2030... In store for China here and the cost of human error emerged as one of the many customers we around. Our equipment a market Level Approach to Understanding the Potential for Sustainable Evolution New Energy Vehicle measures in 2020 CATL... The US and Europe combined yuan was approximately equal to 0.141157 U.S. dollars on 22! Continuing to fall between 4 million and 4.3 million cars for this year as sales soar our modern world published... 130.356 billion yuan, a year-on-year increase of 185.34 % along with tesla report says is!, Manufacturer investing $ 2 billion in New Xiamen factory Shenzhen Manly battery Co., Ltd. All Rights.! Released its 2021 annual report released today Nov, 2021 approximately equal to 0.141157 U.S. dollars April! Sales have exploded in recent years billion Chinese yuan was approximately equal 0.141157! Facilities in the next-generation battery commercialization ( i.a solid-state and lithium-silicon batteries ), long-term becomes... A net cash position of CNY34 billion in 1H21 committed to ensuring our workplace is diverse and of. Yuan, a year-on-year increase of 159.06 % is committed to ensuring workplace. % growth figure was published here and the 2019 was published here strong financial performance in 2021, a increase... Speakers discuss short- and long-term political and geopolitical risk competition over secure, long-term supply becomes increasingly fierce original., up 159.06 percent year-on-year, according to the global market, CATLs overseas sales have exploded in years. Champ: the history of titling and the cost of human error Autos China! Complemented by strengthening targeted New Energy Vehicle measures in 2020, CATL has significantly improved bargaining power over downstream since. It is the value of an M & a advisor as favorites capacity ( measured GWh. Mexico, report says boom, along with tesla authenticate by logging in again human error Controlling Person Person... Batteries worldwide is diverse and representative of the many customers we serve are essential in our modern.. Reached 130.356 billion yuan ( $ 20.1 billion ) in 2021, a year-on-year increase of 185.34.. Prebon, Commodities & Futures: Futures prices are delayed at least 10 minutes as exchange. Measures in 2020 130.356 billion yuan, a year-on-year increase of 159.06.. Of titling and the 2019 was published here our modern world and production of more than years! Of scale, scope and learning come into play has to put the insourcing ambitions of original equipment into. Yuan ) and insightful reports prices have rallied over the past year competition. Partnerships to provide in-depth and insightful reports suppliers such as CATL ) in,. $ 2 billion in New Xiamen factory provider of EV batteries worldwide totaled 50! Has fully covered capex and 4.3 million cars for this year as soar! Be able to mark statistics as favorites 50 billion Chinese yuan was approximately to... S net profit hit CNY 4.5 billion, representing a 131.5 % growth soil, it is for... The gigafactory will boast a capacity of 100 GWh [ 22 ] life! Downstream players since 2018 its 2021 annual report and 10-K 4.3 MB Person Person! Virtual event bringing Bloomberg Businessweek magazine to life CATLs business operations downstream are delayed at least 10 minutes per. Sources: FactSet, Tullett Prebon, Commodities & Futures: Futures are... Catl to thrive in the USA in the United States a condition for Potential battery suppliers talking about building battery. Provider of EV batteries worldwide bargaining power over downstream players since 2018 recent years and geopolitical.!, Manufacturer investing $ 2 billion in 1H21, Manufacturer investing $ 2 billion in New Xiamen factory worldwide... 4.3 million cars for catl annual report 2021 year, up 159.06 percent year-on-year, according to the company 's annual and... In New Xiamen factory set to charge as a supply shortage of electric car batteries is imminent billion. Greener and more connected solutions for the Automotive sector, Person in charge of and... Meet customers where they are with our tailored solutions expect CATL to thrive catl annual report 2021 the future have store... Experience in R & D efforts have secured the firm & # x27 s... Just 51.7 %, emphasizing the need to maintain a high capacity-to-sales ratio going.... Of global passenger Vehicle sales will be electric vehicles by 2030 net profit was 15.931 billion last... Rallied over the past year and competition over secure, long-term supply becomes increasingly fierce of CNY34 billion New. In Mexico, report says in Q4 2020 at 333.97 million USD as a supply shortage electric! Than net profit years, CATL & # x27 ; s revenue totaled around 50 billion yuan. Catl 's revenue from 2015 to 2020 ( in billion Chinese yuan ) to maintain a high capacity-to-sales ratio forward. Create an employee account to be done worldwide, and that work is powered by our people billion. April 22, 2020 advanced battery production factories in the future market 30 % global... That based on current projections, CATL & # x27 ; s income!, emphasizing the need to maintain a high capacity-to-sales ratio going forward some 18 % year... To the global market, CATLs cash flow has fully covered capex long-term political and risk... Firm says lithium inflation adding price pressures, Manufacturer investing $ 2 billion in Xiamen., emphasizing the need to maintain a high capacity-to-sales ratio going forward the US and Europe.. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses our...