17 new three board new energy companies last year net profit doubled lithium battery industry rapid growth

There are 17 companies whose net profit has more than doubled year-on-year, of which 5 companies have increased more than 5 times. These companies are mainly engaged in lithium battery electrolyte production and sales, photovoltaic power generation and energy-saving renovation projects and other related businesses.

17 new three board new energy companies last year net profit doubled lithium battery industry rapid growth

Wind statistics show that among the 96 new energy companies in the New Third Board, 88 disclosed the results of the 2016 annual report. Among them, 45 net profit achieved year-on-year growth; 43 companies decreased year-on-year. There are 17 companies whose net profit has more than doubled year-on-year, of which 5 companies have increased more than 5 times. These companies are mainly engaged in lithium battery electrolyte production and sales, photovoltaic power generation and energy-saving renovation projects and other related businesses.

Lithium battery industry is growing rapidly

According to statistics, among the above 88 companies, 55 companies achieved year-on-year growth in operating income, accounting for 63%; 33 companies fell, accounting for 37%. The net profit increased by 45 companies, accounting for 51%; the net profit decreased by 43 companies, accounting for 49%. Overall, there are 10 companies that have increased their income without increasing profits.

Among the companies with a year-on-year increase in net profit, the three companies increased by more than 20 times; 14 companies increased between 1 and 5 times; 9 companies increased by 50% to 100%; the increase was 0-50%. 19 companies.

Among the companies with a decline in net profit, 12 companies fell by 1-10 times, and 31 companies fell by 0-100%.

From the perspective of sub-sectors, the growth of related sub-sectors such as lithium battery electrolyte, lithium battery materials, photovoltaic power generation systems, and energy-saving retrofits is more obvious. Taking Jinhui as an example, the company's revenue growth rate in 2016 was as high as 126.86%, and the net profit growth rate was 111.67%. According to the company, the increase in operating income exceeded the increase in operating costs, and the company's operating profit increased significantly, resulting in a substantial increase in net profit.

Jinhui's revenue mainly comes from the sale of lithium battery electrolyte. According to the company, as the scale of business expands, the company gradually eliminates customers with poor quality and develops high-quality strategic cooperation customers. After years of market development and technological innovation, the company has carried out work on lithium-ion battery electrolyte formulation and electrolyte system improvement to improve electrolyte performance.

Lithium-ion products have higher requirements on technology and process, and high-tech companies with technological innovation capabilities have a stronger growth rate. Taking Langyue Energy as an example, the company achieved revenue of 106 million yuan in 2016, a year-on-year increase of 95%. The net profit attributable to listed companies was 6.038 million yuan, a year-on-year increase of 61%. In 2016, the company highlighted its product features and maintained rapid growth in the field of lithium-ion intelligent solar street lamps. At the same time, the company controlled its business risks and achieved stable development.

Photovoltaic industry

The performance of the new three-board company in the photovoltaic power generation industry is in a state of turmoil.

Benefiting from the “rushing tide”, the performance of the new three board companies in most photovoltaic industries is growing faster. Taking Hengrui Energy as an example, the company achieved a net profit of 25.628 million yuan in 2016, a year-on-year increase of 103.94%. The company is mainly engaged in the commissioning of photovoltaic power stations and the production and sales of electric vehicle charging pile products. The company said that during the reporting period, in the photovoltaic application sector, the company focused on EPC general contracting, operation and maintenance, photovoltaic poverty alleviation projects and photovoltaic support sales for large-scale projects; in the electric vehicle charging pile application sector, continuously increase research and development efforts, product adaptation is high , medium and low-end customer demand, and constantly increase market share.

Affected by the decline in PV module prices, some PV companies' operating income and gross profit margin decreased. Taking Wanjia Tianneng as an example, in 2016, the company achieved revenue of 27.1395 million yuan, a year-on-year decrease of 57.89%; the loss was 8.16 million yuan, a year-on-year decrease of 321.32%. There are four main reasons for the decline in performance: sales of component sales market are blocked, downstream distributors are restricted by capital conditions, and delivery is reduced; newly developed home photovoltaic power plant market areas require a certain period of time and have not yet been converted into sales revenue; The company reduced the production of a certain number of components, the production capacity was partially limited, and the cost of manufacturing costs increased to the unit cost; the price of solar cells, an important raw material for the production of battery components, continued to rise, resulting in higher costs and lower gross profit margins.

In addition, the performance of Haiyang in the light-heat related companies declined significantly. In 2016, Zhonghaiyang's revenue decreased by 46% year-on-year, and the net profit attributable to listed company shareholders decreased by 739% year-on-year. According to the company, in 2016, the company tilted its business development focus to the development direction of solar thermal power stations. Due to the impact of the photovoltaic power prices in 2016, the indicators of centralized photovoltaic power plant projects and photovoltaic front-runner projects were approved in the second half of the year. The bidding work was delayed. At the same time, the sales structure of the current period has changed, and the proportion of sales of brackets and components with relatively low gross profit levels has increased.