Shulou(Shulou.com)11/24 Report--

March 20 news, according to foreign media reports, with the development of electric vehicles, a number of battery manufacturers have emerged in the world, including the domestic Ningde era, South Korea's LG New Energy, SK On and Samsung SDI and Japan's Panasonic, their revenue is also increasing with the increase in demand for electric vehicles.

According to the data of the research institute, the domestic Ningde era was higher than the three South Korean manufacturers that were vigorously developing the electric vehicle battery business in terms of sales and net profit last year.

In terms of revenue, Ningde era last year was 328.594 billion yuan, equivalent to about $47.6 billion, an increase of 152.07% year-on-year. LG New Energy was $19.4 billion, Samsung SDI was $15.3 billion, and SK On was $5.8 billion. The combined revenue of the three companies was $40.5 billion, $7.1 billion lower than in Ningde era.

Higher revenue means higher market share in the Ningde era. Ningde's global market share last year was 37 per cent, up 4 percentage points from 2021, according to the agency. LG New Energy is the highest of South Korea's big three, but its market share fell 6 percentage points to 23 per cent last year.

In terms of profits, the net profit of Ningde Times belonging to shareholders of listed companies last year was 30.729 billion yuan, equivalent to about $4.451 billion, an increase of 92.89% over the same period last year; among the three major South Korean manufacturers, LG New Energy was $533 million, Samsung SDI was $610 million, and SK On had a net loss of $762 million, and the net profit of the three companies was less than 10% of that of Ningde era.

Higher revenue means that the Ningde era has the ability to invest more heavily in R & D and capacity expansion. Foreign media also mentioned in the report that Ningde Times invested about $2.2 billion in research and development last year, significantly higher than the $610 million of LG New Energy and the $762 million of Samsung SDI.

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