AutoBeta(AutoBeta.net)04/09 Report--

Ningde Times announced that in the first quarter of 2019, the net profit attributable to shareholders of listed companies is expected to be 992 million-1.116 billion yuan, an increase of 140% over the same period last year. After deducting non-recurrent profits and losses, the net profit attributed to shareholders of listed companies is 888 million-969 million yuan, an increase of 230% over the same period last year.

As for the main reason for the rise in net profit, Ningde Times explained that: with the rapid development of the new energy vehicle industry, the domestic market demand for power batteries has increased compared with the same period last year; the company has strengthened market development and released production capacity in the early stage. Production and sales volume increased accordingly; the company continued to strengthen cost control, reducing the proportion of expenses to income.

Ningde Times, referred to as CATL, was established in 2011 and listed on the Shenzhen Stock Exchange on June 11, 2018. It can be said that China's new energy policy contributed to the "unicorn" Ningde era, with operating income of 19.997 billion yuan in 2017, an increase of more than 34% over the same period last year, and net profit of 3.972 billion yuan, an increase of 31.4% over the same period last year. In 2018, total revenue reached 29.611 billion yuan, an increase of 48.08% over the same period last year. Net profit belonging to shareholders of listed companies was 3.579 billion yuan, down 7.71% from the same period last year. At present, Ningde era has provided batteries to BMW, BAIC New Energy, Geely Automobile, Changan Automobile, Dongfeng Automobile and other car companies, and has also established a joint venture with SAIC.

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