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Ningde Times New Energy Technology Co., Ltd.(hereinafter referred to as "Ningde Times") is the largest power battery company in the new energy automobile industry. Recently, the performance report for the first half of 2019 was released. According to the report data, in the first half of 2019, Ningde Times is expected to achieve a net profit of 2 billion-22. 7.8 billion yuan, up 120%-150% year-on-year.

Ningde Times disclosed in the report that the main reason for the increase in performance in the first half of 2019 compared with the same period last year was that, with the rapid development of new energy industry, the market demand for power batteries increased compared with the same period last year; the company strengthened market development, released production capacity in the early stage, and increased production and sales accordingly.

In addition to the improvement of performance, Ningde Times also arranged multi-party cooperation in the first half of this year, including the establishment of a power battery joint venture company with FAW and cooperation with Toyota Motor.

In addition, Ningde Times also strengthened its overseas layout. On June 25, Ningde Times issued an announcement saying that according to the overseas business development status and changes in market demand, it would further deepen the company's global strategic industrial layout. The company deliberated and approved the Proposal on Increasing Investment in European Production R & D Base Project, and agreed to expand the investment scale in European Production R & D Base Project. After the increase, the total investment of the project will not exceed 1.8 billion euros. Obviously, riding the "ride" of the rapid development of new energy in China, the business scope of Ningde era is expanding day by day.

However, it should be noted that since March 26 to June 25 of this year is the transition period of new energy subsidies, the new energy automobile industry rush to install will lead to the demand for power batteries being overdrawn in advance, and the third quarter will be the off-season of Ningde era.

On June 25, the transition period of new energy subsidy slope officially ended. This year, the subsidy policy for new energy vehicles will not only cancel local government subsidies, but also reduce the state subsidy standard by more than 50%, and the overall subsidy slope will exceed 50%. The most direct impact of this is on the sales of new energy vehicles.

According to statistics released by the Federation recently, the cumulative sales volume of new energy vehicles in China in the first half of this year was 577,000, up 65.9% year-on-year, which was much lower than the 123% growth rate in the same period last year. This will also affect all companies in the electric industry chain.

In addition, some analysts believe that the revenue growth of Ningde era in the future will enter the downward range, and it is estimated that the revenue growth rate from 2019 to 2021 will be 39.33%, 26.19% and 24.41% respectively.

Compared with the performance in 2018, Ningde Times 'performance in the first half of 2019 can be considered excellent. According to its 2018 performance report, it achieved a total operating income of 29.611 billion yuan and a net profit attributable to shareholders of listed companies of 3.579 billion yuan, down 7.71% year-on-year.

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