近日，A股上市公司相继披露三季报或业绩预告，国内动力电池企业Q3业绩大多表现不俗。

　　今年以来，电动汽车产销量的高增长，直接带动了动力电池行业景气度的提升。在此背景下，在产能、供应链、客户等方面拥有领先优势的头部电池企业，虽然受到上游原材料上涨、疫情等不利因素的影响，但大部分企业依然迎来了业绩增长。

　　数据显示，部分头部动力电池企业第三季度营收同比增幅明显，净利润同比增长最高超500%。

　　· 宁德时代：拥有/规划13大基地，产能释放充分

　　今年第三季度，宁德时代实现营业收入达973.69亿元，同比增长232.47%;净利润为94.24亿元，同比增长188.42%，超出市场预期。

　　对于业绩增长，宁德时代表示，受益于不断推出行业领先的产品解决方案，加强市场开拓力度，加之前期布局产能释放，产品产销量明显提升，推动其全球市场地位持续领先，并实现了盈利规模快速增长。

　　数据显示，宁德时代今年上半年电池产能达154.25GWh，产能利用率为81.25%，在建产能有100.46GWh。进入下半年，还陆续宣布在河南洛阳、匈牙利等地将巨资布局新的电池产能。目前，其拥有或规划共13个独资电池生产基地，包括国内11个基地以及位于德国和匈牙利的2个海外基地。

　　面对近两年锂盐等原材料的暴涨，宁德时代董事长曾毓群近日表示，“对整个产业链造成伤害。我们需要正确认识和把握锂电池初级产品供给保障的战略意义，加快国内锂资源的开发利用，大幅度提高上游矿产资源的保供稳价能力，同时要推进电池循环回收体系的完善，以降低成本，促进电动化的普及和行业的健康有序发展。”

　　为此，在供应链保障方面，进入2022年，宁德时代江西碳酸锂基地落地、海外关键资源如印尼镍项目也在持续推进……将发挥资源自供的便利和成本等优势。

　　客户方面，宁德时代在国内市场的核心客户包括特斯拉、蔚来、小鹏、大众、吉利、理想、东风、长城、华晨宝马等公司，海外市场的核心客户有大众、奔驰、宝马、PSA、雷诺-日产等。

　　· 亿纬锂能：加码上游，调整定价机制

　　亿纬锂能第三季度实现营收93.57亿元，同比增长91.43%，净利润13.06亿元，同比增长 81.18%。“强化了供应链管理，积极开展上游供应链布局。”是亿纬锂能业绩大增的原因之一。

　　其持续推进与上游公司的深度战略合作，通过与上游公司设立合资公司的方式，实现战略协同，一方面确保了原材料的稳定供应，另一方面降低了原材料采购成本。同时，供应链管理发挥了重要作用。

　　2021年以来，亿纬锂能锂资源布局广泛，已收购大华化工股权、金昆仑锂业股权、成立合资公司金海锂业，与蜂巢能源以及川能动力建立锂盐合资厂，与紫金锂业等建设锂盐合资厂等方式。另外，与华友钴业合建镍钴产能项目。

　　亿纬锂能还与贝特瑞、SK、德方纳米合建正极产能项目;与中科星城合建负极产能项目;与恩捷股份合建隔膜产能项目;与新宙邦合建电解液产能项目……

　　除了加码上游，亿纬锂能还适时调整了自身产品定价机制，各产品线的盈利能力得到较好修复;并且随着新产线进入量产阶段，出货规模增长迅速，使其主业电池业务收入及利润增长大幅增长。

　　产能方面，今年1-6月，亿纬锂能先后在国内的荆门、成都、云南玉溪、曲靖，以及匈牙利等地布局动力及储能电池项目，现有及规划产能超过 260GWh。

　　目前，46系三元大圆柱电池已成为亿纬锂能动力电池拳头产品之一。其产品已获得宝马和大运的合作定点。动力电池领域，其主要客户覆盖小鹏、广汽、东风、现代起亚、戴姆勒、宝马、捷豹路虎等国内外知名主机厂商。

　　此外，近期亿纬锂能发布了储能电池LF560K，具有560Ah超大容量，采用了面向TWh级别储能规模的电芯创新技术。目前，其已经与国内主要电信运营商、通讯设施龙头、多地电网公司在通信储能等领域开展合作，并在家庭储能、工商业储能领域积累了一批品牌客户。

　　· 国轩高科：“隐形材料巨头”第三季度净利润增长超3倍

　　国轩高科第三季度实现营业收入57.88亿元，同比增长166.33%;净利润为8556万元，同比高增355.20%。

　　对于业绩的增长，国轩高科表示主要由于客户结构持续优化，在扩大电动车客户的同时，加快储能市场布局;公司全球布局不断完善，产能释放加速。

　　产销量的高增，离不开稳定的供应链。国轩极为重视对锂电原材料的布局，目前已初步形成五大材料基地，分别位于安徽庐江、安徽肥东、江西宜春、内蒙古乌海和阿根廷胡胡伊省，被称为动力电池领域的“隐形材料巨头”。

　　根据国轩高科的规划，2022年其电池产能将突破100GWh，2025年拟突破300GWh。

　　客户方面，动力领域，国轩高科已经与吉利、长安、长城、奇瑞、零跑、威马、上汽通用五菱、印度塔塔等数十家主机厂形成长期合作，目前正全力拓展造车新势力以及国际高端客户，培育新的市场增长点，加速其国际化进程。储能领域也持续发力，国轩高科已与苏美达签订《战略合作协议》，未来三年内总计合作储能项目预计达10GWh;中标新源智储储能电池相关项目，预计对方采购总量不超过600MWh。

　　· 欣旺达：业绩高增5倍，与产业链深度绑定

　　欣旺达第三季度实现营业收入148.66亿元，同比上涨50.14%;归母净利润3.16亿元，同比大涨504.79%。业绩背后，是欣旺达今年以来积极与产业链企业联合，有序扩产。

　　欣旺达已联合吉利集团等共同投资设立山东吉利欣旺达，提供电池包产品服务;与东风集团、东风鸿泰已订立合作协议，共同研发及生产汽车动力及储能电池用电芯、组件及相关零部件;还引入江苏车和家(理想汽车关联公司)、SkyTopLLC(小鹏汽车关联公司)、蔚瑞(蔚来汽车关联公司)等企业增资，和产业链企业深度绑定。

　　产能方面，欣旺达已在惠州、南昌、南京、枣庄、什邡、珠海、宜昌、义乌等地规划建设了多个电池生产基地，规划产能已超220GWh。

　　作为今年以来动力电池业务增长最快的企业之一，欣旺达也不断拓展***，已与日产、东风柳汽、东风乘用车、广汽乘用车、吉利、上汽通用五菱等主机厂形成合作。随着配套车型的投放，其装机量增长前景可观。储能方面，其在便携式、家储和电力储能领域积极布局，已与头部企业展开合作，今年开始产品陆续交付，明年有望快速增长。

　　· 孚能科技：订单较上年同期大幅增长

　　报告显示，孚能科技第三季度营收34.08亿元，同比增长213.23%;净利润1.18亿元，同比增长38.86%。孚能科技表示，其订单较上年同期大量增加，新建产能逐步爬坡完成，产销量较上年同期实现大幅增长，加之产品售价提升，使其营业收入实现大幅增长。实际上，孚能科技今年以来营收增势明显，前三季度营收达86.30亿元，同比增长超3倍。

　　上下游产业链合作方面，孚能科技不断加码。近期，其与振华新材战略合作，深入三元正极材料、钠电正极、废料及废旧电池回收、锂资源开发等领域;还与昆明市和国电电力云南新能源携手合作，涉及锂资源、产业孵化、换电回收、风能发电、太阳能发电、新型储能、虚拟电厂及新能源汽车服务等领域。

　　孚能科技此前规划未来几年其电池总产能将超过120GWh。目前，动力领域，孚能科技已形成对自主品牌和新势力、欧美和日韩车企的市场全覆盖，并满足高性能纯电、高端纯电、高性价比纯电和混动等细分需求。储能领域，拓展央企客户切入西南三省的清洁能源配套储能市场，未来业绩增长第二曲线确立。

　　在全球经济形势下行，疫情、地缘冲突、原材料价格上涨等因素影响下，国内头部动力电池企业纷纷采取措施积极应对，一方面加大上游材料稳定供应力度，加强供应链管理;另一方面应主机厂和储能市场需求扩大生产，释放产能，并进行全球化客户拓展。随着产业链企业间合作的不断推进，未来料将形成更加高效的产业链供给循环。

Exclusive Distributor
Recently, A-share listed companies have successively disclosed their third quarterly reports or performance forecasts, and most domestic power battery companies have performed well in Q3.
Q3 The performance of domestic power battery enterprises increased by a maximum of 5 times
Since this year, the high growth in the production and sales of electric vehicles has directly driven the prosperity of the power battery industry. Against this background, the top battery enterprises with leading advantages in production capacity, supply chain, customers and other aspects, despite the impact of adverse factors such as the rise of upstream raw materials and epidemic situation, most of them still ushered in performance growth.
Q3 The performance of domestic power battery enterprises increased by a maximum of 5 times
The data shows that the revenue of some leading power battery enterprises in the third quarter increased significantly year on year, with the highest year-on-year growth of net profit exceeding 500%.
·Ningde Times: owning/planning 13 major bases, with sufficient capacity release
In the third quarter of this year, Ningde Times achieved an operating income of 97.369 billion yuan, up 232.47% year on year; The net profit was 9.424 billion yuan, a year-on-year increase of 188.42%, which exceeded the market expectation.
As for the performance growth, Ningde Times said that thanks to the continuous introduction of industry-leading product solutions, strengthening market development efforts, and the release of early layout capacity, the production and sales of products have significantly improved, driving its global market position to continue to lead, and achieving rapid growth in profit scale.
Data shows that the battery capacity of Ningde Times reached 154.25GWh in the first half of this year, the capacity utilization rate was 81.25%, and the capacity under construction was 100.46GWh. In the second half of the year, they also announced that they would invest heavily in new battery capacity in Luoyang, Henan, Hungary and other places. At present, it owns or plans a total of 13 wholly owned battery production bases, including 11 domestic bases and 2 overseas bases in Germany and Hungary.
Faced with the soaring of lithium salt and other raw materials in the past two years, Zeng Yuqun, chairman of Ningde Times, said recently that, "It will hurt the entire industrial chain. We need to correctly understand and grasp the strategic significance of the supply guarantee of lithium battery primary products, accelerate the development and utilization of domestic lithium resources, significantly improve the ability of upstream mineral resources to ensure supply and stable price, and promote the improvement of battery recycling system to reduce costs, promote the popularity of electrification and healthy and orderly development of the industry."
For this reason, in terms of supply chain guarantee, in 2022, Ningde Times Jiangxi Lithium Carbonate Base will be launched, and overseas key resources such as Indonesia Nickel Project will also continue to be promoted... It will give full play to the advantages of self supply of resources such as convenience and cost.
In terms of customers, Ningde Times' core customers in the domestic market include Tesla, Weilai, Xiaopeng, Volkswagen, Geely, Ideal, Dongfeng, Great Wall, Brilliance BMW and other companies, while its core customers in overseas markets include Volkswagen, Mercedes Benz, BMW, PSA, Renault Nissan, etc.
·Yiwei Lithium Energy: Increase upstream and adjust pricing mechanism
Yiwei Lithium Energy achieved a revenue of 9.357 billion yuan in the third quarter, up 91.43% year on year, and a net profit of 1.306 billion yuan, up 81.18% year on year. "Strengthened supply chain management and actively carried out upstream supply chain layout." It is one of the reasons for the great increase of Yiwei Lithium Energy's performance.
It continued to promote in-depth strategic cooperation with upstream companies, and achieved strategic coordination by establishing joint ventures with upstream companies. On the one hand, it ensured stable supply of raw materials, and on the other hand, it reduced raw material procurement costs. At the same time, supply chain management has played an important role.
Since 2021, Yiwei Lithium Energy has a wide distribution of lithium resources. It has acquired the equity of Dahua Chemical, Jinkunlun Lithium, established a joint venture company, Jinhai Lithium, established a lithium joint venture with Honeycomb Energy and Chuanneng Power, and built a lithium joint venture with Zijin Lithium, etc. In addition, a nickel cobalt production capacity project was jointly built with Huayou Cobalt.
Yiwei Lithium Energy has also jointly built a cathode capacity project with Betray, SK and German Nano; Joint construction of cathode capacity project with Zhongke Xingcheng; Joint construction of diaphragm capacity project with Enjie; Joint construction of electrolyte capacity project with New Zebang
In addition to increasing its upstream capacity, Yiwei Lithium also adjusted its product pricing mechanism in good time, and the profitability of each product line was better repaired; And as the new production line entered the mass production stage, the shipment scale grew rapidly, which led to a significant growth in the income and profit of its main battery business.
In terms of capacity, from January to June this year, Yiwei Lithium Energy has successively arranged power and energy storage battery projects in Jingmen, Chengdu, Yuxi, Qujing, Yunnan, Hungary and other places in China, with the existing and planned capacity exceeding 260GWh.
At present, the 46 series ternary large cylinder battery has become one of the leading lithium power battery products of Yiwei. Its products have won the cooperation fixed-point of BMW and Universiade. In the field of power battery, its main customers cover Xiaopeng, GAC, Dongfeng, Hyundai Kia, Daimler, BMW, Jaguar Land Rover and other well-known host manufacturers at home and abroad.
In addition, recently, Yiwei Lithium Energy released its energy storage battery LF560K, which has a super capacity of 560Ah, and adopts the innovative technology of battery cells oriented to TWh level energy storage scale. At present, it has cooperated with major domestic telecom operators, leading communication facilities and multi local power grid companies in the fields of communication energy storage, and has accumulated a number of brand customers in the fields of household energy storage and industrial and commercial energy storage.
·Guoxuan High Tech: "Invisible Material Giant" saw its net profit increase more than 3 times in the third quarter
In the third quarter, Guoxuan Hi Tech achieved an operating income of 5.788 billion yuan, up 166.33% year on year; The net profit was 85.56 million yuan, a year-on-year increase of 355.20%.
As for the growth of performance, Guoxuan High Tech said that it was mainly due to the continuous optimization of the customer structure, and it accelerated the layout of the energy storage market while expanding the customers of electric vehicles; The company's global layout has been continuously improved, and the release of production capacity has accelerated.
The high increase in production and sales cannot be separated from a stable supply chain. Guoxuan attaches great importance to the layout of lithium battery raw materials. At present, five major material bases have been initially formed, which are located in Lujiang, Anhui, Feidong, Jiangxi, Yichun, Inner Mongolia, Wuhai and Argentina. Guoxuan is known as the "invisible material giant" in the field of power batteries.
According to the planning of Guoxuan High Tech, its battery capacity will exceed 100GWh in 2022 and will exceed 300GWh in 2025.
In terms of customers, in the field of power, Guoxuan High Tech has formed long-term cooperation with dozens of OEMs, such as Geely, Chang'an, Great Wall, Chery, Zero Running, Weima, SAIC GM Wuling, India Tata, etc. At present, Guoxuan High Tech is trying its best to expand new forces in car manufacturing and international high-end customers, cultivate new market growth points, and accelerate its internationalization process. The field of energy storage has also continued to make efforts. Guoxuan High Tech has signed a Strategic Cooperation Agreement with Sumida, and the total cooperative energy storage projects are expected to reach 10GWh in the next three years; It is estimated that the total procurement amount of the other party will not exceed 600MWh when winning the bid for Xinyuan Intelligent Storage Battery related projects.
·Xinwangda: Its performance has increased by 5 times and is deeply bound with the industrial chain
Xinwangda achieved an operating income of 14.866 billion yuan in the third quarter, up 50.14% year on year; The net profit attributable to the parent company was 316 million yuan, up 504.79% year on year. Behind the performance, Xinwangda has actively cooperated with industrial chain enterprises to expand production in an orderly manner since this year.
Xinwangda has jointly invested with Geely Group to establish Shandong Geely Xinwangda to provide battery pack products and services; A cooperation agreement has been signed with Dongfeng Group and Dongfeng Hongtai to jointly develop and produce battery cells, components and related parts for automotive power and energy storage batteries; It also introduced Jiangsu Chehejia (an ideal automobile related company), SkyTop LLC (an associated company of Xiaopeng Automobile), Weirui (an associated company of Weilai Automobile) and other enterprises to increase capital, and deeply bound with enterprises in the industrial chain.
In terms of capacity, Xinwangda has planned and built several battery production bases in Huizhou, Nanchang, Nanjing, Zaozhuang, Shifang, Zhuhai, Yichang, Yiwu and other places, with the planned capacity exceeding 220GWh.
As one of the enterprises with the fastest growth in power battery business this year, Xinwangda has also continued to expand * * *, and has formed cooperation with Nissan, Dongfeng Liuqi, Dongfeng Passenger Cars, GAC Passenger Cars, Geely, SAIC GM Wuling and other OEMs. With the launch of supporting models, its installed capacity has a promising growth prospect. In terms of energy storage, it has actively laid out in the fields of portable, home storage and electric energy storage, and has cooperated with leading enterprises. Products have been delivered this year, and are expected to grow rapidly next year.
·Funeng Technology: orders increased significantly compared with the same period last year
The report shows that Funeng Technology's revenue in the third quarter was 3.408 billion yuan, a year-on-year increase of 213.23%; The net profit was 118 million yuan, up 38.86% year on year. Funeng Technology said that its orders increased significantly compared with the same period of last year, its new production capacity was gradually completed, its production and sales volume increased significantly compared with the same period of last year, and its sales price increased, which led to a significant increase in its operating revenue. In fact, the revenue of Funeng Technology has increased significantly since this year, reaching 8.63 billion yuan in the first three quarters, a year-on-year increase of more than three times.
In terms of upstream and downstream industrial chain cooperation, Funeng Technology has been increasing. Recently, it has made strategic cooperation with Zhenhua New Materials to deepen the field of ternary cathode materials, sodium cathode, waste and waste battery recycling, lithium resource development, etc; It also cooperates with Kunming City and Guodian Yunnan New Energy, involving lithium resources, industry incubation, power exchange and recovery, wind power generation, solar power generation, new energy storage, virtual power plants and new energy vehicle services.
Funeng Technology previously planned that its total battery capacity would exceed 120GWh in the next few years. At present, in the field of power, Funeng Technology has formed a full coverage of the market of its own brands and new forces, European, American, Japanese and Korean car enterprises, and meets the subdivided needs of high-performance pure electricity, high-end pure electricity, high-performance price ratio pure electricity and hybrid. In the field of energy storage, expand the central enterprise customers to enter the clean energy supporting energy storage market in the three provinces of southwest China, and establish the second curve of future performance growth.
Under the influence of the global economic downturn, epidemic situation, geographical conflict, rising raw material prices and other factors, the leading domestic power battery enterprises have taken active measures to respond. On the one hand, they have increased the stable supply of upstream materials and strengthened supply chain management; On the other hand, we should expand production, release production capacity and expand global customers in response to the demand of main engine manufacturers and energy storage markets. With the continuous promotion of cooperation between enterprises in the industrial chain, a more efficient supply cycle of the industrial chain is expected to be formed in the future.