Tramway news: Recently, a person in the supply chain pointed out that the domestic first-line battery factory has recently started to notify customers who have signed the agreed contract to renegotiate the price, and in principle, the quotation has been raised by about 20%.
Previously, these battery manufacturers insisted on not increasing the lithium battery contract price in 2022.
The supply chain also disclosed that due to the booming demand and the short-term catch-up of competitors, the manufacturers' quotations in 2022 are expected to rise in an all-round way.
According to the data calculated by the power battery alliance based on the open material price, the average cost of lithium iron phosphate battery in October this year was 0.62 yuan /wh, double that of June 2020. The current cost of ternary battery is 0.72 yuan /wh, an increase of about 35.8% over last June. Lithium iron phosphate battery and ternary battery are the mainstream lithium battery varieties at present.
It is reported that, on the one hand, the price increase is due to the sharp rise in the cost side price, and on the other hand, the downstream demand continues to improve.
In addition, the price of lithium continued to rise. As of November 25, the quotation of SMM battery grade lithium carbonate exceeded 200000 yuan / ton for three consecutive days, up 359.8% from 43500 yuan / ton in the same period last year, and up 277.4% year to date. It marks the official opening of the third round of lithium price increase. It is expected that the lithium price will rise to 230000-250000 / ton around the Spring Festival.
According to the data, China's power battery output in October was 25.1gwh, a year-on-year increase of 155%, continuing to maintain a high prosperity, while the increase in demand also led to a further rise in lithium carbonate.
The price rise of upstream raw materials is transmitted to battery manufacturers.
According to the preliminary calculation of relevant industry organizations, the theoretical cost of battery cells and battery systems has increased by more than 30%. Considering the cost hedging of long-term orders and supply agreements, the cost pressure transmitted to battery enterprises is about 20%, which means that even if the battery price increases by 20%, many battery enterprises are difficult to make money.
At present, the cost pressure caused by the rise of raw materials is basically blocked at the battery production end, which is carried by battery enterprises, resulting in the decline of enterprise profit margin. Increasing income without increasing profits has become a common phenomenon.
According to the data of Ningde times, the gross profit margin of the power battery system in the first half of this year was 23%, down 3.56 percentage points from 26.56% last year. However, in the third quarter, the gross profit margin of Ningde times was 27.9%, up 0.1 percentage points year-on-year and 0.66 percentage points month on month. This slight recovery is due to the increased investment in upstream enterprises and the layout of lithium resources by Ningde times.
The gross profit margin of Yiwei lithium energy in the third quarter of 2021 was 23.70%, a year-on-year decrease of 6.02 percentage points, or 20.26%. The main reasons for the decline of gross profit margin include: on the one hand, the cost of raw materials in the upstream increases; On the other hand, the proportion of low gross margin power battery business increased. As the gross profit decreases, the core profit margin also decreases. In the third quarter of 2021, the core profit margin was 10.16%, a year-on-year decrease of 0.64 percentage points, or 5.90%.
The gross profit margin of GuoXuan high tech increased from 25.4% to 18.3% in the same period last year; The gross profit margin in the third quarter was 15.71%, down 1.27% month on month.
Funeng technology's operating income increased in the third quarter, but its loss scale further expanded. At the same time, the gross profit margin of the company's sales from January to September was about 0.54%, and the gross profit margin of single quarter sales in the third quarter was -3.28%. According to the company's early disclosure information, since 2020, the company's gross profit margin has continued to decline.