On the evening of June 27, Ningde Times announced that the company plans to use no more than 23 billion yuan to issue stocks to specific objects to raise funds for cash management, and invest in capital-guaranteed investment products with high security and good liquidity. The period of use will be reviewed by the board of directors. Valid for 12 months from the date of adoption.As of the press release on June 28, Ningde Times reported 532.91 yuan per share, down 2.93%, with a total market value of 1.2 trillion yuan.
On the evening of June 27, Ningde Times announced that the company plans to use no more than 23 billion yuan to issue stocks to specific objects to raise funds for cash management, and invest in capital-guaranteed investment products with high security and good liquidity. The period of use will be reviewed by the board of directors. Valid for 12 months from the date of adoption.As of the press release on June 28, Ningde Times reported 532.91 yuan per share, down 2.93%, with a total market value of 1.2 trillion yuan.
Previously completed a huge increase
Ningde Times stated that, under the condition of ensuring the construction of investment projects with raised funds and the normal operation of the company, the company uses part of the temporarily idle raised funds to invest in capital-guaranteed investment products with high security and good liquidity, which will not affect the investment projects of the company's raised funds. Capital needs, at the same time, it is conducive to improving the use efficiency of the raised funds and obtaining a certain investment income, which is in the interests of the company and all shareholders.
From the point of view of the source of funds, the financing of the Ningde era came from the 45 billion fixed increase just completed.According to the disclosure, on June 21, the sponsor, China Securities Investment Securities, has transferred 44.865 billion yuan of raised funds after deducting sponsor fees and underwriting fees to the company's designated account.This means that more than half of the capital raised by the CATL is used for cash management.
CATL raised nearly 45 billion yuan this time for production expansion and R&D projects.Among them, 15.2 billion yuan was invested in the Fuding Times lithium-ion battery production base project; 11.7 billion yuan was invested in the first phase of the Guangdong Ruiqing Times lithium-ion battery production project; 6.5 billion yuan was invested in the Jiangsu Times power and energy storage lithium-ion battery R&D and production project ( Phase IV); 4.6 billion yuan was invested in the Ningde Jiaocheng Times Lithium-ion Power Battery Production Base Project (Cheliwan Project); 6.87 billion yuan was invested in the Ningde Times New Energy Advanced Technology R&D and Application Project.
It is worth mentioning that the Ningde era also invested heavily in financial management before throwing out a huge increase in August last year.On July 20, 2021, the company's board of directors passed a resolution to use no more than 5.5 billion yuan of idle raised funds for cash management.
Increase in revenue but not profit in the first quarter
The first quarter report shows that in the first quarter of 2022, CATL achieved an operating income of 48.68 billion yuan, a year-on-year increase of 153.97%, and a net profit attributable to the parent of 1.493 billion yuan, a year-on-year decrease of 23.62%.During the reporting period, the company's gross profit margin was 14.48%, which was nearly halved from 27% in the same period of the previous year and dropped to the lowest level in recent years.
The decline in profitability lies in the pressure on the cost side.In the first quarter, the operating cost of CATL was 41.628 billion yuan, a year-on-year increase of 198.66%.In this regard, the company gave two main reasons, one is the corresponding increase in the cost of sales, and the other is the increase in costs caused by the rapid rise in the price of some upstream materials.
According to the monitoring data of the business agency, on June 23, the average price of battery-grade lithium carbonate in East China was 478,000 yuan / ton, an increase of 0.63% compared with the average price at the beginning of the week.By observing market changes, the price of lithium carbonate is still rising this week.At present, the production performance of upstream manufacturers is stable, and the market is more active in inquiries for lithium carbonate, but there are few single-order transactions, and the purchase is mainly based on just-needed purchases.With the optimistic attitude of the market recovery after the epidemic, the price of lithium carbonate market is serious.
The lithium carbonate analyst of the business agency believes that due to the continuous high price of lithium carbonate, the downstream market is not willing to receive goods, and the overall market has a strong game sentiment.
In the face of cost pressure, Ningde Times said that in general, the negotiated price adjustment with customers has been basically completed, and will be gradually implemented in the second quarter, and the gross profit rate will be gradually and reasonably repaired, but the specific results will depend on the implementation.
