In the early morning of May 5, Ningde times (300750. SZ) released the record of investor relations activities, and investors exchanged with the company on the net profit, gross profit margin and product price of Ningde times in the first quarter of 2022. The reporter of the daily economic news noted that on May 5, Ningde times opened at 365 yuan / share, down about 10.8% from the closing price of 409.35 yuan / share the previous trading day. Subsequently, the share price rebounded and closed at 384.95 yuan / share as of the noon closing on May 5.
Looking to the future, Founder Securities believes in its research report released on May 4 that the price transmission of car enterprises is basically completed, and the gross profit of Ningde era will return to a higher level in the second quarter.
According to wind data, the record of investor relations activities of Ningde times was released at 1:02 a.m. on May 5.
Image source: screenshot of wind database
Compared with the 650 investors in the investor conference call on April 29, the number of investors in the conference call on May 4 was 120. Meanwhile, compared with the teleconference on April 29, the name of chairman Zeng Yuqun did not appear in the receptionist of the listed company, but Jiang Li, secretary and deputy general manager of Ningde times, and Lin Meina, director of the office of the board of directors, served as the receptionist.
The first concern of investors is that the net profit in the first quarter of 2022 decreased more than that in the fourth quarter of last year, and asked what the long-term reasonable profit level of Ningde era should be.
Ningde Times said: "the price rise of lithium carbonate and other raw materials exceeded expectations, and the client price transmission was relatively cautious. Superimposed on the month on month decline of sales in the first quarter due to seasonal factors, it can explain the main reasons for the change of parent net profit. The company's positioning is not only to make manufacturing, but also focus on three strategic directions and four innovations, so as to obtain reasonable profit returns as an innovative technology enterprise."
Next, the product price strategy of Ningde era is another focus of investors. Some investors asked "what is the price mechanism implemented with customers in the second quarter?" "When does the specific time point of price adjustment start?"
"The situation of each customer is not exactly the same. The price rise is dynamically adjusted and has been implemented in succession, and the recovery of gross profit margin is also a continuous process. The company's operation is considered from the long-term dimension, not only considering the situation of a single quarter, but focusing on improving the company's core competitiveness." Ningde Times said, "we have a certain process of friendly price negotiation with customers. There are differences in different customer situations and application scenarios, so it is not easy to generalize. Generally speaking, the price adjustment through negotiation with customers has been basically completed and will be implemented gradually in the second quarter."
Ningde Times said: "based on the current supply chain and upstream situation, customers understand our price increase this time, because the situation of each customer is different, and it is impossible to tell the specific price increase proportion. On the whole, the profitability of the company will be reasonably repaired, and the specific results depend on the landing situation."
In addition, in view of the "impact of price increase on the orders of automobile enterprises", Ningde Times said: "there are differences in different application scenarios. Under the background of the sharp rise in oil prices, the scenarios of C-end consumption and the need to consider oil and electricity balance have a relatively high acceptance of the price increase of new energy vehicles, but they have a relatively large economic impact on some scenarios such as operation and energy storage."
On December 3, 2021, the share price of Ningde times showed a downward trend after reaching a high of 692 yuan / share. As of the morning of May 5, 2022, the higher point decreased by more than 40%, and the lowest share price on that day fell to 353 yuan / share.
Image source: screenshot of wind database
According to wind data, at the end of the first quarter of this year, compared with the end of last year, the number of shares held by Huang Shilin, Hong Kong Central Clearing Co., Ltd., hhlr Management Co., Ltd. - China Value Fund (exchange) and Tibet Hongshang Capital Investment Co., Ltd. was "lower than that in the previous period".
Source: screenshot of the official website of Shenzhen Stock Exchange
According to the stock change query of Dong Jiangao and relevant personnel on the official website of Shenzhen Stock Exchange, since this year, Huang Shilin has changed his shares four times through block trading, and the average transaction price is between 538.4 yuan / share and 577.4 yuan / share.
Looking forward to the future, Founder Securities said in its Research Report on May 4: "as for the price transmission mechanism, the price transmission may be one month or more than one quarter. It is only a matter of the company's implementation strategy. The company's price transmission is relatively slow. The main consideration is the affordability of downstream enterprises, which does not represent the weakening of the company's competitiveness."
Everbright Securities believes in its Research Report: "With the increasing market share of Ningde era in the world, on the other hand, although the layout of the whole industrial chain of the company controls the cost fluctuation, the decline of Q1 profit margin also reflects that the whole battery industry is affected by the rise in the price of raw materials. Downstream vehicle enterprises show the necessity of price transmission and ensure the reasonable profits of all links of the industrial chain. We think it is conducive to maintaining the enthusiasm of industry expansion and healthy development. ”