at present, under the promotion of the ministry of commerce, the ministry of industry and information technology, the national development and reform commission, the activities of new energy vehicles to the countryside are being carried out nationwide. at the same time, in order to clear inventory, some car companies have also significantly reduced the price of their models, promoting the gradual recovery of the new energy vehicle industry. china automobile association data show that in may, china's new energy vehicle production and sales were 713,000 and 717,000, respectively, an increase of 53% and 60%, and the market share of more than 30%. in the first may of this year, the sales volume of new energy vehicles has reached 2.94 million.
driven by the growth of sales of new energy vehicles, the installed scale of domestic power batteries has also continued to expand. data show that in may, china's power battery load 28.2gwh, an increase of 52.1%. among them, the loading capacity of ternary battery is 9gwh, accounting for 32%; lithium iron phosphate battery load 19.2gwh, accounting for 67.8%, an increase of 87.2%. in the first may of this year, the cumulative loading scale of china's power batteries has reached 119.2gwh, an increase of 43.5% year-on-year, and continues to maintain a sustained and rapid growth trend.
in addition to the recovery of new energy vehicles, the development of downstream applications such as energy storage has continued to improve, helping battery shipments show a rapid growth trend. according to liu yafang, deputy director of the energy conservation and science and technology equipment department of the national energy administration, by the end of 2022, the country has put into operation a new energy storage capacity of 8.7 million kilowatts, of which lithium battery energy storage accounted for 94.5%. according to the targets given in the "2023 energy work guidelines", the industry estimates that the scale of new energy storage installations will increase by more than 10 million kilowatts this year.
at the same time, the price of upstream raw materials lithium carbonate has returned to a reasonable range, leading to the reshaping of the profit pattern of the industrial chain, and providing sufficient impetus for the expansion of related battery companies. lithium battery industry investment in april after a brief cold, morale gradually recovered, the project landing enthusiasm is high. research institutions statistics, only in may this year, the entire lithium battery industry chain landed 39 projects, of which 30 announced the investment amount, the total investment reached 137.9 billion yuan, continuing the capacity expansion momentum opened at the beginning of this year.
billions of battery projects are frequent
through combing, it was found that among the 39 investment projects counted in may, the investment in battery projects reached 20. among the 20 battery investment projects included in the statistics, 14 of them announced the investment amount, with a total of 81.85 billion yuan. among them, six battery projects have an investment of more than 10 billion yuan, of which penghui energy storage project has the highest investment amount, reaching 13 billion yuan. followed by zhuhai guanyu 10.3 billion yuan, pulit 10.2 billion yuan and exxonnew energy, sodium energy and so on were 10 billion yuan.
specifically, on the evening of may 22, penghui energy announced that the company intends to invest in the construction of energy storage i project in chengyang district, qingdao, shandong province, and the project plans to build an annual output of 36gwh energy storage batteries to improve the company's energy storage industry capacity layout. the project is divided into three phases, of which the first phase of the project is planned to build the energy storage battery project with an annual output of 12gwh; the second phase of the project to build an annual output of 12gwh energy storage battery project; construction of the third phase of the annual output of 12gwh energy storage battery project, with a total investment of about 13 billion yuan.
penghui energy previously said on the investor interactive platform that in 2022, the company's energy storage battery business income has accounted for 54% of the total revenue, and the power battery business income accounted for only 16%, which is obvious that the annual production of 36gwh energy storage battery project will increase penghui energy's energy storage battery business. penghui energy said that the investment is in line with the company's strategic development plan, which is conducive to enhancing the influence and comprehensive competitiveness of the company's energy storage business, and meeting the needs of the company's future business development and market expansion.
on the same day, zhuhai guanyu also released an announcement on the investment of its subsidiaries in the construction of power battery production projects and the signing of project investment agreements. the announcement said that the company's holding subsidiary zhejiang guanyu battery co., ltd. intends to set up a project company in deyang city, sichuan province, to invest in the construction of power battery production projects, the total investment of the first phase does not exceed 10.3 billion yuan (the total investment of the final project is subject to the actual investment), and the source of funds is its own or self-raised funds. the project is divided into two phases with a construction period of 42 months.
zhuhai guanyu said that the company held the fourth meeting of the second board of directors of the company on may 22, 2023, and reviewed and passed the "motion on the investment of a subsidiary in the construction of a power battery production project", agreeing to invest in the construction of a power battery production project of the holding subsidiary zhejiang guanyu. zhejiang guanyu has signed an investment agreement with the management committee of deyang high-tech industrial development zone and deyang investment holding group co., ltd on the same day, and the investment target is the 25gwh power battery production project.
earlier, zhuhai jinwan district government, gree group, united port group and shenzhen exxonnew energy signed exxonnew energy (zhuhai) energy storage battery project investment agreement. this landing in zhuhai, shenzhen exxonnew energy technology co., ltd. plans to invest in the construction of 18gwh energy storage battery project. the project plans to invest 10 billion yuan, the main production of high safety, long life and high-performance energy storage batteries, gree group and golden bay area state-owned enterprises liangang company will participate in support of the project investment and construction.
also on may 22, the sodium energy sodium-ion battery project with a total investment of 10 billion yuan was signed in guangde. it is reported that the construction of the mass production base of 20gwh energy storage battery and 10gwh energy storage system is the largest sodium electricity project in china at present, and it is also the first mass production project after the polyanion technology route reflects its strong competitive advantage. after the project is fully reached, the annual output value will be 13 billion yuan. and can drive a series of upstream and downstream cooperation enterprises to achieve production capacity landing.
in addition, china anguo new announced on the 23rd that it plans to invest about 5 billion yuan in the construction of china anguo new new energy annual production of 10gwh energy storage battery project in the southern industrial park of khorgos; on the 10th, inergy and huadian anhui new energy and langxi county government jointly signed a cooperation agreement on the annual production of 10gwh sodium ion energy storage battery of inergy new energy; ganfeng lithium power signed an investment agreement with the xiangyang municipal people's government on the 12th, planning to invest 2.5 billion yuan in the construction of new energy lithium battery production and research and development projects in xiangyang city.
energy storage batteries are emerging
at present, with the gradual improvement of the energy storage policy system and the continuous optimization of the market environment, driven by multiple forces and a variety of demonstration results, new energy storage has entered the fast lane of development. at the same time, technological breakthroughs and economic improvements have created favorable conditions for the rapid development of new energy storage. from the perspective of construction content, energy storage battery investment projects continued to occupy a large proportion of battery project investment in may, up to 12, accounting for more than half of the proportion and investment amount, showing that investment in the energy storage field continues to be hot.
in the above mentioned six billion battery projects, in addition to the zhuhai guanyu deyang battery project, the main power battery, the remaining five battery projects are mainly energy storage batteries. industry analysts believe that this is related to the continued popularity of the domestic new energy storage market. research data show that by the end of 2022, china's cumulative installed capacity of new energy storage has exceeded 8.7gw, and the overall market size has reached 180 billion yuan, an increase of 240%, and it is expected that china's cumulative installed capacity of energy storage is expected to exceed 15gw in 2023.
from the policy level, in order to promote the high-quality development of the "14th five-year plan" new energy storage, the national development and reform commission and the national energy administration jointly issued the "14th five-year plan" new energy storage development implementation plan, proposed that by 2025 new energy storage from the initial stage of commercialization into the stage of large-scale development, with large-scale commercial application conditions. while striving to promote the diversified innovation of new energy storage technologies, we will promote the integrated development of new energy storage and all aspects of the power system, which will bring benefits to the development of new energy storage.
the central government took the lead, and local governments also responded actively. up to now, nearly 30 provinces in the country have issued 14 new energy storage planning or new energy distribution and storage documents, requiring new energy distribution and storage ratio of 10% to 20%, standby power duration of two hours to four hours, but also put forward long-term strategic goals. taking guangdong province as an example, guangdong proposed that by 2025, the operating income of the province's new energy storage industry would reach 600 billion yuan, with an average annual growth of more than 50%, and the operating income would reach 1 trillion yuan by 2027.
from the enterprise level, new energy storage has become the second pole of growth for power battery companies. according to the annual report released by the global power battery leader ningde times, in 2022, ningde times achieved lithium battery shipments of 289gwh, of which energy storage battery shipments were 47gwh, an increase of 181%. revenue reached 44.98 billion yuan, an increase of 230%, ranking first in the world for two consecutive years. this year, the energy storage business of ningde era continued to grow, and it was revealed that the orders obtained in june alone exceeded 40gwh.
in recent years, penghui energy has made all-out efforts to increase energy storage business and expand production. according to relevant statistics, the company's 2022 annual energy storage global market shipments ranked the top five, household energy storage shipments ranked the top two. in 2022, its energy storage business income, especially household storage business income, increased significantly year-on-year, and the proportion of total revenue also increased significantly to 54%. penghui energy said that in the next three to five years, the compound annual growth rate of more than 50%, more than 30 billion yuan revenue, to become the preferred battery supplier in the energy storage market.
in fact, there are not a few power battery manufacturers that focus on the layout of energy storage circuits like ningde times and penghui energy. in the first two months of this year, yi wei lithium energy successively invested in the expansion of energy storage battery capacity in jingmen, hubei province, qujing, yunnan province and other places, with a total investment of more than 36 billion yuan, and a total planned capacity of more than 120gwh. in addition, yang hongxin, chairman of hive energy, expects that the company's energy storage business will account for more than 1/3 of the future revenue, and the global share will reach 10% by 2025, entering the top five in the world.
and from a global perspective, countries are taking active policies to compete for the commanding heights of the new energy storage industry, which has brought broad space for development to the new energy storage industry. recently, including yiwei lithium energy, ruipu lanjun, haichen energy storage and other enterprises frequently obtain large overseas energy storage battery orders. the company has formally reached a framework procurement cooperation agreement with powin, an american battery energy storage system integrator and manufacturer. according to the agreement, haichen energy storage will deliver 3.5gwh advanced energy storage battery products.
also in june, yiwei lithium energy received more than 23gwh of energy storage battery orders in two days. on june 14, yiwei lithium energy announced that the company's subsidiary yiwei power signed a conditional battery product purchase agreement with powin, and the two sides agreed that yiwei power would produce and deliver 10gwh square lithium iron phosphate batteries to it according to the agreement. on june 15, yiwei lithium energy announced again that the company and abs signed a master purchase agreement, according to which the company is expected to deliver 13.8gwh square lithium iron phosphate batteries to abs.
in addition, rupu lanjun also won two international energy storage battery orders. on may 17, rupu lanjun and the united states energy storage technology developer energy vault signed a supply agreement for liquid cooled energy storage battery system, and the two sides reached a strategic partnership, and rupu lanjun will supply 10gwh liquid cooled energy storage battery system. on april 27, ruipu lanjun and powin signed a strategic cooperation agreement in portland, according to which ruipu lanjun will supply 3gwh advanced energy storage battery products within 12 months.
industry insiders believe that domestic energy storage battery companies accelerate the sea, in addition to avoiding the fierce competition in the domestic market, at the same time, the gross profit margin will be greatly improved, and the overall delivery situation is better than the domestic. data show that in 2022, the gross profit margin of overseas energy storage products is 34.5%, while it is 13.9% in china; in the same period, the gross profit margin of nandu power storage products overseas was 13.4%, and the domestic was only 3.4%. it is reported that huabao new energy, pi energy technology overseas revenue accounted for 94% and 96%, respectively.
investment and financing in the energy storage industry continue to be hot
in recent years, the overall investment and financing of the domestic i market has shown a continuous downward trend, but the investment and financing heat of the energy storage industry has risen. according to the analysis and statistics of research institutions, as of may 31, 2023, more than 300 enterprises in the domestic energy storage industry have obtained financing, involving 954 financing events, the financing amount of more than 190 billion yuan, and more than 1,120 participating institutions. since the beginning of this year, more than 60 domestic enterprises in the energy storage field have obtained financing. in may this year, the energy storage track ranked first with a total financing of about 2.84 billion yuan.
in may this year, xi 'an singularity energy co., ltd. announced the completion of 700 million yuan b round of financing, this round of financing led by jinshi investment, jin yi capital, hillhouse venture capital, guangfa xinde, yellow river industry, huajin capital, waneng capital, chaoxi capital, xinshang capital, keshi capital, west high investment and other investment. founded in 2018, singularity energy is committed to advanced energy storage system technology research and product development to provide solutions for promoting large-scale clean energy access and energy internet construction.
almost in the same period, china reserve national energy announced the completion of a round of financing, the financing amount of 1 billion yuan. the round of financing was led by cdb manufacturing transformation and upgrading fund and cinda kunpeng, with existing shareholders such as legend star, china science and technology creation star, cmb international, huacheng fund, pwc capital and xinding capital continuing to invest, and industrial investors and new shareholders such as zheneng fund, guangxi guangyi investment, ccb investment and guosheng fund participating. data show that china national energy storage is the world's leading compressed air energy storage system solution provider.
in addition, related energy storage enterprises have also obtained large amounts of credit from financial institutions. in march this year, haichen energy storage signed a strategic cooperation agreement with bank of communications xiamen branch, and xiamen bank of communications will provide a total of 10 billion yuan of intentional comprehensive financing support to haichen energy storage. previously, industrial bank xiamen branch signed a strategic cooperation agreement with haichen energy storage to provide 8 billion yuan of intentional comprehensive credit line support for haichen energy storage. preliminary statistics, this year, haichen energy storage has received a total of nearly 50 billion yuan from a number of banks.
liu weizeng, chairman of singularity energy, said that at the beginning, the investors felt that many products of the energy storage circuit manufacturers did not come out, the technical route and profit model have not been verified, so many are still wait-and-see attitude, and now with the application of more and more demonstration projects, the maturity of energy storage technology products continues to rise, and the income model is becoming clearer. project uncertainty is becoming smaller and smaller, so investment institutions pay more attention and participate more actively, which makes the investment and financing events in the field of energy storage surge.
it is worth noting that with the continuous involvement of capital, the valuation of related energy storage companies has also begun to soar. some investors said that some new energy storage startups, the first round of valuation is only 200 million yuan, may rise to 800 million yuan in the next round, this we have seen, the short-term valuation of energy storage projects has not yet declined signs. however, the next energy storage industry will come out of the differentiation situation, lack of self-hematopoietic ability, and enterprises that survive only by financing will face elimination in the next competition.
industry insiders believe that although the current head battery companies in energy storage technology reserves, capacity scale has an advantage, but in general, the current energy storage field has not yet formed a monopolistic competitive pattern, each link manufacturers seize a short window period, have the opportunity to run into the head camp. the domestic energy storage industry is entering a more imaginative era, thanks to the advantages of the industrial chain, china has achieved a first-mover advantage in this energy revolution. how to maintain this advantage in the future is worth thinking about by every industry chain enterprise.
source: power battery network
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