The valuation changes of lithium battery industry and its sub-sectors in the past five years (negative value has been excluded). It can be seen that since the explosive development of new energy vehicles in 2015, which led to the rapid growth of lithium battery industry, the lithium battery industry as a whole has experienced two years of slow callbacks in 2016 and 2017, and the current valuation has basically returned to the level of 2013-2014.
As for sub-industry, since 2017, all sub-industries except the upstream resource sector have maintained a high historical valuation. Among them, the elasticity of core and PACK sector is the largest, and the valuation has fallen to a historical low by the end of December, considering that the lithium battery related businesses of the enterprises in the core and PACK sector account for the proportion. Relatively large, and industry directly related to high degree.
In recent years, the lithium battery industry and its fine molecular industry have been increasing in revenue, profit growth and gross profit margin. Income growth of the industry as a whole showed a continuous upward trend, with a growth rate of 38.55% in the third quarter of 2017; net profit growth fluctuated, but remained at about 50% overall, higher than income growth; gross profit rate of the industry as a whole rose slightly in the third quarter of 2017 compared with previous years, exceeding 20% for the first time in five years.
In the sub-industry, the equipment sector, upstream material sector and the industry as a whole have basically maintained the same income growth trend, while the upstream resources and the core sector have opposite income growth and net profit growth trends. This is because after the explosive growth of the new energy automobile industry since 2015, upstream resources such as lithium and cobalt, etc. It is obvious that there is a shortage of supply and demand, which is also reflected in the upstream resource price boom. The performance of related companies and stock prices have risen simultaneously.
Through a simple analysis of the current market situation of lithium battery industry, we know that with the increase of global demand for new energy vehicles, the proportion of consumer lithium battery applications is declining year by year. According to the forecast, the proportion of power lithium batteries in all applications of lithium batteries in China is expected to rise from 34% in 2015 to 70% in 2020. Power batteries will become the main application scenario of lithium batteries. In addition, as a new application scenario, energy storage lithium batteries have been gradually taken seriously, and the market share is expected to rise slightly from 6% in 2015 to 8% in 2020. Well, the above is the simple analysis of the lithium battery industry market situation.