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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  Contemporary Amperex Technology Co Ltd    300750   CNE100003662

CONTEMPORARY AMPEREX TECHNOLOGY CO LTD

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Contemporary Amperex Technology : China's CATL, Ant Financial and Hellobike set up e-bike battery firm

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06/12/2019 | 05:29am EDT
Logo of Ant Financial Services Group is seen next to a logo of Alipay at the Digital China exhibition in Fuzhou, Fujian

SHANGHAI (Reuters) - China's Contemporary Amperex Technology Co Ltd (CATL), Ant Financial Services and Hellobike said on Wednesday they will invest 1 billion yuan ($144.60 million) to establish a electric bicycle battery joint venture.

The battery maker, fintech firm and Alibaba-backed bike-sharing start-up announced the cooperation in a joint statement, which did not disclose the individual shares of the partners in the joint venture.

Hellobike's existing electric bike service already swaps out 500,000 rechargeable batteries for more than 2 million users a day, they said, adding China now has over 250 million e-bikes.

The joint venture plans to set up a network of storage units that will allow riders to pick up charged batteries on the go.

"We have defined the battery-swapping service as a long-term, basic energy source for society, just like gas stations," said Hellobike's Chief Executive Yang Lei.

Hellobike, which is China's No.3 bike-sharing player and counts Alibaba affiliate Ant Financial as a shareholder, is among a number of startups focused on providing mobility services while CATL is China's top battery maker.

(Reporting by Shanghai Newsroom and Brenda Goh; Editing by Himani Sarkar)

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING -1.39% 158.1 Delayed Quote.15.34%
CONTEMPORARY AMPEREX TECHNOLOGY CO LTD End-of-day quote.
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Financials (CNY)
Sales 2019 41 866 M
EBIT 2019 5 486 M
Net income 2019 4 483 M
Finance 2019 17 661 M
Yield 2019 0,30%
P/E ratio 2019 32,20
P/E ratio 2020 27,17
EV / Sales 2019 3,09x
EV / Sales 2020 2,37x
Capitalization 147 B
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 79,6  CNY
Spread / Average Target 19%
EPS Revisions
Managers
NameTitle
Jia Zhou General Manager & Director
Ying Ming Wu Chairman-Supervisory Board
Yu Qun Zeng Chairman
Shu Zheng Chief Financial Officer
Ping Li Vice Chairman
Sector and Competitors
1st jan.Capitalization (M$)
CONTEMPORARY AMPEREX TECHNOLOGY CO LTD22 069
ENERGIZER HOLDINGS INC-6.78%2 927
SUNWODA ELECTRONIC CO LTD--.--%2 548
ENERSYS-20.07%2 472
VARTA AG104.98%1 902
VOLTRONIC POWER TECHNOLOGY CORP--.--%1 501