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

CONTEMPORARY AMPEREX TECHNOLOGY CO LTD

(300750)
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Germany ready to back new electric car battery consortium

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09/06/2019 | 11:12am EST
Weekly German cabinet meeting

BERLIN (Reuters) - European states are discussing the creation of a second European battery cell production consortium, the German economy ministry said on Friday, as carmakers prepare to launch a raft of new electric cars at the Frankfurt Auto Show next week.

Europe's auto industry is promoting zero-emissions cars as a way to comply with clean air rules, a strategy shift which forces carmakers to retool their supply chains to build electric, rather than combustion-engined cars.

Germany's Economics ministry said it is making 1 billion euros in subsidies available to help enhance and preserve the automotive value chain in Germany and Europe.

"Germany and Europe need to develop and build competitive, innovative and environmentally sustainable battery cells," German economy minister Peter Altmaier said in a statement on Friday.

Germany is in talks with the European Commission and other European Union member states about finalising two "Important Projects of Common European Interest," and German companies are set to play a leading role in both projects, the ministry said.

A spokeswoman declined to give names of companies potentially taking part but added that German companies play important roles in both production consortia.

Among the German companies involved are BMW BASF Varta and BMZ, German daily Handelsblatt reported, citing sources.

Altmaier said in June he expected there would be eventually probably three battery cell groups.

On Friday, Volkswagen said it will invest 900 million euros in a joint venture with Sweden's Northvolt AB to build a battery plant with an annual capacity of 16 Gigawatt hours in Salzgitter, Germany.

Volkswagen will take a 20% stake in Northvolt and the German battery plant is due to commence production in 2020. Volkswagen Group alone has a demand of more than 150 Gigawatt hours from 2025 in Europe.

VW will launch almost 70 electric models in the next 10 years and expects to build around 22 million electric cars in the next decade as part of a 30 billion euros investment push by 2023.

The market for electric vehicle battery cells is currently dominated by Asian companies including Korea's Samsung SDI LG Chem, SK Innovation, China's CATL and Svolt, as well as Panasonic in Japan.

(Reporting by Thomas Seythal, Sabine Wollrab, Ludwig Burger; Editing by Edward Taylor and Keith Weir)

Stocks mentioned in the article
ChangeLast1st jan.
BASF SE 0.30% 67.55 Delayed Quote.11.51%
BMW AG 1.38% 74.21 Delayed Quote.3.54%
CONTEMPORARY AMPEREX TECHNOLOGY CO LTD End-of-day quote.
LG CHEM LTD End-of-day quote.
PANASONIC CORPORATION 0.33% 1061 End-of-day quote.10.52%
SAMSUNG SDI CO LTD End-of-day quote.
SK INNOVATION CO LTD End-of-day quote.
VARTA AG 0.18% 112.2 Delayed Quote.350.16%
VOLKSWAGEN AG 1.45% 178.24 Delayed Quote.26.48%
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Financials (CNY)
Sales 2019 42 046 M
EBIT 2019 5 285 M
Net income 2019 4 400 M
Finance 2019 25 615 M
Yield 2019 0,19%
P/E ratio 2019 45,1x
P/E ratio 2020 39,1x
EV / Sales2019 4,20x
EV / Sales2020 3,45x
Capitalization 202 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 26
Average target price 72,21  CNY
Last Close Price 91,49  CNY
Spread / Highest target 12,6%
Spread / Average Target -21,1%
Spread / Lowest Target -54,1%
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 LTD29 307
VARTA AG350.16%5 023
SUNWODA ELECTRONIC CO LTD--.--%4 109
ENERGIZER HOLDINGS, INC.11.98%3 498
ENERSYS-6.37%3 073
VOLTRONIC POWER TECHNOLOGY CORP--.--%1 927