Battery System
Contact Us
Lithium battery industry growth slowdown energy storage business into the “second growth point”
2023-10-07
Recently, the lithium battery company 2023 annual report and performance show that the growth of a number of enterprises last year significantly slowed down, under the pressure of growth, a number of lithium battery companies are looking for new growth points, of which energy storage business more and more attention.
Lithium enterprises generally show a slowdown in performance
Recently, the Ministry of Industry and Information Technology announced that in the first two months of this year, lithium battery production increased by 15% year-on-year, and the industry continued to grow. It is worth noting that this growth data has slowed significantly, and the total output of lithium batteries in the country in January-February 2023 increased by 24% year-on-year. Lithium enterprises in the industry are also generally showing a slowdown in performance. April 15, Ningde Times announced the latest results. The report showed that net profit in the first quarter rose 7% year on year, but revenue fell for two consecutive quarters. The company's 2023 revenue growth of 22.01% year on year, far less than the 152.07% in 2022 and 159.06% in 2021. Performance "increase profit does not increase income" and Xinwang Da. In 2023, Xinwang Da's net profit increased slightly by 0.77% compared with the same period last year, but its revenue decreased by 8.24% compared with the same period last year. Compared with these two companies, some lithium battery companies are obviously facing more serious performance pressure, and Funeng Technology and Rupu Lanjun will achieve a net loss in 2023.
However, for the development of lithium battery companies this year, the industry is currently cautiously optimistic. Institutional analysis pointed out that throughout 2023, the lithium battery industry chain is in the destocking cycle, and the recent lithium battery production guidance is strong. Everbright Securities said that in the short term, the terminal price war of car enterprises is passing the stage of consumers to wait and see, and turn to promote sales growth, and the profit of leading car enterprises is expected to bottom out, and then drive the repair of the lithium battery industry chain.
Energy storage business is growing rapidly, becoming the "second growth point"
Energy storage batteries have always been the focus of the business layout of lithium battery manufacturers outside the power battery, and in the case of a slowdown in the growth of the power battery business, it has become a new growth point for each factory. According to the annual report of Ningde Times, in 2023, the energy storage battery system business of Ningde Times increased by 33.17% year-on-year, which is the highest revenue category of products except power battery system products. Xinwang Da annual report data show that the energy storage system business achieved 144% growth. Last year, the net profit of Guoxuan Gaoke increased significantly, and the reasons given in the performance report were clearly proposed to further improve the delivery capacity of the energy storage business.
However, the energy storage business still faces difficulties. At the Tianheng energy storage system conference, Yu Dongxu, director of Ningde Era energy storage Technology Center, said that the current energy storage technology has problems such as safety discount, energy efficiency reduction, high energy consumption of auxiliary systems, and lack of complete standards and specifications. However, the industry generally believes that the energy storage business has greater development prospects in the future, which is expected to promote further growth of the industry.
Source: Guangzhou Daily
Related News
Gathering Wisdom at the Canton Fair: Building Dreams with Lithium Batteries | Frey Concludes Successful Participation in the 139th Canton Fair
The 139th China Import and Export Fair (Canton Fair) concluded successfully in Guangzhou on 19 April. As a supplier of industrial lithium-ion batteries with 15 years of industry experience and a national ‘Specialised, Refined, Unique and Innovative’ (SRUI) ‘Little Giant’...
Close Collaboration Between Industry, Academia and Research | Staff and Students from China University of Mining and Technology Visit Frey for an Exchange
On 24 March 2026, a delegation of staff and students from China University of Mining and Technology visited our company for a site visit and technical exchange. As a research base established through collaboration between ind...
Frey’s three main series of smart charging stations are strategically positioned
From product portfolio planning, the underlying logic of core technologies and rigorous certification systems, to scientific selection and full lifecycle value, this article provides an in-depth analysis of how Frey utilises its proprietary smart charging technology to d...
