Lead Intelligent Wins CNY 3 Bn Lithium Battery Bid Order from CATL

Industrials Author: Fuller Wang Nov 12, 2020 01:39 AM (GMT+8)

The CNY 3.23 billion deal has driven the new energy equipment maker's Shenzhen stock price to the historical high of CNY 70.87.

Image credit: Hellorf.com

According to the latest announcement of Lead Intelligent Equipment on November 10, 2020, its wholly-owned subsidiary, Zhuhai Titans New Power Electronics (Chinese: 珠海泰坦新动力电子有限公司), won a lithium battery production equipment bid order of CNY 3.23 billion from CATL. The bid helps the business development of the company and its subsidiaries in the field of new energy battery, and help improve the company's profitability in the future.

Stimulated by the bullish news, Lead Intelligent Equipment stocks (300450:SH) reached the historical-high price of CNY 70.87. Its shares rose by 2.13% to close at CNY 68.17 on the whole day and gained market capitalization over CNY 60 billion. In Q3 2020, Lead Intelligent Equipment reported its largest-ever quarterly revenue of CNY 2.29 billion with a net profit attributed to parent company owner of CNY 411 million. All of these indicate the stock still has great potential.

Lead Intelligent Equipment is the upstream manufacturer of CATL, and mainly providing high-end intelligent equipment and overall solutions for manufacturers of new energy products including lithium batteries and photovoltaic cells. In August 2020, CATL announced it planned to invest CNY 19 billion to upstream and downstream companies, and Lead Intelligent Equipment became the first one who received the investment.