Is the domestic battery production capacity underestimated? JPMorgan: Potential additional capacity reaches 700GWh, it will take at least 3 years to digest.
jpmorgan believes that more than 700GWh of 'under construction fixed assets' will not be fully absorbed until the end of 2027, and this phenomenon is particularly evident among second-tier battery manufacturers. Third-tier companies may exhaust their cash and quietly exit the market in the coming years. However, given the market concentration, the exit of these companies has almost no impact on the industry's competitive landscape.
The price of lithium carbonate futures has surged, with a single-day increase of nearly 0.03 million contracts. The rumor of production suspension at Contemporary Amperex Technology has been confirmed. Will there be a bottoming out and rebound?
① Market experts have stated that if there is a significant reduction in the output of lithium carbonate in the coming months, the destocking level in September and October may exceed expectations; ② As the consumer market enters the peak season of "Golden September and Silver October", the fundamentals have improved recently and a turning point in inventory has already emerged.
Did the lithium battery sector rise sharply? Is the cyclical bottom here?
In the futures market, the main contract for lithium carbonate rose more than 7% at one point during the intraday trading, reaching a high point in over a week.
With a compound annual growth rate of only 2.6% over the past five years, China's top 100 pharmaceutical companies are entering an adjustment period. How will the industry break through under internal and external pressures?
According to the data from China Meheco Group, in 2023, multiple operation indicators of the pharmaceutical industry's leading companies have declined. The compound annual growth rate of the top 100 pharmaceutical companies in the country in the past five years is only 2.6%, and the industry as a whole has entered the adjustment phase from the initial high-speed growth. Behind the weak growth, the health industry is also undergoing transformation: overseas licensing trades for innovative drugs have reached a new high, and leading companies are accelerating outward expansion...
20 companies participated! Photovoltaic leader predicts that the bottom has been reached. Three major directions of lithium battery companies are being watched closely. | Directly hit the earnings conference of the Star New Energy Fund.
① In the photovoltaic industry, leading companies mentioned that the bottom of the industry has been reached, but the turning point still needs time. Many leading companies have disclosed tax incentives for building factories in the USA. ② In the lithium battery industry, solid state batteries, consumer batteries, and overseas markets have become breakthrough points for companies. ③ Enterprise capacity and capacity utilization are of concern. Many companies mentioned that capacity utilization will increase.
Is the chain of pharmacies entering a "mini ice age"? H1 growth rate "downgrades", the industry's high-growth stores may reach turning point.
① The growth rate of sales revenue of all categories in retail pharmacies has slowed down, and the competition in stock continues to intensify. In the first half of this year, it was difficult for major chain pharmacies to increase revenue and profit. ② In the future, the focus of pharmacy competition will shift to commodity extension and services. According to the prediction of Zhongkang Industry Research Institute, the growth rate of pharmaceuticals in all end terminals in 2024 is expected to decrease to 4.9%, a decrease from 2023.