New energy vehicle "mileage anxiety" charging pile industry "investment tide" change "delisting tide"?
Wu Yueming and Liang Siming
China's new energy vehicle production and sales have ranked first in the world for three consecutive years. While the global attention is focused on China's new energy vehicle market and various forces are flocking in, the charging pile is a difficult problem facing the new energy vehicle. The "mileage anxiety" has not yet been resolved. As the capital chase for the charging pile market is fading, the difficulty of making profits in the charging pile industry is gradually emerging.
Recently, with the announcement of annual reports of listed companies such as Costa and Triad, a reporter from China Business Daily found that the industry is still losing money year after year according to the semi-annual reports issued by several listed companies of charging piles, but the loss has gradually closed with the early investment and the effect of business model. Narrow.
"China Business News" reporter found that behind the thriving development of new energy vehicles, in the first half of this year, a number of enterprises have bankruptcy or acquisition fate, to a certain extent, reflects the charging pile industry is currently facing profit difficulties.
Zheng Jiarabbit, Deputy Secretary-General of China Electric Vehicle Charging Technology and Industry Alliance, told China Business Daily that the charging pile industry can be profitable. As the charging pile industry is in its infancy, a large number of enterprises enclosed and disorderly development, resulting in idle charging pile, unable to interconnect and other issues, thus affecting the profitability of enterprises.
Problem enterprise refraction earnings difficult
Despite the construction of the charging pile Market in full swing, many enterprises are in an awkward position because of the difficulty in making profits.
Earlier this year, it was reported that Shenzhen Charging Network Technology Company had stopped operating due to the breakdown of the capital chain. After two or three years of explosive growth, a wave of delisting, bankruptcy and acquisition was ushered in.
On July 9, Beijing Fudian Green Energy Technology Co., Ltd. (hereinafter referred to as "Fudian Green Energy") formally terminated its listing. The announcement showed that as of June 29, 2018, Fudian Green failed to disclose the "2017 Annual Report" in accordance with the stipulated time, so it was terminated by the new third board listing transactions. Pang Lei, chairman of Fudian Green Energy, told China Business Daily that he hoped to open up new financing channels as soon as possible, introduce new strategic financing or list on the Hong Kong stock market. Solve the problem of financing difficulties.
On August 1, Shenzhen Rongyi Electric Technology Co., Ltd. (hereinafter referred to as "Rongyi Electric") continued to lose money in recent years, has been unable to continue to operate, the company was dissolved in accordance with the law on July 31, 2008, into the company liquidation process.
"Individual sites because of unreasonable planning, a large number of early manpower, capital needs to be invested and other factors leading to loss of enterprises." In Zheng Jiarabbit's view, as the number of new energy vehicles increases, as long as there is a planned layout charging pile, it is not difficult for enterprises to achieve profitability. Charging pile enterprises urgently need to solve the problem of how to plan, layout and business mode, and manage and operate. It is necessary to optimize the layout of the charging pile, bring the layout of the charging pile into the overall planning of the city, and realize the fine management. At the same time, it is necessary to deploy strategically according to the superior resources of the enterprise and expand the market.
According to automobile analyst Zhong Shi, rechargeable pile enterprises need to spend more money, manpower and material resources to enclose horse races nationwide, so they must have a good source of funds to tide over this most difficult period. At present, the industry has changed from investment fever to rational investment. Initially, some small and medium-sized enterprises entered the market due to insufficient capital strength, management capacity is limited, gradually eliminated in the market competition, capital-rich enterprises often can survive this stage, as to when the industry will be profitable to return, it is not yet clear.
The bigger the demand, the bigger the loss.
In fact, a large number of enterprises are trying to escape from the vicious circle of "bigger demand and bigger losses".
Mr. Li, who lives in Shenzhen, told China Business News that the number of charging piles is not enough. Not only is the charging position of electric vehicles occupied by fuel vehicles, but even if the charging piles are found, they are likely to face the embarrassing situation that the charging piles have been installed for a long time but have not been energized.
According to the data in the Charging Pile Industry Forecast and Investment Analysis Report issued by the Research Institute of Forward-looking Industry, the gap between the piles is still expanding. By the end of 2017, the pile ratio of new energy vehicles was about 3.8:1 and that of pure electric passenger vehicles was about 1.8:1.
In fact, because of the infrastructure nature of the charging pile, the investment is huge, the cycle is long, and the demand for cash flow is extremely high. According to a number of brokerage research reports, the average cost of slow charging public charging piles is 20,000 yuan, the cost of fast charging piles is 100,000-200,000 yuan, and the cost of land use fees, infrastructure, distribution facilities, operation and other costs, relying only on the price difference and charging service fees, it is difficult to achieve profitability in the short term.
Zheng Jiarabbit for the "China Business News" reporter calculated such an account, such as 60 kilowatt charging pile, an average hour of 60 degrees of power supply, can charge 36 yuan for service. For example, each charging pile can work for 4 hours, up to 144 yuan a day, 4,500 yuan a month, and more than 50,000 yuan a year. In this way, the 60 kilowatt charging pile normally sells for five or six gross and one watt hours. In this way, for enterprises, as long as the effective use of the charging pile is promoted, it is possible to calculate the cost return and profitable time.
However, at the present stage, from the half year report of the charging pile listed enterprises, the results are not optimistic.
Costa's semi-annual report for 2018 showed that the operating cost of new energy charging equipment was 304.377 million yuan, an increase of 494.42% over the same period of last year, and the gross profit rate was 29.45%, down by 12.16% over the same period of last year. As for the performance of Kozda's charging pile business in the first half of 2018, CITIC Securities analysis mentioned that the growth of charging equipment accelerated, gross margin pressure. Among them, the company's charging equipment business income growth benefits from the dual benefits of policy and market, gross margin decline and product prices related to the decline.
In a letter to shareholders issued by Yu Dexiang, chairman of the first Treasury company in charge pile industry, the company said its target for 2018 is to reduce its losses to about 100 million yuan and strive for a break-even. However, this goal has not been achieved. The semi-annual report of 2018 shows that the company's charging revenue reached 200 million yuan, corresponding to last year's level, an increase of 193.8%, sales of charging equipment 226 million yuan, an increase of 1640.80%, and a loss of 30 million yuan in the reporting period.
In addition, in the first half of 2018, the operating income of the charging power supply system (charging pile) and the on-board power supply for electric vehicles of Tonghe Technologies was 18.8832 million yuan, down 17.34% compared with the same period of last year.
Profit path of charging pile Enterprises
Is charging pile business a good business for businesses? Why do profits often get into trouble?
At a previous industry forum organized by the China Electric Vehicle Charging Infrastructure Promotion Alliance (hereinafter referred to as the "China Charging Alliance"), representatives of some leading enterprises of charging piles have suffered a lot: being stuck in the neck by property companies, low utilization of charging piles, too many charging station operation constraints and so on. The common problem is that profitability is too difficult.
Usually, the main profit of charging pile operation comes from service fee, electricity price difference and value-added service. Charging electricity and service fees is the basic way of profit for most operators at present.
An executive in charge pile industry told our reporter frankly, "Now most of the charging operators are relying on electricity price difference and service fee income, coupled with their high cost of capital, the terminal operation object selection is wrong, so almost all fall into serious losses."
In the view of the above people, charging is a very good business, in the start-up is a small profit business, the operator needs to have a high operating capacity. Charging operation has great room for development after scale economy. Specifically, revenue sources include charging charges directly and the difference in electricity charges; selling charging contracts, often referred to as "packages"; and using energy Internet technology and energy storage technology to find more profit from peak and trough electricity prices.
Pang Lei, chairman of the electric power and green energy company, believes that the profitability of the charging pile industry is no problem. He reckoned: "Each DC pile is used eight times a day, charging service fee is 0.8 yuan a degree, charging capacity is about 20 degrees a time, an annual charging service fee of a charging pile totals 46720 yuan, the input of each DC pile is 230,000 yuan, it is estimated that the cost will be recovered in five years." Pontley believes that if the charging pile is properly located and operated, coupled with a 30% drop in the price of the charging pile itself and some state subsidies, there is no big problem in achieving profitability.
Nevertheless, charging pile enterprises are trying to diversify their business and seek new profit points in addition to seeking breakthroughs in pile operation mode.
According to the "Market Prospect Analysis and Trend Forecast Report of China Charging Pile Industry from 2018 to 2024" issued by Zhiyan Consultancy, many enterprises attempt to make a profit from advertising, insurance, finance, car sales, vehicle leasing and automobile industry data.
According to the data, the green energy of Fudian has developed a lot of value-added services based on the charging station, such as time-sharing leasing, car sales, car theater and other projects can be seen in the large-scale stations of the green energy of Fudian. The business mode of pile truck linkage has expanded the profit margin of the company. Special call has developed the "special vehicle" APP, to achieve the expansion of car sales, car rental, time sharing leasing and other industries. The State Grid can guarantee charging safety for customers by giving the charging pile insurance method. For the attempt to sell cars, the State Grid launched the "State Grid Mall", including the sale of electric vehicles business.
The senior personage of charge pile profession expresses, diversification management is a transition means, it is scattered charge station to charge before the net is built income safeguard, because charge operation wants to realize profit to need certain scale, although individual charge station has profit ability, but profit rate is ceiling, diversification management can be effective Improve the profit margin of the entire charging station assets.
In the view of the industry, it is no longer meaningful for the rechargeable pile enterprises to seize the market by race-horse enclosure. It is necessary to find the consumer demand in the market segmentation as soon as possible, and provide personalized solutions. With the continuous expansion of the new energy automobile market and the substantial increase of the charge, the charging pile enterprise is expected to rely on the charge fee to achieve profits. Maybe this is the way to win in the second half.
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