CATL(SZ:300750) Chan Ye Xin Xi Wang·2025-06-26 01:12Core Insights - Ningde City is focusing on building an innovative ecosystem that integrates industrial and innovation chains, leading to significant growth in technological research and development investments and the transformation of technological achievements [1][28] - The city has established four internationally competitive industrial clusters: lithium battery new energy, new energy vehicles, stainless steel new materials, and copper materials, which are driving rapid development across the entire industrial chain [1][28] - By 2024, the output value of these four main industrial clusters is expected to approach 550 billion yuan, with two clusters exceeding 200 billion yuan, one exceeding 30 billion yuan, and one exceeding 10 billion yuan [1][14] Economic Analysis - In 2024, Ningde City's GDP is projected to reach 390.2 billion yuan, reflecting a 1.1% increase from the previous year, with the primary, secondary, and tertiary industries contributing 415.92 billion yuan, 2041.40 billion yuan, and 1444.67 billion yuan respectively [2][4] - The industrial structure is undergoing significant adjustments, with the secondary industry accounting for 52.3% of the GDP and the tertiary industry at 37.0% [2] Industrial Development - The industrial economy of Ningde has entered a new phase of quality improvement and efficiency enhancement, with the total industrial added value growing by 0.2% in 2024, while the added value of large-scale industries decreased by 3.4% [4] - The four main industrial clusters accounted for 82.2% of the city's large-scale industrial added value in 2024, an increase of 15.5 percentage points since 2020 [11] Investment Trends - Fixed asset investment in Ningde City is expected to grow by 5.4% in 2024, with significant investments in the primary (12.4%), secondary (7.5%), and tertiary (3.5%) industries [6] - A total of 338 key projects completed investments of 78.5 billion yuan, with 836 new major projects planned, totaling 192.8 billion yuan [6] Consumer Market - The retail sales of consumer goods in Ningde City reached 95.4 billion yuan in 2024, marking a 1.3% increase from the previous year, with a notable growth in retail sales below the limit [8] Key Industries - The lithium battery new energy industry has become a significant growth driver for Ningde's economy, with an output value of 250.8 billion yuan in 2024, despite a decrease of 44 billion yuan from the previous year [16] - The stainless steel new materials industry reached an output value of 227 billion yuan in 2024, growing by 8% [21] - The copper materials industry is also expanding rapidly, with an output value of 38.3 billion yuan in 2024, reflecting a 23% increase [26] Future Outlook - Ningde City aims to continue strengthening its leading industries and enhance the integration of emerging and traditional industries, focusing on electric health, electric ships, and electric aviation as future growth areas [10][28]