扩产能 推新品 宁德时代三季报尽显“王者之气”

Core Viewpoint - Ningde Times reported strong financial performance in Q3 2025, with significant revenue and profit growth, driven by increased demand for lithium batteries and ongoing capacity expansion efforts [2][3]. Financial Performance - In Q3 2025, the company achieved revenue of 104.186 billion yuan, a year-on-year increase of 12.90% - Net profit attributable to shareholders was 18.549 billion yuan, up 41.21% year-on-year - For the first three quarters, total revenue reached 283.072 billion yuan, growing by 9.28% - Net profit for the same period was 49.034 billion yuan, reflecting a 36.20% increase year-on-year [2]. Capacity Expansion - The company is actively expanding its global production capacity, with significant expansions planned in various domestic bases, including Shandong, Guangdong, Jiangxi, Fujian, and Qinghai - The Shandong Jining base alone is expected to add over 100 GWh of energy storage capacity by 2026 - Internationally, the German factory is set to achieve production and profitability by 2024, while the Hungarian factory's first production line is expected to be completed by the end of 2025 - The Spanish factory has completed preliminary approvals and is moving forward with construction, and the Indonesian battery project is planned to have a capacity of 15 GWh, expected to be operational by mid-2026 [3]. Shareholder Activity - In Q3, Hong Kong Central Clearing Limited, the company's second-largest shareholder, increased its stake by acquiring 53.92 million shares, raising its ownership to 14.48% - Other major shareholders either maintained or reduced their holdings, primarily domestic funds [3]. Innovation and Ecosystem Development - The company launched the NP3.0 technology and the Shenxing Pro battery, which aims to enhance safety standards and support ultra-fast charging capabilities - The sodium-ion battery has passed new national standards, showcasing advantages in low-temperature performance, safety, and cost for large-scale applications - Collaborations with industry leaders, such as JD Group and Sinopec, are aimed at building a comprehensive battery exchange ecosystem and promoting green transportation initiatives - The company also initiated an industry initiative for a circular economy in battery usage during the Munich Auto Show [4].