Core Insights - The article highlights the significant market potential and growth trajectory of Nabichuan, a leading manufacturer of battery liquid cooling plates, which achieved a remarkable 408% increase on its first day of trading [1][22]. Group 1: Company Overview - Nabichuan has evolved over 18 years from a local automotive parts supplier to a dominant player in the domestic battery liquid cooling plate market, achieving a market share of 12.16% in 2024 [3][22]. - The company has established strong partnerships with major automotive manufacturers, including CATL, NIO, and Mercedes-Benz, supplying over 50 global mainstream car manufacturers [3][22]. - Nabichuan's production capabilities are set to expand significantly with the establishment of a new facility in Chuzhou, which will produce 360,000 sets of water cooling plates annually, enhancing its capacity to meet growing demand [3][22]. Group 2: Market Dynamics - The penetration rate of new energy vehicles has surpassed 40%, and the energy storage installation capacity has increased fivefold over three years, indicating a booming market for battery thermal management systems [3][22]. - The market size for battery liquid cooling plates in China was approximately 4.7 billion yuan in 2022, with projections suggesting it could reach 9.6 billion yuan by 2025, reflecting a growth of 104.26% [15][32]. - The global market for battery liquid cooling plates is expected to grow to 14.5 billion yuan by 2025, driven by the rapid increase in new energy vehicle production and advancements in battery technology [15][32]. Group 3: Financial Performance - Nabichuan demonstrated resilience in its financial performance, with revenue growth from 1.031 billion yuan in 2022 to 1.437 billion yuan in 2024, representing a compound annual growth rate of 18.07% [11][29]. - In the first three quarters of 2025, the company reported a revenue of 1.208 billion yuan and a net profit of 58 million yuan, marking year-on-year growth of 32.29% and 29.3%, respectively [14][31]. - Despite challenges such as industry price competition, Nabichuan maintained a stable net profit range of 95 million yuan to 113 million yuan from 2022 to 2024 [16][33]. Group 4: Technological Advancements - Nabichuan has developed a robust technological framework, including temperature control, lightweight technology, and automated production processes, with 20 invention patents and 183 utility model patents as of March 2025 [6][26]. - The company is actively innovating its product offerings, achieving significant efficiency improvements in product development timelines, such as completing a battery liquid cooling plate project for Mercedes-Benz in just 210 days [6][26]. - The integration of battery liquid cooling plates with battery boxes is anticipated to enhance product value, with the single vehicle value of battery boxes estimated at around 2,000 yuan [19][36].
首日大涨408%！电池液冷板隐形冠军纳百川