Core Viewpoint - CATL is accelerating its skateboard chassis business, focusing on commercial vehicles and specific scenarios like Robotaxi, aiming for breakthroughs in the mid-to-low-end passenger car market [1][15]. Financing and Business Development - CATL's subsidiary, Times Intelligent, is in the process of raising 2 billion yuan in its first external financing round, with a pre-financing valuation of approximately 9 billion yuan [2]. - Times Intelligent, established in 2021, specializes in battery-centric skateboard chassis products and services, and is now opening up equity to external capital for the first time [2][3]. - The financing is driven by the need to alleviate financial pressure due to limited group funding and underperformance in expected sales from partnerships, particularly with Nezha Auto [5]. Technological Advancements - The skateboard chassis, known as CIIC, integrates battery and electric drive systems, allowing for a decoupled design that can adapt to various vehicle bodies [3]. - Recent collaborations with automakers like BAIC, JAC, and Changan Mazda are expected to yield new models by 2026-2027 [7]. Strategic Considerations - CATL's entry into the skateboard chassis market is motivated by the need to bundle its battery business and counteract declining growth rates in its core battery segment [7]. - The company's gross margin has decreased from 43.7% in 2016 to 24.4% in 2024, with market share dropping from 52.1% in 2021 to 43.4% in the first half of 2023 [7]. Market Challenges and Opportunities - The skateboard chassis concept, while historically facing challenges, is now seen as having potential due to its ability to shorten development cycles and reduce costs for electric vehicles [12][13]. - However, third-party chassis companies face challenges in gaining acceptance from traditional automakers, who may prefer to develop their own chassis for differentiation [14]. Future Prospects - CATL is targeting commercial vehicles, specific scenarios like Robotaxi, and cost-effective mid-to-low-end passenger cars as key areas for growth [15]. - A strategic partnership with T3 Mobility aims to advance the development of Robotaxi based on CATL's skateboard chassis platform [15].

宁德时代正加速推进其滑板底盘业务。7月28日，有市场消息传出，宁德时代旗下时代智能开启首轮外部融资，融资规模为20亿元，投前估值约90亿元。据 悉，此轮融资未完全公开，而是采用定向邀请方式，要求"1亿起投，目前参与的多为大国资"。 经济观察报向宁德时代内部人士求证，对方确认时代智能融资事宜正在推进，首轮融资即将完成。其表示，本轮融资由知名市场化投资机构领投，新能源产 业资本和国有资本共同参与。不过，对于具体的估值和融资细节，该内部人士表示暂不便对外透露。 时代智能全称为"宁德时代（上海）智能科技有限公司"，成立于2021年，注册资本2.5亿元，专注于提供以电池为核心的滑板底盘相关产品和技术服务。此 前，时代智能长期作为宁德时代的全资子公司运营，2023年11月虽引入新投资主体，但均为宁德时代关联公司。此次融资是时代智能首次向宁德时代体系外 资本开放股权。 滑板底盘又称CIIC（CATL Integrated Intelligent Chassis），是以电池/电驱为核心，通过CTC（Cell to Chassis）技术实现高度集成的电动底盘。它将电池、电 动传动系统、悬架、刹车等部件提前整合在底盘上，通过预留 ...

赴港二次上市，宁德时代再进一步。4月14日晚，宁德时代发布的财报显示，今年一季度营收超800亿 元，净利润近140亿元。同时，对于外界关注的赴港上市进展，宁德时代在财报中披露："从2月11日向 港交所递交上市申请到4月10日聆讯，公司H股顺利推进。"接近宁德时代的相关人士向北京商报记者透 露，宁德时代已通过港交所聆讯。日赚超1.5亿元的宁德时代，赴港上市将加速拓展海外市场，而在国 内市场也再扩换电棋局。 | | 本架合即 | 上年到開 | 本报告開比上年同開增域(%) | | --- | --- | --- | --- | | 营业收入(于元) | 84,704,589 | 79.770.779 | 6.18% | | 目属于上市公司股东的净利 剧《千元》 | 13,962,558 | 10,509,923 | 32.85% | | 自属于上市公司股东的扣除 #经常性描曲的净利润(中 | 11,129,172 | 0.247,439 | 27.92% | | 元) | | | | | 经营活动产生的观念流量净 图(千元) | 32,868,257. | 28,157,911 | 15.91% | | 基本的股 ...