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MNS - MAGNIS ENERGY TECHNOLOGIES LTD


bereal

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new name .... on November 5th, 2018, Magnis Resources Limited changed its name to Magnis Energy Technologies Limited.(MNS)

 

Two big days of high volume and share price gains ... 18c to 32c. No announcements have been released since 05 January so it is hard to tell what is behind the recent price action?

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Frank gave an interview claiming 1GWh of plant is worth $5 billion and that MNS's New York plant with its $5M of 2nd hand equipment from a liquidation sale (i recall it was previously 1GWh to be upgraded to 3Gwh for US$52M per 2019 Annual Report) will be producing by end of 2021. The interview is here: https://omny.fm/shows/ceo-interviews/frank-...gy-technologies
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per this link: https://www.catl.com/en/uploads/1/file/publ..._isu5va488a.pdf it appears CATL says its global sales of batteries was 40.96GWh for 2019.

 

This made a profit of $4.356 billion Yuan https://www.chinapev.com/breaking-news/chin...es-4-4-billion/

 

This would be a profit of AUD$21.3M per Gwh at current exchange rates.

 

At that time early last year CATL was valued at a peak of AUD$79B or $2B per GWh.

 

However, CATL's profit fell for the last half-year report to $1.94B yuan for the half year to 30/6.20, here: http://www.xinhuanet.com/english/2020-08/27/c_139322201.htm

 

Therefore, Franks' claim that 1GwH is worth $5B appears contrary to the above.

 

CATL's share price has doubled since early 2020 (per COVID) but their expansion plans are also massive:

 

CATL wants to massively expand its production capacities for battery cells, to 230 GWh this year and to 1,200 GWh in 2025. In parallel, the Chinese battery manufacturer is aiming to expand to Japan, Indonesia, the USA and Europe.

 

The report came from the German business publication Handelsblatt on CATL’s plans. According to a chart in the publication, CATL wants to increase its production capacity between 2020 and 2025 in the following stages: 110 GWh (2020), 230 GWh (2021), 380 GWh (2022), 540 GWh (2023), 830 GWh (2024) and 1,200 GWh (2025).

 

So far, it is unclear whether the manufacturer achieved its 2020 targets. The most recent annual statistics are from 2019, a year in which the Chinese company reached 32.5 GWh :unsure: . With that capacity, CATL topped the list of largest battery cell manufacturers in 2019, ahead of Japan’s Panasonic (28.1 GWh) and South Korea’s LG Chem (12.4 GWh). The group’s success is mainly due to its strong position in the domestic market. CATL’s market share there grew to more than 51 per cent in 2019.

 

However, there are indications that the particular economic conditions of the first half of 2020 have shaken up the balance of power in the already dynamic electric vehicle battery market. Figures from SNE Research revealed over the summer that South Korean electric vehicle battery manufacturers more than doubled their market share between January and July 2020. In general, the market shrank 16.8 per cent from 64.1 to 53.3 GWh of capacity in the Corona-induced tough first seven months of the year.

 

At CATL, the expansion of production capacity is to be accompanied by expansion to Japan, Indonesia, the USA and Europe, with Germany playing a key role in the European market. This is marked by the construction of CATL’s first production facility

https://www.electrive.com/2021/01/06/catl-t...acity-for-2021/

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In summary, while i have great doubts, if MNS can bring a 3GwH plant into production in New York and can make CATL's AUS$20M in profit per GwH (despite lacking the economies of scale), on a PE ratio of 25, this values MNS at $1.5 billion market cap or $2 per share. I suppose I will hold my shares.

 

This issue is MNS competing with the big boys. :ph34r:

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