Nomura: Ningde Era's battery shipment volume this year may maintain its growth momentum.

Nomura analysts wrote in a report that Ningde Times' battery shipments are expected to continue their growth momentum this year. They stated that strong demand for energy storage systems is expected to help drive the company's revenue growth this year. They added that as the demand for single-cell batteries increases, the company's market share in global electric vehicle battery shipments continues to rise, which should offset the impact of weak demand for passenger electric vehicles in China. They also stated that the company's pricing mechanism has been able to pass on cost increases to customers to some extent, maintaining its unit profitability in the first quarter. Nomura maintains a buy rating on Ningde Times' stock with a target price of 476 yuan.