How bad is Honeycomb Energy?Honeycomb Energy is really rubbish

As a battery company independent from the Great Wall Group, Honeycomb Energy has now entered the second tier, and Great Wall has been providing support. However, there have been many voices about the fact that Honeycomb Energy is very bad recently. So how bad is Honeycomb Energy? Woolen cloth?

According to a number of netizens who used to work as research technicians in Honeycomb Energy, the company’s exploitation is relatively serious, and it has become commonplace to work overtime until late at night, and the collaboration efficiency between various departments is low. Most of the time is actually ineffective work. Many people only persist for a year or two before finding another job.

In addition, as an independent battery company, the products of Honeycomb Battery even need to rely on competitors. From 2019 to 2020, Ningde Times is the largest supplier of Honeycomb Energy, mainly supplying battery cells and module products, and the proportion of independent production of Honeycomb Energy's products is only 50%.

Even if the company's own cell production line is put into production, the current production capacity is relatively low, and the external procurement of honeycomb energy battery products still accounts for 5%, and as the company blindly expands production capacity regardless of market performance, coupled with honeycomb The recent market share of energy has dropped significantly, and the company's capacity utilization rate is now only about 60%.

Against such a background, Honeycomb Energy has various problems such as low production and sales ratio, low gross profit margin, and high investment in management expenses. Since its establishment in 2018, it has been losing money and has never made a profit. As of now, the company’s loss has exceeded 3 billion Yuan.

Honeycomb Energy is really rubbish

Although Honeycomb Energy has the above problems, it cannot be said to be real garbage. In the list of installed capacity of battery companies in 2022, Honeycomb Energy's installed capacity is 6.1GWh, with a market share of 2%, an increase of 88% year-on-year. The brands equipped with Honeycomb Energy power batteries are mainly Great Wall, Leapao, Nezha, and Dongfeng.

Although the installed capacity and market share of Honeycomb Energy are not as good as those of China Innovation Aviation, Guoxuan Hi-Tech and other peers, they are also better than Funeng Technology, Sunwoda, and Ruipu Energy. The strength is still relatively good.

In terms of China's automobile patent data statistics, Honeycomb Energy was selected into the 2022 TOP50 list of China's automobile patent authorizations with 329 invention authorizations, ranking first among the selected battery companies, with a year-on-year increase of 122.30%, and ranked with 1049 public patents 2022 China's new energy vehicle power battery system patent disclosure TOP20 second.

For now, the lithium battery market is actually as introverted as the auto market. As a latecomer, it is actually difficult for Honeycomb Energy to stand out. However, under the wave of new energy development, Honeycomb Energy will probably not go bankrupt. Might just need some time to prove myself.