In the fourth week of January 2022 (01.24 ~ 01.28), individual stocks in the new energy vehicle industry chain made another correction in the capital market.
According to wind data, the themes of new energy vehicles, power batteries and lithium mines fell by 4.52%, 3.18% and 0.30% respectively last week.
It is worth noting that individual stocks in the new energy vehicle industry chain continued to have a high outlook in 2021, while individual stocks have generally retreated since 2022. However, many industry insiders and institutions believe that in the medium and long term, under the background of "double carbon" target guidance, the market of new energy vehicles and industrial chain has not ended.
"Many investors will question the subsequent competitiveness of electric vehicles and consider whether the production and sales volume can meet the expectations. However, the actual situation is that the decline of subsidies does not happen suddenly. Most of them are within the expectations, including the time point and the extent of the decline, which basically meet the expectations." Lu Yaozhi, manager of Minghe investment fund, said that the core of the correction of new energy vehicle related sectors is that the short-term increase is too high, and there is a deviation between the matching degree of valuation and profit growth.
In Lu Yaozhi's view, "carbon neutralization", electric vehicles and photovoltaic are certainly the core development direction in the future. These industries are fast-growing industries, and the growth is aimed at industries, not individual stocks.
e data
Lithium battery and salt lake lithium extraction stocks performed prominently this week. Among them, the share price of Qinghai Salt Lake Industry Co.Ltd(000792) (000792. SZ) rose 10.01% during the week, ranking first in the list of share price increases, and it is also the only stock with a share price increase of more than 10% during the week
tabulation: every reporter Sun Lei
Huaxin Securities said in a recent research report that Lanke lithium, a subsidiary of Qinghai Salt Lake Industry Co.Ltd(000792) , will add 20000 tons of lithium carbonate capacity in 2021 and continue to climb production, and will reach a full capacity of 30000 tons of lithium carbonate in 2022. In 2021, the company produced about 22700 tons of lithium carbonate, sold about 19200 tons of lithium carbonate, and accumulated about 3500 tons of lithium carbonate in the year. According to the quotation of Antaike, the current quotation of industrial lithium carbonate in China reaches 332500 yuan / ton, 188% higher than the average price in 2021. It is expected that the production and sales of lithium carbonate of the company will continue to grow year-on-year in 2022. At the same time, under the background of tight supply and demand of lithium salt, the price of lithium carbonate will continue to be high, and the lithium salt sector of the company will continue to maintain a high boom in 2022.
The second highest share price increase was Ganfeng Lithium Co.Ltd(002460) (002460. SZ), up 9.25% during the week. On the evening of January 24, Ganfeng Lithium Co.Ltd(002460) disclosed the performance forecast for 2021. It is estimated that the annual net profit in 2021 will reach 4.8 billion ~ 5.5 billion yuan, an increase of 368.45% ~ 436.76% over the previous year, and the growth rate of net profit after deduction is 621.00% ~ 795.04%. On January 25, after the disclosure of the performance forecast, when the overall A-share market fell, Ganfeng Lithium Co.Ltd(002460) share price rose by 2.33%, and the market value once returned to 200 billion yuan.
Tianqi Lithium Corporation(002466) (002466. SZ) ranked third in the list with its share price rising by 7.77% during the week. On the evening of January 26, Tianqi Lithium Corporation(002466) released the performance forecast for 2021. It is estimated that the net profit attributable to the shareholders of the listed company will be 1.8 billion ~ 2.4 billion yuan in 2021, turning losses into profits year-on-year. As of the closing on January 27, Tianqi Lithium Corporation(002466) shares closed at 88.64 yuan / share, up 3.47%, with a total market value of 130.9 billion yuan.
It is worth mentioning that on the evening of January 27, Tianqi Lithium Corporation(002466) announced that the application materials for the company's initial public offering of overseas listed foreign shares (H shares) had been accepted by the CSRC. This means that Tianqi Lithium Corporation(002466) has obtained the "path" of H-share listing, or will submit a prospectus to the Hong Kong Stock Exchange soon.
In terms of share price decline, the share price of Xiaopeng automobile-w (9868. HK) in "Wei Xiaoli" fell 28.01% during the week, took the position of "negative monitor", and the share price of ideal automobile-w (2015. HK) in Hong Kong stock market fell 19.36% during the week
tabulation: every reporter Sun Lei
In terms of US stocks, the shares of NiO. N, Li. O and xpev. N fell 23.58%, 23.10% and 14.09% respectively during the week. Among them, Weilai set a 52 week low of $19.31 per share in this week's trading, less than half of the highest value.
It is worth noting that not only "Wei Xiaoli", many technology stocks such as apple (apple. O), Google (Google. O) and NVIDIA (NVDA. O) have suffered a decline in share prices recently. It is reported that the recent market expectations that the Federal Reserve will raise interest rates many times this year to fight inflation have heated up, putting pressure on the stock market.
In terms of the range net active purchase amount, lithium battery and salt lake lithium equity week are still concerned by the capital market. Contemporary Amperex Technology Co.Limited(300750) (300750. SZ), Tianqi Lithium Corporation(002466) , Ganfeng Lithium Co.Ltd(002460) , Qinghai Salt Lake Industry Co.Ltd(000792) , Eve Energy Co.Ltd(300014) (300014. SZ) and other stocks were listed
tabulation: every reporter Sun Lei
On the evening of January 27, Contemporary Amperex Technology Co.Limited(300750) released the performance forecast for 2021. It is estimated that the net profit in 2021 will be 14 billion ~ 16.5 billion yuan, with a year-on-year increase of 150.75% ~ 195.52%. After deducting non recurring profits and losses, the net profit will be 12 billion ~ 14 billion yuan, with a year-on-year increase of 181.38% ~ 228.28%. The performance is much higher than expected.
Affected by the news of large increase in performance, as of the closing of A-Shares on January 28, Contemporary Amperex Technology Co.Limited(300750) share price was 592.60 yuan / share, up 3.06%, with a total market value of 1.38 trillion yuan, an increase of nearly 41 billion yuan in one day.
In terms of market value ranking, the ranking of a and H shares related to the new energy vehicle industry chain changed significantly this week. Except for Contemporary Amperex Technology Co.Limited(300750) , Byd Company Limited(002594) (002594. SZ), Great Wall Motor Company Limited(601633) (601633. SH), Zijin Mining Group Company Limited(601899) (601899. SH), the ranking of other stocks in the top ten of market value has changed
tabulation: every reporter Sun Lei
Among them, Yunnan Energy New Material Co.Ltd(002812) (002812. SZ), Saic Motor Corporation Limited(600104) (600104. SH), Eve Energy Co.Ltd(300014) (300014. SZ), Ganfeng Lithium Co.Ltd(002460) (002460. SZ) all achieved the improvement of the ranking, while Xiaopeng automobile-w fell to the ninth place, while ideal automobile-w was squeezed out of the top ten by Qinghai Salt Lake Industry Co.Ltd(000792) .
In terms of market value changes, except that the market value increased by 4.06% to 1381.262 billion yuan in the Contemporary Amperex Technology Co.Limited(300750) week, the values of the other nine stock markets decreased to varying degrees.
E major event
1. In 2025, the sales volume of new energy vehicles will reach 20%
Recently, the State Council issued the comprehensive work plan for energy conservation and emission reduction in the 14th five year plan (hereinafter referred to as the work plan), which deployed ten key projects such as green upgrading projects in key industries, green energy conservation transformation projects in cities and towns and energy conservation and emission reduction projects in transportation and logistics, and optimized and improved the dual control system of energy consumption, Improve the economic policy and other aspects, and put forward the arrangement of improving the policy mechanism.
The work plan proposes to increase the proportion of new energy vehicles used by urban public transport, leasing, logistics, sanitation and cleaning vehicles; Fully implement the "national six" emission standards for automobiles and the "national four" emission standards for non road mobile diesel machinery, and basically eliminate the "national three" and below emission standards for automobiles; By 2025, the sales volume of new energy vehicles will reach about 20% of the total sales volume of new vehicles.
\u3000\u3000 2。 Tesla delivered 930000 new cars in 2021
On January 26 local time, Tesla (tsla) released the fourth quarter and full year financial reports of 2021. According to the financial report, Tesla's revenue in 2021 was US $53.823 billion, an increase of 71% over US $31.536 billion in the same period last year; GAAP net profit was 5.519 billion yuan, a year-on-year increase of 665.46%. In 2021, Tesla delivered about 936200 new cars, a year-on-year increase of 87.4%, far exceeding Tesla's previous commitment of an annual increase of 50%. Tesla said in the financial report that the company plans to increase production capacity as soon as possible. In the next few years, it is expected that the average annual growth rate of vehicle delivery will reach 50%.
\u3000\u3000 3。 South Korean power battery company LG new energy officially listed
On January 27, LG new energy was listed on the Korean stock exchange at an issue price of 30 trillion won per share (about 1600 yuan). On the opening day, LG new energy's share price soared 99% to 598000 won. However, the share price fell later. As of the closing on January 28, LG new energy reported 450000 won, down 10.89% from the previous trading day. It is reported that the latest market value of LG new energy is 105.3 trillion won (about 553.8 billion yuan), which has surpassed SK Hynix, second only to Samsung and ranked second in the Korean stock market.
\u3000\u3000 4。 Chongqing Sokon Industry Group Stock Co.Ltd(601127) the proposed non-public offering of A-Shares exceeds 7.1 billion yuan
On January 26, Chongqing Sokon Industry Group Stock Co.Ltd(601127) (601127. SH) successively announced that the process of H-share issuance and listing passed in November 2021 would be suspended, and the fund raised by non-public offering of shares in the A-share market would not exceed 7.13 billion yuan. Chongqing Sokon Industry Group Stock Co.Ltd(601127) said that the net amount of the raised funds after deducting the issuance expenses will be used for electric vehicle development and product platform technology upgrading project (4.31 billion yuan), factory intelligent upgrading and electric drive production line construction project (610 million yuan), user center construction project (210 million yuan) and supplementary working capital project (2 billion yuan).
\u3000\u3000 5。 Byd Company Limited(002594) Semiconductor Co., Ltd. gem IPO meeting
Recently, the results of the fifth review meeting of the GEM Listing Committee in 2022 showed that the initial public offering of Byd Company Limited(002594) Semiconductor Co., Ltd. (hereinafter referred to as Byd Company Limited(002594) semiconductor) met the issuance conditions, listing conditions and information disclosure requirements. According to the latest prospectus information, Byd Company Limited(002594) semiconductor plans to be listed on the Shenzhen Stock Exchange gem this time, with a public offering of no more than 50 million shares, the company's shareholders do not offer shares, and the new shares issued to the public shall not be less than 10% of the total share capital after this offering. Byd Company Limited(002594) semiconductor plans to raise 2.001 billion yuan for key technology research and development projects of power semiconductor, high-performance MCU chip design and test technology research and development projects, high-precision BMS chip design and test technology research and development projects, and supplement working capital.
e comments
According to the analysis of Dongguan securities, from the perspective of the general trend, the chip supply continues to improve, the overall auto market is expected to achieve steady growth in 2022, the trend of replenishing inventory will continue, and the demand of parts and components will continue to repair. Since the new year, there have been frequent favorable policies for new energy vehicles. The national development and Reform Commission and other departments have issued the implementation plan for promoting green consumption and the implementation opinions on further improving the service guarantee capacity of electric vehicle charging infrastructure to continue to encourage and support the development of new energy vehicles. The new energy vehicle market is expected to maintain a high growth momentum in 2022, and the fuel cell vehicle industry is expected to accelerate its development.
In terms of industrial chain, Hongta Securities Co.Ltd(601236) believes that under the influence of multiple factors such as the recent centralized shutdown and maintenance of lithium ore upstream manufacturers and the tight supply of lithium concentrate raw materials, the prices of battery grade lithium carbonate and lithium hydroxide continue to remain high and show signs of accelerating rise, which may have an adverse impact on middle and downstream material and battery manufacturers. Under the double squeeze of the price rise of upstream materials and the strong demand of downstream, the cathode material has just ended a new round of price rise cycle and entered the platform period, but on the whole, its price is still high. Considering that the subsequent downstream demand rate will remain strong, the capacity supply of raw materials such as upstream lithium ore will largely determine the subsequent price change of cathode materials.
Last week, we focused on stocks in the field of lithium battery electrolyte. According to the analysis of Shengang securities, the downstream solvent of lithium battery electrolyte is lithium battery electrolyte, which is an important part of lithium battery. According to the prediction of GGII, the output of Shanxi Guoxin Energy Corporation Limited(600617) vehicles is expected to reach 6 million in 2022, which will drive the shipment of power batteries to exceed 450 GWH. With the rapid growth of Shanxi Guoxin Energy Corporation Limited(600617) automobile market, the shipment of supporting power batteries will also continue to grow, and the electrolyte, as an important component material of new energy power batteries, will also continue to grow. It is expected that with the expansion of leading enterprises and the acceleration of global layout, the industry concentration of China's electrolyte market is expected to be further improved in the future.
Citic Securities Company Limited(600030) believes that Shenzhen Capchem Technology.Ltd(300037) (300037. SZ), as a global electrolyte leader with integrated layout, since the second half of 2020, driven by the explosion of demand for lithium battery materials, the production and sales of the company have increased rapidly, the production and sales of raw material projects such as solvents and additives have improved their profitability, and organic fluorine, capacitors and semiconductor chemicals have increased steadily. It is expected that the company will fully benefit from the growth of demand for lithium battery materials and be optimistic about the sustainable growth of the company given by the multi-point flowering of its own new material platform construction driven business.
