In mid January, Shanxi Guoxin Energy Corporation Limited(600617) cars remained strong, with seasonal correction in Europe. A number of Chinese auto companies released the production and sales situation in January 22. In terms of new forces, Weilai delivered 9652 vehicles in January, with a year-on-year increase of 34% and a month on month decrease of 8%; Xiaopeng delivered 12922 vehicles in January, with a year-on-year increase of 115% and a month on month decrease of 19%; 12268 vehicles are expected to be delivered in January, with a year-on-year increase of 128% and a month on month decrease of 13%. In terms of traditional auto enterprises, Byd Company Limited(002594) 93000 new energy vehicles were sold in January, with a year-on-year increase of 362% and a slight decrease of 0.8% month on month; GAC AEAN sold 16000 vehicles, down 4% month on month. On the whole, the year-on-year data still maintained a strong growth trend, the correction range of the month on month data was limited, and the influence of seasonal factors was not obvious, which confirmed that the high view of the Shanxi Guoxin Energy Corporation Limited(600617) car was still maintained.
In January, the sales volume of electric vehicles in Germany, France, Norway, the United Kingdom, Sweden and Italy totaled 108000, with a year-on-year increase of 27% and a month on month decrease of 47%; The penetration rate of electric vehicles in the six countries reached 20.1% in January, with a year-on-year increase of 4.6pct and a month on month decrease of 12.1pct. The year-end sales volume of electric vehicles and the seasonal emission ratio of model Y / 3 in Europe meet the main factors of the year-end assessment.
Industry trends: a number of listed companies issued performance forecasts for 2021; Kemais charging station has been launched, covering 80 cities in China; Last week, the share price of new energy automobile industry chain company continued to adjust, and the net value of new energy theme fund fell.
Investment suggestion: with the strengthening of policy and auto enterprises, the penetration of new energy vehicles in the global market is ushering in a new round of acceleration, and the industry boom is rising. It is suggested to pay attention to the main line of new forces represented by Tesla and the catch-up process of new models such as Volkswagen, and recommend leading and second-line elastic targets. In terms of the whole vehicle, Great Wall Motor Company Limited(601633) (2333. HK), Geely Automobile (0175. HK) and Xiaopeng automobile (9868. HK) are highly recommended; In terms of battery materials, Contemporary Amperex Technology Co.Limited(300750) , Beijing Easpring Material Technology Co.Ltd(300073) , Ningbo Shanshan Co.Ltd(600884) are recommended; In terms of motor electric control, it is recommended to pay attention to Wolong Electric Group Co.Ltd(600580) , Shenzhen Inovance Technology Co.Ltd(300124) ; For lithium battery equipment, it is recommended to pay attention to Wuxi Lead Intelligent Equipment Co.Ltd(300450) and Zhejiang Hangke Technology Incorporated Company(688006) ; In terms of lithium and cobalt, it is recommended to pay attention to Zhejiang Huayou Cobalt Co.Ltd(603799) , Chengxin Lithium Group Co.Ltd(002240) .
Risk tips: 1. The growth rate of electric vehicle production and sales slows down. With the continuous growth of the production and sales base of new energy vehicles, it will be more and more difficult to maintain a high growth rate, and the introduction of mainstream models for the public has become the key; 2. The price war in the industrial chain intensified. The continuous decline of subsidies and the continuous investment of new production capacity have led to the pressure of price reduction in all links of the industrial chain; 3. The influx of overseas competitors accelerated. With the growth of the Chinese market and the dilution of subsidy policies, the pace of overseas giants entering the Chinese market is accelerating, which has a new impact on the industrial pattern.
