On February 10, the Shanghai stock index was dominated by shock consolidation in the morning. The "first brother of gem" Contemporary Amperex Technology Co.Limited(300750) once fell nearly 9%, and the intraday stock price once approached the 500 yuan mark. As of the close, Contemporary Amperex Technology Co.Limited(300750) decline narrowed to 5.32% and closed at 518.1 yuan / share. So far, "ningwang" has fallen 25.13% from the historical high of 692 yuan last year, making investors shout: "the once king is no longer elegant."
( Contemporary Amperex Technology Co.Limited(300750) fell sharply, leading to hot discussion among investors)
the share price of "ningwang" fell continuously, and the capital flowed out sharply
It is worth noting that with the sharp decline, foreign capital and financing funds are also selling Contemporary Amperex Technology Co.Limited(300750) . According to the data, on February 9, northbound capital traded a net purchase of 484 million yuan, Contemporary Amperex Technology Co.Limited(300750) traded 2.327 billion yuan throughout the day, and was sold a net sale of 41 million yuan, the fifth consecutive trading day. During this period, the stock traded a total of 15.377 billion yuan in Shenzhen Stock connect, with a total net sale of 2.662 billion yuan.
At the same time, the data show that the balance of two financing on February 9 of Contemporary Amperex Technology Co.Limited(300750) was 8.811 billion yuan, of which the balance of financing was 7.555 billion yuan. The balance of financing in recent 10 trading days decreased by 663 million yuan, or 8.07%.
However, the poster news reporter noted that although the stock price has fallen all the way, the recent attitude of institutions towards Contemporary Amperex Technology Co.Limited(300750) is still bullish, and the company's operating performance is also significantly deviated from the stock price.
According to the reporter's statistics, since 2022, a total of 10 institutions have given the company buy rating, and the highest target price is expected to rise to more than 900 yuan.
In fact, there is also a certain factual basis for the bullishness of institutions, Contemporary Amperex Technology Co.Limited(300750) announced on January 27 that the net profit in 2021 is expected to be 14 billion yuan ~ 16.5 billion yuan, with a year-on-year increase of 150.75% ~ 195.52%; The net profit increased by 181% ~ 228% in advance after deduction of non-profit; Far exceeding the general expectations of previous institutions.
(2021 Contemporary Amperex Technology Co.Limited(300750) performance forecast)
In addition, from the perspective of institutional shareholding, by the end of 2021, the fund's shareholding had reached 259 million shares, which remained near an all-time high, more than doubled from 111 million shares in early 2020.
From the performance of the company in recent years, it has maintained a high performance growth rate. In addition, the current support for the development of new energy vehicles is still strong, which further boosted investors' expectations for the future development of the company.
if high growth is realized, the share price will fall?
So, in the absence of obvious bad news, what is the reason for the continuous decline of "ningwang"? The saying of "Curse of 10 times increase in two years" is quietly rising.
From the stock price trend of many stocks, the market speculation is often the high growth expectation of the company. Once the expectation is fulfilled, the stock price may not reach a new high again.
Take Cosco Shipping Holdings Co.Ltd(601919) as an example, the company's share price rose from the lowest point of 2.5 yuan in May 2020 to 25 yuan in July 2021. It took only more than a year for the share price to rise more than 10 times. Although the company's performance exploded in 2021, the company's share price did not return to the previous high.
( Contemporary Amperex Technology Co.Limited(300750) share price rose more than 10 times in two years)
Although the company's stock price has increased by less than 690 yuan since its launch in October 2019, its performance is still less than 690 yuan, which is the same as that of October 2021. Although the company's stock price has increased by less than 690 yuan since its launch in October 2019, its performance is still the largest.
the declining impact of subsidies for new energy vehicles is becoming more and more obvious
In addition, the impact of declining subsidies for new energy vehicles also worries the market. According to the national subsidy policy, from 2020 to 2022, the subsidy standard will decline by 10%, 20% and 30% respectively on the basis of the previous year, that is, the subsidy in 2022 will be 30% lower than that in 2021.
In this context, up to now, a number of new energy vehicle models have announced price increases. For example, the prices of Tesla's domestic model 3 and model y rear wheel drive models are 265700 yuan and 301800 yuan respectively, up 10000 yuan and 21000 yuan respectively; Part u models of Nezha automobile will be increased by 3000-5000 yuan, and Part V models of Nezha automobile will be increased by 2000 yuan; GAC ea'an LX increased by 4000 yuan, and the new aion s plus increased by more than 7000 yuan compared with 2021.
However, on the whole, it is generally believed that the new energy vehicle market will maintain a high growth trend in 2022. Yingda Securities believes that the new energy vehicle market has changed from policy driven to market driven, and the decline of subsidies has a limited impact on the overall market growth of new energy vehicles.
