Today (February 11) A-share shock callback, the Shanghai index rose and fell, and the gem index led the decline. On the disk, in terms of industries, insurance, energy metals, coal, banking and other industries rose against the market; Traditional Chinese medicine, auto parts, power grid equipment, power supply, social security, games and other industries led the decline. In terms of theme stocks, digital currency, lithium extraction from Salt Lake and power battery recycling rose slightly, while covid-19 drugs, traditional Chinese medicine, GM, cloud games, e-cigarettes and chicken concept led the decline.
Contemporary Amperex Technology Co.Limited(300750) fell more than 5% and fell behind the 500 yuan mark. Has it fallen nearly 30% since the historical high?
Contemporary Amperex Technology Co.Limited(300750) (300750) dived again on the 11th. As of press time, the stock fell more than 5% and fell below the integer level of 500 yuan. Since the opening of the market in the year of the tiger (February 7), the stock has fallen by about 17% in five trading days; Since the record high on December 2, 2021, the stock has fallen by about 27%.
Continuous adjustment, Contemporary Amperex Technology Co.Limited(300750) fell in place? Capital Securities pointed out that compared with the sharp adjustment of Mao index after the Spring Festival in 2021, overvalued conglomerates seem to step into the same river again. After the catalyst of the rising logic wavered, the overvalued conglomerates faced the dilemma of killing more, Contemporary Amperex Technology Co.Limited(300750) may not have a bottom in the short term.
Of course, some institutions are still firmly optimistic about Contemporary Amperex Technology Co.Limited(300750) . China Merchants Securities Co.Ltd(600999) pointed out that in the global market, the company’s power battery industry has a solid position, the energy storage field has begun to make efforts, is entering the leading stage from catching up, and has been shaping a large industrial cluster with outstanding global advantages. The company is in the stage of global expansion with a strong balance sheet. With the company’s strict accounting and financial policies (such as depreciation and after-sales service fees), the profit margin is expected to remain stable in the future. Maintain the “strongly recommended – a” rating and target price of 680-740 yuan.
power battery recycling policy supports the 100 billion market is about to break out?
On February 11, the power battery recovery disk rose abnormally, Guangdong Dcenti Auto-Parts Stock Limited Company(603335) rose by the limit, Anhui Chaoyue Environmental Protection Technology Co.Ltd(301049) , Tianqi Lithium Corporation(002466) , Cngr Advanced Material Co.Ltd(300919) and other stocks followed suit. In terms of news, recently, eight departments including the Ministry of industry and information technology, the national development and Reform Commission and the Ministry of Finance issued a notice on accelerating the implementation plan of promoting the comprehensive utilization of industrial resources. The notice proposes to improve the management system and strengthen the whole life cycle traceability management of power batteries of new energy vehicles. Promote cooperation between upstream and downstream of the industrial chain to jointly build recycling channels and build a cross regional recycling system. Promote the safe echelon application of waste power batteries in the fields of power backup, charging and replacement. Build a number of echelon and recycling demonstration projects in key areas such as Beijing Tianjin Hebei, the Yangtze River Delta, Guangdong, Hong Kong and Macao Bay area. Cultivate a number of echelon and recycling backbone enterprises, and strengthen the R & D and promotion of technologies such as nondestructive testing of power batteries, automatic disassembly and efficient extraction of valuable metals.
According to the data of China Automotive Technology Research Center, the number of Shanxi Guoxin Energy Corporation Limited(600617) vehicles has reached 4.92 million in 2020, and 200000 tons (about 25gwh) of power batteries have been retired. In 2025, the capacity of waste power batteries to be recycled in China is expected to reach 137.4gwh, five times higher than that in 2020.
Caixin Securities pointed out that the regulatory policies on power battery recycling have been issued one after another, the requirements for recycling enterprises are being supplemented and improved, and the relevant responsibilities of enterprises in all links of the industrial chain are gradually clarified. At the same time, the formulation of power battery recycling standards will be accelerated, and the battery recycling standards in relevant subdivided fields will be gradually expanded in the future, so as to further promote the standardized development of the industry. The power battery recycling and regeneration market is about to expand.
the real estate market welcomes another important adjustment, and the valuation of relevant concept stocks is expected to be repaired
On February 11, the real estate sector opened significantly higher, Tahoe Group Co.Ltd(000732) , Shenzhen New Nanshan Holding (Group) Co.Ltd(002314) , Rongan Property Co.Ltd(000517) and other seven stocks rose by the limit, and many stocks such as Jinke Property Group Co.Ltd(000656) , Seazen Holdings Co.Ltd(601155) , Macrolink Culturaltainment Development Co.Ltd(000620) led the increase. Chen Wenjing, deputy director of the index division of China Index Research Institute, believes that under the current situation of great pressure from local governments on “guaranteed delivery buildings” and limited use of pre-sale funds by enterprises, the introduction of this national new regulation on pre-sale funds is conducive to guiding local “guaranteed delivery buildings”, alleviating the current financial pressure of enterprises and improving the efficiency of the use of pre-sale funds, In essence, safeguarding the legitimate rights and interests of property buyers is also conducive to opening up the recycling of funds and promoting a virtuous circle in the real estate industry.
Guotai Junan Securities Co.Ltd(601211) pointed out that the policy relaxation gradually spilled over to high-quality private enterprises, the survival probability increased significantly, and the valuation repair will be ushered in, with a range of about 100%. In contrast to state-owned enterprises, the valuation repair space of private enterprises has expanded from mid-2021 to the near future, reflecting the market’s concern about private enterprise default in the second half of 2021. However, recently, the open market financing of some high-quality private enterprises has resumed, the central bank has corrected the deviation of financial institutions, and mergers and acquisitions have been gradually active. It is not ruled out that there are still thunder storms in the tail of private enterprises, but the survival probability of high-quality private enterprises has increased significantly, and the valuation repair is imminent.
the coal concept continued to strengthen after the festival. The organization said that the sector was at the expected bottom
On February 11, the coal concept rose sharply again, Dongguan Winnerway Industry Zone Ltd(000573) limit, and Yankuang energy, Xinjiang Zhongtai Chenical Co.Ltd(002092) , Pingdingshan Tianan Coal Mining Co.Ltd(601666) , Jinneng Holding Shanxi Coal Industry Co.Ltd(601001) , Shanxi Coking Coal Energy Group Co.Ltd(000983) and other stocks led the rise. According to the WeChat official account of the NDRC, in February 9th, the national development and Reform Commission and the National Energy Bureau jointly held a meeting to arrange for the deployment to continue to do a good job in stabilizing the coal market prices, and to remind the enterprises with high prices of some coal prices found by the monitoring, and demanded that nuclear investigation and rectification be carried out.
Guotai Junan Securities Co.Ltd(601211) believes that the cold spring and steady economic growth will increase the demand for coal and electricity; In addition, Indonesia raised the benchmark coal price in February, resulting in the import coal price higher than that of China. The subsequent import coal supply is expected to be limited, which will form a certain support for China’s coal price.
In terms of investment strategy, the agency pointed out that the investment in coal stocks in 2022 should not be too tangled with coal prices, explore alpha opportunities, and have more room for increasing holdings with high dividend + transformation. At present, the coal sector is at the expected bottom, and the valuation is obviously low. With the improvement of the benchmark of power coal long-term association and the expected high price of coking coal long-term association, high-quality resource enterprises have long-term value, transformation enterprises have growth space, and the improvement of sector valuation is started. 1) the main line of the whole year: high dividend, green power transformation and growth coal chemical industry; 2) Recommend enterprises with high-quality resources.
Zhongtai Securities Co.Ltd(600918) believes that in the medium and long term, under the background of lack of planned investment, the constraints on the coal supply side are strong. Under the background of small annual growth in demand, coal will be a scarce resource in the next few years, and the stock capacity or high profits. The increase of the benchmark price of the annual long-term association also ensures the ability of the industry to continue to make high profits. Under the dual carbon goal, Coal enterprises urgently need transformation. Power investment energy, Yankuang, Shenhua, Gansu Jingyuan Coal Industry And Electricity Power Co.Ltd(000552) , Shanxi Meijin Energy Co.Ltd(000723) and other major forces are in the direction of new energy operation and hydrogen energy. The coal industry has the advantages of strong cash flow and rich land resources in new energy operation, and has the ability and desire, The transformation in the direction of new energy is conducive to improving the valuation level of the overall sector (the current PE valuation is 5-6 times). Coal assets need to be repriced and continue to be optimistic about the investment value of the sector.
the policy continues to increase the popularity of digital currency concept stocks without reducing the five main lines
On Friday afternoon, digital currency concept stocks rose sharply, Beijing Advanced Digital Technology Co.Ltd(300541) , Shenzhen Forms Syntron Information Co.Ltd(300468) 20% limit, Wuhan Tianyu Information Industry Co.Ltd(300205) , Guangzhou Kingteller Technology Co.Ltd(002177) , Hengbao Co.Ltd(002104) , Chutian Dragon Co.Ltd(003040) and other stocks. In terms of news, on February 11, the general office of the Beijing Municipal People’s government issued a notice on three lists, including the list of policies on promoting the high-quality development of Beijing Sub Center. It is pointed out that the people’s Bank of China should strive for the introduction of supporting policies to promote the pilot of legal digital currency in urban sub centers. We will build a pilot area for legal digital currency and a digital financial system, and actively attract large banks and other entities to set up digital RMB operating entities according to law.
Anxin securities research report pointed out that the standard development is expected to speed up and lay the foundation for large-scale promotion. The promulgation of the plan puts forward new requirements for the standard development of digital RMB. Standard setting is an important link in industrial development. A unified digital RMB infrastructure, issuance and circulation return process and terminal acceptance environment will become the preconditions for the large-scale promotion of digital RMB. The unification of standards will lay a solid foundation for the deepening of digital RMB application scenarios and the expansion of application fields in the future.
The research report pointed out that the digital RMB industry chain mainly includes five types of enterprises. It is suggested to pay attention to the investment opportunities of relevant listed companies: (1) financial machinery enterprises: Grg Banking Equipment Co.Ltd(002152) , Newland Digital Technology Co.Ltd(000997) , Xgd Inc(300130) , Shanghai Guao Electronic Technology Co.Ltd(300551) ; (2) Bank IT enterprises: Digital China Information Service Company Ltd(000555) , Shenzhen Sunline Tech Co.Ltd(300348) , Yusys Technologies Co.Ltd(300674) , Client Service International Inc(300663) , Northking Information Technology Co.Ltd(002987) ; (3) Payment institution: Lakala Payment Co.Ltd(300773) ; (4) Encryption algorithm enterprise: Beijing Certificate Authority Co.Ltd(300579) , Koal Software Co.Ltd(603232) , Beijing Infosec Technologies Co.Ltd(688201) ; (5) Application scenario: Enterprise: Zhejiang Zhengyuan Zhihui Technology Co.Ltd(300645) , Newcapec Electronics Co.Ltd(300248) .
rare earth market price index is rising, and industry leaders are expected to fully benefit
According to the monitoring of business agency, the price index of China’s rare earth market is rising, and the price trend of China’s metal neodymium, neodymium oxide, praseodymium oxide, metal praseodymium, praseodymium neodymium alloy and praseodymium neodymium oxide is rising sharply. As of the 10th, the price of neodymium oxide in rare earths in China was 1.13 million yuan / ton; The price of neodymium is 1355000 yuan / ton; The price of praseodymium oxide is 970000 yuan / ton; The price of praseodymium neodymium oxide is 1.01 million yuan / ton; The price of praseodymium neodymium alloy is 1235000 yuan / ton; The price of metal praseodymium is 1.3 million yuan / ton, and the trend of China’s rare earth market continues to rise.
With the sustainable development of new energy vehicles, wind power and variable frequency air conditioning in the downstream of rare earth, the demand continues. In addition, China’s rare earth supply is still tight and the inventory continues to decline. Recently, the on-site transaction market is good, but the on-site supply is still tight and the demand outside China continues to rise, Chen Ling, an analyst at business society, expects that the price trend of rare earth market may continue to rise in the later stage.
Sinolink Securities Co.Ltd(600109) believes that according to the calculation that the first batch of indicators accounted for half of the whole year in 21 years, China’s overall rare earth mining index is expected to be more than 200000 tons in 22 years, with a year-on-year increase of about 20%, which is in line with the market’s expectation of an annual increase of 20% in supply. It is estimated that the global supply shortage of praseodymium and neodymium oxide will be 12000 tons and 19000 tons respectively in 22-23 years. The rapid development of global new energy vehicles, wind power and other fields has driven the demand for NdFeB permanent magnet to increase. It is expected that the demand for praseodymium and neodymium oxide will maintain a growth rate of more than 20% in 22-23 years. China’s supply is controlled by indicators, while the construction cycle of overseas new projects is long, and it is difficult to increase in the short term of 2-3 years. Therefore, the industry is expected to maintain a tight balance in 22 years. Stimulated by the release of the first mining indicators during the year, it is expected that the subsequent prices are easy to rise but difficult to fall.
In recent years, rare earth has benefited from the continuous growth of the demand for permanent magnet materials in the fields of new energy vehicles, wind power and variable frequency air conditioning. The superposition supply side is limited by the capacity index, the supply and demand structure is expected to be continuously optimized, and the industry leaders are expected to fully benefit. Sinolink Securities Co.Ltd(600109) it is suggested to pay attention to the relevant targets of the upstream mineral resources of rare earth, which are China Northern Rare Earth (Group) High-Tech Co.Ltd(600111) , China Minmetals Rare Earth Co.Ltd(000831) , Inner Mongolia Baotou Steel Union Co.Ltd(600010) in turn; At the same time, it is suggested to pay attention to the magnetic material stocks Ningbo Yunsheng Co.Ltd(600366) , Jl Mag Rare-Earth Co.Ltd(300748) , Beijing Zhong Ke San Huan High-Tech Co.Ltd(000970) , Earth-Panda Advanced Magnetic Material Co.Ltd(688077) benefiting from the industrial chain.
