Core view
Market review: last week, the power equipment sector closed at 10265.7 points, down 2.7%. The Shanghai Composite Index closed at 3462.9 points, up 101.51 points; Shenzhen Component Index closed at 13224.4 points, down 0.8%; Gem closed at 2746.4 points, down 5.6%. Among the sub sectors of electrical equipment, industrial control automation was the same as last week, with power generation equipment down 8.4%, new energy vehicles down 2.2% and lithium batteries down 2.2%. In terms of individual stocks, the top five gainers were Jiangxi Special Electric Motor Co.Ltd(002176) up 18.74%, Chongqing Wanli New Energy Co.Ltd(600847) up 14.94%, Farasis Energy (Gan Zhou) Co.Ltd(688567) up 12.95%, Guizhou Zhenhua E-Chem Inc(688707) up 10.60%, Hangzhou Weiguang Electronic Co.Ltd(002801) up 9.89%.
Price tracking of industrial chain: in the lithium battery market, the price of lithium series products continues to rise, and the market sentiment of cathode materials is high. The price of lithium hydroxide was 327500 yuan / ton, up 28500 yuan / ton from last week. The price of lithium carbonate was 385000 yuan / ton, up 30000 yuan / ton from last week. The price of lithium phosphate (power) was 140000 yuan / ton last week, up from 100000 yuan / ton last week. The price of electrolytic cobalt was 511000 yuan / ton, an increase of 6000 yuan / ton compared with last week.
Industry focus: in terms of new energy vehicles, Tesla recalled for the tenth time in nearly four months; Renault cooperates with Valeo to develop the next generation motor; The total sales volume of Geely Automobile in January reached 146000, and the sales volume of pure electric vehicles increased by 641% year-on-year; Global electric vehicle battery installed capacity in 2021: Contemporary Amperex Technology Co.Limited(300750) five consecutive titles; Volkswagen limits the number of ID series models ordered by dealers due to lack of core.
Attention of the company’s announcement: Sunwoda Electronic Co.Ltd(300207) : the number of class II restricted shares to be granted to incentive objects by the company is 8.59 million; Guangdong Fangyuan Environment Co.Ltd(688148) : the company and its holding subsidiaries intend to apply to the bank for a comprehensive credit line of no more than RMB 2.7 billion; Contemporary Amperex Technology Co.Limited(300750) five consecutive titles; Hunan Changyuan Lico Co.Ltd(688779) : Hunan Changyuan Lico Co.Ltd(688779) and its subsidiaries have received a total government subsidy of RMB 112 million since February 7, 2022.
Investment suggestions: the sector will be adjusted in a short term. The fundamentals of the new energy vehicle industry will continue to improve in 2022. We continue to be optimistic about the annual investment opportunities of the lithium new energy vehicle sector. At present, it is suggested to focus on the energy storage sector and Shenzhen Desay Battery Technology Co.Ltd(000049) (energy storage system suppliers, strategic layout of energy storage cells and Realization of industrial chain integration).
Risk warning: the sales of new products are less than expected; The Sino US trade war intensified; Industry competition intensifies risks.
