Key investment points
[eight departments: promoting the safe echelon application of waste power batteries in the fields of power backup, charging and replacement] on February 10, the Ministry of industry and information technology and other eight departments issued the implementation plan for accelerating the comprehensive utilization of industrial resources. The scheme proposes to 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.
[the ranking of global power battery enterprises was released and Contemporary Amperex Technology Co.Limited(300750) topped the world for five consecutive years] on February 7, sneresearch, a Korean market research institution, released the ranking of global power battery installed capacity in 2021. In 2021, the installed capacity of global power batteries was 297gwh, with a year-on-year increase of 102%. Among them, Contemporary Amperex Technology Co.Limited(300750) global installed capacity was 97gwh, with a year-on-year increase of 167% and a global market share of 33%, an increase of 8 percentage points over 2020. LG’s new energy installed capacity was 60gwh, with a year-on-year increase of 76% and a market share of 20%, down 3 percentage points from 2020. There are 6 Chinese enterprises and 3 Korean enterprises in the top ten enterprises with installed capacity of power batteries in the world. The global share of Chinese enterprises in 2021 is generally higher than that in 2020.
[the new energy market continues to improve in 2022, and the prices of cobalt and lithium all rise in the first week of the year] [cobalt] according to the data of Shanghai Nonferrous Metals network, on February 11, the mainstream quotation of electrolytic cobalt in China was 508-52000 yuan / ton, and the average price increased by 15000 yuan / ton compared with last week. Cobalt sulfate was reported at 109500-111500 yuan / ton, with the average price rising by 25000 yuan / ton compared with last week. Co3O4 was reported at 406-41000 yuan / ton, with the average price unchanged from last week. In terms of cobalt, affected by the february holiday, the production of cobalt salt plant will be reduced by about 11%, and the supply will continue to be locked. It is expected that the purchasing sentiment will become stronger after the next anniversary, and the prices of electric cobalt and cobalt salt will continue to rise. [lithium] according to the data of Shanghai Nonferrous Metals network, on February 11, the price of metal lithium was 2-2.06 million yuan / ton, with an average price of 100000 yuan / ton higher than last week. The mainstream price of battery grade lithium carbonate was reported at 388000-396000 yuan / ton, and the average price increased by 28000 yuan / ton compared with last week. The quotation of battery grade lithium hydroxide (coarse particle) is 322000-331000 yuan / ton, and the average price is 28000 yuan / ton higher than last week. From February to March, China’s lithium carbonate gap is still obvious. On the supply side, affected by the maintenance of lithium salt enterprises, the supply remained low in February. On the demand side, affected by the reduction of production during the Spring Festival and the shortage of raw materials, China’s cathode materials decreased significantly, resulting in a 6% month on month decrease in the demand for lithium carbonate in February, and the shortage of supply eased slightly, but the market still showed a gap of about 15%, so the price is still rising after the festival. [ternary material] according to the data of Shanghai Nonferrous Metals network, on February 11, the price of ternary material (type 523) was 300000-309000 yuan / ton, and the average price increased by 25000 yuan / ton compared with last week. The quotation of ternary precursor (type 523) is 138000-14000 yuan / ton, and the average price is 5000 yuan / ton higher than last week. Driven by the soaring price of lithium salt, the cost of ternary cathode increased significantly. At this stage, the operating rate of large plants is good, but the overall operating rate of small and medium-sized plants is limited by the lithium salt end. The demand side is still dominated by power. In the future, it is expected that the price will continue to follow the cost and show an upward trend. [lithium iron phosphate cathode] according to the data of Shanghai Nonferrous Metals network, on February 11, the price of lithium iron phosphate (power type) was 135000-14000 yuan / ton, and the average price increased by 6000 yuan / ton compared with last week. The price of lithium iron phosphate (energy storage type) is 13-134000 yuan / ton, with an average price increase of 6000 yuan / ton compared with last week. Key recommendations: Contemporary Amperex Technology Co.Limited(300750) , Yunnan Energy New Material Co.Ltd(002812) , Zhejiang Huayou Cobalt Co.Ltd(603799) . It is recommended to pay active attention to: Shandong Kaisheng New Materials Co.Ltd(301069) , Anhui Estone Materials Technology Co.Ltd(688733) , Zhuhai Cosmx Battery Co.Ltd(688772) , Shan Xi Hua Yang Group New Energy Co.Ltd(600348) , Jiangsu Cnano Technology Co.Ltd(688116) , Shenzhen Dynanonic Co.Ltd(300769) .
[the price of photovoltaic industry chain increased slightly] according to pvinfolink data, on February 9, the mainstream quotation of [silicon material] polysilicon dense material was 238000 yuan / ton, and the average price was the same as that of last week. The demand concentration and amplification effect caused by factors such as goods preparation is gradually returning to the atmosphere of normal supply and reasonable demand. The centralized purchase of silicon materials forced to be enlarged before the holiday has gradually returned to normal. [silicon chip] the mainstream quotation of 166mm monocrystalline silicon chip is 5.280 yuan / PC, with the average price rising by 2.5% compared with last week. The mainstream quotation of 182mm monocrystalline silicon wafer is 6.350 yuan / PC, with the average price rising by 3.3% compared with last week. The mainstream quotation of 210mm monocrystalline silicon chip is 8.450 yuan / PC, with the average price rising by 4.3% compared with last week [battery chip]. The mainstream quotation of 166mm single crystal perc battery is 1.090 yuan / W, and the average price is 0.9% higher than that of last week. The mainstream quotation of 182mm single crystal perc battery is 1.110 yuan / W, and the average price is 0.9% higher than that of last week. The mainstream quotation of 210mm single crystal perc battery is 1.110 yuan / W, with the average price rising by 2.8% compared with last week. Corresponding to the pre holiday price adjustment of RMB 1-2 cents per watt, the subsequent rise has not been stable, and the transaction price continues to rise slightly. [component] the mainstream quotation of 365-375 / 440-450w single crystal perc component is 1.860 yuan / W, and the average price is 0.5% higher than last week. The mainstream quotation of 182mm single crystal perc module is 1.880 yuan / W, and the average price is the same as that of last week. After the festival, the pressure on the component end is constantly superimposed. Due to the rising cost of raw materials such as backplane and glass, the price of auxiliary materials began to rise. In addition, the price rise of the component end is also brewing. However, it is still in the resumption stage this week, and the manufacturers and terminals are still in a wait-and-see attitude. [photovoltaic glass] the mainstream price of 3.2mm coating is 25.0 yuan / m2, and the average price is the same as that of last week. The mainstream quotation of 2.0mm coating is 19.2 yuan / m2, and the average price is the same as last week. Key recommendations: Hangzhou First Applied Material Co.Ltd(603806) , Shanghai Aiko Solar Energy Co.Ltd(600732) , Kbc Corporation Ltd(688598) , Zhejiang Jingsheng Mechanical & Electrical Co.Ltd(300316) , Longi Green Energy Technology Co.Ltd(601012) , Tongwei Co.Ltd(600438) , Xinjiang Daqo New Energy Co.Ltd(688303) . It is recommended to pay active attention to: Shanghai Hiuv New Materials Co.Ltd(688680) , Risen Energy Co.Ltd(300118) , Chengdu Guibao Science & Technology Co.Ltd(300019) , Yangling Metron New Material Co.Ltd(300861) , Levima Advanced Materials Corporation(003022) .
Risk tip: the newly installed capacity of photovoltaic is less than expected, the production and sales of new energy vehicles are less than expected, the sharp fluctuation of raw material prices affects the industry demand, and other unexpected explosion risks.
