Overall: last week (20214-20220), the CSI 300 rose or fell by + 1.08%, the growth enterprise market rose or fell by + 2.93%, and the automotive industry rose or fell by + 2.07%, ranking 10th in 30 industries at the first level of CITIC.
Industry segments: passenger cars ranked first with a weekly increase or decrease of + 2.96%, and truck industry ranked last with a weekly increase or decrease of – 1.19%.
Concept sector: lithium battery and Contemporary Amperex Technology Co.Limited(300750) industry chain index ranked first with weekly increases and decreases of + 5.22% and + 5.18% respectively, and smart parking and automotive aftermarket industries ranked last with weekly increases and decreases of + 0.63% and + 1.05% respectively.
Individual stocks: 135 stocks in the automotive industry (CITIC) achieved positive returns last week (20214-20220). Among them, Dynavolt Renewable Energy Technology (Henan) Co.Ltd(002684) ranked first with an increase or decrease of + 17.91%, and Senci Electric Machinery Co.Ltd(603109) ranked last with an increase or decrease of – 6.82%.
Valuation: as of February 18, 2022, the PE (TTM) of the automotive industry (CITIC class I) was 39.51 and the PE (TTM) of new energy vehicles was 60.40.
Industry highlights
1) Contemporary Amperex Technology Co.Limited(300750) : the case has been reported to the public security organ on Internet rumors;
2) the price of battery grade lithium carbonate reaches 400000 yuan / ton;
3) the team of Chinese Academy of Sciences found super large lithium ore in the Himalayas, which is difficult to mine;
4) Enjie, Yiwei and others plan to invest 51.7 billion yuan in Yuxi battery industry chain.
Investment advice
In terms of industry, in January 2022, a total of 2.186 million passenger cars were sold, with a month on month decrease of 9.7% and a year-on-year increase of 6.7%. In January, the production and sales of new energy vehicles decreased month on month, and continued to maintain high-speed growth year-on-year. Reached 452000 and 431000 respectively, down 12.6% and 18.6% month on month, with a year-on-year increase of 1.3 times and 1.4 times. Among the main varieties of new energy vehicles, compared with last month, the production and sales of pure electric vehicles decreased, and plug-in hybrid vehicles increased slightly. In the market, due to the continuous rise in the quotation of some lithium battery materials, track stocks continued to pick up. In the near future, it is suggested to pay attention to lithium battery raw materials, the recovery of passenger vehicle enterprises greatly affected by chips in the early stage, and core parts enterprises, such as: Ganfeng Lithium Co.Ltd(002460) , Zhejiang Huayou Cobalt Co.Ltd(603799) , Guangzhou Automobile Group Co.Ltd(601238) , Saic Motor Corporation Limited(600104) , Huayu Automotive Systems Company Limited(600741) , Weichai Power Co.Ltd(000338) , Anhui Zhongding Sealing Parts Co.Ltd(000887) , Xiamen Faratronic Co.Ltd(600563) , Wuxi Lead Intelligent Equipment Co.Ltd(300450) , Avic Jonhon Optronic Technology Co.Ltd(002179) .
Risk tips
Economic growth is lower than expected; Car sales are less than expected; Covid-19 pneumonia continued to spread.
