Market Review
In the current period (February 14-february 18), the CSI 300 rose 1.1% and the machinery sector rose 2.0%, ranking 13th among the 28 Shenwan industries. In terms of subdivided industries, laser processing equipment increased the most, up 10.9%; Oil and gas equipment fell the most, down 1.5%.
This week’s view
The high outlook of lithium battery equipment continues, and the first quarterly report of key targets is expected to exceed expectations.
In January 2022, the development of new energy vehicles is still accelerating. According to the data of the passenger Federation, in January, the wholesale sales volume of Shanxi Guoxin Energy Corporation Limited(600617) passenger cars was about 412000, with a year-on-year increase of 1.4 times and a penetration rate of 16.6%, an increase of 10 percentage points over the same period last year. In order to meet the needs of automobile OEMs and the first mover advantage of the card track, power battery manufacturers have continued to accelerate the expansion of production and construction. According to the statistics of starting point lithium electric big data, since January, many projects including Contemporary Amperex Technology Co.Limited(300750) , China Innovation airlines, honeycomb energy, ski, Sunwoda Electronic Co.Ltd(300207) , vision power and other enterprises have started, with a total investment of more than 87 billion yuan. Lithium battery equipment is expected to maintain a high boom. According to the data of lithium battery of senior engineering, the market scale of China’s lithium battery equipment will exceed 50 billion yuan in 2021, with a year-on-year increase of nearly 80%; It is expected to further increase by more than 75 billion yuan in 2022, with a year-on-year increase of more than 50%. At the same time, due to the landing of a large number of orders in the industry in 21 years, upstream equipment enterprises actively expand production to cope with delivery, and the cycle from order to revenue recognition is about one year. Therefore, the high performance growth this year is sure to bring support. Pay attention to the order delivery of lithium battery equipment manufacturers and the opportunity of oversold and rebound brought by the high performance increase in the first quarter.
Investment suggestions:
It is recommended that we focus on the strong demand for new energy {68856} and {68859} and {68856} and {6899} for long-term, and recommend {68856} and {68859} for lithium.
Risk tips
Macroeconomic fluctuations, external demand fluctuations.
