According to the statistical analysis of China Automobile Industry Association, in November 2021, automobile production and sales continued to decline year-on-year. Although there is great downward pressure, there are still many bright spots in the industry. First, the market demand for new energy vehicles is still strong, and the production and sales continue to reach a new high. The cumulative output has exceeded 3 million, and the sales volume is close to 3 million. The cumulative sales penetration rate from January to November has increased to 12.7%. At present, consumers are more and more receptive to new energy vehicles, and the new energy vehicle market has shifted from policy driven to market driven; Second, in November, automobile exports also continued to maintain high-speed growth year-on-year; Third, the share of Chinese brand passenger cars has maintained growth for 8 consecutive months year-on-year.
Galaxy Securities believes that in 2021, due to the shortage of global automobile chip supply due to epidemic and extreme weather, the terminal production reduction caused by the global automobile chip supply has put the industry into a mismatch state where demand exceeds supply. With the gradual recovery of the supply chain, the total automobile sales will rise slightly year-on-year in 2022, which is expected to reach around 26.5 million vehicles. The penetration rate of new energy vehicles has increased significantly. We expect that the sales volume of Shanxi Guoxin Energy Corporation Limited(600617) vehicles will be around 6.11 million in 2022, and the global sales volume will be close to 12 million.
Citic Securities Company Limited(600030) pointed out that the high-quality models of mainstream automobile enterprises have been launched continuously to improve the industry boom, and the upward trend of the industry is clear. The policy environment in the United States has warmed up, and the local new energy vehicle industry is expected to return to high growth. Tesla is expected to continue to lead the global trend of electrification. The global new energy vehicle industry chain has entered a stage of rapid growth. At the current time, it is recommended to continue to seize the opportunity of high-quality targets in the global electrification supply chain, especially Tesla, Contemporary Amperex Technology Co.Limited(300750) , LG Chemical Supply Chain, including:
1) Contemporary Amperex Technology Co.Limited(300750) , Byd Company Limited(002594) (a + H), Eve Energy Co.Ltd(300014) , Sunwoda Electronic Co.Ltd(300207) , Tongling Jingda Special Magnet Wire Co.Ltd(600577) etc. of battery / motor link; For Shenzhen Dynanonic Co.Ltd(300769) , Cngr Advanced Material Co.Ltd(300919) , Shanghai Putailai New Energy Technology Co.Ltd(603659) , Ningbo Shanshan Co.Ltd(600884) , Hunan Zhongke Electric Co.Ltd(300035) , Shenzhen Capchem Technology.Ltd(300037) , Xiamen Tungsten Co.Ltd(600549) of lithium battery materials, it is recommended to pay attention to Yunnan Energy New Material Co.Ltd(002812) , Shenzhen Kedali Industry Co.Ltd(002850) , Guangzhou Tinci Materials Technology Co.Ltd(002709) ;
2) Upstream equipment and resources: Ganfeng Lithium Co.Ltd(002460) etc., pay attention to Zhejiang Hangke Technology Incorporated Company(688006) , Wuxi Lead Intelligent Equipment Co.Ltd(300450) ;
3) Thermal management supply chain: Zhejiang Sanhua Intelligent Controls Co.Ltd(002050) (thermal management), Zhejiang Yinlun Machinery Co.Ltd(002126) (thermal management), Ningbo Tuopu Group Co.Ltd(601689) etc.
(Securities Times)
