Industry investment strategy
New energy vehicles: on the raw material side, sqm expects to produce 140000 tons of LCE in 22 years, and the capacity planning is optimistic. Core and Tesla have reached an agreement to supply 110000 tons of lithium concentrate in 4 years; At the positive material end, Xtc New Energy Materials(Xiamen) Co.Ltd(688778) plans to raise 3.5 billion yuan to build 30000 tons of positive material and battery end. Ningde denies to reduce the production schedule of some iron lithium manufacturers in March. At the sales end, it is expected that the sales volume in the United States in February will be 70000, with a month on month increase of 11% and a new high penetration rate of 6.4%. Recommendations focus on low valuatvaluation, low valuation, and high performance certainty Yunnan Energy New Material Co.Ltd(002812) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ etc.
Photovoltaic wind power: in the 2022 government work report, it is proposed to orderly promote carbon peaking and carbon neutralization and implement the carbon peaking action plan. Adhere to the overall plan of building first and then breaking down, and promote the low-carbon transformation of energy. Promote the planning and construction of large-scale wind and solar power bases and their supporting regulatory power sources, and improve the consumption capacity of the power grid for renewable energy power generation. With the continuous promotion of the dual carbon goal, we expect photovoltaic and wind power to usher in a long-term business cycle, and the demand for power grid transformation will continue to release. Among the recommended marks: followingthe following: 601 Longi Green Energy Technology Co.Ltd(601012) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\, Arctech Solar Holding Co.Ltd(688408) etc.
Power equipment: the government work report proposes to promote the planning and construction of large-scale wind and solar power bases and their supporting regulatory power sources, and improve the consumption capacity of the power grid for renewable energy power generation. Previously, there was news that the national energy administration was arranging the planning of the next batch of large base projects, with a total amount of 455 million KW. The above plan proposes to build about 200 million kilowatts during the 14th Five Year Plan period, including 150 million kilowatts for external transmission and 50 million kilowatts for self use; About 255 million kilowatts will be built during the Tenth Five Year Plan period, including 165 million kilowatts for external transmission and 90 million kilowatts for self use. A total of 140 million kilowatts for self use and 315 million kilowatts for external transmission, accounting for 69%. We believe that the UHV projects in the 14th five year plan and the 15th five year plan are likely to continue to exceed expectations. Beneficiary objects: Nari Technology Co.Ltd(600406) , Xj Electric Co.Ltd(000400) , Xi’An Peri Power Semiconductor Converting Technology Co.Ltd(300831) , Zhuzhou Crrc Times Electric Co.Ltd(688187) (covered by mechanical group), etc.
Industrial control: in February, China’s manufacturing PMI index was 50.2%, up 0.1pct from the previous value of 50.1%. The PMI index of non manufacturing industry was 51.6%, up 0.5pct from the previous value of 51.1%. The comprehensive PMI index was 51.2%, up 0.2pct from the previous value of 51%. The three indexes are rising, indicating that the prosperity level of China’s manufacturing industry is rising steadily. In terms of classification, the price index increased significantly, rising for two consecutive months. The purchase price index and ex factory price index of main raw materials were 60.0% and 54.1% respectively, up 3.6pct and 3.2pct from the previous value; The market demand of manufacturing industry has warmed up, and the new order index was 50.7%, with a chain comparison of + 1.4pct, returning to the expansion range; The manufacturing production index was 50.4%, with a month on month ratio of -0.5pct; The growth rate of most manufacturing industries increased, among which the PMI of high-tech manufacturing and equipment manufacturing were 53.1% and 51.4% respectively, up 1.2pct and 1.1pct from the previous month. After the Spring Festival, the production and operation activities of the manufacturing industry gradually resume, and the market expectation is expected to further improve. It is suggested to continue to pay attention to the targets such as Hongfa Technology Co.Ltd(600885) , Shenzhen Inovance Technology Co.Ltd(300124) (machinery), Shenzhen Megmeet Electrical Co.Ltd(002851) (small and medium-sized) and so on.
