Weekly summary
Industry data
Lithium battery: lithium carbonate 495000 yuan / ton (5.77%); The ternary 622 precursor is 157800 yuan / ton (0.48%), and the lithium iron phosphate precursor is 23500 yuan / ton (0%); RMB 362500 yuan / ton (0.83%); RMB 150000 / ton of artificial graphite; nine μ M wet base film 1.42 yuan / m2 (0%); Lithium hexafluorophosphate 550000 yuan / ton (6.78%).
Photovoltaic: special grade dense silicon 249 yuan / kg (0.4%); Single crystal 166 silicon wafer 5.5 yuan / wafer (0.92%); Single crystal perc166 cell 1.11 yuan / w (0.91%); Single crystal perc module 1.85 yuan / w (0%); Coated glass 3.2mm26 yuan / m2 (4.0%); EVA adhesive film 13.5 yuan / m2 (0%).
Investment advice
In terms of new energy vehicles, 1) the Ministry of industry and information technology raised the price of lithium carbonate; 2) Country garden layout sodium ion battery; 3) Tesla signs another 110000 ton lithium purchase order; 4) Northvolt invested and built 150000 ton cathode project; 5) China Innovation airlines established three new companies with 3.4 billion yuan. In terms of new energy power generation, 1) the government work report is published to indicate the direction of China’s energy development; 2) 51gw of wind power and 32.6gw of photovoltaic power will be added in the 14th five year plan of Inner Mongolia; 3) Ministry of industry and information technology: increase the supply of photovoltaic, fan and other equipment; 4) Germany accelerates the achievement of renewable energy goals.
Investment strategy: the two sessions were successfully held, and the government work report released a positive signal: promote green and low-carbon development, orderly promote carbon peaking and carbon neutralization, implement the carbon peaking action plan, promote the energy revolution, ensure energy supply, promote the planning and construction of large-scale wind and solar power bases and their supporting adjustable power sources, and improve the consumption capacity of the power grid for renewable energy power generation. Stimulated by the policy, the valuation of the new energy sector is expected to hit the bottom and rebound. From the perspective of short-term game, 1) photovoltaic: the international situation is turbulent, the war between Russia and Ukraine is escalating, getting rid of the constraints on traditional resources such as oil and natural gas, and the value of new energy is prominent. In 2022, the photovoltaic industry will embrace the silicon material price reduction cycle, and the industrial chain price will gradually return to a reasonable range. It is suggested to grasp the three main lines of “inverter, integration and auxiliary materials”, and recommend Longi Green Energy Technology Co.Ltd(601012) , Ja Solar Technology Co.Ltd(002459) , Sungrow Power Supply Co.Ltd(300274) , Xinjiang Daqo New Energy Co.Ltd(688303) , etc. 2) Energy storage: a key link in energy transformation. Pylon Technologies Co.Ltd(688063) , Ginlong Technologies Co.Ltd(300763) , Hemai, etc. are recommended. From the perspective of long-term value, 1) lithium battery: it is expected that electric vehicles will maintain a high popularity in 2022, thus stimulating the demand for lithium battery. Battery leaders Contemporary Amperex Technology Co.Limited(300750) , Eve Energy Co.Ltd(300014) , etc. are recommended; It is suggested to grasp two main lines in the material link: expand new customers overseas, recommend Beijing Easpring Material Technology Co.Ltd(300073) , Cngr Advanced Material Co.Ltd(300919) , Shenzhen Kedali Industry Co.Ltd(002850) , etc; Tight supply and demand, strong bargaining power, recommended Yunnan Energy New Material Co.Ltd(002812) , Shenzhen Dynanonic Co.Ltd(300769) , Ningbo Shanshan Co.Ltd(600884) , Hunan Zhongke Electric Co.Ltd(300035) , etc. 2) Power grid: under the background of “steady growth”, in line with the great development of new energy, the power grid has ushered in a golden development period. The new infrastructure of electric power will advance steadily, and the digital transformation of power grid will deeply embrace new technologies and models. Recommend leaders State Grid Information&Communication Co.Ltd(600131) and Nari Technology Co.Ltd(600406) in the field of informatization and automation. project
Market trend
Dianxin index rose by – 2.10%, ranking 22nd in the industry. Since the beginning of the year, the absolute return of Galaxy stock pool has been – 15%, and the relative return has been – 2.94%.
