New energy vehicles: Recently, some auto enterprises have successively announced the delivery data in February, of which Byd Company Limited(002594) sales volume was 88283, with a year-on-year increase of 752.6% and a month on month decrease of 5.2%; Xiaopeng delivered 6225 vehicles, down 51.8% month on month; Weilai delivered 6131 vehicles, down 36.5% month on month; The ideal delivery was 8414 vehicles, down 31.4% month on month. At the policy level, the government work report proposed to “continue to support the consumption of new energy vehicles”. At the same time, the Minister of industry and information technology said that the sales of new energy vehicles this year may significantly exceed expectations. We expect that the performance of the industrial chain in the first quarter is expected to maintain a high year-on-year increase. It is suggested to pay attention to high nickel ternary, negative electrode and other links.
Recommendations: Ningbo Shanshan Co.Ltd(600884) , Cngr Advanced Material Co.Ltd(300919) , Anhui Estone Materials Technology Co.Ltd(688733) , Beijing Easpring Material Technology Co.Ltd(300073) , Contemporary Amperex Technology Co.Limited(300750) , Yunnan Energy New Material Co.Ltd(002812) , Eve Energy Co.Ltd(300014)
New energy power generation: the German Ministry of economy has proposed a draft to be legislated, which plans to accelerate the expansion of wind energy and Cecep Solar Energy Co.Ltd(000591) infrastructure, and achieve the goal of 100% renewable energy power supply 15 years ahead of schedule (to 2035). We believe that the trend of vigorous development of wind power and photovoltaic will remain unchanged in 2022. We suggest paying attention to the demand growth of diamond line driven by the production period of photovoltaic silicon material.
Recommended: Yangling Metron New Material Co.Ltd(300861) , Longi Green Energy Technology Co.Ltd(601012) , Ja Solar Technology Co.Ltd(002459) , Tongwei Co.Ltd(600438) , Cybrid Technologies Inc(603212)
Industry trends:
New energy vehicles: Recently, there are market rumors that Contemporary Amperex Technology Co.Limited(300750) and some lithium iron phosphate manufacturers have lowered their production schedule in March Contemporary Amperex Technology Co.Limited(300750) responded that the news was untrue.
New energy power generation: the National Energy Administration issued the reply letters to the CPPCC proposal on accelerating the adjustment of energy structure and the proposal on accelerating the transformation and upgrading of power equipment and helping to achieve the goal of carbon peak and carbon neutrality: adhere to the simultaneous development of centralized and distributed power generation, and vigorously develop wind power and Cecep Solar Energy Co.Ltd(000591) power generation, In 2030, the total installed capacity will reach more than 1.2 billion kw, and strive to reach about 20% of non fossil energy consumption in primary energy consumption in 2025 and about 25% in 2030.
Risk factors: the downstream demand is less than the expected risk; Risk of technical route change; Price fluctuation risk of raw materials; Market competition intensifies risks; International trade risks, etc.
