Plate review
Last week’s performance: from February 28 to March 4, most sectors of shenwanyi rose, among which coal and transportation rose the most, with an increase of 10.25% and 3.65% respectively; Automobile, electronic and power equipment fell the most, with declines of 4.47%, 4.26% and 3.54% respectively.
The top ten stocks of the new energy sector that saw the top ten stocks of the new energy sector in the new energy sector last week last week last week are: the Foshan Golden Milky Way Intelligent Equipment Co.Ltd(300619) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\%, Guangdong Guanghua Sci-Tech Co.Ltd(002741) (6.11%), Flat Glass Group Co.Ltd(601865) glass (5.59%), Riyue Heavy Industry Co.Ltd(603218) (5.55%). The ten stocks with the top ten stocks falling in the top ten of the decline are: Suzhou Ta&A Ultra Clean Technology Co.Ltd(300390) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Jiangmen Kanhoo Industry Co.Ltd(300340) (- 12.85%), Shenzhen Kedali Industry Co.Ltd(002850) (- 12.58%), Eve Energy Co.Ltd(300014) (- 12.53%).
Core viewpoints and investment suggestions of new energy vehicles
At the two sessions of the fifth session of the 13th National People’s Congress held on March 5, Premier Li Keqiang proposed to “continue to support the consumption of new energy vehicles” in the government work report. In 2021, China Shanxi Guoxin Energy Corporation Limited(600617) automobile production and sales reached 3.545 million and 3.521 million respectively, an increase of 1.6 times year-on-year, and the market share reached 13.4%, 8 percentage points higher than that of the previous year. In the first two months of 2022, the sales of Shanxi Guoxin Energy Corporation Limited(600617) cars were excellent, with an average increase of more than double. The previously set target of Shanxi Guoxin Energy Corporation Limited(600617) automobile sales accounting for 20% by 2025 is expected to be achieved ahead of schedule.
Since 2022, the state has successively issued a series of policies and measures to vigorously promote new energy vehicles, gradually eliminate the purchase restrictions of new energy vehicles around the country, promote the implementation of supporting policies such as free travel and right of way, and strengthen the construction of supporting infrastructure such as charging and changing electricity, new energy storage and hydrogenation, which has something to do with the new energy vehicles mentioned in the work report again. China’s major new energy vehicle enterprises actively respond to the general trend of new energy, constantly reduce production and operation costs and improve their competitiveness, so as to better occupy the market and provide effective supply. Driven by both policy and supply, we predict that the sales volume of Shanxi Guoxin Energy Corporation Limited(600617) vehicles will reach 5 million by the middle of 2022, and it is expected to reach 8-10 million by 2025. It is expected that the penetration rate of new energy vehicles will steadily exceed 20% in 2022 and exceed 30% by 2025.
Under the current trend of automobile globalization and electrification, the global sales of new energy vehicles are still expected to maintain a rapid growth trend. There are still structural opportunities in the new energy vehicle sector in 2022, and the short-term adjustment may provide a buying opportunity. According to the prediction of the China Travel Association, the global sales volume of new energy vehicles is expected to reach 10 million vehicles in 2022, and China Shipbuilding Industry Group Power Co.Ltd(600482) battery industry chain, as a participant occupying the main share in the world, will fully benefit. Lithium battery industry chain: lithium battery industry chain: lithium battery industry chain: lithium battery industry chain: with the price of raw materials such as lithium ore in the upstream and the price of raw materials such as lithium ore rising continuously, superimposon the demand for downstream new energy vehicles turning for the better. In 2022, the price of power batteries is likely to rise in 2022, as the price of battery batteries will likely rise in 2022, and battery companies are expected to usherin a profitable fix in the hope of battery businesses, and related targets: 3 Beijing Zznode Technologies Co.Ltd(003007) 50\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\35. Suggestions on the layout of leading enterprises in lithium and iron industry and the expansion of lithium related materials: Objects related to negative electrode materials: Shanghai Putailai New Energy Technology Co.Ltd(603659) , beiteri, Ningbo Shanshan Co.Ltd(600884) ; Electrolyte related targets: Guangzhou Tinci Materials Technology Co.Ltd(002709) , Shenzhen Capchem Technology.Ltd(300037) , Shandong Shida Shenghua Chemical Group Company Limite(603026) ; Related objects of diaphragm: Yunnan Energy New Material Co.Ltd(002812) , Shenzhen Senior Technology Material Co.Ltd(300568) ; It is suggested to pay attention to Guangdong Jiayuan Technology Co.Ltd(688388) , Nuode Investment Co.Ltd(600110) . In the field of lithium battery recycling, in the context of the upcoming retirement tide of the power battery recycling industry, it is suggested to pay attention to the enterprises with the advantages of first mover and integration in the fields of power battery recycling and manufacturing, standby power and charge and discharge, and the relevant targets include: Gem Co.Ltd(002340) , Miracle Automation Engineering Co.Ltd(002009) , Contemporary Amperex Technology Co.Limited(300750) , Zhejiang Huayou Cobalt Co.Ltd(603799) , Guangdong Guanghua Sci-Tech Co.Ltd(002741) . The lithium resources sector suggests paying attention to leading companies with high self-sufficiency rate, including: Ganfeng Lithium Co.Ltd(002460) , Tianqi Lithium Corporation(002466) , Jiangxi Special Electric Motor Co.Ltd(002176) , Yongxing Special Materials Technology Co.Ltd(002756) , Sinomine Resource Group Co.Ltd(002738) .
Core viewpoints and investment suggestions of photovoltaic and wind power
At the fifth session of the 13th National People’s Congress held on March 5, Premier Li Keqiang proposed in the government work report that “we will orderly promote the work of carbon peak and carbon neutralization, 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.” In 2021, the installed capacity of renewable energy power generation in China historically exceeded 1 billion kw, the installed capacity of wind power and photovoltaic power generation both exceeded 300 million KW, the installed capacity of offshore wind power ranked first in the world, and the annual power generation capacity of new energy exceeded the 1 trillion kwh mark for the first time. Looking forward to the future, driven by the policies of large base construction and the promotion of the whole county, the cost of superimposed new energy power generation continues to decline, the economy continues to improve, and the penetration rate of photovoltaic and other new energy power generation forms will continue to increase.
Photovoltaic: in the short term, the price of photovoltaic in the middle and upper reaches continued to rise slightly last week, which is mainly due to the lower than expected increase in the expansion of production and release of large Chinese manufacturers and the strong demand in the downstream. It is expected that the overall new supply of Q1 silicon material in 2022 is still insufficient compared with the new demand in the downstream. In the short term, the mismatch between supply and demand of silicon material may be maintained, and the cell link may be in the stage of price game, Downstream component manufacturers and terminals are in a wait-and-see mood. With the subsequent capacity release of silicon material manufacturers, the prices in the middle and upper reaches are expected to decline, driving the downstream installation demand. In addition, with the advantages of small floor area, flexibility and intelligence, distributed PV actively promotes the construction of distributed PV by superimposing the policies of the whole county. Distributed projects still account for a high proportion of new installed capacity in 2022. In the medium and long term, under the background of “double carbon” and the clear goal that the proportion of non fossil energy in primary energy consumption will reach about 20% in 2025, the cost of superimposed photovoltaic power generation continues to decline, the economy continues to improve, the demand for photovoltaic installed capacity is high, and the growth certainty is strong.
Related targets: 1) silicon material leaders Tongwei Co.Ltd(600438) , Xinjiang Daqo New Energy Co.Ltd(688303) , with tight supply and demand pattern and high profitability; 2) Component integrated faucet Longi Green Energy Technology Co.Ltd(601012) , Trina Solar Co.Ltd(688599) , Ja Solar Technology Co.Ltd(002459) ; 3) Inverter taps benefiting from photovoltaic + energy storage dual wheel drive Sungrow Power Supply Co.Ltd(300274) , Ginlong Technologies Co.Ltd(300763) , Jiangsu Goodwe Power Supply Technology Co.Ltd(688390) ; 4) Photovoltaic glass duopoly Flat Glass Group Co.Ltd(601865) and Xinyi solar energy benefiting from the improvement of the permeability of double glass modules; 5) Subject to the short-term supply bottleneck of raw materials and limited market demand, the leading enterprises in EVA film link Hangzhou First Applied Material Co.Ltd(603806) , Shanghai Hiuv New Materials Co.Ltd(688680) ; 6) Zhejiang Chint Electrics Co.Ltd(601877) , Jinko Power Technology Co.Ltd(601778) , benefiting from the increased proportion of distributed photovoltaic.
Wind power: in the short term, in 2022, the wind power industry will expand intensively, the pace of expansion is in a hurry, the trend of large-scale wind turbines is significant, the overall cost of the industry is expected to continue to decline, and the wind power landscape is expected to improve. In the medium and long term, wind power is one of the alternative forms of energy to achieve “carbon neutrality”. The wind power industry has broad prospects and long-term growth space. At the same time, offshore wind power is the key to solve the contradiction between insufficient power generation and power load in the eastern coastal areas. Subject matter with cost advantage and technical core competitiveness: Dajin Heavy Industry Co.Ltd(002487) , Titan Wind Energy (Suzhou) Co.Ltd(002531) , Qingdao Tianneng Heavy Industries Co.Ltd(300569) , Riyue Heavy Industry Co.Ltd(603218) , Ming Yang Smart Energy Group Limited(601615) , Xinjiang Goldwind Science And Technology Co.Ltd(002202) , Sinoma Science & Technology Co.Ltd(002080) , Jinlei Technology Co.Ltd(300443) , etc.
Risk tips
The production and sales of new energy vehicles are lower than expected; The double carbon policy is less than expected; The epidemic development exceeded expectations.
