Comments on the communication industry: the penetration rate of new energy vehicles increased in February, and we are optimistic about the acceleration of intelligent Internet connection

In February, the year-on-year performance of passenger car production, wholesale and retail sales was relatively bright. According to the data of the passenger Federation, the production, wholesale and retail sales of narrow passenger cars in February reached 149.2/145.51246000 respectively, with a year-on-year increase of + 31.4% / + 26.9% / + 37.2% and a month-on-month decrease of – 27.0% / – 32.6% / – 40.0% respectively, which is mainly due to the comprehensive impact of New Year holidays and seasonal factors. From January to February 2022, the cumulative production was 3.535 million vehicles, a year-on-year increase of + 17.8%; The cumulative wholesale sales reached 3.612 million vehicles, a year-on-year increase of + 13.6%.

The wholesale sales volume of new energy vehicles increased by 189.1% year-on-year, and the penetration rate increased month on month. The production, wholesale and retail sales of new energy passenger vehicles in February reached 35.1/31.7272000 respectively, with a year-on-year increase of + 208.1% / + 189.1% / + 180.5% and a month on month increase of – 18.7% / – 24.1% / – 22.6% respectively. In February, the wholesale penetration rate of new energy vehicles reached 21.8%, a year-on-year increase of 12.2pct compared with 9.6% in February 2021 and a month on month increase of 2.8pct compared with 19.0% in January 2022. From January to February 2022, the cumulative output of new energy vehicles was 783000, a year-on-year increase of + 168.5%, and the wholesale sales reached 734000, a year-on-year increase of + 161.9%. The government work report focuses on encouraging the consumption of new energy vehicles, which is expected to further promote the positive development of the industry.

With the promotion of electrification and the large amount of independent brands, the penetration rate of intelligent Internet connection is expected to continue to increase. In January, the penetration rate of intelligent network reached 16.7%, an increase of 8.72 PCT compared with 7.96% in the same period in 2021. Energy type: 320000 new energy vehicles were sold in January, including 137000 smart vehicles, with a penetration rate of 43.3%; The sales volume of traditional energy vehicles in January was 1.96 million, including 240000 smart vehicles, with a penetration rate of 12.4%. At the level of automobile enterprises: the overall sales volume of independent brands and the penetration rate of smart cars are excellent. 990000 vehicles were sold in January, including 224000 smart cars, with a penetration rate of 22.7%, exceeding the average level of 16.7% in the market; In January, the sales volume of Sino European joint venture brand reached 580000, including 88000 smart cars, with a penetration rate of 15.1%, and the sales volume of American joint venture brand reached 185000, including 43000 smart cars, with a penetration rate of 23.3%. It is expected that with the acceleration of vehicle electrification and the continuous volume of independent brands, the subsequent penetration of intelligent Internet connection is expected to continue to increase.

Investment suggestion: firmly optimistic about the prospect of automobile intelligent Internet connection. Intelligent level: the automatic driving sensor sector recommends laser radar industry chain torch technology, Advanced Fiber Resources (Zhuhai) Ltd(300620) , Suzhou Tfc Optical Communication Co.Ltd(300394) , Optowide Technologies Co.Ltd(688195) , and high-precision positioning is recommended to pay attention to Shanghai Huace Navigation Technology Ltd(300627) , Guangzhou Hi-Target Navigation Tech Co.Ltd(300177) ; Networking level: recommended manufacturers of vehicle communication modules Quectel Wireless Solutions Co.Ltd(603236) , Fibocom Wireless Inc(300638) , Meig Smart Technology Co.Ltd(002881) , Shenzhen Neoway Technology Co.Ltd(688159) , v2x recommended to pay attention to Gosuncn Technology Group Co.Ltd(300098) . At the same time, it is recommended to pay attention to Hangzhou Hopechart Iot Technology Co.Ltd(688288) , the manufacturer of intelligent network connection of commercial vehicles, which brings important increment to the intelligent market of electric two wheeled vehicles under the background of dual carbon. It is recommended that Queclink Wireless Solutions Co.Ltd(300590) .

Risk warning: the penetration rate of new energy vehicles is lower than expected; The progress of intelligent networking was less than expected.

- Advertisment -