[four departments including the Ministry of Finance: the subsidy standard for new energy vehicles in 2022 will decline by 30% on the basis of 2021] on December 31, the Ministry of finance, the Ministry of industry and information technology, the Ministry of science and technology and the development and Reform Commission issued a notice on the financial subsidy policy for the promotion and application of new energy vehicles in 2022: in 2022, the subsidy standard for new energy vehicles will decline by 30% on the basis of 2021; For qualified vehicles in urban public transport, road passenger transport, rental (including online car Hailing), sanitation, urban logistics and distribution, postal express, civil aviation airport and public service of Party and government organs, the subsidy standard will decline by 20% on the basis of 2021. The subsidy policy for the purchase of new energy vehicles in 2022 will be terminated on December 31, 2022, and the vehicles licensed after December 31, 2022 will not be subsidized. In 2022, the current technical index of purchase subsidy will remain unchanged, and the subsidy scale will be liberalized from the original expected upper limit of 2 million vehicles, so as to realize the subsidy throughout the whole year.
[SASAC: the installed capacity of renewable energy of central enterprises will reach 50% in 2025] on November 27, SASAC issued the guidance on promoting the high-quality development of central enterprises and doing a good job in carbon peak and carbon neutralization. The document proposed to highlight the responsibility of central enterprises. By 2025, the comprehensive energy consumption of 10000 yuan output value of central enterprises will be 15% lower than that in 2020, the carbon dioxide emission of 10000 yuan output value will be 18% lower than that in 2020, the installed proportion of renewable energy power generation will reach more than 50%, and the revenue proportion of strategic emerging industries will not be less than 30%.
According to the data of Shanghai Nonferrous Metals network, on December 31, the mainstream price of electrolytic cobalt in China was 482000-492000 yuan / ton, with the average price unchanged compared with last week. Cobalt sulfate was reported at 101000-103000 yuan / ton, with an average price increase of 2300 yuan / ton compared with last week. Co3O4 was reported at 395000-395000 yuan / ton, with an average price of 10000 yuan / ton higher than last week. At the end of the year, the overseas market was closed, and the price of cobalt salt raw materials was stable. On the demand side, the willingness to purchase and inquire orders has warmed up, and the market turnover has increased. After new year’s day, it will enter the pre year stock period, and the purchase volume may increase. Cobalt salt prices are expected to rise slightly in the future. [lithium] according to the data of Shanghai Nonferrous Metals network, on December 31, the price of metal lithium was 1.31-1.36 million yuan / ton, with an average price of 160000 yuan / ton higher than last week. The mainstream price of battery grade lithium carbonate was reported at 271000-279000 yuan / ton, with an average price increase of 21000 yuan / ton compared with last week. The quotation of battery grade lithium hydroxide (coarse particle) is 218000-227000 yuan / ton, and the average price is 17500 yuan / ton higher than last week. In terms of battery grade lithium carbonate, the shipments of upstream and trader manufacturers are decreasing day by day, and the quotation increases significantly. In 2022, Qinghai may open its supply, but the quotation may remain high. It is expected that the trading volume will increase in early January, and the price may rise significantly. [ternary material] according to the data of Shanghai Nonferrous Metals network, on December 31, the mainstream price of ternary material (type 523) was 24000-248000 yuan / ton, and the average price increased by 4000 yuan / ton compared with last week. The quotation of ternary precursor (type 523) is 126000-128000 yuan / ton, with an average price increase of 0500 yuan / ton compared with last week. On the cost side, the manufacturing cost of ternary materials increased due to the upward price of cobalt salt and lithium. There is a small increment at the demand end and power end, and the number is relatively flat. It is expected that the price of ternary materials will continue to rise. [lithium iron phosphate cathode] according to the data of Shanghai Nonferrous Metals network, on December 31, the price of lithium iron phosphate (power type) was 107000-111000 yuan / ton, and the average price increased by 8000 yuan / ton compared with last week. The price of lithium iron phosphate (energy storage type) is 101000-105000 yuan / ton, with an average price increase of 8000 yuan / ton compared with last week. Lithium iron phosphate prices rose this week. The price of lithium salt at the raw material end increased. At the same time, driven by the price of upstream Yellow Phosphorus, the prices of phosphoric acid and iron phosphate also increased, pushing up the cost of lithium iron phosphate. On the demand side, the production capacity of large iron and lithium plants continues to release, which intensifies the increase of upstream materials, while downstream battery enterprises focus on spring festival goods preparation and centralized procurement, and have a relatively good acceptance of iron and lithium price increase. It is expected that the iron and lithium price may still rise in the future. It is suggested to pay active attention to: Contemporary Amperex Technology Co.Limited(300750) , Yunnan Energy New Material Co.Ltd(002812) , Zhejiang Huayou Cobalt Co.Ltd(603799) , Zhejiang Sanhua Intelligent Controls Co.Ltd(002050) , Beijing Easpring Material Technology Co.Ltd(300073) , Tianqi Lithium Corporation(002466) , Ganfeng Lithium Co.Ltd(002460) , Jiangsu Cnano Technology Co.Ltd(688116) , Wuxi Lead Intelligent Equipment Co.Ltd(300450) .
According to pvinfolink data, on December 29, the mainstream quotation of [silicon] polycrystalline silicon compact was 230000 yuan / ton, and the average price decreased by 2.5% compared with last week. Under the condition that the supply of silicon material increases steadily and the inventory water level rises rapidly, the buyer has certain bargaining space and ability. The rate and range of silicon material price decline are in the acceleration stage. [silicon wafer] the mainstream price of single crystal silicon wafer 158.75mm is 5.000 yuan / PC, and the average price is the same as last week. The mainstream quotation of 166mm monocrystalline silicon wafer is 4.950 yuan / PC, with the average price rising by 1% compared with last week. The mainstream quotation of 182mm monocrystalline silicon wafer is 5.700 yuan / PC, and the average price is the same as last week. With the accelerated destocking of silicon wafers and the gradual recovery of the operating capacity of batteries and components, the overall price of monocrystalline silicon wafers is expected to remain stable for the time being. [cell] the mainstream quotation of 166mm single crystal perc cell is 1.050 yuan / W, and the average price is the same as last week. The mainstream quotation of 182mm single crystal perc battery is 1.080 yuan / W, and the average price is the same as last week. Under the factors such as the sharp price reduction of silicon wafers, single crystal battery chips are expected to maintain a certain profit level. [components] the mainstream quotation of 365-375 / 440-450w single crystal perc components is 1.850 yuan / W, and the average price is 2.6% lower than last week. The mainstream quotation of 182mm single crystal perc components was 1.880 yuan / W, with an average price decrease of 2.6% compared with last week. [photovoltaic glass] the mainstream of 3.2mm coating was reported as 26.0 yuan / m2, and the average price was flat compared with last week. The mainstream quotation of 2.0mm coating is 20 yuan / m2, and the average price is the same as last week. Key recommendations: Kbc Corporation Ltd(688598) , Hangzhou First Applied Material Co.Ltd(603806) , Zhejiang Jingsheng Mechanical & Electrical Co.Ltd(300316) , Shanghai Aiko Solar Energy Co.Ltd(600732) , Longi Green Energy Technology Co.Ltd(601012) , Xinjiang Daqo New Energy Co.Ltd(688303) , Tongwei Co.Ltd(600438) . It is suggested to pay active attention to: Tianjin Zhonghuan Semiconductor Co.Ltd(002129) , Wuxi Shangji Automation Co.Ltd(603185) , Suzhou Maxwell Technologies Co.Ltd(300751) , Flat Glass Group Co.Ltd(601865) .
Risk warning: the policy is not as expected; The recovery of China’s photovoltaic demand is less than expected; The sales volume of new energy vehicles recovered less than expected; The impact of overseas epidemic continues.
