One week market review
This week, the Shanghai Composite Index fell 1.87% and the Shanghai and Shenzhen 300 index fell 1.06%. The CSI mainland new energy theme index rose 1.96%. This week, the lithium battery sector outperformed the market, with the index falling 0.72%; The performance of the new energy vehicle sector was stronger than the market, with the index falling 0.90%; The performance of charging pile sector was weaker than the market, and the index fell 1.61%; The performance of wind power sector was weaker than that of the market, and the index fell 1.34%; The performance of photovoltaic sector was stronger than that of the market, and the index rose by 1.40%; The energy storage sector outperformed the market, with the index rising 0.54%.
In February, the sales volume of new energy vehicles was 334000, with a year-on-year increase of 184.3%
On March 11, the China Automobile Association released the automobile production and sales data in February, of which the sales volume of new energy vehicles was 334000, with a year-on-year increase of 184.3% and a month on month decrease of 18.6%, which is in line with market expectations. With regard to the production and sales data of new energy vehicles in the first quarter, we believe that the focus should be on the data in the next March. The continuous rise in the price of upstream raw materials will have a certain impact on the midstream power battery and downstream new energy vehicle enterprises. The shutdown impact of some models below 100000 yuan may be reflected in the production and sales data in March and the second quarter. It is suggested to pay close attention to the price change of lithium carbonate and the capacity expansion progress of lithium resources of major manufacturers.
Longi Green Energy Technology Co.Ltd(601012) signed a major investment agreement of 19.5 billion yuan
On March 13, Longi Green Energy Technology Co.Ltd(601012) issued the announcement of signing major investment agreement. The company signed the investment cooperation agreement with Inner Mongolia Eerduosi Resources Co.Ltd(600295) Municipal People’s government and people’s Government of Yijinholo banner on March 12, 2022, regarding the company’s investment and construction of 20GW monocrystalline silicon rod and chip project in mengsu Economic Development Zone, Yijinholo banner, Inner Mongolia Eerduosi Resources Co.Ltd(600295) City, Inner Mongolia Autonomous Region 30GW high-efficiency single crystal cell project and 5GW high-efficiency photovoltaic module project reached a cooperation intention, with a total investment of 19.5 billion yuan. Since the beginning of this year, there has been a strong demand for photovoltaic downstream as a whole, Longi Green Energy Technology Co.Ltd(601012) this major investment will further enhance the leading position of the company.
Investment suggestion: it is suggested to pay attention to the subject matter related to photovoltaic modules, inverters, distributed photovoltaic and power station operation.
Risk tip: the price of photovoltaic silicon material fell less than expected, and the industrial policy was adjusted.
