Overall: last week (2022030720220313), CSI 300 rose or fell by – 4.22%, gem rose or fell by – 3.03%, and the automotive industry rose or fell by – 4.45%, ranking 15th in 30 industries at the first level of CITIC.
Industry segments: motorcycles and others ranked first with a weekly increase or decrease of – 1.96%, and the truck industry ranked last with a weekly increase or decrease of – 7.26%.
Concept sector: smart parking and Geely concept ranked first with weekly increases and decreases of – 1.91% and – 2.97% respectively, and fuel cell and shared vehicle industries ranked last with weekly increases and decreases of – 5.71% and – 5.69% respectively.
Stocks: 24 stocks in the automotive industry (CITIC) achieved positive returns last week (2022030720220313). Among them, Zhonglu.Co.Ltd(600818) ranked first with a rise and fall of + 61.18%, and Yunnan Xiyi Industrial Co.Ltd(002265) ranked last with a rise and fall of – 15.99%.
Valuation: as of March 11, 2022, the PE (TTM) of the automotive industry (CITIC class I) was 35.68 and that of new energy vehicles was 54.73.
Industry highlights
1) Miracle Automation Engineering Co.Ltd(002009) plans to build a waste battery recycling platform with JD technology;
2) lunni soared unprecedentedly, and LME cancelled the “short pressing” transaction on the 8th;
3) SAIC GM Wuling released the new energy strategy of “two million” and “five ten billion”;
4) China’s power battery output in February increased by 236.2% year-on-year, and the loading volume of power battery increased by 145.1% year-on-year.
5) China Automobile Association: in February, the sales volume of new energy vehicles was 334000, a year-on-year increase of 1.8 times
Investment advice
According to the data of the passenger Federation, the wholesale sales volume of new energy passenger vehicles in February was 317000, with a year-on-year increase of 189%. In February, the wholesale penetration rate of new energy vehicle manufacturers was 21.8%, an increase of 12 percentage points compared with the same period in 2021. New energy still showed strong growth characteristics. It is expected that new energy vehicles will maintain a high growth rate this year, but affected by the rise of upstream raw material prices and the reduction of subsidies, The gross profit margin of enterprises may decline. In the near future, it is suggested to pay attention to new energy vehicles, lithium mining enterprises and battery recycling enterprises, such as: Byd Company Limited(002594) , Beijing Easpring Material Technology Co.Ltd(300073) , Ganfeng Lithium Co.Ltd(002460) , Tianqi Lithium Corporation(002466) , Avic Jonhon Optronic Technology Co.Ltd(002179) .
Risk tips
Economic growth is lower than expected; Car sales are less than expected; Covid-19 pneumonia continued to spread.
