Key investment points
Core view of this week: on the fourth Sunday of December 2021, an average of 82000 units will be retailed, with a year-on-year increase of 6%, and the performance will be improved; On the fourth Sunday, 85000 vehicles were wholesale, a year-on-year increase of 27%, with a strong trend. Near the end of the year, connecting the year-end impulse and the peak sales period before the Spring Festival in 2022, the auto market is gradually stronger. We recommend three main lines:
(1) Independent brand leaders with strong new product cycle: Great Wall Motor Company Limited(601633) , Byd Company Limited(002594) .
(2) Parts enterprises closely related to the electric intelligent industrial chain with high growth certainty: Huizhou Desay Sv Automotive Co.Ltd(002920) , Guangdong Senssun Weighing Apparatus Group Ltd(002870) , Zhejiang Sanhua Intelligent Controls Co.Ltd(002050) , Changzhou Xingyu Automotive Lighting Systems Co.Ltd(601799) , Shandong Linglong Tyre Co.Ltd(601966) .
(3) Heavy truck enterprises with increasing market share and expected to usher in a performance inflection point: Sinotruk Jinan Truck Co.Ltd(000951) .
Important information: Robin Li: the first car was unveiled in Siasun Robot&Automation Co.Ltd(300024) 2022, which produced mass production in 2023. Automatic driving company “trend chasing technology” won a round of financing of more than 100 million yuan; Horizon has reached strategic cooperation with minieye; SAIC, Xiaomi investment, Jingwei Hengrun and other investment automobile MCU manufacturers flag core micro; Wuxi Leiden electronics, an automobile pressure sensor manufacturer, completed round B financing of RMB 100 million; Chongqing Changan Automobile Company Limited(000625) reach strategic cooperation with Zongmu technology; Polar krypton develops driverless exclusive vehicles for waymo; Great Wall Motor Company Limited(601633) strategic lead investment Tongguang Co., Ltd. to layout the third generation semiconductor; Geely Foxconn joint venture “Automobile Foundry” landed.
Important announcement: Anhui Zhongding Sealing Parts Co.Ltd(000887) : Chengdu WANGJIN, a subsidiary of the company, recently received a notice from customers that the company has become a batch supplier of chassis lightweight assembly products of a new energy brand host factory in China, with a total order amount of about 834 million yuan; Zhejiang Asia-Pacific Mechanical & Electronic Co.Ltd(002284) : the company recently received the new product development notice of Great Wall Motor Company Limited(601633) . The company will develop and produce the front brake caliper assembly products of B07 model as the parts development and production supplier of Great Wall Motor Company Limited(601633) ; Nanjing Chervon Auto Precision Technology Co.Ltd(603982) : 1. The company has received the notice of Chongqing Qingshan industrial project. Chongqing Qingshan plans to purchase transmission box from the company for terminal assembly of Changan’s models. The estimated project amount is 1.7 billion yuan and the implementation cycle is 5 years; 2. The company plans to invest in a new production line of new energy parts in Nanjing Jiangning Economic Development Zone, with a project investment of about 500 million yuan.
Last week’s market review: last week, the Shanghai Composite Index, Shenzhen Component Index and Shanghai and Shenzhen 300 rose and fell by + 0.60%, + 1.00% and + 0.39% respectively. The auto sector fell 1.05% and performed poorly. Among the automobile sub sectors, the commercial passenger car and automobile service sector recorded an increase, of which the commercial passenger car sector increased the most, by 2.51%, and the automobile service sector increased the least, by 0.17%; Commercial trucks fell the least, down 0.68%, and auto parts fell the most, down 1.42%.
New car listing statistics: fifteen new cars were listed last week, including Baizhi bear, Odyssey, haver red rabbit, Huanghai Daniel pioneer, Geely Haoyue, Zero run T03, Geely icon green kite, Subaru Aohu, Chery QQ ice cream, Ruifeng L5, haver H6, Allison, Citroen Tianyi c5aircross, Renault Jiangling Yi, Geely Dihao L and Yizhi ev3 small radar.
Risk warning: the price of upstream raw materials rises sharply; Impact of shortage of automotive chips; After the implementation of national six emission regulations, the production and sales of heavy trucks fell sharply in the second half of the year.
