Key investment points
Overall: last week (2022031420220320), the CSI 300 rose or fell by – 0.94%, the growth enterprise market rose or fell by + 1.81%, and the automotive industry rose or fell by – 0.65%, ranking eighth in 30 industries at the first level of CITIC.
Industry segments: passenger cars ranked first with a weekly increase or decrease of – 0.11%, and truck industry ranked last with a weekly increase or decrease of – 2.59%.
Concept sector: shares in Contemporary Amperex Technology Co.Limited(300750) , lithium battery ranked first with weekly increase and decrease of + 1.61% and + 0.92% respectively, and charging pile and electric logistics vehicle index industry ranked last with weekly increase and decrease of – 3.87% and – 2.74% respectively.
Stocks: 40 stocks in the automotive industry (CITIC) achieved positive returns last week (2022031420220320). Among them, Sinomach Automobile Co.Ltd(600335) ranked first with a rise and fall of + 15.88%, and Zhejiang Xiantong Rubber & Plastic Co.Ltd(603239) ranked last with a rise and fall of – 8.98%.
Valuation: as of March 18, 2022, the PE (TTM) of the automotive industry (CITIC class I) was 35.49 and the PE (TTM) of new energy vehicles was 54.52.
Industry highlights
1) Audi will carry holoride on some models from June;
2) the price of Tesla Model 3 / y rose again, with an increase of 1400020000 yuan;
3) Byd Company Limited(002594) increased the price of several models by 3 Jointo Energy Investment Co.Ltd.Hebei(000600) 0 yuan;
4) Sunwoda Electronic Co.Ltd(300207) plans to invest 8 billion yuan to build 20gwh power and energy storage battery project in Shifang;
5) three factories in Renesas were shut down due to the Fukushima magnitude 7.3 earthquake.
Investment advice
Affected by the rise in the price of battery raw materials, the price of new energy vehicles has been raised recently, including Tesla‘s intensive price rise three times in eight days. At present, the new energy market is in good condition, and it is expected that there will be car enterprises announcing price increases in the future. At present, the market valuation is low. It is suggested to pay attention to new energy vehicle, 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) .
Risk tips
Economic growth is lower than expected; Car sales are less than expected; Covid-19 pneumonia continues to spread
