Industry outlook and configuration suggestions:
New energy vehicles: Recently, new energy vehicles have experienced intensive price increases again. 1) on March 15, Byd Company Limited(002594) automobile announced to adjust the official guidance price of new energy models related to dynasty.com and ocean.com, with an increase range of 3 Jointo Energy Investment Co.Ltd.Hebei(000600) 0 yuan. This is the second price increase since 2022. 2) From March 17 to the evening of March 19, Xiaopeng automobile, Weima automobile, Zero run automobile and geometric automobile also joined the camp of the price increase army. 3) Tesla has raised the price of its products twice since March 22. We believe that the price rise of new energy vehicles has once again transmitted the price pressure of raw materials, and consumers still have strong acceptance ability. At the current time point, the new energy vehicle sector has ushered in a better configuration time point. It is suggested to actively pay attention to the battery, diaphragm, negative electrode, positive electrode and other links with good competition pattern in the sector.
Recommendations include: Ningbo Shanshan Co.Ltd(600884) Farasis Energy (Gan Zhou) Co.Ltd(688567)
New energy power generation: we believe that with the rise of global energy prices, it is expected to drive the improvement of internal rate of return, further enlarge the long-term space in the future, and the demand is expected to continue to grow.
Recommended: Yangling Metron New Material Co.Ltd(300861) , Longi Green Energy Technology Co.Ltd(601012) , Ja Solar Technology Co.Ltd(002459) , Tongwei Co.Ltd(600438) , Cybrid Technologies Inc(603212)
Industry trends:
New energy vehicles: Mercedes Benz announced a cooperation with vision power. Vision power will provide power battery modules for EQS and EQE of Mercedes Benz’s new generation of pure electric SUV, helping Mercedes Benz accelerate its comprehensive electric transformation.
New energy power generation: from March 16 to 18, photovoltaic modules of super 1GW projects such as Huaneng, SDIC, Three Gorges and Guangdong Energy announced the bid winning candidates, with a total scale of about 100987mw. The bid winning price of components in this statistics is between 1.80-1.92 yuan / W. Among them, Jingke energy won the bid in advance for the two projects of state investment group and Guangdong energy, with the largest scale of nearly 600MW.
Risk factors: the downstream demand is less than the expected risk; Risk of technical route change; Price fluctuation risk of raw materials; Market competition intensifies risks; International trade risks, etc.
