Core ideas of this issue
Industry outlook and configuration suggestions:
New energy vehicles: since March, new energy vehicles have experienced intensive price increases again, including Tesla, Byd Company Limited(002594) , Xiaopeng automobile, Weima automobile, Zero run automobile and geometry automobile. China Shanxi Guoxin Energy Corporation Limited(600617) car is a consumer driven market and still has a strong ability to accept new energy vehicles after the price rise. At the same time, the industrial chain is expected to maintain a high year-on-year growth rate in the off-season in the first quarter. 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 batteries, diaphragms, negative electrodes and high nickel positive electrodes benefiting from 4680 batteries in the sector.
Recommended recommendations include: Ningbo Shanshan Co.Ltd(600884) Farasis Energy (Gan Zhou) Co.Ltd(688567)
New energy power generation: the rise of global energy prices is expected to drive the improvement of internal rate of return, and the demand is expected to continue to grow. At the same time, the German Ministry of economy has put forward a draft to be legislated, which plans to accelerate the expansion of wind energy and Cecep Solar Energy Co.Ltd(000591) infrastructure, and achieve the goal of 100% renewable energy power supply 15 years ahead of schedule (to 2035). We expect that the long-term space of wind power and photovoltaic will be further enlarged in the future.
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: Contemporary Amperex Technology Co.Limited(300750) launched the third generation CTP Technology (“Kirin battery”). Under the same chemical system and the same battery pack size, the power of Kirin battery pack can be increased by 13% compared with 4680 system.
New energy power generation: the national development and Reform Commission and the National Energy Administration issued the implementation plan for the development of new energy storage in the 14th five year plan, which requires accelerating the construction of system friendly new energy power stations, supporting the export of a high proportion of renewable energy bases with new energy storage, and promoting the development and consumption of large-scale wind power photovoltaic bases in desert Gobi desert and large-scale offshore wind power.
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.
