Index
On April 6, 2022, the Shanghai Composite Index closed at 328343 points, up 0.02%; The Shenzhen composite index closed at 1217291 points, down 0.45%. The auto electronics index closed at 250607 points, down 0.27%; The passive component index closed at 809863 points, down 0.26%; The photovoltaic auxiliary material index closed at 177927 points, up 0.52%; Semiconductor materials index closed at 755317 points, up 0.56%. The top three companies in the automotive electronics industry are: Harbin Viti Electronics Corp(603023) ( Harbin Viti Electronics Corp(603023) , 10.12%), Qiming Information Technology Co.Ltd(002232) ( Qiming Information Technology Co.Ltd(002232) , 6.01%), Navinfo Co.Ltd(002405) ( Navinfo Co.Ltd(002405) , 5.99%).
Comments
On April 3, Byd Company Limited(002594) released data showing that its sales of new energy vehicles in March was 104900, up 19.28% month on month. At the same time, it claimed to stop the production of fuel vehicles from March and focus on the business of pure electric and plug-in hybrid vehicles. This indicates that Byd Company Limited(002594) has become the first auto company in the world to officially announce the shutdown of fuel vehicles. Previously, many auto companies also clearly put forward the timetable for stopping the sale of fuel vehicles. For example, Volvo and Ford will lock all electric vehicles in 2030, Byd Company Limited(002594) which to some extent symbolizes that China Shanxi Guoxin Energy Corporation Limited(600617) auto has taken the lead in the global market. From the sales volume of new energy vehicles in March, the market is continuing to make rapid progress. Due to the recent macro interference factors, the overall uncertainty of the high growth trend is high. It is expected to drive the continuous expansion of the market of power devices, memory, sensors and other electronic components.
Industry dynamics
As of April 5, 22 provinces / regions such as Inner Mongolia, Qinghai and Sichuan have defined the development objectives of new energy industry in the 14th five year energy plan. A series of documents pointed out that it is expected that the new installed capacity of photovoltaic will reach more than 288.6gw and that of wind power will reach more than 190gw in the next 1-5 years. Under the guidance of the national policies of “carbon neutrality” and “green power grid”, photovoltaic and other new energy power generation industries continue to maintain a rapid growth momentum, and the industrial increment space continues to expand, driving the continuous and rapid growth of relevant sub track markets such as passive components, semiconductor materials and photovoltaic equipment. The recent valuation correction to a certain extent provides a configuration opportunity period for such highly deterministic growth tracks.
Company dynamics
Han’S Laser Technology Industry Group Co.Ltd(002008) ( Han’S Laser Technology Industry Group Co.Ltd(002008) ): the company released the annual report of 2021. During the reporting period, the company achieved an operating revenue of 16.332 billion yuan, a year-on-year increase of 36.76%, setting a new high of the company’s revenue. The company’s net profit margin on sales was 12.74%, up 4.42% year-on-year. The net profit attributable to the parent company was 1.994 billion yuan, a year-on-year increase of 103.74%, higher than the growth rate of revenue. According to the company’s statement on the investor interaction platform, Han’S Laser Technology Industry Group Co.Ltd(002008) has officially become the supplier of Contemporary Amperex Technology Co.Limited(300750) mopa pulsed fiber laser, which is used for pole cutting and other processes in battery cell manufacturing. The demand for high-power laser processing equipment in the new energy vehicle industry continues to increase, and the market development potential continues to expand.
Risk tips: the epidemic spread exceeded expectations, technological innovation was less than expected, and the impact of external interference factors exceeded expectations.
