Industry outlook and configuration suggestions:
New energy vehicles: in 2022q1, Tesla delivered more than 310000 vehicles worldwide, a year-on-year increase of 67.7% and a month on month increase of 0.5% Byd Company Limited(002594) sales volume was 286000 vehicles, with a significant year-on-year increase of 423% and a month-on-month increase of 7.6%. The new energy vehicle market continued its booming situation since last year. Although car companies still face multiple unstable factors such as lack of core, rising prices of raw materials and finished vehicles, the “price rise tide” since the end of last year has not significantly affected Q1 sales, but spawned a wave of “rush order tide”. It is expected that Q2 sales will still maintain a high year-on-year growth rate. At the current time point, the new energy vehicle sector has ushered in a better configuration time point. It is suggested to pay attention to the battery link benefiting from the expected stable price of lithium carbonate and the price rise of downstream products, the negative link with tight supply and demand of graphitization, the diaphragm link with good competition pattern and profit at the bottom, and the high nickel positive link benefiting from 4680 battery.
Recommended recommendations include: Ningbo Shanshan Co.Ltd(600884) Shenzhen Dynanonic Co.Ltd(300769) , Farasis Energy (Gan Zhou) Co.Ltd(688567)
New energy power generation: Inner Mongolia, Gansu, Hebei, Yunnan, Shandong, Qinghai, Jilin and other 18 provinces and four regions announced their targets for the next 1-5 years in the 14th five year energy plan. The total planned installed capacity of scenery has reached more than 558.6gw, the newly installed capacity of photovoltaic has reached more than 288.6gw, and the newly added capacity of wind power has reached more than 190gw. 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:
Starting from March 2024, the company will be the first enterprise in the world to fully transform the production of pure electric vehicles and plug-in electric vehicles.
New energy power generation: Vestas officially announced the launch of v172-7.2 MW wind turbine, which is the latest model to improve the performance under medium and low wind speed based on its advanced modular enventus platform.
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.
