Core view:
View update this week
The rise and fall of the industry this week is relatively in the middle and lower level of the whole industry. Recently, the national epidemic has shown a point like outbreak trend. As of April 8, 2022, the number of newly confirmed cases in Shanghai, Changchun and other places in a single day has also remained high. These two cities are important production bases of China's automobile industry. The outbreak of the epidemic has also caused relevant enterprises to stop production, which will have a great impact on the supply of some finished automobiles and related parts and components. Superimposed on the impact of automobile supply side, the rise of raw material prices, the rise of vehicle prices or the narrowing of concessions, the weak demand and the weakening of consumers' confidence in buying cars all limit the profit space of dealers. In April, due to the intensification of epidemic control, many auto shows were delayed or cancelled, and the launch of new cars was delayed, which also had a certain impact on sales. If the epidemic situation is controlled in mid and late April, the backlog of market demand in the short term will be released rapidly. It is expected that the sales volume in April is slightly better than that in the same period last year.
Weekly market review
This week, the Shanghai Composite Index, Shenzhen Component Index and Shanghai Shenzhen 300 index rose or fell by - 1.73%, - 2.19% and - 1.35% respectively. The rise and fall of the automobile sector was - 2.85%, ranking 20 out of 30 industries, ranking lower in the industry ranking. From the perspective of a stock situation, the top five gaingainers in the industry this week are among the companies in the industry this week. The top five gaingaingainers in the industry this week are the Apple Flavor & Fragrance Group Co.Ltd(603020) 23 Wuxi Longsheng Technology Co.Ltd(300680) , SST Jiatong and Zhejiang Jingu Company Limited(002488) , with decreases of - 14.71%, - 12.53%, - 12.20%, - 11.76% and - 11.63% respectively.
Investment advice
It is suggested to continue to pay attention to Guangzhou Automobile Group Co.Ltd(601238) ( Guangzhou Automobile Group Co.Ltd(601238) . SH), Chongqing Changan Automobile Company Limited(000625) ( Chongqing Changan Automobile Company Limited(000625) . SZ), Great Wall Motor Company Limited(601633) ( Great Wall Motor Company Limited(601633) . SH / 2333. HK); The parts industry is suggested to pay attention to Huayu Automotive Systems Company Limited(600741) ( Huayu Automotive Systems Company Limited(600741) . SH), Keboda Technology Co.Ltd(603786) ( Keboda Technology Co.Ltd(603786) . SH), Ningbo Joyson Electronic Corp(600699) ( Ningbo Joyson Electronic Corp(600699) . SH).
Risk tips
1. The risk of car sales not reaching the expectation. 2. Industrial chain risk caused by chip shortage. 3. The risk of adverse impact of rising raw material prices on profits.
