Overall: last week (20220103-20220109), the CSI 300 rose or fell by – 2.39%, the growth enterprise market rose or fell by – 6.80%, and the automotive industry rose or fell by – 3.62%, ranking 21st in 30 industries at the first level of CITIC.
Segment industry: passenger cars ranked first with a weekly increase or decrease of + 1.15%, and passenger cars ranked last with a weekly increase or decrease of – 6.00%.
Concept sector: smart parking and equity participation Contemporary Amperex Technology Co.Limited(300750) ranked first with weekly increases and decreases of + 2.31% and + 0.85% respectively, and lithium battery and Contemporary Amperex Technology Co.Limited(300750) industry chain index industries ranked last with weekly increases and decreases of – 6.96% and – 6.39% respectively.
Stocks: 57 stocks in the automotive industry (CITIC) achieved positive returns last week (20220103-20220109). Among them, Wuxi Best Precision Machinery Co.Ltd(300580) ranked first with a rise and fall of + 27.60%, and Hainan Drinda Automotive Trim Co.Ltd(002865) ranked last with a rise and fall of – 23.67%.
Valuation: as of January 7, 2022, the PE (TTM) of the automotive industry (CITIC class I) was 42.25 and that of new energy vehicles was 62.59.
Industry highlights
1) Toyota will launch vehicle operating system before 2025
2) Shenzhen Dynanonic Co.Ltd(300769) it is proposed to build a phosphate cathode material project of RMB 7.5 billion
3) Sony sets up an electric vehicle company
4) Baidu took the lead in releasing the industry’s first self driving bus series standards
Investment advice
In terms of industry, according to the data of the passenger Federation, the overall retail sales reached 1.611 million in December 2021, with a month on month increase of 24%, and the recovery trend is good. In the market, the rise in raw material prices superimposed the end of the annual cycle of new energy at the end of the year, and the recent decline in the new energy sector with high valuation was more obvious. Recently, it is suggested to pay attention to the growth of truck employment cycle in spring, the recovery of passenger vehicle enterprises greatly affected by chips in the early stage, and core parts enterprises, such as Guangzhou Automobile Group Co.Ltd(601238) , Saic Motor Corporation Limited(600104) , Huayu Automotive Systems Company Limited(600741) , Sinotruk Jinan Truck Co.Ltd(000951) , Weichai Power Co.Ltd(000338) , Zhejiang Sanhua Intelligent Controls Co.Ltd(002050) , Wuxi Lead Intelligent Equipment Co.Ltd(300450) , Avic Jonhon Optronic Technology Co.Ltd(002179) .
Risk tips
Economic growth is lower than expected; Car sales are lower than expected; Covid-19 pneumonia continued to spread.
