Sichuan caizhou viewpoint
In March, there were 480000 electric vehicles in China, and the overall sales situation was good. In April, it is expected that under the influence of the epidemic, the overall sales were under pressure. At present, Shanghai automobile industry chain enterprises have gradually resumed work and production, and the overall prosperity rate of the industry gradually recovered in May. At present, the market expectation and valuation are obviously at the bottom of the stage, so they are optimistic about the rebound opportunity of the new energy vehicle sector. The future new energy plans of European countries have been released one after another. The overall plan is optimistic and the overseas demand is stable. They are optimistic about China’s photovoltaic industry chain. It is suggested to pay attention to the opportunities of benefiting top enterprises in the industry chain.
Market performance in one week
This week, the power equipment index fell 5.66%, the Shanghai index fell 0.81%, and the Shanghai and Shenzhen 300 index fell 0.93%. Among the sub sectors, the battery index fell 8.70%, the photovoltaic equipment index fell 8.44% and the wind power equipment index fell 8.61%. In terms of individual stocks, the top three companies in the power equipment industry are: St remote ( Yuan Cheng Cable Co.Ltd(002692) .sz, 12.09%), Pylon Technologies Co.Ltd(688063) ( Pylon Technologies Co.Ltd(688063) . Sh, 11.82%), Blivex Energy Technology Co.Ltd(300116) ( Blivex Energy Technology Co.Ltd(300116) . SZ, 5.79%); The companies with the first three weeks of decline are: Shandong Shida Shenghua Chemical Group Company Limite(603026) ( Shandong Shida Shenghua Chemical Group Company Limite(603026) . Sh, – 19.55%), Cngr Advanced Material Co.Ltd(300919) ( Cngr Advanced Material Co.Ltd(300919) . SZ, – 18.83%), beiteri (835185. BJ, – 18.17%).
Industry dynamics
The Automobile Association of China and the passenger Federation will release the data of automobile production and sales in March 2022. According to the data of the Federation of passenger cars, the retail sales of the passenger car market reached 1.579 million in March 2022, a year-on-year decrease of 10.5% and a month on month increase of 25.6%. From January to March, a total of 4.915 million vehicles were retailed, a year-on-year decrease of 4.5%, a decrease of 230000 vehicles compared with the same period last year. In March, the retail sales volume of new energy passenger vehicles reached 445000, a year-on-year increase of 137.6% and a month on month increase of 63.1%. From January to March, China retailed 1.07 million new energy passenger vehicles, a year-on-year increase of 146.6%. In March, the penetration rate of new energy vehicles exceeded 28%, and the penetration rate in the first quarter was close to 22%. (official website of China Automobile Industry Association)
Recently, Hunan development and Reform Commission issued the notice on matters related to the development and construction of wind power and photovoltaic power generation projects in the province during the 14th Five Year Plan period, striving to ensure that wind power and centralized photovoltaic power generation projects with development and construction conditions should be opened as much as possible during the 14th Five Year Plan period. According to the document, Hunan Province plans to have an installed capacity of wind power and photovoltaic power generation of more than 25gw by 2025. (Financial Associated Press)
Guangdong Province issued the 14th five year plan for energy development in Guangdong Province. The plan proposes to actively develop photovoltaic power generation, adhere to the simultaneous development of centralized photovoltaic power stations and distributed development, and vigorously improve the scale of photovoltaic power generation. In particular, it is mentioned that during the 14th Five Year Plan period, we will vigorously support distributed photovoltaic, actively promote the integrated construction of photovoltaic buildings, and encourage the development of roof distributed photovoltaic power generation. During the 14th Five Year Plan period, the installed capacity of new photovoltaic power generation is about 20GW. (Financial Associated Press)
Company announcement
Shandong Shida Shenghua Chemical Group Company Limite(603026) : the company expects to achieve a net profit of 445 million yuan to 472 million yuan attributable to shareholders of Listed Companies in the first quarter of 2022, an increase of 91.86% to 103.50% year-on-year Beijing Easpring Material Technology Co.Ltd(300073) : the net profit in the first quarter is expected to be 350 million yuan to 400 million yuan, with a year-on-year increase of 134.58% – 168.09%.
Tbea Co.Ltd(600089) : the company achieved an operating revenue of 61.278 billion yuan in 2021, with a year-on-year increase of 37.4%; The net profit attributable to shareholders of the parent company was 72.55 yuan, a year-on-year increase of 196.34%; The basic earnings per share is 1.88 yuan, and the proposed 10 dividend is 5.8 yuan.
Suzhou Good-Ark Electronics Co.Ltd(002079) : it is estimated that the net profit attributable to shareholders of the parent company in the first quarter of 2022 will be 58.013 million yuan – 700712 million yuan, with a year-on-year increase of 15.09% – 39.01%.
Yunnan Energy New Material Co.Ltd(002812) : the first quarterly report of 2022 shows that the company’s performance is expected to increase. The predicted performance: the net profit is about 865 million yuan – 950 million yuan, with a range of 100.19% – 119.86% Shanghai Putailai New Energy Technology Co.Ltd(603659) : the first quarterly report of 2022 officially disclosed that the total operating revenue is 3.131 billion yuan, with a year-on-year increase of 80.0%, the net profit attributable to shareholders of the parent company is 637 million yuan, with a year-on-year increase of 90.28%, the basic EPS is 0.92 yuan, and the average roe is 5.89%.
Xinbo platinum Co., Ltd.: the performance forecast of the first quarter of 2022 is expected to realize the net profit attributable to the shareholders of the parent company of 431568485514 million yuan, with a year-on-year increase of 60% – 80%.
Wuxi Autowell Technology Co.Ltd(688516) : the company achieved an operating revenue of 2.047 billion yuan in 2021, with a year-on-year increase of 78.93%; The net profit attributable to shareholders of the parent company was 371 million yuan, a year-on-year increase of 138.63%; The basic earnings per share is 3.76 yuan Ja Solar Technology Co.Ltd(002459) : the net profit in the first quarter is expected to be RMB 700 million-780 million, with a year-on-year increase of 346.32% – 397.33%. The company’s PV module product shipments increased year-on-year, and the product prices increased in the same direction, resulting in a significant increase in revenue scale and product profitability.
Zhejiang Jingsheng Mechanical & Electrical Co.Ltd(300316) : in the first quarter, the net profit attributable to the shareholders of the parent company is expected to be 400 million yuan – 480 million yuan, an increase of 42.09% – 70.51% over the same period of the previous year. During the reporting period, benefiting from the active promotion of production expansion by downstream silicon wafer manufacturers in the photovoltaic industry, the company’s operating revenue scale and operating performance increased significantly year-on-year.
Central shares: it is estimated that the net profit in the first quarter of 2022 will be 1.26 billion yuan – 1.36 billion yuan, with a year-on-year increase of 132.71% – 151.18%.
Shenzhen Dynanonic Co.Ltd(300769) : the first quarterly report of 2022 officially disclosed that the total operating revenue was 3.374 billion yuan, an increase of 561.88% year-on-year, the net profit attributable to shareholders of the parent company was 762 million yuan, 140277% year-on-year, the basic EPS was 8.54 yuan, and the average roe was 21.56%.
Risk tip: the bottleneck of the supply chain leads to lower demand than expected, and the intensification of market competition leads to the decline of industry profitability.
