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Contemporary Amperex Technology Co.Limited(300750) intraday crash hit a new low in this round of adjustment market value fell below trillion mark
Contemporary Amperex Technology Co.Limited(300750) ( Contemporary Amperex Technology Co.Limited(300750) ) opened low and went low on the 20th. At one time, the intraday price fell by more than 7%. The stock price hit a new low in this round of adjustment, and the market value fell below the trillion mark.
The annual performance forecast of 2021 disclosed by the company on January 28 shows that the net profit attributable to shareholders of Listed Companies in 2021 is expected to be 14-16.5 billion yuan, with a year-on-year increase of 150.75% - 195.52%; The company said that the increase in performance in 2021 compared with the same period of last year was mainly due to the increase in the market penetration of new energy vehicles and energy storage in 2021, which led to the growth of battery sales; The company has made progress in market development, released new production capacity and increased production and sales accordingly; The company strengthened cost control and reduced the proportion of expenses in revenue. The company's annual report will be officially disclosed on April 22.
It is worth noting that Contemporary Amperex Technology Co.Limited(300750) has pulled back all the way since hitting a record high of 692 yuan on December 3, 2021. Today, it was as low as 407.2 yuan, with a range decline of 40%. The company suffered a sharp decline from February 8 to February 11.
At that time, Soochow Securities Co.Ltd(601555) pointed out that the company's stock price was wrongly killed due to various rumors recently, and the valuation was corrected to the bottom of history. 2022 is a big year for the global sales of electric vehicles and energy storage, and the company has sufficient orders. It is expected that the global share will further increase to 35% +, and the shipment volume and performance are expected to continue to double. The current valuation is obviously underestimated. Considering the high growth of the company in 2022 and the global power battery longyi, the customer, technology and cost are all in the lead, and the long-term advantages are prominent, the company is given a certain valuation premium, 70 times PE in 2022, the target price is 905.8 yuan, and the "buy" rating is maintained.
Citic Securities Company Limited(600030) also said that the company's fundamentals are still strong. In terms of market share, the company's global and Chinese market share in 2021 were 32.6% and 52.4% respectively. It has maintained the first position in the world for five consecutive years, and the leading position is expected to be maintained. It is estimated that in 2022, the sales volume of new energy vehicles in China / around the world will be 5.5 million and 9.62 million respectively, and the corresponding power battery demand will be 286gwh and 500gwh respectively. Superimposed on the rapidly growing demand of the energy storage industry, the demand side of the industry will remain strong, the company's capacity will be released rapidly, and the breakthrough of overseas power batteries and energy storage batteries is expected to be accelerated. In the field of technology, the company has successively released structural innovative technologies such as CTP, CTC and a + B, as well as new technical solutions such as sodium ion battery and power exchange, so as to continue to lead the development of the industry.
agriculture sector takes off! Soybean, planting industry, Rural Revitalization and other concept stocks rose Hefei Fengle Seed Co.Ltd(000713) , Zhongnongfa Seed Industry Group Co.Ltd(600313) daily limit
On the morning of April 20, the A-share agricultural sector took off, and concept stocks such as soybean, planting industry and Rural Revitalization rose. Concept stocks such as Hefei Fengle Seed Co.Ltd(000713) , Zhongnongfa Seed Industry Group Co.Ltd(600313) and Gifore Agricultural Science & Technology Service Co.Ltd(300022) , Dayu Water-Saving Group Co.Ltd(300021) and so on rose. On the news front, a few days ago, Shandong Denghai Seeds Co.Ltd(002041) , Zhongnongfa Seed Industry Group Co.Ltd(600313) and other seed industry companies released their 2021 annual reports. While disclosing their performance, they also gave feedback on the current situation of the industry. With the growth of production and sales, the market competition is still fierce.
Central China Securities Co.Ltd(601375) said that the price of corn, as China's main food crop, has risen rapidly since 2020 due to the expansion of downstream feed demand and the reduction of China's inventory. After the shock consolidation in the second half of 2021, corn prices have rebounded again recently catalyzed by the situation in Russia and Ukraine. In the short term, the production capacity of pigs has not yet reached the peak, and the demand for feed corn is relatively rigid, which forms a certain support for the trend of corn price.
The broker predicts that from 2022 to 2023, China's pig production capacity will be gradually eliminated, and the demand for feed corn will be gradually reduced. In the long run, the upward space of corn price is limited. On the other hand, some Chinese enterprises have obtained the biosafety certificate of genetically modified corn. In order to realize the scientific and technological self-reliance of China's seed industry, the application of biological breeding technology is the general trend. After the commercialization of biological breeding technology in China, the overall profitability of the industry is expected to be further improved.
In addition, Guosen Securities Co.Ltd(002736) analysis, in terms of cycle, it is expected that the high boom of China's corn, wheat and other grain prices in 2022 is expected to continue. In the winter of 2021, the main wheat producing areas will have problems of late sowing and low germination rate, and the wheat output may decrease in 2022. Due to the substitution relationship between wheat and corn, the price of corn is also expected to strengthen. As a post grain price cycle, the prosperity of seed industry will rise in the next 2-3 years. Stimulated by high grain prices, farmers' demand for brand seeds is much better than that of the industry, and the volume and price of leading enterprises rise together.
China strengthens the construction of digital government strong promotion of the concept of smart government Servyou Software Group Co.Ltd(603171) and other daily limits
The concept of smart government affairs rose strongly on the 20th. As of press time, Beijing Join-Cheer Software Co.Ltd(002279) , Inesa Intelligent Tech Inc(600602) , Shenzhen Infinova Limited(002528) , Servyou Software Group Co.Ltd(603171) and other trading limits.
On the news, the 25th meeting of the Central Committee for comprehensively deepening reform held on April 19 considered and adopted the guiding opinions on strengthening the construction of digital government. The meeting pointed out that strengthening the construction of digital government is an important measure to innovate the concept and mode of government governance, which is of great significance to accelerate the transformation of government functions and build a government ruled by law, a clean government and a service-oriented government. Since the 18th CPC National Congress, the CPC Central Committee has made a series of major arrangements around the implementation of the network power strategy and big data strategy, and new progress has been made in all aspects of work. We should adhere to and strengthen the party's comprehensive leadership through all fields and links of digital government construction, and adhere to the correct political direction. We should take meeting people's yearning for a better life as the starting point and foothold of the construction of digital government, build a ubiquitous, intelligent, convenient, fair and inclusive digital service system, and let people run less errands and more data.
We should use digital reform to help transform government functions, comprehensively promote the intensive construction, interconnection and collaborative linkage of government application systems in various industries and fields, give play to the important supporting role of digitization in the government's performance of economic regulation, market supervision, social management, public services, ecological and environmental protection, and build a collaborative and efficient government digital performance capacity system. We should strengthen the concept of system, improve the scientific and standardized system of digital government construction, promote the efficient sharing and orderly development and utilization of data in accordance with laws and regulations, comprehensively promote technology integration, business integration and data integration, and improve the collaborative management and service level of cross level, cross region, cross system, cross department and cross business.
In this regard, Minsheng securities commented that the meeting pointed out that the digital reform should help the transformation of government functions, comprehensively promote the intensive construction of government application systems in various industries and fields, and build a collaborative and efficient government digital performance capacity system. The construction of digital government mainly focuses on the two aspects of "management" and "office". The government informatization represented by "one network for all" and "one network for unified management" is sinking from the city to the district and county, bringing a large incremental market, and the prosperity of subdivided fields is expected to improve.
Minsheng Securities said that the high-level meeting focused on the development of digital economy and pointed out the key development directions of digital government, natural resource management and financial information and innovation. In the future, the construction of relevant fields is expected to accelerate, the prosperity is expected to improve, and key enterprises are expected to continue to benefit. In the field of digital government, focus on the national team of digital government Cetc Digital Technology Co.Ltd(600850) , Taiji Computer Corporation Limited(002368) and Westone Information Industry Inc(002268) , as well as new point software, Beijing Egova Co.Ltd(300075) , and Fujian Boss Software Corp(300525) ; Recommendation in the field of natural resource management Beijing Supermap Software Co.Ltd(300036) ; The field of financial information and innovation focuses on Digital China Group Co.Ltd(000034) , Talkweb Information System Co.Ltd(002261) , Beijing Tongtech Co.Ltd(300379) , Beijing Vastdata Technology Co.Ltd(603138) , etc.
auto parts stocks active again five link board Ningbo Tianlong Electronics Co.Ltd(603266) open board Company Risk Reminder
Auto parts stocks were active again in the session on the 20th. As of press time, Zhejiang Tieliu Clutch Co.Ltd(603926) limit, Ningbo Tianlong Electronics Co.Ltd(603266) , Changshu automobile, Shanghai Yanpu Metal Products Co.Ltd(605128) , Jiangsu Xinquan Automotive Trim Co.Ltd(603179) rose higher. It is worth noting that Ningbo Tianlong Electronics Co.Ltd(603266) intraday trading was limited for five consecutive trading days, but then opened quickly.
Ningbo Tianlong Electronics Co.Ltd(603266) yesterday issued a risk warning that the short-term increase of the company's stock was significantly higher than that of the industry and the rising index in the same period, and there was a risk of overheating market sentiment. There is no major change in the fundamentals of the company, and there is no major information that should be disclosed but not disclosed. Please pay attention to the trading risks in the secondary market, make rational decisions and invest prudently.
According to the company's self inspection, the current covid-19 pneumonia epidemic in Shanghai, Langfang, Changchun and other places and the corresponding sealing and control measures have resulted in the reduction of auto parts customer orders, logistics and personnel restrictions and other factors, which have had an impact on the company's production and operation activities in the near future. In addition, the company's internal and external business environment and industrial policies have not changed significantly, and there are no major events affecting the abnormal fluctuation of the company's shares. The company is mainly engaged in mold, injection molding and assembly business. It is a secondary supplier in the auto parts industry. The upstream customers are mainly auto parts companies and do not directly supply auto manufacturers. The products are mainly used for automobile parts and electrical appliances. At present, the main source of income of the company is still the auto parts of traditional fuel vehicles, the proportion of new energy vehicle business is very small, and the fundamentals of the company have not changed significantly.
For the sector as a whole, industry insiders said that boosted by the expectation of resumption of work and production in Shanghai, the zero sector rose and the market attention rebounded.
Huachuang Securities said that it is optimistic about the opportunity of re layout of auto parts in the second quarter of 2022. The expectation of high growth rate of the sector in the second half of the year remains unchanged. The expectation of increasing the volume and price of Chinese auto parts due to the improvement of global competitive advantage in the medium and long term remains unchanged. The short-term raw materials and the impact of the epidemic bring the opportunity of undervaluation allocation. At present, it is recommended to Ningbo Tuopu Group Co.Ltd(601689) (Tesla and the landing of new products in 2022), Lizhong Sitong Light Alloys Group Co.Ltd(300428) (integrated die casting) Jiangsu Changshu Automotive Trim Group Co.Ltd(603035) (FAW Volkswagen, intelligent cockpit); It is suggested to pay attention to Ningbo Jifeng Auto Parts Co.Ltd(603997) (FAW Volkswagen BMW, seat assembly), Suzhou Sonavox Electronics Co.Ltd(688533) (Volkswagen, acoustic system), etc.
lithium iron phosphate installed capacity is expected to exceed 60% industrial chain company has layout opportunities (with shares)
Trendforce Jibang consulting believes that as the core component occupying the highest cost of electric vehicles, reducing the cost of power batteries will be an important strategy for enterprises to compete in the future. By virtue of its cost performance advantages, lithium iron phosphate battery is estimated to account for more than 60% of the installed capacity in the global power battery market by 2024. It is expected that the cost performance advantage of lithium iron phosphate battery will be more prominent, and it may become the mainstream of the terminal market in the next 2-3 years. The proportion of global installed capacity of lithium iron phosphate battery and ternary battery will also change from 3:7 to 6:4 in 2024.
Huafu Securities believes that from the second half of 2021, the upstream raw material price of lithium battery has continued to rise. Under the pressure of cost side and the influence of subsidy policy, lithium iron phosphate battery with relatively low price is favored by the market, and the installed capacity accounts for more than ternary battery. This trend will not change in the short term. The price of lithium iron phosphate cathode reflects the current supply and demand pattern, and the sharply rising price has a great positive impact on the profits of Companies in the iron phosphate industrial chain. The total amount of enterprise production expansion plan is large, but the actual implementation will be greatly reduced by factors such as energy consumption, environment and capital. However, the growth of demand is sustained and stable, and the tense relationship between supply and demand may be maintained until 2023. Overall, benefiting from the rapid growth of lithium battery demand, the supply and demand pattern of lithium iron phosphate continues to be tight, and there are layout opportunities for iron phosphate and lithium iron phosphate cathode material companies in the industrial chain. It is suggested to pay attention to Yunnan Yuntianhua Co.Ltd(600096) , Shenzhen Dynanonic Co.Ltd(300769) , etc.
steady growth policy, steel consumption is expected to improve reduce crude steel production, which is conducive to the maintenance of industry profits (with shares)
On the 19th, the national development and Reform Commission, the Ministry of industry and information technology, the Ministry of ecological environment, the National Bureau of statistics and other departments conducted research and deployment on the reduction of crude steel production in 2022, focusing on reducing crude steel production in key areas of air pollution prevention and control such as Beijing, Tianjin and Hebei and surrounding areas, the Yangtze River Delta and Fenwei plain, and reducing crude steel production with poor environmental protection performance, high energy consumption and relatively backward process and equipment level, Ensure the year-on-year decline of national crude steel output in 2022.
Guosen Securities Co.Ltd(002736) metal industry research shows that 1) the pressure drop of crude steel output will help the industry maintain a stable operation and restrain the price of iron ore. Under the pattern of top supply, the profit of black industrial chain is expected to tilt to the steel mill end again. 2) The steady growth policy continued to work, and steel consumption is expected to improve. In terms of real estate, in order to prevent the risk of hard landing, the local real estate market regulation policies tend to be liberalized, and the policies are still increasing, which helps to improve market sentiment. The growth rate of infrastructure investment is also expected to stabilize with the steady growth policy, so as to drive steel consumption and play the role of counter cyclical regulation. 3) Resumption of trading in 2014, the steel sector achieved excess returns under the expectation of weak fundamentals and strong expectations. 4) Investment suggestion: the steel sector in the second quarter is expected to usher in the dual direction policy force of supply and demand, steady growth, underpinning steel consumption, continuous relaxation of real estate policy, year-on-year decline in supply and improvement of industrial exports.
From historical experience, the steel sector, as a pro cyclical target, has achieved a high winning rate of excess return in the wide credit stage. At present, the improvement of demand margin is expected to form a strong support for steel prices, and the controlled crude steel output is conducive to the maintenance of industry profits. In addition, the leading steel plant has achieved outstanding results in reducing cost and increasing efficiency in recent years, the profitability toughness has been repeatedly verified, and maintained a high proportion of cash dividends. Therefore, from the current time point, there is a large space for valuation repair of industry leaders. It is recommended to pay attention to Hunan Valin Steel Co.Ltd(000932) , Baoshan Iron & Steel Co.Ltd(600019) , Xinyu Iron & Steel Co.Ltd(600782) , Sansteel Minguang Co.Ltd.Fujian(002110) .
