Industry outlook and configuration suggestions:
New energy vehicles: on the evening of April 16, the Shanghai Economic and Information Technology Commission issued the guidelines for the prevention and control of the epidemic situation of industrial enterprises returning to work and production in Shanghai, which implemented closed-loop management on the premise of ensuring controllable risks, effectively and orderly promoted the resumption of work and production of enterprises, and ensured the stability of industrial chain supply. On April 22, 70% of 666 key enterprises in Shanghai have resumed work and production. On April 18, Contemporary Amperex Technology Co.Limited(300750) Shanghai Lingang Holdings Co.Ltd(600848) factory resumed production; On April 19, Tesla Shanghai Super factory resumed work; On April 19, Saic Motor Corporation Limited(600104) completed the resumption of work and production pressure test in the port passenger car factory, and the first vehicle was offline. 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: the National Energy Administration released the statistical data of the national power industry from January to March. By the end of March, China's installed power generation capacity was about 2.4 billion kw, a year-on-year increase of 7.8%. Among them, the installed capacity of wind power was about 340 million KW, a year-on-year increase of 17.4% The installed capacity of Cecep Solar Energy Co.Ltd(000591) power generation was about 320 million KW, with a year-on-year increase of 22.9%, and the newly installed capacity of photovoltaic was 13.2gw, with a year-on-year increase of 148%. From January to March, the investment in power supply projects of major power generation enterprises in China was 81.4 billion yuan, a year-on-year increase of 2.5%. Among them, Cecep Solar Energy Co.Ltd(000591) power generation was 18.8 billion yuan, a year-on-year increase of 181%. The investment in power grid projects was 62.1 billion yuan, a year-on-year increase of 62.1%.
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:
New energy vehicles: the Ministry of industry and information technology publicized the 355th batch of announcement on road motor vehicle manufacturers and products. According to the statistics of battery China, among the models publicized in this batch, there are 67 electric passenger vehicles. Among them, there are 28 ternary battery models, 36 lithium iron phosphate models, and another 3 models do not indicate the type of lithium battery. LG new energy and others plan to sign cooperation agreements with antam (Indonesian state-owned mining enterprise) and IBI (Indonesian national oil company) to invest US $9 billion to build a power battery supply chain.
New energy power generation: Guizhou Energy Bureau and Guizhou development and Reform Commission jointly issued the "14th five year plan" for the development of new and renewable energy in Guizhou Province. The plan points out that by the end of 2025, the installed capacity of new and renewable energy power generation will reach more than 65.46 million KW. Among them, the installed capacity of hydropower is 22.81 million KW, the installed capacity of wind power is more than 10.8 million KW, the installed capacity of photovoltaic power generation is more than 31 million KW, and the installed capacity of biomass power generation is 850000 kW.
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.
