Industry outlook and configuration suggestions:
New energy vehicles: in the past month, 13 provinces, autonomous regions and cities, including Guangdong, Fujian, Hunan, Jiangxi, Hebei and Hainan, have issued a series of policies for the development of new energy vehicles, promoting the consumption of new energy vehicles and strengthening the construction of charging and switching infrastructure. Among them, the general office of the State Council issued and proposed to support the accelerated development of new energy vehicles and encourage new energy vehicles to go to the countryside; Guangdong, Tianjin, Shandong and other provinces and cities have successively promoted the consumption of new energy vehicles by subsidies and issuing consumption vouchers; Hebei, Hainan, Beijing and other places have successively issued plans for charging and replacing power facilities and plans for rapidly promoting construction. 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.
Recommendations include: Ningbo Shanshan Co.Ltd(600884) Eve Energy Co.Ltd(300014) , Shenzhen Dynanonic Co.Ltd(300769) , Farasis Energy (Gan Zhou) Co.Ltd(688567)
New energy power generation: Recently, the leading enterprises of the whole Shanxi Guoxin Energy Corporation Limited(600617) industry signed centralized contracts for major new energy industry projects with a total investment of 125.8 billion yuan in Wenzhou. The total number of projects is 12, of which 6 projects have an investment of more than 10 billion yuan. Previously, Zhejiang has issued support policies for offshore wind power development, vigorously promoted the “scenery doubling project”, and started 1 million KW and Shanghai Pudong Development Bank Co.Ltd(600000) kW grid connection in 2022. We expect that the long-term space of wind power and photovoltaic will be further enlarged in the future.
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: Contemporary Amperex Technology Co.Limited(300750) and Aichi automobile signed the cooperation framework agreement of evogo power exchange project to jointly create a new benchmark of power exchange mode. According to the cooperation agreement, the two sides will jointly develop the combined power exchange model with the first model of Aichi U5 as the carrier, and plan to launch it to the market in the fourth quarter of 2022. The owners of Aichi who choose the combined power exchange version will enjoy the evogo power exchange service of vehicle power separation, on-demand power distribution and rechargeable and replaceable. The project is operated by Shidai electric service, a wholly-owned subsidiary of Contemporary Amperex Technology Co.Limited(300750) company.
New energy power generation: the notice of the Energy Bureau of Inner Mongolia Autonomous Region on printing and distributing the action plan for the construction of Mengxi new power system (version 1.0), which proposes to build a national wind power photovoltaic base and give full play to the basic role of Mengxi power market in the national unified power market system. Focus on the layout of large-scale wind power photovoltaic bases focusing on Kubuqi, Ulanbuhe, Tengger and Badain Jaran deserts.
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.
