[today’s Guide]
The devaluation of RMB plus tariff exemption has significantly recovered after the epidemic in this industry
Tesla and Mercedes Benz are competing for the ideal next-generation cathode material
At the end of the three-year action of state-owned enterprise reform, this industry is the key area of previous reforms
Full capacity! The giant has to raise prices, and the profits of relevant companies doubled in the first quarter
Research specific measures to support the healthy development of the platform economy. This company has included many business resources
Accelerate infrastructure construction and systematically promote the construction and development of 5g, gigabit optical network and data center
[subject details]
RMB devaluation plus tariff exemption, the industry recovered significantly after the epidemic
On May 18, according to the press conference on epidemic prevention and control in Shanghai, in the early stage, in view of the problems of poor trade chain, blocked collection and distribution channels and low port operation efficiency, Shanghai Customs successively launched 10 measures to fight the epidemic, protect people’s livelihood, help enterprises and promote development, as well as the notice to speed up the customs declaration and withdrawal of goods at Shanghai port, in conjunction with the customs of the Yangtze River Delta region to ensure the safety and stability of the supply chain of the industrial chain. Customs data show that since late April, the freight volume and total import and export value of Shanghai port have gradually stabilized and rebounded.
On April 13, the executive meeting of the State Council decided to further strengthen policy support such as export tax rebate to promote the steady development of foreign trade. The meeting pointed out that in order to promote the steady development of foreign trade, we should give better play to the policy effectiveness of export tax rebate, which is inclusive, fair and in line with international rules, and optimize the foreign trade business environment. We will improve the efficiency of customs clearance for the return of export goods, formulate policies to facilitate the return and exchange of goods by cross-border e-commerce, provide more convenience for customs clearance and tax refund of trustworthy enterprises, and severely punish acts such as defrauding tax rebates. Kaiyuan Securities pointed out that the expectation of RMB depreciation is expected to thicken the export enterprises dominated by foreign currency settlement through exchange earnings. On the other hand, the sea freight rate continues to decline, superimposed with tariff exemption, and the improvement of various factors is expected to drive the boom recovery of the export industry, which is conducive to the recovery of the valuation of enterprises with a high proportion of overseas.
Among A-share listed companies, Guangdong Dcenti Auto-Parts Stock Limited Company(603335) the main business is automobile aluminum alloy wheels and automobile tires. It has 13 sales chain subsidiaries and 12 warehousing and transit logistics bases in North America. The company’s overseas market revenue accounted for 78% in 2021 Hunan Huasheng Co.Ltd(600156) the main export markets are the European Union, the United States, South Korea, Japan, South America and other countries and regions. The company’s overseas revenue accounted for more than 83% in 2021 Jiangsu Jujie Microfiber Technology Group Co.Ltd(300819) Anhui “superfine fiber fabrics and finished products reconstruction and expansion project” has been put into operation successively, and the “superfine fiber impregnated fabrics construction project” is currently under construction. In 2021, export products accounted for 53.07% of the company’s operating revenue.
ideal next generation cathode material, Tesla and Mercedes Benz compete to enter the market
Contemporary Amperex Technology Co.Limited(300750) will become the battery supplier of Mercedes Benz electric G-class vehicles. The previous day, there was news in the industry that Mercedes Benz will adopt a new high-energy density battery in its G-class from 2025. The battery uses silicon-based anode, and the energy density is 20-40% higher than that of similar batteries currently available. Informed sources told reporters that the battery was provided by Contemporary Amperex Technology Co.Limited(300750) and the negative material came from California start-up Sila nanotechnology.
The capacity of carbon based material is more than 4200mg / h, which is regarded as the highest capacity of carbon based material than that of silicon-based material. Compared with the current generation of negative material, the capacity of carbon based material is more than 4200mg / h Citic Securities Company Limited(600030) pointed out that it is expected that 4680 batteries will usher in the first year of explosion in 2023. After that, with the follow-up layout of China’s external battery suppliers, it will drive the explosion of silicon-based materials. It is expected that the shipment of silicon-based negative electrodes will reach 98000 tons in 2025 (the compound annual growth rate from 2021 to 2025 will reach 53%), and the corresponding market size is about 15 billion yuan, including 87000 tons of power batteries, with the corresponding market size of 13.2 billion yuan, accounting for 88%.
Among the A-share listed companies, Chengdu Guibao Science & Technology Co.Ltd(300019) silicon-based negative electrode related products have passed the evaluation of several battery manufacturers and achieved small batch supply. The company is actively carrying out cooperation with Contemporary Amperex Technology Co.Limited(300750) Beiteri silicon-based negative electrode materials, a China Baoan Group Co.Ltd(000009) subsidiary, is sold to customers at home and abroad. At present, it is mainly for export. It plans to invest in the project of silicon-based negative electrode materials with an annual output of 40000 tons in Guangming District, Shenzhen Hunan Zhongke Electric Co.Ltd(300035) continues to invest in silicon-based negative electrode, and has accumulated technology and related products. At present, the pilot production line has been built, and some products have been sent to customers for sample testing.
the year when the three-year action of state-owned enterprise reform ended, this industry is the key area of previous reforms
Weng Jieming, deputy director of the state owned assets supervision and Administration Commission of the State Council, said at the special promotion meeting on deepening the reform of state-owned holding listed companies and striving to be a three-year action model for the reform of state-owned enterprises that it is necessary to continue to strengthen the injection of high-quality assets into listed companies. Group companies should systematically sort out unlisted and listed resources, and gradually inject the existing unlisted high-quality assets into listed companies in a planned way in line with the actual situation. If necessary, they can also be listed separately.
2022 is the final year of the three-year action of decisive victory in the reform of state-owned enterprises. The 2022 government work report mentioned that the three-year action task of state-owned enterprise reform should be completed, the layout optimization and structural adjustment of the state-owned economy should be accelerated, the supervision of state-owned assets should be strengthened, state-owned enterprises should focus on the main responsibility and main business, and the support and driving ability of industrial chain and supply chain should be improved. On January 17, the office of the leading group for state owned enterprise reform of the State Council held a special promotion meeting on the three-year action of state owned enterprise reform by video. The meeting stressed that 2022 is the year of ending the three-year action of decisive battle and victory in the reform of state-owned enterprises. It is necessary to lock in and complete key tasks with high quality, make up weaknesses, strive for reform effectiveness, stabilize and institutionalize reform achievements, and ensure an all-round victory Northeast Securities Co.Ltd(000686) believes that the military industry is the key area of previous state-owned enterprise reforms, and accelerating the asset securitization process of military enterprises is the top priority. Among them, there is still a lot of space for the asset securitization of China Electronics Technology Group. Many listed companies of CETC group have put forward the strategic goal of market value of 100 billion during the year, indicating that there may still be state-owned assets injection in the future.
Among the A-share listed companies, Gci Science & Technology Co.Ltd(002544) said that as one of the listed companies subordinate to CETC, the company can obtain the support of CETC in terms of resource allocation, industrial integration and regional layout Eastcompeace Technology Co.Ltd(002017) said that as a state-owned holding company, the diversified businesses and positions of the controlling shareholder Dongxin group and the actual controller CETC can bring resource support to the company Chengdu Spaceon Electronics Co.Ltd(002935) the parent company is the 10th Research Institute of China Electronics Technology Group Corporation, and China Electronics Technology Group Co., Ltd. is the actual controller of the company.
full capacity! Giants also have to raise prices, and the profits of relevant companies doubled in the first quarter
The profits of semiconductor manufacturing sector grew strongly, and the performance of domestic wafer foundry Semiconductor Manufacturing International Corporation(688981) , Huahong semiconductor, reached a new high in the first quarter of this year.
At the same time, a number of international wafer foundry giants recently heard the voice of price rise again. TSMC, the foundry of wafers, informed customers that the foundry price of wafers will be comprehensively increased by 6% from January next year. Some TSMC customers have confirmed that they have received the price increase notice.
According to the data of the first quarterly report of Semiconductor Manufacturing International Corporation(688981) 2022, the company achieved an operating revenue of 11.854 billion yuan, a year-on-year increase of 62.6%; The net profit attributable to the parent company was 2.843 billion yuan, a year-on-year increase of 175.5%, all reaching a new high; Among them, the capacity utilization rate reaches 100.4%, which is in full load state. According to the first quarter report data of Huahong semiconductor in 2022, the company realized an operating revenue of 594.6 million US dollars, an increase of 95.1% year-on-year and 12.6% month on month. The net profit attributable to the parent company was US $103 million, with a year-on-year increase of 211.4% Tianfeng Securities Co.Ltd(601162) pointed out that the shortage of chips has accelerated the speed of capacity expansion. The growth trend of global equipment sales in the next two years is clear, and A-share semiconductor equipment materials have great growth potential. The former Haizheng of East Asia believes that TSMC and other leading global wafer foundry enterprises achieved year-on-year rapid growth in the first quarter, which further confirms that the prosperity of the semiconductor industry remains unchanged. It is suggested to focus on local automobile chip manufacturers.
Among the A-share listed companies, Wuxi Nce Power Co.Ltd(605111) has become one of the semiconductor power device design companies with the largest chip investment of China’s 8-inch and 12 inch chip process platform, and the overall production capacity continues to grow Hangzhou Chang Chuan Technology Co.Ltd(300604) products have been used and recognized by many first-class integrated circuit enterprises such as Jcet Group Co.Ltd(600584) , Tianshui Huatian Technology Co.Ltd(002185) , Tongfu Microelectronics Co.Ltd(002156) , Hangzhou Silan Microelectronics Co.Ltd(600460) , China Resources Microelectronics Limited(688396) electronics, riyueyue and so on Suzhou Huaya Intelligence Technology Co.Ltd(003043) semiconductor products are mainly precision metal structural parts used in semiconductor equipment such as wafer etching control, chemical vapor deposition and wafer detection.
research specific measures to support the healthy economic development of the platform. This company has included many business resources
The CPPCC National Committee held a special consultation meeting on “promoting the sustainable and healthy development of digital economy”. The high-level pointed out that we should support the sustainable and healthy development of platform economy and private economy, and study specific measures to support the standardized and healthy development of platform economy; Increase direct government investment, improve the digital quality of the whole nation, and support digital enterprises to be listed on capital markets outside China.
Since the anti-monopoly guidelines for the platform economy were released in November 2020, the central economic work conference in December of the same year made it clear for the first time that “strengthening anti-monopoly and preventing disorderly expansion of capital” and the two important meetings of “strengthening anti-monopoly and anti unfair competition law enforcement and justice” of the central political and legal work conference in January 2021 strengthened the signal, and the platform economy began to enter the stage of strict supervision and strong rectification Haitong Securities Company Limited(600837) analysis points out that the platform business is closely related to the recovery of economy and consumption. When the policy interference is removed and the attitude is changed to positive, the platform company ushers in valuation repair in the short term, but in the long term, we need to pay attention to the stocks with strong performance after “normalized epidemic prevention”.
Among A-share listed companies, Xingluo, a subsidiary of Beijing Zhidemai Technology Co.Ltd(300785) s, has collected many business resources from tmall, jd.com, Suning, pinduoduo, Tiktok and other platforms, and has achieved accurate matching between people and goods by docking with massive media resources Saturday Co.Ltd(002291) is developing a SaaS platform serving the clothing field based on the “distant cloud”. The platform is planned to serve a large number of clothing anchors and realize the whole process digital s2b2c platform.
accelerate infrastructure construction and systematically promote the construction and development of 5g, gigabit optical network and data center
The world telecommunication and information society day conference was held in Hohhot, Inner Mongolia. Zhang Yunming, member of the Party group and vice minister of the Ministry of industry and information technology, said at the meeting that we should speed up infrastructure construction, systematically promote the construction and development of 5g, gigabit optical network and data center, as well as the transformation and upgrading of traditional infrastructure, and build development support; We will promote the transformation of the real economy, set sail for 5g applications, upgrade the industrial Internet, and cultivate momentum for development.
At present, China has built nearly 1.6 million 5g base stations, making it the first country in the world to build 5g networks on a scale based on independent networking mode. At present, 5g applications cover many life fields such as transportation, medical treatment, education, culture and tourism, with a total of more than 20000 cases. According to the data released by the Ministry of industry and information technology in April, 1340005g base stations were added in China in the first quarter, with a total of 1.559 million completed and opened. The 5g network has covered all prefecture level cities and counties, urban areas and more than 87% of towns and townships in China.
Among the listed companies, Wuhan Fingu Electronic Technology Co.Ltd(002194) main product filters are widely used in 5g base stations. The company’s main customers are Huawei, Ericsson, Nokia and other major global communication equipment integrators Guomai Technologies Inc(002093) actively participate in 5g network construction of major operators, covering Fujian, Guangdong, Heilongjiang, Liaoning, Shanxi and other major provinces in China Fuchun Technology Co.Ltd(300299) in terms of 5g construction, Yiyi said that the company continued to provide planning and design business for operators and government and enterprise customers. At the same time, relying on the market customer advantages of front-end planning and design, the company continued to expand the market of projects in many fields such as digital empowerment and actively participated in new infrastructure construction.
