[today's Guide]
After photovoltaic, the lithium battery giant obtained the first access certificate under the new European regulations
Life expectancy per capita may reach more than 80 years old, and the "silver economy" has become another blue ocean of consumption
The consumption of single cars has doubled, and the automotive industry has become the fastest-growing segment of the product
Apple's next most important new product is ready to go, or will create new market demand
With the intensive introduction of rescue policies, industry companies are expected to make profits in a single month or quarter
In the first four months, 20 projects in the field of hydrogen energy were invited for bidding, and Qingdao will orderly promote the construction of hydrogen refueling stations
In April, the installed capacity of lithium iron phosphate power battery increased by 169%
[subject details]
after photovoltaic, the lithium battery giant obtained the first access certificate under the new European regulations
Contemporary Amperex Technology Co.Limited(300750) won the world's first European Economic Commission R100 issued by the German Ministry of transport Power system certificate 03. Taking the lead in obtaining the certificate represents the high recognition of Contemporary Amperex Technology Co.Limited(300750) quality first safety concept and battery system capability by the European Economic Commission. Regulation No. 100 issued by the Economic Commission for Europe is an internationally recognized general requirement applicable to the electrical safety of electric vehicles. The 03 series of amendments to the regulation came into force in June 2021.
In the power battery system, the 30075 revenue in 2021 was 91.5 billion yuan, a year-on-year increase of 132%; The shipment volume was 117gwh, with a year-on-year increase of 163%, and the market share ranked first in the world (accounting for 33%); The gross profit margin was 22.0%, which decreased by 4.6 percentage points year-on-year due to the rise in the price of raw materials. The company has taken price raising measures Shanxi Securities Co.Ltd(002500) pointed out that the rising momentum of raw materials has ended recently. With the increase of the price of new energy vehicles, the price of power battery cells has increased, and the gross profit margin of battery manufacturers has improved. Considering that the valuation of the lithium battery sector is at the bottom in recent years, the increasing demand for energy storage, and the sales of new energy vehicles in downstream non epidemic areas are still strong, it is optimistic that the volume and price of relevant companies in the lithium battery industry chain will rise in the later stage.
Among A-share listed companies, Jiangxi Shenghua, a subsidiary of Mianyang Fulin Precision Co.Ltd(300432) invested in the construction of a 50000 ton lithium iron phosphate cathode material project in Shehong, Sichuan in early 2021. The project reached production capacity in December 2021 and is supplying Contemporary Amperex Technology Co.Limited(300750) and other major customers in batches Tianyi lithium Co., Ltd., jointly funded by Suzhou Ta&A Ultra Clean Technology Co.Ltd(300390) and Contemporary Amperex Technology Co.Limited(300750) and other enterprises, has fully released the capacity of the phase I project with an annual output of 20000 tons of battery grade lithium hydroxide Lecron Industrial Development Group Co.Ltd(300343) at present, the total planned capacity of PVDF is 64000 tons, and PVDF products have been supplied to Contemporary Amperex Technology Co.Limited(300750) normally.
per capita life expectancy or over 80 years old, "silver economy" has become another blue ocean of consumption
The general office of the State Council printed and distributed the national health plan for the 14th five year plan. The plan proposes that by 2025, the health system will be improved, the basic medical and health system with Chinese characteristics will be gradually improved, the ability to prevent and respond to major epidemics and public health emergencies will be significantly improved, the unique advantages of traditional Chinese medicine will be further brought into play, the ability of health science and technology innovation will be significantly enhanced, the per capita life expectancy will continue to increase by about one year on the basis of 2020, and the per capita health life expectancy will be increased in the same proportion. Looking forward to 2035, we will establish a health system suitable for the basic realization of socialist modernization, improve the basic medical and health system with Chinese characteristics, achieve a per capita life expectancy of more than 80 years, and gradually increase the per capita health life expectancy.
According to the population data of the seventh census, in 2020, China's population over the age of 65 accounted for 13.5%. Compared with the results of the sixth census in 2010, the population over the age of 65 accounted for 8.87%, an increase of 4.63 PCT, which further deepened the degree of aging in China. When the proportion of people over 65 years old reaches 7% / 14% / 21% respectively, the society enters the standard of mild / moderate / severe aging. At present, China is close to the level of moderate aging. According to the decision on optimizing Fertility Policies and promoting long-term balanced population development issued by the State Council, it is expected that China will enter the stage of moderate aging during the 14th Five Year Plan period and the stage of severe aging in 2035. China is already in the stage of accelerated development of aging China Securities Co.Ltd(601066) analysis points out that the market scale of China's pension industry reached 6.57 trillion in 2018 and is expected to reach 10.29 trillion in 2022, with a compound growth rate of 11.9%. China's pension industry is a trillion blue ocean market and has huge development space in the future.
Among A-share listed companies, Jinling Pharmaceutical Company Limited(000919) health care service operates a combination of medical and nursing institutions to provide integrated and systematic services for the elderly from medical services, rehabilitation nursing, health management, elderly care and so on Guangdong Transtek Medical Electronics Co.Ltd(300562) health bracelet, sphygmomanometer and other medical and health products can be used for the management of chronic diseases in the elderly Lushang Health Industry Development Co.Ltd(600223) healthy real estate has formed a series of products such as healthy housing, healthy real estate and cultural tourism real estate.
single vehicle consumption has doubled, and the automotive industry has become the fastest-growing segment of the product
With the development of electric and intelligent vehicles, the shipment of on-board cameras has increased, and the consumption of CIS per vehicle has doubled. The automotive field will continue to become the fastest-growing segment of CIS. According to media reports, "at present, CIS is almost the only option in the vehicle field". With the rapid development of automotive intelligence, CIS is ushering in a good opportunity to "get on the bus".
CIS (CMOS image sensor), namely complementary metal oxide semiconductor image sensor, has occupied an absolutely dominant position in the market with its advantages of low cost, small volume and low power consumption. The camera has the characteristics of good object classification and recognition performance and low price. It plays an irreplaceable role and has high cost performance in ADAS system. The improvement of automatic driving level will drive the growth of the number of cameras. The camera carrying scheme of the new forces of car building is more radical, and the electrification trend increases the camera carrying capacity. The new energy vehicle adopts the electrified structure, which is naturally suitable for ADAS, while the mechanical structure of the traditional fuel vehicle needs to be greatly adjusted to realize the instantaneous response through electronic technology. Therefore, the camera carrying capacity presents the characteristics of high new energy vehicle and low fuel vehicle. For example, the Aquila hypersensitive system of et7 released by Weilai automobile in 2021 is equipped with 11 8-megapixel HD cameras, and the number and pixels of cameras have been upgraded. According to icinsights data, the global CIS market is expected to reach US $33.6 billion by 2025, including US $15.7 billion for mobile phone CIS market, US $5.1 billion for automobile CIS market and US $3.2 billion for security CIS market.
Among the A-share listed companies, China Wafer Level Csp Co.Ltd(603005) focuses on the advanced packaging technology services in the sensor field represented by CIS. The company has passed the audit and certification of customers in the automotive electronics field and has achieved mass production.
Shenzhen Txd Technology Co.Ltd(002845) said that the whole process of gold bump packaging and testing project of the company's cooperation with Kunshan rimoonlight is mainly used in the field of display driver IC and CIS chip, with a wide market space Galaxycore Inc(688728) products have been applied in the field of automotive electronics. The construction period of the company's 12 inch CIS integrated circuit characteristic process R & D and industrialization project is two years. After the project is completed, the company will have the capacity to produce 20000 BSI wafers per month.
Apple's next most important new product is ready to go, or will create new market demand
According to people familiar with the matter, Apple's senior executives showed the upcoming AR / VR hybrid reality headset to the board last week, indicating that its research and development has entered an advanced stage. In addition, Apple has accelerated the development of the device operating software ROS, indicating that this product may debut for the first time in the next few months.
It is reported that the "hybrid reality" headset device, which combines virtual reality (VR) and augmented reality (AR), is expected to become the company's next most important new product since the launch of Apple watch in 2015. Apple can not only take this opportunity to expand its hardware equipment business, which contributes 80% of its annual sales, but also enter the emerging track of hybrid reality head show, which is still in its infancy. According to the latest quarterly tracking report of global AR / VR head display market in the fourth quarter of 2021 released by IDC, the global AR / VR head display volume reached 11.23 million units in 2021, with a year-on-year increase of 92.1%. Among them, the volume of VR head shows up to 10.95 million units, breaking through the important inflection point of the industry with an annual shipment of 10 million units. New entrants and wider commercial applications will accelerate the growth of AR / VR head display volume. It is expected that the shipment volume in 2022 will increase by 46.9% year-on-year, and the global shipment volume is expected to reach 50 million units in 2026, with a compound annual growth rate of 35.1%.
Among A-share listed companies, Wuhu Token Sciences Co.Ltd(300088) provides the latest VR quest2 display module for Facebook and VR head display module for Chinese VR giants Union Optech Co.Ltd(300691) currently has the ability to integrate parts and complete machine assembly. In 2021, the company's AR / VR shipment volume has been nearly 50000 units Lianchuang Electronic Technology Co.Ltd(002036) said that the relevant lens products developed by the company for magic leap, an international well-known company, have been shipping, and there is a panoramic lens cooperation with Facebook.
rescue policies are intensively introduced, and industry companies are expected to make profits in a single month or quarter
Under the influence of the epidemic, the rescue policy of the civil aviation industry continued to increase. When the Party group of CAAC held a meeting on May 10, it said that it should actively promote the recovery and development of the industry, pay close attention to studying the ideas, measures and support policies of the CPC Central Committee and the State Council on helping the civil aviation industry, formulate practical implementation measures, actively promote the implementation, and achieve results in the recovery and development of the industry as soon as possible.
With the improvement of civil aviation passenger transport situation in early 2021? The volume briefly recovered to the same period in 2019. After that, due to the repeated epidemic in China, civil aviation passenger transport? The volume has not exceeded the same period in 2019; In March 2022, due to the outbreak of the epidemic in major cities in China, civil aviation passenger transport? Volume fell 67.9% year-on-year, only 29% of the same period in 2019. In the face of the difficulties of the civil aviation industry, the State Council and relevant departments have intensively issued relief policies, covering tax relief, loan concessions, subsidies and other aspects, reducing the annual burden of air transport enterprises by about 10 billion yuan and 20 billion yuan in two years. In February this year, 14 departments including the national development and Reform Commission jointly issued several policies on promoting the recovery and development of difficult industries in the service industry, and formulated inclusive support policies for difficult service industries and targeted relief measures for the civil aviation industry. Anxin securities analysis pointed out that at this time point, this round of epidemic itself has reached an inflection point, and the supply and demand of aviation is gradually recovering. Later, if the summer transportation can see that China's demand and ticket prices exceed the epidemic for one month or more, the airline company may make a profit in a single month or quarter. Anxin Securities believes that in the long run, it is still optimistic about the reversal of industry supply and demand after the epidemic, and the performance reversal caused by the rise of ticket prices.
Among the A-share listed companies, Juneyao Airlines Co.Ltd(603885) owns 82 Airbus A320 series aircraft and 6 Boeing B787 series aircraft. Its subsidiary, Jiuyuan airlines, is the only low-cost airline with a main base in Guangzhou China Express Airlines Co.Ltd(002928) said that the company has long cut into the branch line field which is still blank at that time. After more than ten years of hard work, the company has grown into a leader in China's branch line air transportation China Southern Airlines Company Limited(600029) fleet ranks first in China, with the most intensive route network, forming a developed route network that intensively covers China, comprehensively radiates Asia and effectively connects Europe, America, Australia and Africa.
in the first four months, 20 projects in the field of hydrogen energy were invited for bidding, and Qingdao will orderly promote the construction of hydrogen refueling stations
According to incomplete statistics of industry media, from January to April, there were 20 tenders involving hydrogen energy, with an amount of 723 million, involving hydrogen production, fuel cell, fuel cell vehicle, EPC and so on. The bidding units include China Petroleum & Chemical Corporation(600028) , national energy group, Guohua investment, Pengfei group and other enterprises. Recently, the Qingdao Municipal Development and Reform Commission pointed out in the "14th five year plan for energy conservation in Qingdao" (Draft for comments): encourage the application of hydrogen energy and other key industries, orderly promote the construction of hydrogen refueling stations, and carry out the demonstration and promotion of hydrogen fuel cell vehicles.
As an important part of China's modern energy system, hydrogen energy has high combustion heat and zero carbon emission reduction. It is the "ultimate clean energy" to achieve the goal of "double carbon" Shenwan Hongyuan Group Co.Ltd(000166) securities Zheng Jiawei pointed out that since 2022, the national level has accelerated the introduction of relevant top-level designs to encourage the development of hydrogen energy industry chain, making it clear that hydrogen energy is an important part of the future national energy system and an important carrier for energy consumption terminals to realize green and low-carbon. The state actively promotes the development and terminal application of key parts of fuel cell stack in the fields of manufacturing, storage, transportation, processing and fuel cell stack. According to the prediction of China gas energy alliance, the output value of China's hydrogen energy industry will reach 1 trillion yuan from 2020 to 2025 and 5 trillion yuan from 2026 to 2035.
Among the listed companies, Beijing Jingcheng Machinery Electric Company Limited(600860) produced 70MPa high-pressure aluminum liner carbon fiber fully wound composite gas cylinders (hydrogen storage cylinders) have been applied in batch in the field of hydrogen fuel cell vehicles and fuel cell standby power supply Guanghui Energy Co.Ltd(600256) formulated the outline of the strategic plan on January 25, taking new energy power generation - hydrogen production from electrolytic water as a breakthrough, using hydrogen energy for transportation and green power for production and operation, and striving to transform into China's leading enterprise in the development of the whole hydrogen energy industry chain from 2022 to 2030.
in april, the installed capacity of lithium iron phosphate power battery increased by 169%
According to the statistical analysis of the monthly database of power battery installed capacity released, from the perspective of installed capacity and battery types, the installed capacity of lithium iron phosphate power battery in April 2022 was about 7.03gwh, with a year-on-year increase of 169%, accounting for 57% of the total installed capacity; The installed capacity of ternary power battery is about 5.20gwh, with a year-on-year increase of 4%, accounting for 42% of the total installed capacity.
According to Soochow Securities Co.Ltd(601555) Liu Qiang's research report, benefiting from the rapid development of production and sales of new energy vehicles, the increase of penetration rate and the increase of the proportion of lithium iron phosphate power battery, and its future development in the field of energy storage, if the promotion is successful, we expect the global demand for lithium iron phosphate to increase from 136000 tons in 2020 to 2724000 tons in 2025, and the gagr is as high as 82%.
Among the listed companies, Shenzhen Dynanonic Co.Ltd(300769) is the leading enterprise of lithium iron phosphate. The company's current capacity of lithium iron phosphate is 150000 tons / year. The projects expected to be put into operation in 2022 include Qujing Defang Yiwei nano lithium iron phosphate production base project with an annual output of 100000 tons and Yibin German era nano lithium iron phosphate project with an annual output of 80000 tons Hunan Hunan Changyuan Lico Co.Ltd(688779) new energy Co., Ltd., a wholly-owned subsidiary of Hunan Changyuan Lico Co.Ltd(688779) intends to invest in the construction of lithium iron phosphate cathode material project with an annual output of 60000 tons, with a total investment of about 2.088 billion yuan.
