Market performance and highlights this week: the European Commission announced the “repowereu” energy plan
Market performance: this week (from May 16 to May 20, the same below), the Shanghai Composite Index closed at 3147 points, up 2.02%; The Shenzhen composite index closed at 11455 points, up 2.64%; The gem index closed at 2417, up 2.51%. In terms of the style of large and small cap, the large cap index rose 2.48% and the small cap index rose 2.42% this week. Since 2022, the market index has fallen by 17.33%, the small index has fallen by 21.30%, and the small / large ratio is 1.21.
Highlights of this week: Shenzhen H&T Intelligent Control Co.Ltd(002402) has made substantial progress in cooperation with Weilai and other vehicle manufacturers; The European Commission announced the “repowereu” energy plan to rapidly promote the transformation of green energy.
Major events of this week: on May 14, Sungrow Power Supply Co.Ltd(300274) issued the second type of restricted stock, with a total number of 6.5 million shares of stock incentive, accounting for 0.44% of the total share capital at that time, and the exercise price is 35.54 yuan / share, which is valid for 5 years. The performance assessment objective of the incentive plan is: Based on the net profit in 2021, the net profit growth rate from 2022 to 2024 shall not be less than 25%, 50% and 80% respectively. On May 20, Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) issued the incentive plan for the second type of restricted stock. The total number of stock incentives was 3.3716 million, accounting for 1.20% of the total share capital at that time, and the exercise price was 4.80 yuan / share, which was valid for 4 years. The performance assessment objective of the incentive plan is: Based on the company’s net profit in 2021, the net profit growth rate from 2022 to 2024 shall not be less than 50%, 100% and 150%.
Special topic of this week: downstream expansion superimposed with domestic substitution, and the laser chip is just at the time of sailing
Industrial upgrading is superimposed with domestic substitution, and the demand for high-power laser chips is expanding. Benefiting from the demand pull of industry, scientific research, military, biomedicine, communication and other fields, the laser market has expanded rapidly. In the most widely used fiber laser field, the market share of Chinese laser manufacturers dominated by Wuhan Raycus Fiber Laser Technologies Co.Ltd(300747) and Chuangxin laser is expanding. Considering factors such as technology upgrading, industrial coordination, cost and industrial chain security, local laser chip manufacturers urgently need to get rid of import dependence and realize localization in the field of laser chips. Local laser chip manufacturers usher in a good opportunity for development.
VCSEL takes into account both efficiency and cost, and the market scale continues to expand. VCSEL takes into account both production cost and reliability, and the limitation of low power is being gradually broken. It is an ideal light source for lidar. In the field of 3D sensing, VCSEL has become the infrared light emitter of 3D structured light and TOF. Driven by multiple factors, the market continued to prosper. Yole predicts that the VCSEL market will reach US $2.351 billion in 2026, with a CAGR of 13.50%.
Overseas manufacturers have complete products and strong comprehensive strength, and Chinese manufacturers have accelerated to catch up and narrow the gap. The global semiconductor laser chip and device market is still dominated by foreign enterprises. The leading manufacturers led by II-VI, lumentum, nlight and IPG have complete industrial chain, wide business scope and leading advantages in technology, scale and industrialization. Local manufacturers such as Changguang Huaxin, Zonghui Xinguang and Shandong Huaguang have gradually caught up in performance and accelerated the completion of product lines, which is expected to occupy a place in the future.
Key recommended themes and stocks
Smart car theme (Juguang technology, Huizhou Desay Sv Automotive Co.Ltd(002920) , Foryou Corporation(002906) , Ingenic Semiconductor Co.Ltd(300223) , Thunder Software Technology Co.Ltd(300496) , Lianchuang Electronic Technology Co.Ltd(002036) , Ningbo Joyson Electronic Corp(600699) , Meig Smart Technology Co.Ltd(002881) , Jingwei hengrun-w); Theme of leisure snacks ( Yanker Shop Food Co.Ltd(002847) , Bestore Co.Ltd(603719) , Three Squirrels Inc(300783) ); Pet and Breakfast theme ( Petpal Pet Nutrition Technology Co.Ltd(300673) , Zhongyin Babi Food Co.Ltd(605338) ); High end manufacturing themes ( Estun Automation Co.Ltd(002747) , Amlogic (Shanghai) Co.Ltd(688099) , Jade Bird Fire Co.Ltd(002960) , Jutze Intelligent Technology Co.Ltd(300802) , Jiangsu Ankura Smart Transmission Engineering Technology Co.Ltd(300617) , Opt Machine Vision Tech Co.Ltd(688686) ).
Risk tip: the economy has fallen sharply; Major changes in capital market reform policies; The prosperity of the industry is lower than expected.
