This week’s view
This week, the new energy vehicle index stabilized and rebounded, and the decline of photovoltaic and wind power sectors slowed down. The performance of individual stocks that exceeded expectations increased significantly, and there were more positive signals in the sector.
After December, the expectation of US stock interest rate increase and capital factors led to a general correction of growth stocks, and there was no significant change in the industry fundamentals. With the continuous expansion of the overall scale of the new energy industry and the supply and demand of upstream and downstream industrial chains, the industry gradually switched from price to sales from 2022 to 2023. At present, the overall adjustment of the whole new energy sector is relatively sufficient, and the valuation has dropped to a relatively reasonable range, superimposing the high growth rate of the industry this year. We believe that the current time point is a better time point for configuring the new energy sector in 2022.
Market performance
This week, the Shanghai Composite Index fell 1.63% to close at 3521.26; CSI 300 fell 1.98% to close at 4726.73; CITIC power new energy industry index rose 0.36%, outperforming the CSI 300 index by 2.34%. In terms of sub sectors, the new energy vehicle index rose 0.99%, the photovoltaic index fell 1.39% and the wind power index fell 2.42%.
Some company dynamics
Yunnan Energy New Material Co.Ltd(002812) (002821. SZ) announced on the evening of January 14 that Shanghai Enjie, the holding subsidiary of the company, signed an agreement with a large overseas vehicle enterprise that Shanghai Enjie and its subsidiaries would guarantee the supply of lithium battery isolation films to the cooperative customers from 2022 to 2024 to no more than 1.65 billion square meters; From 2025, Shanghai Enjie and its subsidiaries guarantee that the quantity of lithium battery isolation membrane supplied to this cooperative customer will not exceed 900 million square meters / year. (company announcement)
Shanghai Putailai New Energy Technology Co.Ltd(603659) (603659. SH) disclosed the performance forecast of 2021 in the evening of January 13. The company’s financial department preliminarily predicted that the net profit attributable to shareholders of Listed Companies in 2021 would reach 1.7 billion yuan to 1.8 billion yuan, an increase of 1.032 billion yuan to 1.132 billion yuan, a year-on-year increase of 154.63% to 169.61% compared with the same period of last year (statutory disclosure data). It is estimated that the net profit attributable to the shareholders of the listed company after deducting non recurring profits and losses will be 1.6 billion yuan to 1.7 billion yuan, an increase of 976 million yuan to 1.076 billion yuan, a year-on-year increase of 156.54% to 172.57% compared with the same period of the previous year (legally disclosed data). (company announcement)
Risk tips
The risk of intensified market competition, repeated epidemic and subsidy policy.
