Core view of this week: according to the data of China Automobile Association, the automobile sales volume in 2021 was 26.275 million, with a year-on-year increase of 3.8%, ending the three consecutive declines since 2018. In the first week of 2022, the average daily retail sales of passenger cars was 58000, with a year-on-year increase of 6%. On the basis of the high base in January last year, it achieved good performance, and the demand continued to recover. We recommend three main lines:
(1) independent brand leaders with strong new product cycle: Great Wall Motor Company Limited(601633) , Byd Company Limited(002594) .
(2) parts enterprises closely related to the electric intelligent industrial chain with high growth certainty: Huizhou Desay Sv Automotive Co.Ltd(002920) , Guangdong Senssun Weighing Apparatus Group Ltd(002870) , Zhejiang Sanhua Intelligent Controls Co.Ltd(002050) , Changzhou Xingyu Automotive Lighting Systems Co.Ltd(601799) , Shandong Linglong Tyre Co.Ltd(601966) .
(3) heavy truck enterprises with increasing market share and expected to usher in a performance inflection point: Sinotruk Jinan Truck Co.Ltd(000951) .
According to the data of the passenger Federation: it is estimated that 58000 vehicles were retailed on the first Sunday of January, with a year-on-year increase of 6%, with a good performance; On the first Sunday, 52000 vehicles were wholesale, a year-on-year decrease of 4%, and the performance was relatively stable. From October to December 2021, with the ease of core shortage, automobile production improved significantly; Retail sales rebounded significantly in early January and continued to strengthen compared with the same period in 2021. Due to the advance of the Spring Festival in 2022, it promoted the enthusiasm of goods preparation and inventory increase in December last year, driving the growth of wholesale. Therefore, the beginning of January was relatively stable.
Important information: General ultracruise will be equipped with Qualcomm snapdragonride platform; Xiaopeng leads the investment of Yijing technology with hundreds of millions of yuan of pre-C round financing; Xiaopeng’s price of the whole department increased by 4300 yuan due to the decline of subsidies; Maxieye of intelligent driving technology releases the pilot assistance driving function NOM; Youpao released up super chassis and three upspace concept cars; Anbofu acquired Fenghe with us $4.3 billion; In 2021, Volkswagen group sold 8.882 million vehicles and 453000 pure electric vehicles; WeiPai Mocha dht-phev starts pre-sale, and the pre-sale price is 299000-315000 yuan; Xiaomi appointed Yu Liguo as vice president of Xiaomi automobile.
Important announcement: Huizhou Desay Sv Automotive Co.Ltd(002920) : the company is expected to realize a net profit attributable to the parent company of RMB 800-850 million (+ 54.4% ~ 64.1%) in 2021; Guangzhou Automobile Group Co.Ltd(601238) : the net profit attributable to the parent company in 2021 is expected to be about 6.6 billion yuan to 7.6 billion yuan (+ 11% ~ 27%); Ningbo Tuopu Group Co.Ltd(601689) : the company expects to realize a net profit attributable to the parent company of 105 million yuan to 115 million yuan (+ 67 ~ 83%) in 2021; Anhui Zhongding Sealing Parts Co.Ltd(000887) : Chengdu WANGJIN, a subsidiary of the company, recently received a notice from customers that the company has become a batch supplier of chassis lightweight assembly products for two new platform projects of a new energy brand host factory in China. The life cycle of the project is 5 years, and the total life cycle amount is about 767 million yuan; China Automotive Engineering Research Institute Co.Ltd(601965) : the company’s revenue in 2021 was 3.83 billion yuan (+ 12.1%), and the net profit attributable to the parent company was 690 million yuan (+ 23.8%).
Last week’s market review: last week, the Shanghai Composite Index, Shenzhen Component Index and Shanghai and Shenzhen 300 rose and fell by – 1.63%, – 1.35% and – 1.98% respectively. The auto sector rose 1.39% with strong performance. Among the automobile sub sectors, except the passenger car and automobile service sectors, all recorded increases, of which the auto parts sector increased the most, by 2.98%, and the commercial truck sector increased the least, by 0.47%; The automobile service sector fell the least, down 0.39%, and the passenger car sector fell the most, down 0.46%.
New car listing statistics: three new cars were listed last week, namely Chang’an Auchan X5 Huxiao limited edition, GAC Toyota Weisa, Chery Ruihu 8plus Kunpeng e +.
Risk warning: the price of upstream raw materials rises sharply; Impact of shortage of automotive chips; Weak economic growth affects automobile demand
