On January 21, Oriental alpha advantageous industry hybrid sponsored Securities Investment Fund released the fourth quarter report of 2021. By the end of the fourth quarter, the rate of return of share a of the fund in the past year and since its establishment in June 2020 had reached 58.93% and 108.57% respectively. Tang Lei, the fund manager of the fund, assistant general manager of Oriental alpha fund and director of research department, said that there will be no structural market similar to the extreme differentiation in 2021 in 2022, and both the "stable growth" sector and the high growth sector will rise. Moreover, from the medium-term perspective, the high growth sector has greater flexibility in valuation and profitability, and the investment opportunities may be more significant, The new energy vehicle industry still has significant investment opportunities in 2022.
Tang Lei pointed out that since the fourth quarter, "steady growth" related sectors, such as real estate, finance, construction, building materials and other industries, have performed strongly; The high boom growth sector represented by new energy vehicles has experienced continuous adjustment due to the superposition of investors' concerns about fundamentals and their own sector trading congestion. Standing in the current position, investment considers two important issues: first, whether the market will continue the weak shock pattern and whether the market style will continue to be unfavorable to the high boom growth sector; Second, how is the prosperity of the new energy vehicle sector? Whether there are investment opportunities in this sector.
Tang Lei believes that after more than half a year of weak shock pattern, the A-share market is expected to enter the upward channel. In the overall upward process, the market will not have a structural market similar to the extreme differentiation in 2021 in 2022. Both the "stable growth" sector and the high growth sector will rise. Moreover, from the medium-term perspective, the high boom growth sector has greater flexibility in valuation and profit, and the investment opportunity may be more significant.
For the new energy vehicle industry, Tang Lei believes that the new energy vehicle industry still has significant investment opportunities in 2022. "After analyzing the power battery purchase order of the whole vehicle plant in 2022, the production scheduling of the midstream link in the first quarter of 2022, the terminal demand and the development law of emerging industries, we predict that the sales growth of new energy vehicles in 2022 may still exceed 60%, exceeding the current expectations of the market, and the high growth and prosperity of new energy vehicles will remain."
Tang Lei said that after the adjustment, the transaction congestion of the new energy vehicle sector has returned to below the average level, the valuation has returned to a reasonable level matching the growth rate, and it is expected to be revised down in the adjustment of the sector. Based on historical experience, the current round of adjustment of the new energy vehicle sector has reached the average level both in time and space, and the new energy vehicle industry still has significant investment opportunities in 2022. In the first quarter of 2022, in addition to continuing to focus on the allocation of new energy vehicle industry, we will also focus on investment opportunities in science and technology growth fields such as wind power, consumer electronics and military industry.
