Core individual stock portfolio: recently recommended Hangzhou Boiler Group Co.Ltd(002534) , Robotechnik Intelligent Technology Co.Ltd(300757) , Gcl Energy Technology Co.Ltd(002015) , Shenzhen United Winners Laser Co.Ltd(688518) , Wuxi Autowell Technology Co.Ltd(688516) , Qingdao Gaoce Technology Co.Ltd(688556) , Shenzhen Cotran New Material Co.Ltd(300731) , Hunan Baili Engineering Sci & Tech Co.Ltd(603959) , Pnc Process Systems Co.Ltd(603690) , Wuxi Lead Intelligent Equipment Co.Ltd(300450) , Zhejiang Hangke Technology Incorporated Company(688006) , Fujian Nebula Electronics.Ltd(300648) , Beijing Tianyishangjia New Material Corp.Ltd(688033) , Shuangliang Eco-Energy Systems Co.Ltd(600481) , Suzhou Maxwell Technologies Co.Ltd(300751) , Hangjin Technology Co.Ltd(000818) , Shenzhen Hopewind Electric Co.Ltd(603063) , Hnac Technology Co.Ltd(300490) , Hefei Kewell Power System Co.Ltd(688551) , Beijing Sdl Technology Co.Ltd(002658) etc.
Special research this week: from 2022 to now, the banking and real estate sectors have increased steadily with the support of policies such as steady growth, while the sectors with more early increases such as national defense and military industry, mechanical equipment and electric equipment have callback in varying degrees, and the overall market fluctuates greatly, which is in the stage of seeking consensus. Specific to the coverage areas, the correction range of the sectors with high early valuation is large. Wind power equipment, lithium-ion equipment and photovoltaic equipment were subject to a lot of correction, with 12.64% / 12.43% / 11.73% respectively as of 1 / 23. However, the previous valuation was low, and the overall pressure bearing construction machinery increased slightly (3.10%). Callback focuses on quality, only time, not space. In 2021, the external environment is loose, the liquidity is good, the industry differentiation is serious, the overall valuation of the high boom sector is improved rapidly, and the investment only needs to follow the trend. At that time, we also called on the market to pay attention to hard technology and high-end manufacturing sectors such as lithium battery equipment and photovoltaic equipment. In 2022, the internal and external macro environment has changed, the interest rate hike of the external Federal Reserve is approaching, the counter cyclical adjustment of internal steady growth is increasing, and the downward pressure on the economy is large, so the overall market presents a structural market. We think we should pay more attention to high-quality stocks with strong performance certainty and high safety margin. At most, we only lose time and space. Pay attention to the performance forecast of the annual report and the verification of the first quarterly report, and focus on the layout of medium and long-term prosperity. Specifically, the special equipment sector such as lithium battery equipment and photovoltaic equipment continued to maintain a high outlook, and the contract liabilities and advances received in 2021q3 reached a new high of 9.191 billion yuan and 41.483 billion yuan respectively, with a month on month increase of 19.45% / 82.98%, providing strong certainty for the performance in 2022. At the same time, we suggest paying attention to the annual report performance forecast and the verification of the first quarterly report of key companies.
Key tracking industries:
Lithium battery equipment has a resonance in the global production capacity cycle. It is expected that the demand will exceed 100 billion yuan in 2025. Chinese equipment companies have obvious advantages and are fully optimistic about the first and second tier leaders with advantages in technology, products and scale;
For photovoltaic equipment, the iterative upgrading of equipment promotes the cost reduction of the industrial chain, and the penetration rate of hjt increases rapidly. At the same time, the decline in the price of photovoltaic raw materials is expected to stimulate downstream demand, and we are optimistic about the leaders of battery chips and module equipment;
Energy storage: energy storage is the necessary foundation for building a new power grid. Policies are favorable to the implementation. Power generation and user side promote the prosperity of the industry, and are optimistic about leading companies in battery, inverter, integration and other links;
Semiconductor equipment is expected to meet us industry demand in 2030, reaching US $140 billion. Chinese mainland accounts for a larger share but the localization rate is still low. We hope that the platform companies and domestic alternatives will soon break through.
Automation, industrial consumables with a wide range of downstream applications, with a market scale of about 40 billion, which is expected to reach 55.7 billion yuan in 2026. It is optimistic about the industry leaders benefiting from the improvement of concentration and import substitution;
Hydrogen energy and green hydrogen meet the requirements of carbon neutralization. The rapid development of photovoltaic and wind power lays the foundation for photovoltaic hydrogen production and wind power hydrogen production. We are optimistic about the leading companies with the advantages of green hydrogen industrial chain integration;
For construction machinery, it is expected that the industry sales volume Q4 will increase negatively year-on-year, and the strong will always be strong. It is suggested to pay attention to the industry leaders and be optimistic about the complete machine and parts companies with product, scale and cost advantages
