Ten departments including the national development and Reform Commission and the National Energy Administration recently jointly issued the implementation opinions on further improving the service guarantee capacity of electric vehicle charging infrastructure. The implementation opinions put forward that by the end of the 14th five year plan, China’s electric vehicle charging guarantee capacity will be further improved to form a moderately advanced, balanced layout, intelligent and efficient charging infrastructure system, It can meet the charging demand of more than 20 million electric vehicles. The implementation opinions proposed to continue to increase the research and development of new technologies and continuously improve the standard system. We should give full play to the energy storage characteristics of power batteries, explore and promote orderly charging, V2G and other forms, and realize the collaborative interaction between electric vehicles and power grids. Promote the power exchange mode according to local conditions in scenarios such as mines, ports and urban transshipment.
In terms of A-share investment, Chuancai Securities pointed out that while the sales of new energy vehicles have increased greatly, the utilization rate of public charging piles will also be improved. Except for the special calls from the head enterprises, other charging pile operation enterprises are also expected to improve their profits, and the era of charging pile operation profit is coming. In addition, both special call and star charging have introduced a number of shared private piles. These charging piles do not require enterprises to invest in construction costs, but can share profits, which will also improve the profitability of charging pile operating enterprises and effectively improve the industry fundamentals. It is suggested to pay attention to the charging pile industry chain, with relevant targets: Qingdao Tgood Electric Co.Ltd(300001) , Shenzhen Kstar Science & Technology Co.Ltd(002518) , Shenzhen Sinexcel Electric Co.Ltd(300693) , Shenzhen Increase Technology Co.Ltd(300713) , etc.
In terms of power exchange mode, Minsheng Securities believes that the charging pile is pushed forward, and the power exchange station ushers in new opportunities. By 2021, the total number of Shanxi Guoxin Energy Corporation Limited(600617) vehicles has reached 7.84 million, with a vehicle pile ratio of 6.84; in 20 years, the vehicle pile ratio has been 6.07, with an increase of 12.5%, and the charging anxiety has been alleviated significantly. In the past 21 years, the number of power exchange stations in China totaled 1298, an increase compared with 20 years. With the entry of battery giants, the power exchange mode is expected to usher in new opportunities.
Citic Securities Company Limited(600030) pointed out that the rapid growth in the production and sales of new energy vehicles will accelerate the development of the charging and replacement industry. Considering the advantages of more efficient power replacement mode, more friendly to the power grid and land, as well as the disadvantages of low standardization, closed system and high investment cost, it is estimated that the Shanxi Guoxin Energy Corporation Limited(600617) vehicle energy supplement market will continue to maintain the pattern of charging first and power replacement second in the next five years, However, driven by capital, OEMs and policies, it is expected that the application and promotion of power exchange mode in some high-end passenger cars and operating vehicles will accelerate significantly. Key recommendations:
1) third party battery suppliers and operators with strong resource integration ability in the power exchange field, such as Contemporary Amperex Technology Co.Limited(300750) and Qingdao Tgood Electric Co.Ltd(300001) leading in the charging operation industry, it is recommended to pay attention to Gcl Energy Technology Co.Ltd(002015) ;
2) for power exchange equipment providers benefiting from the rapid increase of industry sales, it is recommended to pay attention to Suzhou Harmontronics Automation Technology Co.Ltd(688022) , Bozhon Precision Industry Technology Co.Ltd(688097) , Shandong Weida Machinery Co.Ltd(002026) , etc.
