On January 24, the comprehensive work plan for energy conservation and emission reduction in the 14th five year plan officially issued by the State Council clearly stated that by 2025, the sales of new energy vehicles will reach about 20% of the total sales of new vehicles.
“In recent years, the central and local governments have successively issued a series of support and cultivation policies, creating conditions for the future sustainable development of the new energy vehicle industry, driving the continuous development of the Shanxi Guoxin Energy Corporation Limited(600617) vehicle and lithium battery industry, and accelerating the upgrading of process technology and the improvement of safety performance.” Yuan Shuai, Deputy Secretary General of the Rural Revitalization and Construction Committee of the China Cultural Management Association, told the Securities Daily.
According to the reporter’s statistics, the new energy vehicle terminal market continued to maintain a high outlook, and the production and sales still increased significantly year-on-year. The annual sales volume reached 3.507 million in 2021, a significant increase of 165.1% year-on-year, exceeding the expectation. In terms of permeability, the single month permeability in December has reached 19.06%.
He Li, general manager of zhizhishan investment, told reporters that generally speaking, the penetration rate of more than 20% can be regarded as an inflection point for the development of the industry. With the continuous launch of high-quality models, the sales target of new energy vehicles in 2025 is expected to be achieved ahead of schedule.
The data of the secondary market further supports the growth rate of new energy vehicles. As of January 25, the total market value of new energy vehicles reached 10.12 trillion yuan, accounting for 11.80% of the total market value of a shares. Among the 488 tradable constituent stocks in the sector, 457 stocks rose relative to the issue price (post resumption), accounting for 93.65%. Among them, Shanghai Feilo Acoustics Co.Ltd(600651) , Huayu Automotive Systems Company Limited(600741) , China Baoan Group Co.Ltd(000009) and other stocks increased by more than 10000% relative to the issue price. In addition, 62 stocks including Eve Energy Co.Ltd(300014) , Wuxi Lead Intelligent Equipment Co.Ltd(300450) , Shenzhen Desay Battery Technology Co.Ltd(000049) , Ganfeng Lithium Co.Ltd(002460) , Ningbo Shanshan Co.Ltd(600884) , Zte Corporation(000063) , Luxshare Precision Industry Co.Ltd(002475) , Xiamen Faratronic Co.Ltd(600563) , Hongfa Technology Co.Ltd(600885) , Suzhou Ta&A Ultra Clean Technology Co.Ltd(300390) , Yutong Bus Co.Ltd(600066) increased by more than 1000% relative to the issue price.
He Li believes that the new energy vehicle industry still has long-term configuration value. In 2021, the sales volume of new energy vehicles exceeded expectations, which continued to improve the landscape of the industrial chain, and some stocks overdraw their future performance. After the current continuous adjustment, the valuation level of many stocks has returned to a relatively reasonable range of 20-30 times. It is suggested that investors focus on selecting some stocks with sufficient safety margin for allocation.
In addition, the valuation of some stocks needs to be repaired. Through combing, Changchun Faway Automobile Components Co.Ltd(600742) , Leo Group Co.Ltd(002131) , Sinotruk Jinan Truck Co.Ltd(000951) , Saic Motor Corporation Limited(600104) , Guangzhou Guangri Stock Co.Ltd(600894) , Nanjing Chixia Development Co.Ltd(600533) , Jiangsu Nanfang Bearing Co.Ltd(002553) , Weifu High-Technology Group Co.Ltd(000581) , Youon Technology Co.Ltd(603776) the latest P / E ratios of 10 stocks are less than 10 times, which is far lower than the overall valuation of 43.17 times of the new energy sector.
At the same time, the new energy sector is also the “heart” of fund managers. Yang Delong, chief economist of Qianhai open source fund, admitted to reporters that due to the sharp decline in the global capital market overnight, A-Shares have made a significant adjustment today. Combined with the recent market situation, some high-quality stocks have fallen out of value. In 2022, A-Shares will focus on leading stocks of large consumption and new energy.
In terms of investment strategy, Lin fan, an analyst at Huajin securities, suggested paying attention to three main investment lines. First of all, the independent brand leader with strong new product cycle: Great Wall Motor Company Limited(601633) , Byd Company Limited(002594) . Secondly, parts enterprises closely related to the electric intelligent industrial chain and 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) . Finally, the market share continues to improve, and the heavy truck enterprises that are expected to usher in the performance inflection point: Sinotruk Jinan Truck Co.Ltd(000951)
the picture shows the market performance of some new energy vehicle stocks. Tabulated by Xu Yiming
