China Electric Vehicles Forum of 100 People will be held this Friday. Against the background of increased global investment and subsidies for electric vehicles, the sudden rise of Tesla electric vehicles, and the upcoming introduction of new policies for new energy vehicles in my country, the industry dynamics of electric vehicles are particularly interesting. People pay attention.
1. The most important conference in the field of electric vehicles is about to be held
According to the official website of the China Electric Vehicles Committee of 100, the China Electric Vehicles Committee of 100, known as a think tank in the field of electric vehicles in China, is scheduled to be held in Beijing from January 10th to 12th. The 100-person Electric Vehicle Forum (2020) will adhere to the goal of "delivering authoritative information, conducting extensive discussions, and promoting communication and cooperation", trying to help industry insiders sort out and analyze the industry situation, discuss and respond to industry concerns, and find ways to find the next 3-5 The direction and path of annual industrial adjustment.
It is reported that the conference will extensively invite more than 200 leaders of relevant domestic ministries and commissions, representatives of foreign government agencies, industry leading companies, experts and scholars to give speeches, and is expected to attract more than 3,000 industry professionals to participate.
2. Competition in the electric vehicle industry is intensifying
2020 is an extremely critical year for the development of global electric vehicles. Major automobile countries, led by China, the United States, Germany and France, have recently continued to make efforts to increase the development of the electric vehicle industry.
Among electric car manufacturers, Tesla is the most developed. On the morning of December 30, Tesla delivered the first batch of 15 domestically produced Model 3s to internal employees at the Shanghai Gigafactory. On January 3rd, the domestically produced Model 3 lowered its price to only 299,000 yuan after subsidies. On January 7, the domestic Tesla Model 3 will be officially delivered. Benefiting from the smooth delivery of domestic Tesla, not only Tesla's stock price has hit new highs, but the A-share listed Tesla concept stock has also performed well.
In early trading today, nearly 10 Tesla concept stocks including Tiantong Shares , China Baoan , and Shiyun Circuit hit their daily limit. Securities Times • Databao statistics show that since December 2019, Tesla concept stocks have risen by an average of 22%, among which Weitan Industrial, Shiyun Circuit, Dongmu Co., Ltd., Wencan Co., Ltd., and Tianqi Model Co., Ltd. have led the rise. The amplitudes are all over 50%.
The rise of Tesla has doubled the pressure on traditional car manufacturers. Relevant government departments are also vigorously supporting related industries and providing corresponding policy support for electric vehicles.
According to the fiscal subsidy adjustment policy for new energy vehicles released by our country last year, all existing subsidies will be withdrawn before the end of this year.
However, while the subsidy policy is withdrawn, relevant support policies are expected to be gradually issued and implemented.
On December 3, 2019, the Ministry of Industry and Information Technology released the "New Energy Vehicle Industry Development Plan (2021-2035) (Draft for Comments)". The draft pointed out that by 2025, the market competitiveness of new energy vehicles will be significantly improved, and power batteries will Major breakthroughs have been made in key technologies such as , drive power, and vehicle operating systems. New energy vehicles account for about 25% of new car sales. intelligent connected cars account for 30% of new car sales. Highly autonomous driving intelligent connected cars have been implemented in limited areas. and specific scenario applications.
On December 27, 2019, the National Financial Work Conference pointed out that it will promote industrial transformation and upgrading, support the development of new energy vehicles, and study and establish a government procurement transaction system, cost management and risk sharing mechanism that is compatible with supporting innovation.
Internationally, the EU has always been known for its strictness in automobile carbon emission standards, and the process of tightening carbon emission standards is also accelerating. The European Automobile Industry Association said: "If we want to achieve the carbon dioxide emissions set by the EU in 2025 and 2030, Target, all types of alternatively powered vehicles must rapidly increase sales in all member states."
In November 2019, the German government proposed to extend the subsidy policy for electric vehicles until 2025, that is, increase the subsidy amount for vehicles under 40,000 euros by 50%, that is, The subsidy amount increased from 4,000 euros to 6,000 euros, and the subsidy amount for vehicles not exceeding 65,000 euros was increased to 5,000 euros. At the same time, the German government plans to invest 3.5 billion euros in expanding public charging piles for electric vehicles. In order to achieve the goal of German new energy in 2030 The goal is to have 10 million cars and 1 million charging piles.
Audi , Mercedes-Benz , Lexus and other car companies' first pure electric vehicles have been launched in China. Reports indicate that this year many joint ventures and luxury brands will usher in an explosion of pure electric models, such as BMW A number of new pure electric models from , Toyota , Volkswagen , Mercedes-Benz, Beijing Hyundai and other foreign-funded or joint ventures will be launched one after another.
3. Stocks related to the electric vehicle industry chain
The development of electric vehicles will increase the prosperity of the related industry chain, and related concept stocks will benefit. Databao combines public information on the market and some research report data to sort out concept stocks related to the electric vehicle industry chain.
The electric vehicle industry chain is mainly divided into upstream resources, midstream batteries and battery materials, downstream vehicle production and sales, and other ancillary industries such as charging piles.
The resources required for the production of electric vehicles and batteries are mainly concentrated in lithium mines, cobalt mines, rare earth minerals and other enterprises. Listed companies include Tianqi Lithium , Huayou Cobalt, etc.
Listed companies in the field of batteries and battery materials include Shanshan Co., Ltd. , Enjie Co., Ltd., CATL, Dangsheng Technology, New Zhoubang , Xingyuan Materials, Enjie Co., Ltd., Penghui Energy, etc. Others are in the industry chain Listed companies in the midstream include Founder Motor, Inovance Technology, etc.
The main domestic vehicle manufacturers include BYD and so on.
Listed companies involved in charging piles include Teruid, Shenghong Co., Ltd., Aotexun, Heshun Electric, Power Source, etc.
Listed companies that recycle batteries include GEM, Tianqi, etc.
Ping An Securities believes that the medium- and long-term layout window for the new energy vehicle sector has already opened. At the component level, it is recommended to pay attention to Tesla supply chain and overseas supply chain companies, corresponding to Tuopu Group, Zhongding Co., Ltd., CATL, Dangsheng Technology, and Rongsheng Technology. Bai Technology, Shanshan Co., Ltd., Putilai, Xinzhoubang, Enjie Co., Ltd., Xingyuan Materials, etc.
Essence Securities believes that in terms of new energy policies, there may be policies that exceed expectations this year. It is recommended to focus on configuring leaders in the battery and material sectors. Companies with greater flexibility include Enjie, Putilai, Dangsheng Technology, etc. These companies all have a lot of supplies in the overseas LG industry chain. In addition, they can also join Volkswagen. MEB and companies in the Tesla industry chain, such as Hongfa Holdings, Sanhua Intelligent Controls, Xusheng Holdings, etc., all have corresponding overseas performance as a measure of flexibility. In addition, the past two years are still a big year for battery factories to expand production. It is recommended to pay attention to the equipment manufacturer Pioneer Intelligence.
Western Securities believes that the bottom of the new energy vehicle policy has appeared, and the pressure on short-cycle sales and profitability is still being released. It is expected to bottom out in mid-to-early 2020. In the long term, we are optimistic about companies with core advantages in the industrial chain, such as CATL, Tianqi Lithium, and Ganfeng Lithium. In the short term, we are optimistic about Tesla suppliers, such as Tuopu Group and Sanhua Intelligent Control. (Data treasure Wu Qi)
