On May 10, the A-share index diverged. The Shanghai Stock Exchange Index fell by more than 1% due to the weight of the special valuation sectors such as Big Finance and Zhongzitou. In the afternoon, the ChiNext Index once rose by more than 1% driven by the strong counterattack of new energy track stocks. As of the close, the Shanghai Index fell 1.15% to 3319.15 points; the Shenzhen Component Index rose 0.14% to 11140.19 points; the ChiNext Index rose 0.73% to 2262.22 points.
According to reports, industry insiders said that 2021-2022 will be the two years with the highest growth rate of domestic electric vehicle sales, and charging piles, as an important supporting facility in the aftermarket of electric vehicles, will usher in the highest growth stage slightly later than electric vehicles. It is expected that 2023 will be a year of high sales of charging piles.CITIC SecuritiesThe decline in subsidies in the first quarter of 2023 will lead to a partial overdraft of demand at the end of 2022, coupled with a sharp drop in the price of lithium carbonate, price cuts by car companies, and consumers holding money to wait and see, the overall sales growth of new energy vehicles will slow down. It is expected that as the price of lithium carbonate stabilizes in the second quarter, the demand for new energy vehicles is expected to pick up. In addition, energy storage is also expected to continue high growth.
Regarding the main line of the special assessment, there is currently a basic consensus in the market: the time span of the special assessment will be very long, but the internal division will continue. For some time to come, it may form a seesaw pattern with AI.
On the disk, the new energy track rebounded in the afternoon, and lithium batteries, photovoltaics, and wind power collectively strengthened. The heavyweight CATL rose 3%. There are also some performances. Main lines such as ChatGPT, education, and media are active.
In terms of decline, the Chinese and special valuation sectors such as Zhongzitou, One Belt One Road, and Big Finance collectively pulled back.Qingang sharesIn addition, sectors such as semiconductors, ports, and Internet e-commerce were among the top losers.
In general, individual stocks in the two cities rose more and fell less, with more than 2,900 companies rising. The market turnover exceeded one trillion yuan for the 24th consecutive trading day, shrinking by more than 201.7 billion yuan from yesterday, and the net purchase of northbound funds exceeded 5.5 billion yuan.
Looking forward to the market outlook, China Securities Investment believes that value revaluation, technology nuggets, and the market focus is to find areas with marginal changes in the under-allocation of institutions.
Popular plate
1. Education stocks soared
The trend of education stocks is active. China Hi-Tech’s daily limit, Quantong Education, Borui Media, Guoxin Culture, Broadcom, Kaiwen Education, etc. followed suit.
Comments: In terms of news, the General Office of the Ministry of Education recently issued a notice to carry out a series of educational activities in vocational colleges in 2023, “Skills make us strong and the country owns me”.
2. The rebound of the new energy track
The new energy track rebounded rapidly in the afternoon, led by photovoltaics, wind power, and energy storage. Hopewind Electric, Yijing Optoelectronics, Dongfang Cable, Quanwei Technology, Sanfu Xinke, Taisheng Wind Energy, Jinlei, Haili Wind Power, etc. Follow up.
Comments: On the news side, data from the National Energy Administration shows that from January to March, the country’s new installed capacity of renewable energy was 47.4 million kilowatts, accounting for 80.3% of the country’s newly installed power generation capacity, an increase of 86.5% year-on-year.
3. The automobile industry chain strengthens
The new energy vehicle industry chain continues to strengthen, led by complete vehicles and charging, Kailong High-Tech, Encreat 20% daily limit, Zhongtong Bus, Yaxing Bus, King Long Automobile, Rongtai, Wanma, Xiangxin Technology, etc. Over 10 shares daily limit.
Comments: On the news side, data from the Passenger Federation shows that the retail sales of the passenger car market in April reached 1.63 million units, a year-on-year growth rate of 55.5% and a month-on-month increase of 2.5%, which is also one of the only two positive month-on-month growths since 2010. . Five departments including the Ministry of Industry and Information Technology announced a few days ago that the production, import, and sale of vehicles that do not meet the National VI emission standard 6b will be banned nationwide from July 1. The CITIC Securities Research Report pointed out that the demand for new energy vehicles is expected to pick up in the second quarter.
4. The concept of ChatGPT soared and fell back
The concepts of ChatGPT and AIGC soared and fell back. Yuncong Technology and Torsi rose by more than 10%, and Hanyi, Shanshui Beide, and Chinese Online followed suit.
Comments: In terms of news, OpenAI released the Shap.E model again a few days ago. Users can enter text, which is used to create realistic and diverse 3D models. At present, in addition to OpenAI, technology giants such as Google and Nvidia have also actively deployed the “text generation 3D” track.
Institutional view
Looking forward to the market outlook, China Securities Investment believes that value revaluation, technology nuggets, and the market focus is to find areas with marginal changes in the under-allocation of institutions.
Minsheng Securities: The reversal has come and now is the best time to get on the car for new energy
The research report of Minsheng Securities pointed out that from the perspective of production scheduling, the destocking phase of midstream materials and OEMs is basically over. Looking back, material factories are basically at full production, and production scheduling will continue to increase month-on-month. From a policy point of view, the new energy vehicles going to the countryside policy plus the expected implementation of the non-RDE National VI b extension will lead to a marginal inflection point in the sales of new energy vehicles in the second half of the year, maintaining the sales forecast of 8.5-9 million in 2023. Five departments including the Ministry of Industry and Information Technology announced a few days ago that the production, import, and sale of vehicles that do not meet the National VI emission standard 6b will be banned nationwide from July 1. The new energy vehicle going to the countryside policy plus the expected implementation of the non-RDE National VI b extension, the sales of new energy vehicles will usher in a marginal turning point in the second half of the year, and maintain the sales forecast of 8.5-9 million in 2023. The time for reversal has come, and now is the best time to get on the new energy vehicle chain!
China Securities Investment Medium-term Investment Strategy: Value Revaluation Technology Nuggets
The medium-term investment strategy report of China Securities Construction Investment pointed out that the economy will recover slowly after the rapid return to normal, and the market capital environment is in the transition period from stock to increase. The market focus is to find areas with marginal changes in the low allocation of institutions. There is still room for revaluation of value stocks represented by “China Special Evaluation”, but in-depth interpretation will begin to diverge. The technology cycle in the digital economy will be an important clue to elasticity, and the direction of fundamentals in the second half of the year or significant catalysis is expected to be the top performer. Focus on industries: media, computers, communications, traditional Chinese medicine, non-bank finance, semiconductors, construction, etc.
Huatai Securities: The profit growth rate of companies in the photovoltaic equipment industry continues to maintain a high level
The Huatai Securities Research Report pointed out that through the analysis of the regular reports of 12 listed photovoltaic equipment companies such as photovoltaic silicon materials, silicon wafers, batteries, and modules in 2022 and the first quarter of 2023, we found that the profit growth rate of companies in the photovoltaic equipment industry continued to maintain a high level. In 2022, the revenue growth rate of 12 listed photovoltaic equipment companies was +75.41% year-on-year, and the growth rate of net profit attributable to the parent was +85.76% year-on-year. We believe that the high growth rate of the industry is mainly due to: 1) Driven by the “dual carbon” policy and under the background of rising profitability of photovoltaic cell manufacturing in 22 years, the enthusiasm for downstream expansion continues to increase, which promotes the high increase in orders and the conversion of income; 2) the industry Technological upgrades drive the frequency of equipment and material replacements to increase, and equipment that conforms to cost reduction and efficiency improvement even has the conditions for “price increase”, and the single GW investment has increased.
This article is compiled from “Tencent Self-selected Stocks”, edited by Zhitong Finance: Chen Wenfang.
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