(Original title: Dianxin | New energy vehicle sales were hot in June, and the number of wind power tenders doubled)
Source: Financial World
Author: Founder Securities
Dianxin | New energy vehicle sales are hot in June, and wind power bidding volume doubles
new energy vehicles:
Among the traditional car companies, BYD sold 134,000 new energy vehicles in June, a record high, an increase of 224%, and an increase of 17%. GAC Aeon’s June sales also hit a record high, reaching 24,000 units, an increase of 179% and an increase of 14%. Among the new car-making forces, Wei Xiaoli, Nezha, Leapmotor, etc. all achieved monthly sales of over 10,000, and continued to maintain rapid growth. With the arrival of the peak season of new energy vehicle sales, the industry is expected to continue to maintain a sequential upward trend. Recommended attention, power battery: CATL, Yiwei Lithium Energy, Guoxuan Hi-Tech, Xinwangda; positive electrode: Dangsheng Technology, Rongbai Technology, Xiamen Tungsten New Energy, Long-term Lithium Technology, Zhongwei Co., Ltd., GEM, etc.; Diaphragm: Enjie Co., Ltd., Xingyuan Material, Cangzhou Pearl, etc.; negative electrode: Shanshan Co., Ltd., Zhongke Electric, Xiangfenghua, etc.;
New energy power generation:
In terms of photovoltaics, the price of the main industry chain continued to rise this week, and the supply of silicon materials decreased month-on-month in July due to emergencies, and the situation of short supply became more obvious. The price increases of the two leading silicon wafer manufacturers exceeded 5%. Tongwei also raised the price of cells subsequently, and the module sector was under increased pressure. The price increase in July ranged from 2 to 5 cents. Looking forward to demand, domestic projects are expected to be limited due to high prices, overseas demand for strong price affordability is still supported, and distributed prices are expected to continue to rise. In terms of news, judging from the domestic bidding situation in June, the bidding volume of components has dropped significantly, and the downstream game has reached a critical point. We believe that the fundamental reason for the high price of the photovoltaic industry chain is the strong downstream potential demand, strong demand – rising prices – increasing terminal costs – weakening demand – falling prices – increasing demand. This industry evolution process is in line with logic and the law of development. Overly worried about the short-term indicator of production scheduling. The rise of the photovoltaic sector in this round is supported by performance, not entirely due to the valuation of liquidity. Focus on: LONGi, JA Solar, JinkoSolar, Trina Solar, Risen Energy, Tongwei, Daqo Energy, Zhonghuan, Shuangliang Energy, Beijing Express, Aixu, Foster, Haiyou New Materials, Flat, Sunshine Power, Jinlang Technology, GoodWe, Deye Co., Ltd., Hemai Co., Ltd., Maiwei Co., Ltd., Jiejia Flextronics, Jinchen Co., Ltd.
In terms of wind power, in the first half of the year, OEMs won bids for 199 projects totaling 39.559GW, nearly doubling from last year (incomplete statistics from Fengmang Energy). The industry installed capacity from January to May was significantly affected by the epidemic. Driven by the bidding boom, we are optimistic. The installed capacity rebounded in the second half of the year. At present, the price of wind turbines is clearly stabilizing, and the filing system for wind power projects has been implemented. We maintain the judgment that the demand for “large bases + wind power going to the countryside + renovation of old units” on land will be boosted. Continue to be optimistic about the investment opportunities of large-scale wind turbines and offshore wind power. It is recommended to pay attention to wind power components companies with global supporting capabilities and good cost control and complete machine leaders with strong supply chain management and control capabilities. It is recommended to pay attention to: Dongfang Cable, Mingyang Intelligent, Jinlei Shares, Hopewind Electric.
Risk warning: macroeconomic downside risks, new energy vehicle policies are less than expected, electricity reform is less than expected, and new energy policies are less than expected.