Original title: May Auto Listed Companies Market Value List: Tesla evaporates over 80 billion U.S. dollars and the Ningde era enters the trillion camp
Every journalist Sun Tongtong and Huang Xinxu Every journalist editor Sun Lei
In May, the automobile stocks as a whole continued the growth momentum of April.
According to incomplete statistics by reporters from the “Daily Business News”, in May, 74 automotive listed companies (including 16 multinational vehicle companies, 28 domestic vehicle companies, 19 domestic parts companies, and 11 domestic car dealers In the group), there are 56 listed companies whose market value is “popular”.
Specifically, each sector has bright spots. At the level of international car companies, Tesla was affected by negative news, sales declined, and its market value evaporated by more than 80 billion US dollars; Chinese car companies performed more positively overall, with 21 of the 28 vehicle companies growing in market value. Among them, BYD returned to the top of the list of Chinese auto companies in terms of market value, with a market value of approximately 511.286 billion yuan on May 31.
The market value of upstream and downstream enterprises in the automobile industry chain performed brilliantly in May. The market value of CATL exceeded 1 trillion yuan, which is approximately equal to the sum of the market value of BYD, Great Wall Motors, and Geely Automobile. However, the dealer sector performed relatively poorly, and more than half of the companies’ market value fell.
Tesla’s market value evaporates, a General Motors
According to the reporter’s incomplete statistics, in May, 13 of the 16 internationally listed car companies had their market capitalization “red”. Only Tesla, Ferrari and Nissan’s three companies experienced a decline in market value compared to April. Only Tesla, Ferrari and Hyundai Motor’s market capitalization increased month-on-month in sharp contrast. The total market value of 16 international auto companies increased by approximately US$90 million in May, basically the same as in April.
Among many international car companies, Tesla is still the main focus. In May, its market value evaporated by US$81.13 billion from the previous month, a decrease of 11.9%. Some analysts said that the substantial evaporation of market value is not unrelated to the recent negative news about Tesla. Recently, affected by incidents such as “car roof rights protection” and multiple brake failures, Tesla’s sales in China in April have also fallen sharply. According to data from the Federation of Travel Services, in April, Tesla’s wholesale sales decreased by nearly 10,000 units compared with March, a 27% decrease from the previous month. Regarding the setback in sales in China, Tesla explained that the Shanghai Super Factory upgraded the Model Y production line and stopped production for two weeks in April, which caused sales fluctuations.
It is worth noting that in addition to the Chinese market, Tesla’s market position in Europe and the United States is also increasingly threatened. According to EV Sales data, in April, the delivery volume of Tesla Model 3 in the European market was only 1244, which was 95% lower than the delivery volume of 28,200 in March, and it fell directly out of the top 20 sales of new energy vehicles in Europe. List. In the U.S. market, according to Morgan Stanley’s analysis, Tesla’s market share in the U.S. dropped from 81% at the end of 2020 to 69% in February this year. Mach-E cannibalize.
Therefore, among the 16 multinational auto companies, Ford Motor, which is accelerating its electrification transformation, has the most significant increase in its market value in May, increasing by 25.9% from the previous month to 57.99 billion U.S. dollars, and its market value ranking has moved up three places.
Some analysts believe that the increase in Ford’s valuation has a certain relationship with its acceleration of electrification transformation. Recently, Ford CEO Jim Farley announced plans to accelerate electrification, including increasing the investment in electrification from the previous US$22 billion to US$30 billion, releasing two dedicated all-electric vehicle platforms under development, and announcing By 2030, Ford’s electric vehicles will account for 40% of the target. Prior to this, Ford Motor was also called to accelerate its electrification transformation and catch up with the pace of Chinese automakers. And this series of measures are good for Ford Motor’s performance in the capital market.
Haima’s market value has increased by more than 40% after “removing the hat”
According to the reporter’s incomplete statistics, in May, among the 28 Chinese listed auto companies (including 19 passenger car companies and 9 commercial vehicle companies), 21 auto companies had a market value that was “popular”, but the market value of 28 auto companies in May A total decrease of about 13.941 billion yuan from the previous month. It is worth noting that Evergrande Motor surpassed BYD in April to win the market value list of Chinese auto companies. In May, its market value fell to fourth. BYD’s May market value increased by approximately 57.595 billion yuan to 511.286 billion yuan, returning to the top of the monthly market value of Chinese auto companies.
In terms of changes in market value, Changan Automobile, BAIC Blue Valley and Haima Automobile changed significantly in May, with market value growth rates of 45.08%, 42.36%, and 40.95%, respectively. Among them, Haima Automobile Co., Ltd. officially “takes off the hat” on May 27, the stock abbreviation was changed from “ST Haima” to “Hippocampus Automobile”, and the daily limit on stock trading prices changed from 5% to 10%. Regarding this “decap”, Haima Automobile stated in the announcement that after a series of strategic adjustments, the company has achieved remarkable results in innovation and reform in many fields such as technology, products and marketing. Asset quality has continued to be optimized, and its ability to continue operations has been significantly enhanced. Reinvigorate and lay a solid foundation.
In terms of new car-making forces, Weilai’s market value in May decreased by about 16.84 billion yuan, but it rose to the second place in the monthly market value list of Chinese auto companies. Wei Lai said that in May, due to fluctuations in semiconductor supply and certain logistics adjustments, delivery was adversely affected for several consecutive days. In terms of data, Weilai delivered 6,711 vehicles in May, a year-on-year increase of 95.3%.
In May, Xiaopeng Motors and Ideal Auto had a good growth momentum, with market values increasing by 9.022 billion yuan and 19.112 billion yuan respectively. Xiaopeng Auto’s monthly market value ranking remains unchanged at No. 7, and the ideal car ranks rose by one place to No. 8. In May, Xiaopeng Motors and Ideal Motors successively handed over their financial report transcripts for the first quarter of fiscal 2021. Among them, Xiaopeng Automobile’s revenue was 2.951 billion yuan, a year-on-year increase of 616.26%; ideal car revenue was 3.575 billion yuan, a year-on-year increase of 310%.
In the commercial vehicle sector, the growth of the market value of auto companies has become the main theme. Among the 9 commercial vehicle companies, 7 companies have performed well. Only FAW Jiefang and Yutongke performed poorly, but their market value fell by only 0.45% and 2.42%.
Ningde era market value exceeds one trillion
In May, the domestic auto parts sector continued to grow. Among the 19 listed parts and components companies, only 2 companies have seen a decline in market value, and the total market value of 19 listed companies increased by approximately 243.473 billion yuan in May.
It is worth noting that the total market value of the power battery giant Ningde Times exceeded 1 trillion yuan on May 31, becoming the first trillion-dollar company on the GEM. In contrast, the current A-share market value has exceeded one trillion only 8 companies including Kweichow Moutai, Industrial and Commercial Bank of China, China Construction Bank, and Wuliangye.
Since its listing on the Growth Enterprise Market in June 2018, CATL has increased its market value by more than ten times in less than three years. At present, CATL has become the company with the highest market value in China’s auto and parts industry. Its market value is approximately equal to the sum of the market value of other 18 auto parts companies, and it is also approximately equal to the sum of the market value of BYD, Great Wall Motors, and Geely Auto.
In addition, companies in the new energy power battery industry chain performed well in May. The market value of Yiwei Lithium Energy, Ganfeng Lithium, Tianqi Lithium and Funeng Technology have increased by approximately 25.21%, 20.82%, 17.82% and 20.66% respectively. According to the reporter’s understanding, this has a certain relationship with the current shortage of power batteries in the market. A car company executive revealed to reporters that the new energy vehicle market has grown rapidly this year, and the power batteries required for new energy vehicles are currently in a tight supply.
In terms of decline, Huayu Automobile ranked first in the sector with a decline of 6.09%, and fell three places in the market value rankings.
More than half of the dealer groups’ market value has shrunk
In terms of auto dealer groups, in May, of the 11 domestic auto dealer groups, the market value of 5 increased from the previous month, while the market value of the remaining 6 shrank. Although the market value of more than half of the companies has declined, overall, the total market value of the 11 dealer groups still increased by 11.99 billion yuan from the previous month.
Among the five auto dealer groups whose market value has risen, the market values of the four companies, Xinfengtai Group, Rundong Automobile, Zhongsheng Holdings, and SINOMACH, have all increased by more than 10% from last month. Among the six companies that have shrunk in market value, Guanghui Baoxin and Zhengtong Automobile have fallen the most, down 19.94% and 11.75% respectively.
Although the total market value of dealer groups has increased, the operating pressure is still not to be underestimated. According to the latest issue of the “China Automobile Dealers Inventory Alert Index Survey” released by the China Automobile Dealers Association, the inventory alert index for auto dealers in May was 52.9%. Although the inventory alert index fell by 1.3 and 3.5 percentage points year-on-year and month-on-month respectively, the inventory alert index Located above the line of prosperity and decline.
The China Automobile Dealers Association believes that the May Day holiday partly replaces the Spring Festival holiday and returning home, which in turn affects the number of stores and transactions. After the holiday, due to the recurrence of epidemics in many places, extreme weather in the south, and busy farming in some areas, market demand was insufficient, and sales were basically the same month-on-month.
In addition, entering the second quarter, the global automotive “core shortage” problem has intensified, and car companies have also begun a new round of shutdown and production reduction plans. Huatai Securities believes that the auto dealership sector is a clear target for benefit in the context of upstream production cuts. Production cuts by auto manufacturers are conducive to the decline in inventory of downstream auto dealers. The improved supply and demand relationship will also result in a narrowing of discounts for new car sales. The gross profit margin of new car sales of auto dealers is expected to improve, and the decline in inventory will also reduce dealers’ funds. Stress and improve cash flow.
However, from a long-term perspective, if the core shortage problem is not alleviated, it will eventually harm the vital interests of distributors. The China Automobile Dealers Association believes that the shortage of chips has caused manufacturers to implement production reduction plans. Some dealers said that there is a shortage of supply for hot-selling models. The prolonged delivery cycle of vehicles has led to unstable sales, and funds are trapped in vehicles in transit, and turnover is tight. Coupled with the rising cost of raw materials, manufacturers have tightened their promotional policies, and dealers have increased their operating pressure.