Guojin Securities believes that the prices of cathode materials NCM523&NCM622 and 6F (domestic) fell this week, while the prices of other links are more stable. Considering the contribution value of automobile and its related industries to GDP and the size of employees, it is expected that a wider range of stimulus policies can be expected, the stimulus means may not be limited to: car purchase subsidies, new energy vehicle purchase tax relief extension or gradient withdrawal, cars to the countryside, and so on. Fundamentals, policy and valuation bottom, optimistic look at the follow-up market. Since the fourth quarter of 2021, the battery, vehicle, parts plate has declined greatly, and the plate valuation is near the bottom of the last two years. The 22-year PE valuation of battery, vehicle and auto parts head companies has entered 30-40 times, 10-30 times and 20-30 times. At present, the industry is at the bottom of fundamentals, policy and valuation, and the market initially reflects the repair of the supply side (resumption of work and production of the industrial chain in the Yangtze River Delta). It is expected that the follow-up will gradually interpret demand repair, policy stimulus expectations and so on. In terms of investment ideas, it is suggested to pay attention to: Tesla, Inc. and BYD industrial chain, new energy vehicles account for a relatively high proportion of revenue, A0-class vehicles account for a high proportion of income.
国金证券点评新能源汽车行业:三重底已筑 乐观看后续行情
Guojin Securities comments on New Energy Automobile Industry: triple bottom has been built optimistic to look at the follow-up market
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The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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