Zhitong Financial APP learned that Citic Construction Investment recently released a research report saying that since April this year, some domestic mainframe factories and core parts factories have stopped production and reduced production, supply has been restricted again, and tram sales have dropped 38% month-on-month. At the end of April, the plate inflection point appeared, and the sales performance in May and June once again exceeded market expectations. June and August are expected to be a strong support for the increase in sales for the whole year. Q3 will continue to exceed expectations as new power production capacity climbs and new models are delivered, helping to impact annual sales of 6.5 million vehicles. In view of the many driving factors of sales in the second half of the year, sales are strong and will continue to exceed expectations, now is the best time to invest in new energy vehicles, the certainty on the right side of the plate is strong.

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In early April, it was suggested that the epidemic situation in Shanghai had a greater impact on electric vehicles than photovoltaic, and the plate was under periodic pressure.On June 5, the report "increasing the production and sales of electric vehicles for the whole year and raising the average price of photovoltaic silicon for the whole year" was issued, raising the forecast for the whole year to 570-5.9 million vehicles. On June 19th, a report was released that "the centralized listing of new models will be the core force for the production and sales of electric vehicles to exceed expectations in the second half of the year." it is stressed that the vehicle model will promote the production and sales of electric vehicles to exceed expectations in the second half of the year.

In view of the fact that the industry data continue to exceed our expected upper limit in this issue.Once again, the production and sales of electric vehicles are expected to reach 6.5 million for the whole year, and there is a high probability that they will continue to exceed expectations.The main contribution of tram sales exceeding expectations is that there are many non-hot independent brands, rather than the main models that are well known in the market. After a large number of models are centrally listed, the increased recognition / recognition of trams brought about by the sound and selective increase of the model matrix, and the continuous release of industry sales.

According to the follow-up rhythm, due to the influence of Tesla, Inc. 's scheduling in July, production and sales only went up to a small extent, but it is expected that in August, with the release of production capacity after the transformation of Tesla, Inc. 's production line, the year-on-year slope of production and sales began to be steep.The upper and middle reaches of the industrial chain will feel bursts of warmth and more obvious marginal changes in July, which is very similar to May-June last year.

Looking back on the super market in 2021: the sales volume in April and May bottomed out month on month, and the plate bottomed out ahead of schedule; production and sales exceeded expectations in June, but in May, the industrial chain has already been warmed up, the super market has been launched, and production and sales are expected to be revised up in an all-round way. In view of the many drivers of sales in the second half of this year, especially in July, we believe thatNow is the best time to invest in new energy vehicles, and the right side of the plate has strong certainty.

Although the current permeability has reached more than 25%, we are still optimistic that the tram will continue to exceed expectations: in the short term, it is the increase in volume brought about by the prominent advantages of plug-in, and in the long run, the structural changes will continue, that is, the conversion from plug-in to pure electricity and the increase in battery charge per bike, there is still a broad space for lithium demand. The number of models is a forward-looking indicator of sales performance. 22H2 will have at least 35 important new models to be delivered in 23 years, and we expect tram sales to be 10 million in 23 years.