Industry viewpoint
Prev rose six Lianyang, the auto sector rebounded strongly. The market volume rose last week, and the Shanghai Composite Index closed at 2955.15 points on Friday, a new high for the month.Shanghai and Shenzhen 300Up 5.1%.
The performance of the automobile plate is obviously better than that of the automobile plate.Large marketThe Citic Automobile Index rose 6.8%, outperforming the market by 1.7 percentage points, of which passenger vehicles, commercial vehicles, spare parts and automobile sales and services rose 3.4%, 6.0%, 8.7% and 4.6% respectively, and the auto parts sub-industry rose sharply under the influence of good news for smart cars such as AEB.
The top 20 car companies have decided on the standard AEB, and smart cars are approaching. Twenty auto companies, including Volkswagen, General Motors and Toyota, have signed agreements driven by US authorities to make the automatic emergency brake AEB (AutomaticEmergencyBrakingSystems) system standard by 2022. AEB system uses radar sensing technology to automatically measure the safe distance and avoid rear-end collision by warning and automatic braking. It belongs to one of the functions of driver Assistance system (ADAS) and is also an important basic technology of intelligent driving. At present, the AEB system is only used in a small number of luxury or imported vehicles, but with the rise of domestic intelligent vehicles, it will have a broad market prospect in the future. Domestic auto parts enterprises actively layout the field of smart cars through R & D and innovation or overseas mergers and acquisitions. We expect that China will closely follow the footsteps of foreign countries, promote the assembly of AEB systems at the level of legal and industry development, and accelerate the development and application of smart cars. The development of related technologies will become a new growth point for domestic automobile companies in the next five to ten years. The China Automobile Association issued the "opinions on the Development Plan of the Automobile Industry during the 13th five-year Plan" to actively develop intelligent Internet-connected vehicles, and the prospect of smart cars will usher in great benefits during the 13th five-year Plan period. We mainly recommend Wanan Science and Technology and suggest to pay attention to it.Asia Pacific shares, Junsheng Electronics.
2月New energy sourcesThe heat of automobile production has decreased, and the general trend of high industrial growth remains unchanged. The output of the certificate data of the Ministry of Industry and Information Technology of New Energy vehicles from January to February 2016 is 24569 vehicles, which is lower than the production data of 37937 vehicles disclosed by the China Automobile Association, which may be related to many new energy vehicle companies printing certificates and seizing subsidies in advance at the end of last year. The first quarter of this year is still in the stage of digesting the inventory of certificates at the end of last year. The verification of fraud compensation is coming to an end, and local subsidy policies are coming out one after another. from the policy level, they are in a situation of gradual improvement. The "National five articles" has issued strong support for the development of new energy vehicles, and the official version of the 2016 government work report proposes to "vigorously develop and promote new energy vehicles dominated by electric vehicles, and speed up the construction of urban parking lots and charging facilities." the general trend of high growth of the new energy industry remains unchanged. If the subsidy policy is implemented late, it may lead to a decline in the actual production heat of new energy vehicles in the second quarter of this year. We suggest that the investment in new energy vehicles in the second quarter should focus on the companies with low valuations in the general trend, and pay attention to the targets of the new energy passenger vehicle industry chain and the ternary battery industry chain, such as Jingwei shares,Founder motorWait. Haiyuan Machinery, which is in the direction of new technology, has carried out cooperative discussions with a number of new energy vehicle manufacturers, and the application of carbon fiber vehicles is expected to land quickly, so Haiyuan Machinery will continue to be recommended.
Main risks:
1)Macro economyA sharp downward trend, carConsumptionInsufficient demand
2) the favorable policies of the industry are not up to expectations
3) more cities impose restrictions on car purchase.