Zhitong Financial APP learned that Sino-Thai Securities released a research report saying that the intelligent development of automobile electric power will accelerate in 2021, and the plate will perform well. Intelligent matching will become an important direction to create product differentiation and attract consumers to buy. New power car companies lead the development of the industry, a number of L2 + and above models will be mass-produced in 2022, traditional car companies are bound to follow to maintain product competitiveness, and then drive intelligent hardware equipment to speed up the car. Automobile electric intelligence is the general trend, as the prosperity continues to be confirmed, the rebound market led by IGBT is expected to continue. It is suggested that we should pay attention to the core target of automobile electric intelligence, and grasp the two main lines of "vehicle volume" and "domestic substitution": intelligent driving:603501.SH, 002036.SZ, 603297.SH, Shunyu Optics (02382), 603005.SH; smart cockpit:Changxin Technology (300088.SZ), Longli Technology (300752.SZ), Crystal Optoelectronics (002273.SZ)Electrification:Time Electric (03898), Starr Semiconductor (603290.SH), Silan Micro (600460.SH), Macro and Micro Technology (688711.SH), Xin Wanda (300207.SZ), World Games Circuit (603920.SH), Electric connection Technology (300679.SZ)。
The main points of Zhongtai Securities are as follows:
The performance of the plate deviated from the prosperity in January, and the counterattack began in February.
Affected by the holiday effect and capital flow in January, automotive electronics plates at home and abroad showed varying degrees of pullback, which deviated from the high economy of automobile electric intelligence. In February, the automotive electronics sector launched a counterattack, with the domestic electric vehicle index up 3.7% and the smart car index up 1.3%. Among the major plates, IGBT made a strong upward move to confirm the scene and led the entire automotive electronics plate to rebound in late February. Under the influence of subsidies and Spring Festival factors, the delivery volume of new power car companies still increased significantly in January compared with the same period last year, coupled with the catalytic delivery of a number of high-level smart cars this year, the trend of electric intelligence of cars is clear up, and the rebound market led by IGBT is expected to continue.
Sales of electric vehicles continue to boom, with monthly sales of new energy vehicles climbing higher.
In January, sales of new energy vehicles in seven major European countries totaled 114000, with a year-on-year drop of + 37%, a decline of 46%, and a penetration rate of 19%. Domestic sales of 431000 new energy vehicles increased by 141%, down by 19%, and the penetration rate was 17%. In January, the wholesale sales of new energy vehicles in China exceeded 10,000, an increase of 6 over the same period; the delivery volume of new forces continued to be eye-catching, with better performance than the same month-on-month data. XPeng Inc., ideal, and Nezha exceeded 10,000 vehicles, and zero running quickly increased the number of vehicles to 8085. January-February is generally the off-season of car sales, coupled with the decline of subsidies and pre-festival orders, the sales of new energy vehicles at home and abroad are still high compared with the same period last year, highlighting the magnificent demeanor of electric vehicles.
22 years of intelligent hardware equipment accelerated boarding, and the output of lidar increased.
Intelligent matching will become an important direction for automobile companies to create product differentiation and attract consumers to buy. At the same time, OTA technology ensures continuous upgrading of intelligent functions. In 2022, including Mercedes-Benz S, BMW ix, NIO Inc. ET7/ET5, XPeng Inc. G9, ideal X01 and other high-level smart cars will be delivered, setting off a big wave of automobile intelligence. Lidar has an irreplaceable advantage of environment perception in high-level self-driving. Under the trend of hardware pre-embedding, high-level intelligent vehicles land to accelerate lidar boarding. The early fixed-point orders of the whole machine manufacturers, such as Quoteng Juchuang, Wesai Technology, Valeo and Tudatong, will be gradually released, which will lead to the growth of upstream parts manufacturers.
Subsequent catalytic events:From March to April, it is expected that BYD Han DM-i, BMW iX1, NIO Inc. ES7, ideal X01, BMW i7 and other blockbuster models will be officially launched. Huawei's first Hongmeng car M5, NIO Inc. ET7, Zhiji L7, Changan UNI-V, Zero C11 performance version and Avita 11 will be delivered one after another; the simultaneous Forum of SAE and GIVC Global Smart Automobile Conference will be held on March 5-6, and the 2022 Beijing International Automobile Exhibition will be held in April.
Risk Tips:The penetration rate of electric vehicles is lower than the expected risk; the development of automobile intelligence is not as good as the expected risk; the information used in the research and report is not updated in a timely manner.
This article comes from the Zhongtai Securities Electronics Industry report, analyst: Wang Fang, Zhitong Financial Editor: Yang Wanlin