On December 8, auto parts set off a tide of rise and stop, as of press time, Best (300580) rose 13%, Di ShengLi (603335), Xiyi shares (002265), Changchun Yidong (600148), Yapu shares (603013), Yueling shares (002725), Hunan Tianyan (600698) and other shares rose and stopped.
Auto parts doubled
Recently, the auto parts sector has become one of the most sought after hot sectors in the market. According to the statistics of the 300033, since November, the auto parts sector has begun to strengthen, as of the close of December 1, the highest increase in the sector index reached 30%, and the index has recently adjusted, but the overall trend is still in an upward trend.
In terms of individual stocks, the stock price of many stocks has doubled in less than a month, with the increase of nearly 20 days, Tongxin Transmission rose by more than 200%, Admiralty shares (301133) rose by 190%, Zhengqiang shares (301119), Dadi Electric has also doubled, Zhongjie Seiko (301072), Zhejiang Dawn (603048), Rongtai shares (605133), Junda shares (002865) rose by more than 50%.
The recent high prosperity of the auto parts sector mainly comes from the expectation of improvement in the downstream automotive industry. Previously, due to the price increase of bulk, raw materials, freight, etc., the cost of the auto parts industry rose sharply, and at the same time, the terminal passenger car market was under pressure due to lack of cores and production and sales, and the overall performance of the plate in the third quarter of this year was not good. After entering the fourth quarter, automobile production and sales continued to recover, and the auto parts sector industry is also expected to benefit.
Zheshang Securities (601878) also pointed out that the improvement of chip supply will bring about the replenishment demand of the passenger car industry, and the industry is expected to enter the replenishment cycle in Q4 and 2022, and wholesale sales are expected to exceed expectations. In the future, with the recovery of the downstream boom, the industry enters the replenishment cycle, the capacity utilization rate rises, and the cost of raw materials, freight and other costs declines, and the performance of parts and components companies with large operating leverage is more flexible, and the plate is expected to usher in the Davis double-click.
Brokerage firms strongly push this subdivision track growth rate or up to 40%
According to incomplete statistics, a number of sell-side researchers have recently recommended auto parts. Cui Yan, an analyst at Huaxi Securities (002926), pointed out that with the advancement of the wave of intelligent electrification of automobiles, the industry order has been reshaped, followed by the golden decade of the development of the automotive industry. "This round of auto parts market started in early October, which is not only a short-term improvement and repair, but also a medium- and long-term order reshaping, and firmly look at the opportunities of the future market of long-term parts."
CICC (601995) also recommends focusing on investment opportunities in the parts sector, and CICC mainly divides investment opportunities into two main lines: 1) the traditional track continues to enjoy marginal improvement; 2) the new track provides sufficient performance.
It is worth noting that caixin securities recently strongly recommended the thermal management track in auto parts in the research report. The brokerage pointed out that compared with traditional fuel vehicles, the new energy vehicle air conditioning system needs active heating, and also increases the battery thermal management system and the motor electronic control thermal management system, so the demand for thermal management system upgrades is particularly urgent.
In view of its future development space, Caixin Securities has calculated that the global passenger car thermal management market space in 2025 will be 298.7 billion yuan, of which the new energy passenger car thermal management market space will be 176.1 billion yuan, and the compound growth rate in the next 5 years will reach 40%.
In terms of investment advice, Caixin Securities recommends paying attention to domestic high-quality companies with leading advantages in the industry, and it is recommended to pay attention to the domestic new energy vehicle thermal management leader, as well as Tesla supporting supplier Sanhua Zhikong (002050), the domestic heat exchanger leading supplier Yinlun Shares (002126), and the domestic cooling pipeline head enterprise Zhongding Shares (000887).