Sales of new energy vehicles increased year-on-year, and upstream parts and components companies have expanded production

Recently, BYD Co., Ltd. (stock abbreviation: BYD, stock code: 002594. SZ) released its January 2022 Production and Sales Express. In January, BYD sold 93,168 new energy vehicles, an increase of 361.73% year-on-year, and the total installed capacity of new energy power batteries and energy storage batteries was about 4.770GWh.

At the same time, we combed the announcement and found that due to the growth of downstream new energy vehicle sales, Wuxi Weitang Industrial Technology Co., Ltd. (stock abbreviation: Weitang Industry, stock code: 300707. SZ), Ningbo Tuopu Group Co., Ltd. (stock abbreviation: Tuopu Group, stock code: 601689. SH), Nanjing Chervon Automobile Precision Technology Co., Ltd. (stock abbreviation: Chervon Automobile, stock code: 603982. SH), Zhejiang Shuanghuan Transmission Machinery Co., Ltd. (stock abbreviation: Shuanghuan Transmission, stock code: 002472. SZ) and other auto parts listed companies plan to expand the production capacity of new energy vehicle-related parts products to meet the needs of downstream customers.

Source: Photo Network

BYD's sales of new energy vehicles have increased by more than 3 times, and the strategic layout has become more and more perfect

According to BYD's announcement on February 7, 2022, in January 2022, BYD sold a total of 95,422 vehicles, an increase of 125.05% year-on-year. Among them, the sales of new energy vehicles were 93168 units, an increase of 361.73% year-on-year, and the sales of fuel vehicles were 2254, down 89.86% year-on-year.

In terms of market segmentation, in January, BYD sold 92,926 new energy passenger cars, an increase of 367.65% year-on-year, and sold 146 new energy buses, down 16.57% year-on-year. Among passenger cars, BYD sold 46,386 pure electric passenger cars (EV models), an increase of 220.72% year-on-year, and sold 46,540 plug-in hybrid passenger cars (DM models), an increase of 760.58% year-on-year.

By model, in January, BYD sold 12,780 Han vehicles, with the cumulative sales of Han exceeding 170,000 vehicles; the sales of 9,060 Tang vehicles, the cumulative sales of the Tang family exceeded 300,000 vehicles; the sales of 22,449 Song vehicles, the cumulative sales of the Song family exceeded 1.07 million vehicles; the sales of 26,542 Qin vehicles, the cumulative sales of the Qin family exceeded 530,000 vehicles; the sales of 8,596 vehicles, the sales of the Yuan family increased by 1643.6% year-on-year, the cumulative sales of more than 230,000 vehicles; the sales of 4364 e-series, The cumulative sales of the e-series exceeded 80,000 units; the sales of Dolphin 10,602 units, an increase of 5.9% month-on-month, Dolphin is the first model of BYD's e-platform 3.0, with cumulative sales of more than 40,000 units.

According to the investor relations activity record table released by BYD, in terms of sales network, BYD's passenger cars are sold through two sales networks, Dynasty Network and Ocean Network, which is a comprehensive sales network newly released by BYD in November 2021, including the pure electric marine life series equipped with e-platform 3.0 technology and the warship series equipped with DM-i super hybrid technology. Among them, after the launch of the first model of the pure electric marine life series" "Dolphin", BYD plans to launch new models such as "Seagull", "Seal" and "Sea Lion" in the future to further expand the product series; the warship series is deeply bundled with DM-i super hybrid technology, and fully exerts efforts in the new energy and fuel vehicle markets, playing the role of fuel vehicle disruptors.

In the field of intelligent driving, on December 23, 2021, BYD signed a strategic cooperation agreement with Shenzhen Sagitar Juchuang Technology Co., Ltd., a technology company of intelligent lidar system; on December 24, BYD and Beijing Chu Speed Technology Co., Ltd. (hereinafter referred to as "Chu Speed") held a joint venture company unveiling ceremony in Shenzhen to establish Shenzhen Dipai Zhixing Technology Co., Ltd. (hereinafter referred to as "Dipai Zhixing"), which will rely on BYD's intelligent technology and deep vertical integration capabilities. As well as the accumulation of technology in intelligent driving for many years, we are committed to creating high-level intelligent driving solutions for the future.

In January 2022, the third-generation pure electric driverless delivery vehicle jointly developed and designed by BYD and the American science and technology innovation company Nuro was officially released, and it is scheduled to be put into mass production in early 2023. In this partnership, BYD is responsible for vehicle development, vehicle testing, and manufacturing, as well as providing core first-level assembly components such as blade batteries, motors, electronic controls and human-computer interaction, while Nuro provides technologies such as autonomous driving, gateways, control modules and sensors. The production of the whole vehicle is completed by BYD's Plant in China, and the assembly of vehicle power batteries and autonomous driving parts is completed by BYD's Lancaster plant in the United States.

In August 2021, BYD delivered the first Tang EV in Norway, and in December, the 1,000th Norwegian Tang EV was successfully delivered, and BYD completed a new milestone in the European passenger car market. On January 26, 2022, BrandFinance, a world-renowned brand value evaluation and consulting organization, released the 2022 Global Brand Value Top 500 Report, and BYD ranked first among Chinese auto brands.

A number of new energy vehicle companies released January data, which increased year-on-year

In addition to BYD, Xiaopeng Automobile, Ideal Automobile, Weilai Automobile, Nezha Automobile, Zero-run Automobile, GAC Aian and many other car companies also released January sales data.

Xiaopeng Automobile delivered 12,922 vehicles in January, an increase of 115% year-on-year, and the cumulative delivery volume exceeded 150,000 units in history. Among them, in January, Xiaopeng Automobile delivered a total of 6707 units of Xiaopeng P7, 4029 units of Xiaopeng P5, and 2186 units of Xiaopeng G3 series. As of the end of January 2022, the historical cumulative delivery volume of Xiaopeng P7 exceeded 80,000 units. In addition, Xiaopeng Automobile said that it carried out a technical transformation of xiaopeng Zhaoqing base during the Spring Festival shutdown from the end of January to the beginning of February 2022, and after the completion of the transformation, its large number of orders in hand is expected to accelerate delivery.

In addition, in order to support the continuous expansion of the scale of users, Xiaopeng Automobile will continue to accelerate the construction of the layout charging network. As of January 17, 2022, Xiaopeng Automobile has launched a total of 813 brand supercharging stations and 166 destination charging stations in 333 prefecture-level administrative divisions and 4 municipalities directly under the central government.

NIO delivered 9,652 new vehicles in January, an increase of 33.6% year-on-year, and the cumulative number of vehicles delivered reached 176722 units. At the same time, in January, WEINA added a total of 5 new NIO centers, and there are already 42 NIO centers in the country. The world's first Weilai used car experience store also opened in Hangzhou Motor City in January.

In terms of charging and replacing power stations, in January, WEIO added a total of 59 new substations, 63 supercharge stations, 29 destination charging stations, and more than 20,000 third-party charging piles. As of the end of January, NIO had 836 substations, 668 overcharge stations, 655 destination charging stations, and access to more than 470,000 third-party charging piles nationwide. NIO said that in 2022, NIO will complete the goal of accumulating more than 1,300 substations.

Ideal Auto delivered a total of 12,268 Ideal ONE units in January, an increase of 128.1% year-on-year, and delivered more than 10,000 units for three consecutive months. The cumulative delivery volume of the ideal ONE has reached 136356 units. As of the end of January 2022, Ideal Auto has 220 retail centers across the country, covering 105 cities, and has 276 after-sales maintenance centers and authorized sheet metal spray centers, covering 204 cities.

In addition, the delivery volume of Nezha Automobile in January was 11,009 units, an increase of 402% year-on-year, and the monthly delivery volume exceeded 10,000 yuan for three consecutive months; the delivery volume of zero-run cars in January was 8,085 units, an increase of 434% year-on-year, and the year-on-year growth rate exceeded 200% for ten consecutive months; and the sales volume of the whole car series in January was 16,031 units, an increase of 118% year-on-year.

Sales of new energy vehicles have increased, and parts companies have expanded production

Due to the growth of new energy vehicle sales, Weitang Industry, Tuopu Group, Chervon Automobile, Shuanghuan Transmission and other upstream auto parts enterprises plan to expand the production capacity of new energy vehicle related parts products to meet the needs of downstream customers.

On February 7, 2022, Weitang Industry issued an announcement that in January 2022, Weitang Industry and the People's Government of Qingcun Town, Fengxian District, Shanghai signed the "Investment Intention Agreement between Wuxi Weitang Industrial Technology Co., Ltd. and the People's Government of Qingcun Town, Fengxian District, Shanghai", and Weitang Industry intends to settle down and set up a new subsidiary in the administrative area of Qingcun Town, Fengxian District, Shanghai by purchasing suitable industrial land use rights or leasing suitable industrial housing carriers, and intends to build a new new energy vehicle core parts production capacity project.

Weitang Industry is mainly engaged in the research and development, design, manufacture and sales of automotive stamping dies and related products, and its main products are automotive stamping dies, gauges, automotive stamping parts and related industrial automation products. According to the announcement, the direct customers of Weitang Industrial Automotive Stamping Die Products include Magna Group, Brose Group, Lear and other internationally renowned auto parts companies, and are finally used in many models of world-renowned automobile groups such as Porsche, Tesla, Mercedes-Benz, BMW, Audi, Jaguar, Land Rover, Volkswagen, GM, Foton, Chrysler, Honda and so on.

According to Weitang Industry's performance forecast, in 2021, Weitang Industry is expected to achieve a net profit attributable to the mother of 45 million yuan to 55 million yuan, an increase of 41.59% to 73.05% year-on-year. Weitang Industry said that the performance growth in 2021 is mainly due to the recovery of the downstream new energy vehicle market, and the company's stamping parts business revenue has increased significantly compared with the same period last year.

Coincidentally, in December 2021, Tuopu Group and the People's Government of Shapingba District of Chongqing Signed the "Project Cooperation Agreement on the Production Base of Lightweight Chassis System and Interior Sound Insulation System of Tuopu New Energy Vehicles", and Tuopu Group plans to invest about 1.5 billion yuan in Shapingba District of Chongqing Within 5 years to build production bases for new energy vehicle product lines in phases. The first phase of the project plans to lay out the production base of lightweight chassis system and interior sound insulation system for new energy vehicles, and the second phase of the project plans to lay out automotive electronic systems and thermal management systems.

According to the announcement, due to the accelerated increase in orders and the gradual landing of emerging projects, Tuopu Group urgently needs to continuously expand its production capacity reserves to meet the development needs of international and domestic business, so it decided to invest in the construction of a production base in Chongqing. According to the performance forecast released by Tuopu Group, in 2021, Tuopu Group is expected to achieve a net profit attributable to the mother of 1.05 billion yuan to 1.15 billion yuan, an increase of 67% to 83% year-on-year. Tuopu Group said that the performance growth in 2021 is mainly due to its grasp of the market opportunities in the new energy automobile industry, continuously expand the intelligent electric related product line, actively expand the international and domestic intelligent electric customer base, rely on system research and development and modular supply capabilities, innovate business models, significantly increase the amount of bicycle supply, and achieve rapid growth in the new energy vehicle business.

In addition, recently, Chervon Automobile and Shuanghuan Transmission have issued non-public A-share stock plans. According to the plans of the two companies, their fundraising projects include new energy vehicle parts production capacity construction projects.

The total amount of funds to be raised by Chervon Automobile shall not exceed RMB2.284 billion. According to the plan, the fundraising project includes the new energy parts production base project, with a total investment of 464.3748 million yuan, and the raised funds are planned to be used for 388.8448 million yuan. In addition, Chervon Automobile's fundraising project also includes the European production base project for intelligent manufacturing of auto parts (hereinafter referred to as the European production base project), with a total investment of 438.2723 million yuan and plans to use the raised funds of 379.1226 million yuan. According to the plan, the European market is an important market for New Energy Auto parts of Chervon Automobile, and the implementation of the European production base project is conducive to Chervon Automobile's accelerated integration into the European supply chain system and expanding its new energy business layout in the European market.

The total amount of funds to be raised by Shuanghuan Transmission shall not exceed RMB2 billion. According to the plan, in this fundraising project, the yuhuan factory high-precision new energy vehicle transmission gear digital intelligent manufacturing construction project phase I and phase II and the Tongxiang factory high-precision new energy vehicle transmission gear digital intelligent manufacturing construction project are related to new energy vehicle transmission gear products. The total planned investment of the above three projects is 1.436 billion yuan, and the total amount of funds to be used is 1.06 billion yuan.

In addition, according to the double-ring transmission performance forecast, in 2021, the double-ring transmission is expected to achieve a net profit attributable to the mother of 316 million yuan to 336 million yuan, an increase of 516.82% to 555.85% year-on-year. Double-ring transmission said that it has seized the market opportunity in the field of new energy vehicle drive system gears, and the penetration rate of new energy vehicles has increased as one of the main reasons for its performance growth.