Introduction: The dust of the Fed's interest rate hikes has settled, China's decision-makers have introduced policies to support the bottom, and auto stocks have finally reversed the trend of continuous decline last week; at the bottom of the market, in the rapidly changing capital market, confidence is particularly important.
【Key Points】
The dealer sector performed best, with stock prices rising 5.98% and a market value of about 13 billion yuan;
The passenger car sector rose 4.26%, and the market value increased by 160 billion yuan;
The new energy & intelligent sector rose by 1.7%, and the market value thickened by about 78 billion yuan;
The parts and commercial vehicles segment remained weaker, but the decline narrowed to 2.39% and 0.92%.
In the 11th week of 2022, the 71 listed companies registered in the automotive K-line statistics finally bottomed out and recovered, ending a continuous week of decline, with the average stock price rising by 2.09% and the market value increasing by 242.98 billion yuan; the number of stocks turning red also increased to 34.
Although the thickening of the more than 240 billion yuan is still difficult to make up for the more than 1 trillion yuan of market value that evaporated in the first half of March, in the capital market, investment confidence and optimistic expectations are more important than gold; it may only be a matter of time before they return to the rising channel.
In terms of the broader market, the Hang Seng Index completed a "V" rebound last week and rose by 4.18%; the Shanghai Composite Index and the Shenzhen Composite Index rebounded but were not strong enough, continuing to close down by 1.77% and 0.95% respectively, but it was significantly stronger than the previous decline of more than 4%.
From the overall list, the performance of Chinese stocks in the automobile industry is extremely strong, covering the top four gains, namely Autohome up 33.14%, Weilai up 29.81%, Ideal Auto up 27.15%, Xiaopeng Auto up 25.58%; Autohome H shares ranked fifth with an increase of 18.14%, basically no SSE and SZSE auto industry-related companies.
In terms of declines, Guanghui Baoxin and Meidong Automobile from the dealer group sector led the decline, falling by 13.39% and 8.2% respectively; FAW Fuwei and Fuyao Glass in the parts sector fell 5.46% and 4.7%, entering the top five declines.
Below, the automotive candlestick divides the stocks on the record into five major sectors and analyzes them one by one.
01 Passenger cars: the top three U.S. stocks retaliated and dominated the list
In the 11th week of 2022, the stock prices of 18 listed companies in the (passenger car) vehicle sector rose by an average of 4.26%, and the market value increased by 163.6 billion yuan. Of these, 12 stocks rose and 11 fell, and Brilliance China continued to suspend trading.
Specifically, the US stocks of WEILAI, Ideal Auto and Xiaopeng Automobile rose by 29.81%, 27.15% and 25.58% respectively, ranking in the top three of the passenger car sector and occupying the second to fourth places in the overall list. As of the close of trading on March 18, the market value of the three new car-making forces increased by a total of 123 billion yuan.
Among them, Weilai refreshed the 52-week minimum of $13.01 / share in the intraday on March 15, but on March 16, it "retaliated" rebounded by 25.59%; the ideal car rose as high as 31.9% on the 16th; while Xiaopeng Automobile rose by 29.55%, the stock just refreshed the 52-week minimum of $18.01 / share on the 14th.
On the news side, on March 16, the Fed raised interest rates "boots to land", raising the target range of the policy rate federal funds rate by 25 basis points to 0.25% to 0.5%, which is the fed's first rate hike since December 2018, in line with market expectations.
This move contributed to the sharp rise in the US stock market, but whether this wave of rising market can be sustained or not is still a question mark. From a fundamental point of view, the sustained high inflation in the United States is difficult to alleviate for a while.
In addition to U.S. stocks, A shares and H shares also collectively rose last week, or related to the positive signals released by the relevant state departments.
On March 16, the Financial Stability and Development Committee of the State Council held a special meeting to study the current economic situation and capital market problems; the meeting mentioned actively introducing policies that are beneficial to the market and prudently introducing contractionary policies. On the same day, the Banking and Insurance Regulatory Commission also proposed to actively support the smooth operation of the capital market at the meeting.
This undoubtedly injected a shot in the arm into the market, swept away the panic that had previously spread in the capital market, and became an important turning point affecting the trend of the stock market.
The H-shares of the three new car-making forces performed slightly less, with Weilai rising 2.46%, Ideal Automobile and Xiaopeng Automobile falling by 0.1% and 2.66% respectively.
In addition, Evergrande Automobile rose by 11.75%, or related to the fact that its Hengchi 5 passed the publicity period of the ministry of industry and information technology for new cars and had sales qualifications.
In terms of declines, Beiqi Blue Valley, Great Wall Motor A shares and Haima Motors fell by more than 4%, becoming the top three decliners, and the rest of the stocks that fell in stock prices fell within 4% weekly.
Just on March 16, when "Putian Tongqing", Beiqi Blue Valley refreshed the intraday minimum of 6.95 yuan / share in 52 weeks, and as of the close of trading at 7.54 yuan / share on the 18th, the market value was reduced to 32.3 billion yuan. How big can the polar fox of Beiqi Blue Valley support the market value?
Coincidentally, On March 16, Great Wall Motors also refreshed the 52-week minimum of 26.57 yuan / share. It is worth mentioning that from March 18, Zhao Guoqing will succeed Wang Fengying as vice chairman of Great Wall Motors. Great Wall Motor's "second boss" waved goodbye, there will certainly be a lot of reluctance; helpless no one is always young, but there are always young people.
Overall, the passenger car sector picked up significantly last week, but I don't know if this upward channel can continue to open.
02 Dealers: Autohome double-share counterattack led the rise
In the 11th week of 2022, the stock price of the auto dealer group segment rose by an average of 5.98%, with the strongest increase performance and a market value of 12.8 billion yuan. Among them, more than half of the stocks turned red, and the auto home performance was the most eye-catching.
Last week, Autohome's U.S. stocks rose 33.14 percent, H shares rose 18.14 percent, and the combined market value increased by nearly 10 billion yuan; in the previous week, the two stocks were still at the bottom.
In addition, Sinomaking Automobile rose by 15.88%, and Zhengtong Automobile rose by 10.42%. Among them, the former sealed the limit on the 18th, and the latter rose continuously in the last three trading days of last week. On the news side, on March 18, China National Machinery Automobile received a sharp inflow of 74.2028 million yuan of main funds.
In terms of declines, Guanghui Baoxin bottomed out with a decline of 13.39%, and Meidong Automobile ranked second from the bottom with a decline of 8.2%, and both stocks ranked at the bottom of the overall list at the same time. In addition, Guanghui Automobile and Huge Group fell by 3.33% and 2% respectively.
Among them, Guanghui Baoxin fell by more than 10% for two consecutive days on the 14-15th, and there was a 52-week minimum of 0.42 Hong Kong dollars / share; Meidong Automobile and Guanghui Automobile also brushed out a 52-week minimum of 24.7 Hong Kong dollars / share and 2.17 yuan / share, respectively.
At present, Yongda Automobile and Zhongsheng Holdings disclosed their 2021 results, and the net profit attributable to the mother was 2.48 billion yuan and 8.329 billion yuan respectively, an increase of 52.6% and 50.3% respectively year-on-year. With this, Yongda Automobile rose sharply by 23% on the 16th, while Zhongsheng Holdings rose by 2%.
Next, the dealer group will successively hand over the 2021 performance answer sheet, who will become a "dark horse" with solid performance? Worth looking forward to.
03 New energy & intelligence: Ewell lithium energy led the rise, and the market value of the plate returned to nearly 78 billion
In the 11th week of 2022, the 22 individual stocks involved in the 21 new energy & intelligent related listed companies turned from falling to rising, with an average stock price increase of 1.7% in one week and a cumulative increase in market value of 77.901 billion yuan. Among them, 12 stocks increased their stock prices, and 10 stocks with declining stock prices.
Specifically, Yiwei Lithium Energy led the sector with a weekly increase of 10.99%, as of the close of march 18, the stock was reported at 84.7 yuan / share, a weekly market value increase of 15.93 billion yuan.
On March 14, Ewell Lithium Energy issued an announcement that the company implemented the repurchase of shares for the first time through the special securities account for share repurchase in a centralized auction transaction, the number of repurchased shares was 710,000 shares, accounting for 0.04% of the company's total share capital, the highest transaction price was 72.25 yuan / share, the lowest transaction price was 71.36 yuan / share, and the total transaction amount was about 50.9244 million yuan (excluding transaction fees).
In addition, Sunwoda and Dangsheng Technology ranked second and third in the sector with weekly gains of 8.85% and 8.6% respectively; as of the close of trading on March 18, the former was quoted at 31.13 yuan / share, a weekly market value increase of 4.349 billion yuan; the latter was reported at 83.07 yuan / share, a weekly market value increase of 3.333 billion yuan.
On March 17, Sunwoda issued an announcement that the company's subsidiary, Sunwoda Electric Vehicle Battery Co., Ltd., intends to sign the "Shifang Municipal People's Government Project Investment Agreement" with the Shifang Municipal Government, and the project investment is mainly used for the construction of new power batteries and energy storage battery cells, modules, PACK, battery systems and other production bases. The project plans to invest a total of 8 billion yuan and plans to build a 20GWh power battery and energy storage battery production base; the project is planned to be implemented in 2022, with a construction period of about 12 months.
In terms of decline, the decline of individual stocks in this sector is within 5%. Among them, Corun led the sector with a weekly decline of 4.67%, as of March 18, the stock was reported at 5.31 yuan / share, and the cumulative market value of the week shrank to 8.779 billion yuan.
BDStar and Joyson Electronics ranked second and third in the sector with weekly declines of 3.9% and 3.28%, respectively. As of March 18, the former reported 33.55 yuan / share, a weekly market value of 17.184 billion yuan; the latter quoted 15.33 yuan / share, a weekly market value of 20.973 billion yuan.
Overall, the sector has improved significantly, and whether this performance can be sustained is worrying.
04 Parts: Linglong tires are thriving
In the 11th week of 2022, the 10 individual stocks involved in the 9 parts listed companies fell as a whole, with an average decline of 2.39% in the week, and the cumulative market value shrank by 8.302 billion yuan. Among them, only 1 stock of Linglong Tire increased in stock price, and the remaining 9 stocks all declined.
Specifically, Linglong Tire with a weekly increase of 1.5%, thriving in the sector, as of the close of March 18, the stock reported 23.02 yuan / share, a weekly market value increased to 31.586 billion yuan.
On March 17, Linglong Tire announced that the company's controlling shareholder, Linglong Group Co., Ltd., plans to increase its shareholding in the company, with the amount of the increase not less than RMB150 million and not more than RMB200 million. There is no price range for this increase, and the period is 6 months from the date of disclosure of this announcement.
In terms of declines, only FAW Fuwei fell by more than 5%, and led the sector with a weekly decline of 5.46%, while ranking third in the overall list, as of the close of March 18, the stock was quoted at 9.69 yuan / share, and the cumulative market value of the week shrank to 6.575 billion yuan.
In addition, Fuyao Glass A-shares and Dongan Power's weekly declines of 4.7% and 4.02% respectively ranked second and third in the decline of the sector, while Fuyao Glass ranked fourth in the overall list.
On March 18, Fuyao Glass released its 2021 annual report, the company achieved operating income of 23.603 billion yuan in 2021, an increase of 18.57% year-on-year, and net profit attributable to shareholders of listed companies was 3.146 billion yuan, an increase of 20.97% year-on-year, and earnings per share was 1.23 yuan.
In addition, the Company's proposed profit distribution plan for 2021 is: Based on the total share capital of the Company as of December 31, 2021 of 2,609,743,532 shares, cash dividends will be distributed to the A-share shareholders and H-share shareholders of the Company registered on the record date of the 2021 Cash Dividend Distribution, and a cash dividend of RMB10 (including tax) will be distributed for every 10 shares, with a total dividend of RMB2,609.7 million, and the Company's surplus undistributed profit will be carried forward to the following year. I have to say that Cao Dewang is still a good leader.
On March 14, Dongan Power disclosed that the 2021 annual report showed that the company achieved operating income of 6.586 billion yuan in 2021, an increase of 22.35% over the same period of the previous year after adjustment; the net profit attributable to the shareholders of the listed company was 90.6751 million yuan, an increase of 104.8% year-on-year; and the net profit attributable to the shareholders of the listed company after deducting non-recurring gains and losses was 47.0376 million yuan, an increase of 270.87% year-on-year. Basic earnings per share were RMB0.1962 per share. It is proposed to pay a cash deposit of RMB0.59 (including tax) for every 10 shares.
During the reporting period, the company sold 671,400 units of the whole machine for the whole year, an increase of 21% year-on-year, and delivered 58,000 engines and transmissions in overseas markets, an increase of 67% year-on-year. Among them, the engine market share of 3.23%, an increase of 0.46 percentage points year-on-year, in the independent gasoline engine enterprises sales accounted for 44.88%, the market share in the domestic independent gasoline engine enterprises, new energy vehicle range power field, commercial vehicle gasoline engine market and independent AT transmission export market are ranked first.
Regrettably, although Fuyao Glass and Dongan Power have both announced a good financial report, they have not changed the overall performance of their stock prices.
As of the close of trading on March 18, Fuyao Glass A shares reported 35.71 yuan / share, a weekly market value of 4.593 billion to 93.194 billion yuan; Dong'an Power reported 6.92 yuan / share, a weekly market value of 3.198 billion yuan.
As for the rest of the stocks whose stock prices have fallen, the decline is within 4%.
05 Commercial vehicles: Ankai Bus led the rise again
In the 11th week of 2022, the 13 stocks involved in the 12 commercial vehicle sectors as a whole fell, with an average decline of 0.92% in the week, and the cumulative market value shrank by 3.03 billion yuan. Among them, only Ankai Bus and Sinotruk H shares achieved growth, and the remaining 11 stocks declined.
Specifically, Ankai Bus led the sector with a weekly increase of 13.87%, and as of the close of march 18, it closed at 4.68 yuan / share, and the market value increased to 3.432 billion yuan.
China National Heavy Duty Truck H shares ranked second in the sector with a weekly gain of 3.13%, closing at 11.86 yuan per share as of the close of trading on March 18, with a cumulative increase in market value to 32.745 billion yuan.
In terms of declines, Hanma Technology led the sector with a weekly decline of 4.48%, and as of the close of trading on March 18, it closed at 8.75 yuan / share, and its market value shrank to 5.725 billion yuan.
In addition, FAW Jiefang and Yutong Bus ranked second and third in the sector with weekly declines of 3.84% and 3.37% respectively, and as of the close of trading on March 18, respectively, they closed at 8.26 yuan / share and 8.6 yuan / share, and the weekly market value shrank to 38.443 billion yuan and 19.461 billion yuan, respectively.
On March 11, FAW Jiefang released a February production and sales report showing that the company produced a total of 17,800 vehicles in February, with a cumulative production volume of 43,900 vehicles this year, a decrease of 48.66% year-on-year; in February, a total of 21,700 vehicles were sold, with a cumulative sales of 49,900 vehicles this year, a year-on-year decrease of 58.68%.
Views of Autoskline：
After many consecutive weeks of sharp declines, in the 11th week of 2022, the overall performance of China's auto stocks finally turned from falling to rising, but because the international situation is still full of uncertainty, coupled with the repeated domestic epidemics, whether the long-awaited recovery can be sustained is worrying.
It is worth mentioning that China's auto stocks have begun to announce the 2021 financial reports, when the auto stocks can break through the haze brought by the international situation and boost the confidence of the stock market?