Introduction: After a week of warming, the spring and cold come again, and the auto stocks have returned to both stock prices and market value.
【Key Points】
· The stock price of the dealer group sector rose by a rare 5.1%, the strongest performance, and the market value increased by 11.4 billion yuan;
· The commercial vehicle sector rose 2.36%, and the market value increased by 1.4 billion yuan;
· Shares in the parts, passenger cars, new energy & intelligent sectors fell by 0.67%, 1.76% and 2.49% respectively.
Week 12 of 2022 is a week of eclipse. This week, the crash of the China Eastern Airlines passenger plane has made the whole country sad; this week, the situation in Russia and Ukraine is still tense, and the new crown epidemic is still in chaos in many places...
In a complex and severe environment, the overall performance of auto stocks weakened again, with stock prices falling by an average of 0.19% and reducing market value by about 115.5 billion yuan. In the broader market, the three major stock indexes of the Shanghai Composite Index, the Shenzhen Component Index and the Hang Seng Index closed down collectively, falling by 1.19%, 2.08% and 0.04% respectively.
From the overall list, the number of stocks that closed up fell back to 31, and only 4 stocks rose by more than 10%, of which the top two of the list were from the dealer group sector, which were 28.43% up for China National Machinery Automobile and 13.4% for Guanghui Baoxin.
At the same time, Hanma Technology and Ankai Bus also rose by more than 10%, entering the top four of the overall list; while Weilai H shares rose by 8%, ranking fifth.
In terms of decline, Xiaokang shares bottomed out with a decline of 11.1%, and it was the only stock that fell by more than 10%; at the same time, Enjie shares, Sunwoda, Yiwei Lithium Energy, and Dangsheng Technology from the new energy & intelligent sector were in the front.
Below, the automotive candlestick divides the stocks on the record into five major sectors and analyzes them one by one.
01 Passenger cars: reduce losses, high expectations push up Weilai
In the 12th week of 2022, the stock prices of 18 listed companies in the (passenger car) vehicle sector fell by an average of 1.76%, and the market value shrank by about 50 billion yuan. Among them, only 6 stocks rose, 16 stocks fell, and Evergrande Automobile suspended trading since March 21.
On March 22, Evergrande Automobile announced that it could not publish its 2021 operating results on or before March 31. In addition, Evergrande Property, which is also in a suspended state, disclosed an inside information that about 13.4 billion deposits were found during the audit, and the pledge deposit provided for a third party has been enforced by the relevant banks.
As of the end of last year, Evergrande Property only had 14 billion in cash on its books, and 13.4 billion was taken away, which basically hollowed out the company.
It is worth mentioning that on the evening of March 22, Xu Jiayin, chairman of the board of directors of Evergrande Group, appeared at the Evergrande Automobile Hengchi 5 mass production mobilization meeting, and confidently said that it would be three months of hard work and that hengchi 5 mass production would be achieved on June 22.
"Three months of hard work", the familiar slogan sounded again; but how many "three months" can Evergrande Automobile help Xu Jiayin achieve "turnaround"?
Back to the list of passenger car sectors, last week,Weilai H shares rose with 8% gains, as of the close of trading at HK$162 per share on the 25th, the market value increased by HK$20 billion accordingly, and the stock hit a high of HK$180 during the week.
On the news side, NIO disclosed the operating results for the fourth quarter and full year of 2021. In 2021, NIO's annual automobile sales revenue reached 33.17 billion yuan, an increase of 118.5% year-on-year; the gross profit margin of automobiles was 20.1%, an increase of 7.4 percentage points year-on-year; and the net loss was 4.02 billion yuan, a decrease of 24.3% year-on-year.
According to the financial report, in 2022, NIO will deliver three new products based on technology platform 2.0. With ET7 and ET5 opening deliveries this year, can Weilai, which lags behind in delivery, usher in accelerated growth in response to outside questions about it?
In addition, it is worth mentioning that WEILAI's annual research and development expenditure in 2021 was 4.59 billion yuan, an increase of 84.6% year-on-year. This also reflects the remarks of Li Bin, chairman of Weilai, at the performance meeting, "The (reason) of our loss is mainly the investment in long-term research and development", and in the new round of price increases, Weilai is "different". However, its New Year model will increase in price.
At the performance meeting, Weilai said that it will fully achieve annual breakeven in 2024, from a loss of 10 billion yuan in 2021 to a turnaround in 2024, leaving three years for Weilai.
Haima Automobile ranked second with a rise of 7.53%, mainly on the 24th, which rose sharply by 8.79%, and closed at 5.14 yuan / share as of March 25.
Haima Automobile, which "deeply cultivates hydrogen energy vehicles", may benefit from the national policy dividend, that is, the National Development and Reform Commission and the National Energy Administration jointly issued the "Medium- and Long-term Plan for the Development of hydrogen Energy Industry (2021-2035)" to clarify the positioning and goals of the development of the hydrogen energy industry and make deployments.
The third-highest gainer was Xiaopeng Automobile H-shares, up 4.68%, BAIC Motor up 4.44%, and *ST Zotye and BYD rose less than 1%.
On the news side, at the China Electric Vehicle 100 Forum, He Xiaopeng, chairman and CEO of Xiaopeng Motors, said that Xiaopeng Automobile may complete the transition to unmanned driving in 2026; and it is expected that in the second or third quarter of next year, the battery supply situation will be greatly improved.
BAIC Motor disclosed last year's results. In 2021, BAIC Motor's revenue was 175.91 billion yuan, down 0.6% year-on-year; profit attributable to the company's equity holders was 3.86 billion yuan, an increase of 90.2% year-on-year.
However, as a major contributor to the profit of Beijing Motor, the revenue related to Beijing Benz fell by 1% to 167.97 billion yuan in 2021, and the gross profit fell by 8.1% to 42.25 billion yuan, while the gross profit of the Beijing brand fell to -4.51 billion yuan.
In terms of declines, Xiaokang shares fell to the bottom with a decline of 11.1%, as of March 25, closing at 39.66 yuan / share; Beiqi Blue Valley ranked second from the bottom with a decline of 6.76%, these two Huawei concept stocks have long lost their former scenery, and the performance in 2021 is even more difficult to say, of which the former pre-loss is about 1.5 billion-2 billion, and the latter loses 5.2 billion.
The release of 2021 results will also become one of the main factors affecting the trend of auto stocks in the next period of time.
02 Dealers: three boards in a row, China National Machinery Automobile led the rise
In the 12th week of 2022, the share price of the auto dealer group segment rose by an average of 5.1%, continuing to lead the five major sectors.
Its Chinese machine automobile led the sector and the total list with an increase of 28.43%, Guanghui Baoxin also rose 13.4%, performing well, and the rest of the red stocks rose within 10%; only three stocks in the sector, Zhengtong Automobile, Huge Group and Guanghui Automobile, declined.
Specifically, the first three trading days of Sinomach Automobile have risen and fallen. On the news side, there are rumors that Didi intends to acquire its holding subsidiary Guo Jizhijun and use its factory in Ganzhou, Jiangxi Province, to produce models for the mass consumer market.
In this regard, Sinomach Automobile said that neither it nor Sino-machine Zhijun has signed an intention agreement or cooperation agreement with other enterprises. However, since February this year, Sinomach Automobile has said on the investor interaction platform that its subsidiary Guoji Zhijun is seeking suitable strategic investors.
Guanghui Baoxin will disclose its 2021 results on March 30.
Looking at the three stocks that closed down next week, Zhengtong Automobile fell 3.77%, Huge Group fell 1.36%, and Guanghui Automobile fell 0.43%, but no important news was released.
According to the forecast of the Association of Passenger Vehicles, the retail sales of narrow passenger cars are expected to reach 1.58 million units in March, down 10.4% year-on-year.
03 New energy & intelligence: from the rise to fall, Enjie shares led the decline
In the 12th week of 2022, the 22 individual stocks involved in the 21 new energy & intelligent related listed companies fell again, with an average decline of 2.49% in one week, and the cumulative market value evaporated by 73.805 billion yuan. Among them, only 6 stocks have increased their stock prices, and 16 stocks have declined in stock prices.
Specifically, Yihuatong-U led the sector with a weekly gain of 5.97%, and as of the close of trading on March 25, the stock was reported at 163.55 yuan / share, and the cumulative market value of the week increased to 11.669 billion yuan.
On March 23, the National Development and Reform Commission issued the "Medium- and Long-term Plan for the Development of hydrogen energy industry (2021-2035)" to encourage industrial investment funds and venture capital funds to support hydrogen energy innovative enterprises in accordance with the principle of marketization, promote the transfer and transformation of scientific and technological achievements, and support qualified hydrogen energy enterprises to register and list on the Science and Technology Innovation Board and the ChiNext Board.
Boosted by this, Yihuatong-U surged 10.22%, while laying the foundation for leading the sector.
In addition, Ganfeng Lithium H-shares and Tianqi Lithium ranked second and third in the sector with weekly gains of 5.85% and 3.54% respectively; as of the close of trading on March 25, the former was quoted at HK$112.2 per share, with a cumulative market value increase of HK$8.912 billion to HK$161.285 billion in one week; the latter was quoted at 86.47 yuan per share, with a cumulative increase of 4.372 billion yuan to 127.725 billion yuan in one week.
On the evening of March 25, Ganfeng Lithium issued an announcement that the company intends to invest 315 million yuan of its own funds in the convertible bonds of Shanghai Jujingui Enterprise Management Partnership (Limited Partnership) with a maturity of two years.
In terms of declines, Enjie shares led the sector with a weekly decline of 9.51%, while ranking second in the overall list of declines, as of March 25, the stock was reported at 213.11 yuan / share, and the weekly market value shrank by 19.981 billion to 190.181 billion yuan.
Sunwoda and Ewell Lithium Energy ranked second and third in the sector with weekly declines of 7.84% and 7.37% respectively, and ranked third and fourth in the overall list of declines; as of March 25, the former reported 28.69 yuan / share, a weekly market value of 4.194 billion to 49.317 billion yuan; the latter reported 78.46 yuan / share, a weekly market value of 11.848 billion to 148.979 billion yuan.
On the evening of March 25, Sunwoda issued an announcement that the controlling shareholder, Wang Mingwang, had unpledged 9.55 million shares of the company held by him, and so far, Wang Mingwang's cumulative number of pledged shares was 55.86 million shares, accounting for 15.44% of the shares held by him.
On March 23, 2022, Ewell Lithium Energy announced that the company's directors Ai Xinping, senior management personnel Sang Tian and Jiang Min plan to reduce their holdings in the company by means of a centralized auction from April 29, 2022 to October 28, 2022 (the window period does not reduce their holdings), and reduce their holdings of no more than 45,000 shares, 18,969 shares and 9,485 shares of the company's shares by means of centralized bidding, that is, not more than 0.0024%, 0.001% and 0.0005% of the company's total share capital, respectively.
Overall, the new energy & intelligent sector, which has just improved, reversed again last week, and it is worrying when such a sustained decline will be suspended.
04 Parts: "Glass King" changed hands, and Fuyao Glass's two stocks trended in the opposite direction
In the 12th week of 2022, the 10 individual stocks involved in the 9 parts listed companies fell as a whole, with an average decline of 0.67% in the week, and the cumulative market value shrank by 4.646 billion yuan. Among them, only 3 stocks have increased their stock prices, and the remaining 7 stocks have declined.
Specifically, Dongan Power led the sector with a weekly gain of 2.02%, and as of the close of trading on March 25, the stock was quoted at 7.06 yuan / share, and the weekly market value increased to 3.262 billion yuan.
In addition, the two stocks that rose were Fuyao Glass H shares and FAW Fuwei, which rose by 1.37% and 0.62% respectively in one week.
It is worth mentioning that Cao Dewang is known as the "glass king", and with the disclosure of performance in 2021, the owner of the change gave Li Xianyi, the helm of Xinyi Glass.
On March 17, Fuyao Glass released a performance announcement that the company's 2021 revenue was 23.6 billion yuan, an increase of 18.57% year-on-year; net profit was 3.1 billion yuan, an increase of 20.97% year-on-year; while Xinyi Glass's 2021 revenue was HK$30.4 billion (about 24.7 billion yuan), a sharp increase of 63.6% over 2020; and its net profit reached HK$11.5 billion (about 9.3 billion yuan).
Interestingly, Fuyao Glass A shares and H shares performed the opposite, ranking second in the sector with a weekly decline of 2.27%.
In addition, Huayu Automobile and Linglong Tire ranked first and third in the sector with weekly declines of 2.89% and 2% respectively.
On the news side, Linglong Tire issued an announcement that from March 18, 2022 to March 23, 2022, Linglong Group, the controlling shareholder of Linglong Tire, increased its holdings in the company by 3.4313 million shares through the centralized auction trading system of the Shanghai Stock Exchange, accounting for 0.25% of the company's total share capital, and the cumulative increase amount has exceeded 50% of the lower limit of the planned increase in the amount. The plan to increase holdings has not yet been implemented.
As for the rest of the stocks whose stock prices have fallen, the decline is within 2%.
05 Commercial vehicles: from falling to rising, Hanma Technology led the rise
In the 12th week of 2022, the 13 individual stocks involved in the 12 commercial vehicle sectors as a whole turned from falling to rising, with an average stock price increase of 2.36% in one week and a cumulative increase in market value of 1.449 billion yuan. Among them, 8 stocks achieved growth, and the remaining 5 stocks declined.
Specifically, Hanma Technology, which led the decline in the sector in the previous week, led the sector with a weekly increase of 11.89%, while ranking third in the overall list of gains, as of the close of March 25, it closed at 9.79 yuan / share, and the market value increased to 6.406 billion yuan.
On March 25, Hanma Technology released the 2021 performance announcement, the company achieved operating income of 5.32 billion yuan, a decrease of 17.24% over the same period of the previous year; achieved a net profit loss attributable to the shareholders of the listed company of 1.336 billion yuan, down 172.36% from the same period of the previous year; achieved sales of 13,761 medium and heavy-duty trucks, a decrease of 21.84% from the same period of the previous year; and achieved the installation and sales of 10,708 units of special vehicles, a decrease of 23.63% from the same period of the previous year.
As of December 31, 2021, the company's total assets were 11.540 billion yuan, a decrease of 8.59% from the beginning of the year, and the net assets attributable to the shareholders of the listed company were 1.654 billion yuan, down 30.71% from the beginning of the year.
Ankai Bus and Sinotruk H-shares ranked second and third in the sector with weekly gains of 10.04% and 3.88% respectively, and Ankai Bus also ranked fourth in the overall list; as of March 25, the former reported 5.15 yuan / share, a weekly market value increased to 3.777 billion yuan; the latter reported 12.32 Hong Kong dollars / share, a weekly market value increased to 34.015 billion yuan.
On March 21, Ankai Bus disclosed its 2021 annual report, according to the report, the company achieved operating income of 1.781 billion yuan, down 45.38% year-on-year, net loss attributable to shareholders of listed companies of 264 million yuan, year-on-year from profit to loss, net loss attributable to shareholders of listed companies after deducting non-recurring gains and losses of 313 million yuan, basic earnings per share of -0.36 yuan; in 2021, the company achieved bus sales of 3833 vehicles, down 31.61% year-on-year.
On the same day, the stock rose to a limit.
In terms of declines, Foton Motor led the sector with a weekly decline of 2.29%, and as of the close of trading on March 25, it closed at 2.56 yuan / share, and its market value shrank to 16.832 billion yuan.
On March 25, Foton Motor announced that it had received the Notice of Acceptance of arbitration case No. 0920 (2022) Jingzhong Case Zi sent by the Beijing Arbitration Commission. The main contents are: The Beijing Arbitration Commission received the application and annexes submitted by the Company with MissionExcellence Limited, Golden Ares Limited, Fujian Pingtan Free Trade Zone Juntonghe Investment Partnership (Limited Partnership), Haode Limited, Li Huan, Fujian Pingtan Free Trade Zone Chongde Investment Partnership (Limited Partnership), Lu Zhengyao, Yousheng Chengyi and Wang Peiqiang as the respondents. It was accepted on February 10, 2022.
The amount involved in the case was about 1.481 billion yuan of the remaining equity transfer payment of Beijing Borgward that Changsheng Xingye should pay to the company, as well as interest on deferred payment and liquidated damages for late payment.
Previously, Borgward was exposed to a shutdown.
In addition, China National Heavy Duty Truck A-shares and FAW Jiefang ranked second and third in the sector with weekly declines of 1.77% and 0.73% respectively.
Views of Autoskline：
In the 11th week of 2022, China's auto stocks as a whole finally turned up, but before they could celebrate this rally, in the 12th week, the overall performance of Chinese auto stocks turned down again.
At present, China's auto stocks have begun to announce 2021 financial reports, but in the context of the unstable international situation and repeated domestic epidemics, investors obviously lack confidence in the stock market, and when will auto stocks break through all this haze?