Introduction: After the "three boards" led the 12th week list, China National Machinery Automobile suddenly stepped on the "sharp brake", and there was a "parabolic" decline in the 13th week, ranking at the bottom of the overall list. From the perspective of the five major sectors, the passenger car sector is significantly stronger.
【Key Points】
The stock price of the passenger car sector rose by 3.39%, the strongest performance, and the market value thickened by more than 100 billion yuan;
The stock prices of dealer groups and parts sectors rose by 0.71% and 0.95% respectively, and the market value increased slightly;
The stock price of the new energy & intelligent sector fell by 0.86%, and the market value increased by nearly 30 billion yuan;
The commercial vehicle segment was the weakest performer, with a share price decline of 2.51% and a market value loss of 2.7 billion yuan.
In the 13th week of 2022, the battle for epidemic prevention and control in Jilin and Shanghai is still in full swing; the situation in Russia and Ukraine has continued to heat up under the provocation of some Western countries; on April 5, the Qingming Dynasty has come, praying that the world will be clear and warm as ever.
This week, the overall performance of auto stocks has picked up. The stocks of the 81 listed companies registered in the automotive K-line statistics rose by an average of 0.55%, and the market value increased by 154.796 billion yuan. Among them, the stock price rose to 46, the stock price fell 32, Guanghui Baoxin stock price was flat for one week, brilliance China and Rundong Automobile continued to suspend trading.
In the broader market, the Shanghai Composite Index, the Shenzhen Component Index and the Hang Seng Index collectively turned red, up 2.19%, 1.29% and 2.97% respectively. In this way, auto stocks actually outperformed the market last week.
From the overall list, there are only four stocks that have risen by more than 10%, of which Xiaokang shares are at the top of the list with an increase of 13.99%, followed by Autohome US stocks with an increase of 13.67%, while Fuyao Glass H shares and Nio U.S. stocks are up 10.47% and 10.15% respectively.
It is worth mentioning that although there are not a few stocks with rising stock prices, most of them have limited gains, such as as 31 stocks with a rise of less than 5%.
In terms of decline, China National Machinery Automobile, which led the rise in the previous period, became the bottom of the existence, falling by 17.25% in one week; the decline in China National Heavy Duty Truck H shares also exceeded 10% to 13.31%; while Evergrande Automobile, Ankai Bus, Yihuatong, Lixun Precision and Sunwoda fell by more than 5%.
Below, the automotive candlestick divides the stocks on the record into five major sectors and analyzes them one by one.
01 Passenger cars: Xiaokang shares rebounded and led the rise, and Weilai retreated to second
In the 13th week of 2022, the stock prices of 18 listed companies in the (passenger car) vehicle sector rose by an average of 3.39%, and the market value increased by 116.613 billion yuan. Of these, 21 stocks rose and only 2 stocks fell.
Specifically, Xiaokang shares led the sector and the total list with an increase of 13.99%, closing at 45.21 yuan per share as of April 1, and the market value increased to 61.48 billion yuan; mainly due to the 9% and 5% increases on March 28 and April 1, respectively.
On the news side, on March 28, Xiaokang shares disclosed that Dongfeng Motor Group Co., Ltd. and its consistent actors, shareholders holding more than 5% of the company's shares, passively diluted their shareholding ratio by 0.04% due to the conversion of convertible bonds into shares, and reduced their shareholdings by 1.03% in block transactions, and their shareholding ratios changed by more than 1%; after the change, the shareholding ratio of Dongfeng Group shares and its consistent actors dropped to 27.23%.
Last week, Xiaokang also released the 2022 non-public issuance of A-share shares, which intends to raise no more than 7.13 billion yuan, and the net proceeds will be used for the development of electrified models and the technical upgrading of product platforms (4.31 billion), the construction of intelligent factory upgrades and electric drive production lines (610 million), the construction of user center construction projects (210 million) and supplementary working capital (2 billion).
It is hoped that through this series of investments, it can be transformed into its comprehensive competitiveness in the field of new energy vehicles in the near future; after all, from the current point of view, the sales gross profit margin of Xiaokang shares (1.68%, as of September 30, 2021) is far lower than the industry average (10.77%), and there is still a lot of room for improvement.
【Image source: Listed company announcement】
Last week, NIO and Xiaopeng Automobile's U.S. stocks ranked second and third with 10.15% and 7.91%, respectively, closing at $21.93/share and $29.19/share as of April 1, respectively. Both also achieved weekly gains of 4.88% and 3.63% in the Hong Kong stock market, respectively.
Both listed companies recently announced their 2021 operating results and deliveries in the first quarter of 2022.
In 2021, NIO's sales revenue was 33.17 billion yuan, an increase of 118.5% year-on-year; the gross profit margin of automobiles was 20.1%; and the net loss for the whole year was 4.02 billion yuan, narrowing 24.3% from the previous year's loss. Xiaopeng Automobile's automobile sales revenue was 20.04 billion yuan, an increase of 261.3% year-on-year; the gross profit margin of automobiles was 11.5%; and the net loss for the whole year was 4.86 billion yuan, an increase of 78% over the previous year's loss.
Judging from the cumulative delivery volume last year, Xiaopeng Automobile is 98,000 units ahead of Weilai with 91,000 units. In the first quarter of this year, Xiaopeng Automobile delivered a total of 34,561 units, an increase of 159% year-on-year; NIO's quarterly deliveries were 25,768 units, an increase of only 28.5% year-on-year.
On March 28, NIO ET7 began to be delivered to users, and in late May, NIO will release the 2022 ES8, ES6 and EC6, as well as the new model ES7.
In recent months, Weilai's delivery volume has been squeezed out of the first camp, the new car-making force "Big Brother" is somewhat unable to raise its head, the entry of the above models into the market, can it lead Weilai to find face?
Another listed new car-making force, Ideal Auto, performed mediocrely last week, with U.S. stocks up 3.18 percent and H-shares up 0.1 percent. It disclosed last year's results as early as the end of February, and delivered a total of 31,716 ideal ONE units in the first quarter of this year, an increase of 152.1% year-on-year, which is less than The quarterly delivery volume of Xiaopeng Motors.
In terms of decline, Evergrande Automobile bottomed out due to a 9.09% decline, closing at HK$3.2 per share as of March 31. The stock only opened on March 30 and 31 last week, resulting in a sharp drop of 10.8% on the 30th, a recovery of 1.91% on the 31st; trading was suspended again from April 1.
Evergrande Automobile, which aims to achieve mass production of Hengchi 5 on June 22 this year, why is it suspended at every turn, and what tricks are you holding back?
Another green stock in the sector is Jianghuai Automobile, which fell 4% in a week and closed at 10.81 yuan per share as of April 1. On the news side, Jianghuai Automobile disclosed on March 25 and April 1 that it received government subsidies of 20.083 million yuan and 55.387 million yuan respectively.
The net profit attributable to the mother of this veteran car company in 2021 is about 200 million yuan, a sharp increase of 40% year-on-year, but the deduction of non-net profit is not so good, and the amount of government subsidies and the income from the disposal of non-current assets have become the "fig leaf" of profits.
No matter what 2021 looks like, it's already in the past tense, so let's look forward to 2022. The passenger car sector is not too strong to pick up, but it can also bring people confidence.
02 Dealers: Autohome double shares led the rise, and Guoji Automobile fell sharply
In the 13th week of 2022, the stock price of the auto dealer group segment rose slightly by 0.71%, and the market value increased by 3.889 billion yuan. Seven of those stocks rose and only 3 fell.
Specifically, Autohome U.S. stocks and H shares led the sector with up 13.67% and 5.07% respectively, with a total increase in market value of 4.5 billion yuan, but the listed company has not released important news recently.
Last week, Guanghui Automobile rose 3.03%, in addition to zhengtong automobile, Yongda automobile, huge group and Zhongsheng Holdings weekly gains, all within 2%.
On the news side, Guanghui Baoxin, a subsidiary of Guanghui Automobile, will have revenue of 37.58 billion yuan in 2021, an increase of 6.97% year-on-year; the net profit attributable to shareholders of listed companies was 550 million yuan, a year-on-year increase of 161.09%. Zhengtong Automobile's revenue in 2021 was 20.98 billion yuan, and the annual loss was 3.78 billion yuan, and the loss narrowed by about 56%.
In terms of decline, only China National Machinery Automobile, Meidong Automobile and Harmony Automobile turned green.
Its Chinese machine car is very "dramatic", leading the rise with an increase of 28.43% in the previous period, and the bottom of the current period with a decline of 17.25%. After the stock rose 8% on March 28, it fell to a halt on the 29th, fell down 9.92% on the 30th, and closed at 8.3 yuan / share as of April 1.
For the abnormal fluctuations in stock trading, It is puzzling that there are no major matters that should be covered but have not been disclosed.
In addition, Meidong Automobile's annual results show that revenue in 2021 increased by 16.7% year-on-year to 23.58 billion yuan, and profit for the year increased by 57.4% year-on-year to 1.21 billion yuan. According to the data of China Automobile Dealers Association, in the list of the top 100 dealers in the past years, Meidong Automobile has shown an upward trend for many years, and has risen to 23rd place in 2020. This may be due to its single-city, single-store luxury brand strategy.
According to the latest data, in March 2022, the inventory warning index of Chinese auto dealers was 63.6%, up 8.1 percentage points year-on-year and 7.5 percentage points from the previous month, and the inventory warning index was above the boom-bust line. The China Automobile Dealers Association expects full-caliber passenger car terminal sales of about 1.6 million units in March, down 10% year-on-year.
03 New energy & intelligence: Ningde era pulled the plate, the market value rose by nearly 30 billion
In the 13th week of 2022, the 22 individual stocks involved in the 21 new energy & intelligent related listed companies rose and fell, with an average stock price decline of 0.86% in one week, but the cumulative market value of the week increased by 29.666 billion yuan.
Specifically, Shanshan led the sector with a weekly increase of 5.49%, as of the close of trading on April 1, the stock was quoted at 28.03 yuan / share, a weekly market value increase of 3.129 billion to 60.066 billion yuan.
On March 28, Shanshan Co., Ltd. disclosed the pre-increase announcement of the first quarter of 2022, and it is expected that the net profit attributable to the shareholders of the listed company in the first quarter will be 750 million to 850 million yuan, an increase of 148%-181% year-on-year; the net profit attributable to the shareholders of the listed company after deducting non-recurring gains and losses is expected to be 560 million yuan to 600 million yuan, an increase of 99% to 113% year-on-year.
According to the announcement, the pre-increase in performance in the current period mainly benefited from the continuous improvement of the prosperity of the new energy automobile industry, the downstream market demand of the anode material business continued to be strong, the company's products were in short supply, the production and sales volume and operating performance of the anode material increased year-on-year; the company's polarizer business included in the scope of the merger was stable and brought higher performance contribution; the company sold 100% of the equity of Hunan Yongshan Lithium Co., Ltd. during the period to obtain corresponding investment income.
In addition, Enjie shares and Ewell Lithium Energy ranked second and third in the sector with weekly gains of 5.16% and 3.85% respectively; as of the close of trading on April 1, the former was quoted at 224.1 yuan / share, with a cumulative market value increase of 9.807 billion yuan to 199.988 billion yuan in one week; the latter was quoted at 81.48 yuan / share, with a cumulative increase of 5.734 billion yuan to 154.713 billion yuan in a week.
On March 29, Enjie Co., Ltd. announced that it intends to set up a company in Hongta District of Yuxi City as the main body of project implementation, and invest in the construction of a lithium battery isolation film production project with a production capacity of 1.6 billion square meters, with a total investment of about 4.5 billion yuan. The project is built in two phases, with a planned investment of about 2.4 billion yuan in the first phase and a planned investment of about 2.1 billion yuan in the second phase.
On March 30, Enjie issued an announcement showing that it received a subsidy of 16.693 million yuan from the Finance Bureau of Jinwan District of Zhuhai City.
On March 29, Ewell Lithium Energy announced that the company signed a "letter of intent" with the "seller" of the government of Debrecen (Debrecen) in Hungary (the "letter of intent"), and that the company or its subsidiary entities (later designated) intend to purchase the target real estate from the seller and establish a power battery manufacturing plant in Hungary in accordance with the terms and conditions set out in the letter of intent.
In terms of declines, Yihuatong led the sector with a weekly decline of 7.18%, and as of April 1, the stock was reported at 151.8 yuan / share, and the cumulative market value of the week shrank to 10.831 billion yuan.
Luxshare Precision and Sunwoda ranked second and third in the sector with weekly declines of 6.82% and 5.89%, respectively. The remaining shares whose share prices fell fell within 5%.
Overall, the performance of the new energy & intelligent sector was flat, although the average stock price declined, but thanks to the Ningde era, the market value of the sector achieved an increase of nearly 30 billion yuan.
04 Parts: Fuyao Glass Hong Kong stocks led the rise, and the overall turned from falling to rising
In the 13th week of 2022, the 10 individual stocks involved in the 9 parts listed companies turned from falling to rising, with an average stock price growth of 0.95% in one week and a cumulative increase in market value of 7.35 billion yuan. Among them, 6 stocks increased in stock prices, and the remaining 4 stocks declined.
Specifically, Fuyao Glass H shares led the sector with a weekly increase of 10.47%, while ranking third in the overall list of gains, as of the close of April 1, the stock was reported at 32.7 yuan / share, a weekly market value increased by 8.091 billion to 85.339 billion yuan.
Wanxiang Qianchao and Sanhua Zhikong ranked second and third in the sector with weekly gains of 3.99% and 1.8%, respectively.
On the news side, on March 28, Wanxiang Qianchao issued an announcement that Wanxiang Group agreed to transfer its 320 million shares of Wanxiang 123 to the company at a price of 1 yuan, and the company was willing to accept the subscription of such shares and fulfill the obligation of 4 billion yuan of paid-in capital contribution at a price of 1.2.5 yuan per share. The total price of the investment is RMB 4 billion, and after the completion of the investment, the company holds 10.91% of the equity of Wanxiang 123.
On March 29, Wanxiang Qianchao disclosed its 2021 annual report, the company achieved operating income of 14.322 billion yuan in 2021, an increase of 31.62% year-on-year; net profit attributable to shareholders of listed companies of 686 million yuan, an increase of 57.41% year-on-year; net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses of 545 million yuan, an increase of 57.28% year-on-year; basic earnings per share of 0.21 yuan per share. It is proposed to pay a cash dividend of 1.8 yuan (including tax) for every 10 shares.
In terms of declines, Jingforging Technology led the sector with a weekly decline of 4.37%, as of April 1, the stock was quoted at 10.5 yuan / share, and the cumulative market value of the week shrank to 5.059 billion yuan.
Linglong Tire and Huayu Automobile ranked second and third in the sector with weekly declines of 2.79% and 1.73% respectively.
On the news side, on April 1, Linglong Tire and Clintair Environmental Protection Technology Co., Ltd. signed a comprehensive strategic cooperation agreement, the two sides will rely on Clintell's technology in the field of waste tire cracking and recycling environmental protection carbon black, as well as Linglong Tire's technology in the field of high-end tire manufacturing, to carry out technological innovation, product application and project expansion around the whole life cycle of tire recycling.
05 Commercial vehicles: from rising to falling, China National Heavy Duty Truck Hong Kong stocks led the decline
In the 13th week of 2022, the 13 individual stocks involved in the 12 commercial vehicle sectors as a whole turned from up to down, with an average decline of 2.51% in one week, and the cumulative market value shrank by 2.722 billion yuan. Among them, only 2 stocks achieved growth, and the remaining 11 stocks all declined.
Specifically, FAW Jiefang led the sector with a weekly gain of 5.98%, and as of the close of trading on April 1, it closed at 8.69 yuan per share, and its market value increased to 40.444 billion yuan.
On March 30, FAW Jiefang disclosed that its 2021 annual report showed that the company achieved operating income of 98.751 billion yuan, down 13.13% year-on-year; net profit attributable to shareholders of listed companies of 3.9 billion yuan, an increase of 45.97% year-on-year; net profit attributable to shareholders of listed companies, net of non-recurring gains and losses, of 3.581 billion yuan, an increase of 121.51% year-on-year; basic earnings per share of 0.8412 yuan. It is proposed to distribute a cash dividend of 6.50 yuan (including tax) to all shareholders for every 10 shares.
Foton Motor ranked second in the sector with a weekly gain of 3.13%, as of April 1, it was reported at 2.64 yuan / share, and the cumulative market value of the week increased to 17.359 billion yuan.
On the news side, Foton Motor disclosed the preliminary plan for the non-public issuance of A-share shares in 2022, and the object of the non-public offering was Beijing Automobile Group Co., Ltd. ("BAIC Group"), the controlling shareholder of the company. The Subject of the Offering will subscribe for all the shares in the Non-Public Offering in cash and has signed a conditional and effective non-public A-share subscription agreement with the Company.
According to the announcement, the issue price is 2.1 yuan / share, and the number of shares issued is 1.429 billion shares, accounting for 21.73% of the total share capital of the company before the issuance, not more than 30%. The total amount of funds raised in this non-public offering of shares is about 3 billion yuan, and after deducting the relevant issuance expenses, all the funds raised will be used to supplement working capital and repay debts.
In terms of declines, Sinotruk H-shares led the sector with a weekly decline of 13.31%, while ranking second in the overall list of declines, as of the close of trading on April 1, closing at HK$10.68 per share, the market value shrank to HK$29.487 billion.
On the news side, Sinotruk announced its 2021 annual report showing that the company achieved operating income of 56.099 billion yuan, down 6.4% year-on-year; net profit attributable to shareholders of listed companies of 1.038 billion yuan, down 44.79% year-on-year; basic earnings per share of 0.9 yuan; and distributed a cash dividend of 3 yuan (including tax) to all shareholders for every 10 shares.
In addition, Ankai Bus and Hanma Technology ranked second and third in the sector with weekly declines of 8.35% and 4.39% respectively.
Views of Autoskline：
Recently, auto stocks have successively announced financial reports, or thanks to this, in the 13th week of 2022, China's auto stocks as a whole have turned up again, but whether this rally can be sustained is still unknown.
At present, the international situation is still unstable, and the domestic epidemic is still repeated, which not only affects investors' confidence in the stock market to a certain extent, but also covers a thick haze for auto stocks.