Introduction: The five major sectors in this period are still in a state of decline across the board and have not improved.
【Key Points】
· The new energy & intelligent sector fell the most in one week, reaching 6.44%, and the market value decreased by nearly 200 billion yuan;
· The passenger car sector fell 2.5%, reducing market value by 60 billion yuan;
· Dealers, parts and commercial vehicles fell less than 1%.
In the 15th week of 2022, the epidemic in Jilin achieved zero social clearance, while the epidemic in Shanghai is still in full swing. As an important engine driving China's economy and an important automobile industrial base, Shanghai's "shutdown" has a far-reaching impact on the automotive industry. Including Xiaopeng Automobile founder He Xiaopeng, Huawei Yu Chengdong and other business leaders have made remarks, expressing concern about the largest production base of China's automobiles, as well as the continuous suspension of production and logistics stagnation in important parts distribution centers.
There is even news that if shanghai and its surrounding auto parts cannot be shipped out by May, then China's auto industry may be affected for a year.
Therefore, affected by this, the 81 auto stocks registered in the auto K-line statistics this week continued to weaken, only about a quarter of them turned red, the average stock price fell by 2.74% in a week, and the market value evaporated by 256.048 billion yuan.
In the broader market, the Shanghai Composite Index, the Shenzhen Component Index and the Hang Seng Index collectively closed down, falling by 1.25%, 2.6% and 1.62% respectively, and auto stocks lost the market.
From the perspective of the overall list, there are no stocks that have risen by more than 10% in this period, Yahua Group, Fuyao Glass A shares ranked high with a rise of more than 8%, Yaxing Bus, Guanghui Baoxin and Zhongtong Bus rose by more than 5%, and the remaining 15 rising stocks rose within 5%.
In terms of declines, the top four declines all came from the new energy & intelligent sector, namely Yihuatong (-14.71%), Guoxuan Hi-Tech (-10.97%), NavInfo (-10.83%) and Pilot Intelligence (-10.8%). In addition, the one-week decline of Sinomach Automobile and Enjie shares also exceeded 10%, ranking first.
Below, the automotive candlestick divides the stocks on the record into five major sectors and analyzes them one by one. It is worth noting that from April 15 to April 18, on Good Friday and Easter, Hong Kong stocks were closed for 4 days.
01 Passenger cars: almost "extinguished", multi-share record low
In the 15th week of 2022, the stock prices of 18 listed companies in the (passenger car) vehicle sector fell by an average of 2.5%, and the market value decreased by 60.543 billion yuan; compared with the 14th week, it fell by less than 2%, and the market value decreased by 10 billion yuan, and the trend deteriorated. Among them, only the A shares of GAC Group and BYD rose by 0.68% and 0.59% respectively, and the rest all turned green.
Specifically, after the market hours on April 8, GAC Group announced that the company's directors, supervisors and senior management personnel intend to reduce their holdings due to their personal capital needs. Although the total reduction of 6 people is only 732,400 shares, it may affect the sentiment of the stock market to some extent. On the first trading day after the disclosure of the reduction (April 11), the stock fell by 4.65%, while the intraweek turned red mainly due to the continued small recovery in the following trading days. In addition, it is worth mentioning that on April 14, GAC Group issued a board resolution announcement, one of which was to agree to the implementation of the GAC Passenger Vehicle YX1 project, with a total investment of nearly 300 million yuan, and the source of funds was raised by the enterprise itself. Among the business segments of GAC Group, the independent segments OF GAC Passenger Vehicles and GAC Aean have performed remarkably well, and the implementation of this project will certainly help the Group's independent business to enhance its competitiveness.
BYD shares, another rising stock last week, also fell 7.38% on April 11, but recovered in the following trading days.
BYD has recently held a lot of investor conference calls, but the amount of gold is tacitly agreed, in fact, it is just that. BYD, which has given up the fuel vehicle business and gone light, does not seem to have gained a lot of noise in the capital market. In fact, compared with BYD, it is not a difficult choice to stop production of fuel vehicles, from the sales data, it is more like a helpless move. Looking at the decline in passenger cars, Jianghuai Automobile bottomed out with a decline of 7.81%, and the stock price fell to 8.98 yuan / share in the week.
On the news side, Jianghuai Automobile sales in March were 42,700 units, down 21.64% year-on-year; cumulative sales in the first quarter were 129,400 units, down 11.67% year-on-year. This also leads to Jianghuai Automobile's estimated that in the first quarter of 2022, the net profit attributable to the mother will turn from profit to loss, amounting to about 307 million yuan, while deducting non-net profit will be a loss of about 485 million yuan.
"Will a sharp landing become good"? I don't know, at least before Volkswagen Anhui exerts its strength, Jianghuai Automobile seems to have only expectations. In addition to Jianghuai Automobile, Changan Automobile fell by 5.46% last week, ranking second from the bottom, and the stock refreshed the 52-week minimum of 10.01 yuan / share. As of April 11, changan automobile's actual controller "Bingyi Group" and the concerted actors "China Changan" and "Southern Assets" reduced their holdings by more than half of the time, during which Bingyi Group and China Changan did not reduce their shares, and Southern Assets reduced its holdings by 67.65 million shares, cashing out 860 million yuan.
In March this year, Changan Automobile sold 236,100 units, up 4.3% year-on-year, and sold a total of 651,500 units in the first quarter, up 1.63% year-on-year. Among them, Hefei Changan's sales in March fell by 25.36%, a cumulative year-on-year decline of 28.63%, which is somewhat out of place in the group's sales map.
Last week, Haima Motors, Great Wall Motor H shares, Beiqi Blue Valley and Xiaokang shares fell between 4% and 5%. Recently, Haima Automobile has been busy "expanding its territory" and plans to invest in the establishment of a Sun company "Hainan Haima Auto Parts Co., Ltd." and a subsidiary "Haima Green Energy Development Co., Ltd." in Haikou. Riding on the wings of "hydrogen energy" and the unique policy tilt, can Haima cars take off? Great Wall Motor's H shares refreshed the 52-week minimum of 10.32 yuan / share, while its A shares also refreshed the 52-week minimum of 24.14 yuan / share in the intraday on April 12.
In March, Great Wall Motor sold 100,900 units, down 8.86% year-on-year, and sold a total of 283,500 units in the first quarter, down 16.32% year-on-year. It is worth noting that the sales of its Haval brand and pickup trucks in March fell by 18.83% and 16.12% respectively, and these two sectors are too important for Great Wall Motors.
Beiqi Blue Valley also refreshed a 52-week low of 6.59 yuan per share last week, and the company sold 5,735 vehicles in March. During the same period, Xiaokang sold 24,01 units, of which 7451 were new energy vehicles. These two Huawei concept stocks, in the new energy market, are currently evenly matched, and they still need a qualitative breakthrough. Overall, the passenger car sector collectively "pulled the crotch" last week.
02 Dealers: The profit of China National Machinery Automobile fell by 40%, and the decline was at the bottom
In the 15th week of 2022, the stock price of the auto dealer group segment fell by an average of 0.18%, the market value decreased by 725 million yuan, and more than half of the stocks turned red.
Among them, Guanghui Baoxin rose 5.26%, Zhengtong Automobile rose 3.51%, Zhongsheng Holdings rose 2.85%, ranking in the top three sectors, and the three stocks have not released important news recently. Compared with the passenger car sector or other sectors, dealers are usually "more silent". In terms of declines, Sinomach Automobile fell by more than 10% in a week, ranking at the bottom of the list; Autohome U.S. stocks and H shares fell by 6.66% and 0.76% respectively; while the huge group fell by 2.05%.
On the news side, Sinomach Automobile disclosed its operating performance in 2021, with both revenue and profit declining, of which revenue fell by 0.43% to 43.945 billion yuan, net profit attributable to shareholders of listed companies fell by 40.08% to 256 million yuan, and deduction of non-net profit fell by 76.13% to 109 million yuan.
According to the latest data of the Association of Passenger Vehicles, in March, the retail sales of the passenger car market were 1.579 million units, down 10.5% year-on-year; the cumulative retail sales from January to March were 4.915 million units, down 4.5% year-on-year, and the overall trend was lower than expected.
03 New energy & intelligence: The Ningde era drags down the sector, and the market value loss is nearly 200 billion
In the 15th week of 2022, the overall stock prices of 21 new energy & intelligent related listed companies involved in 22 individual stocks fell by an average of 6.44%, and the cumulative market value of one week evaporated by 198.405 billion yuan. Among them, only 1 individual stock of Yahua Group has risen in stock price, and the remaining 21 stocks have declined in stock prices.
Specifically, Yahua Group thrived, leading the sector and the total list with a weekly increase of 8.35%, as of the close of trading on April 15, the stock was reported at 31.4 yuan / share, and the weekly market value increased by 2.789 billion to 36.19 billion yuan.
On April 17, Yahua Group announced that its wholly-owned subsidiary, Yahua International Investment and Development Co., Ltd. ("Yahua International"),has signed an Equity Subscription Agreement with Canadian Super Lithium Company to invest $5 million to subscribe for 21,276,596 units of Super Lithium at a price of $0.235 per share, accounting for 13.23% of the total share capital of Super Lithium as of the announcement date.
At the same time, Yahua International acquired 60% of the equity of a wholly-owned subsidiary of Super Lithium Company with cash investment, and controlled its Fugan Lake hard rock spodumene lithium project and Georgia Lake hard rock spodumene lithium mine project. On the same day, the two parties signed the Agreement on Sale, Purchase and Joint Venture.
In terms of declines, Yihuatong led the sector and the overall list with a weekly decline of 14.71%, and as of April 15, the stock was reported at 126.7 yuan / share, and the cumulative market value of the week shrank to 9.04 billion yuan.
On April 14, Yihuatong released its 2021 annual performance report, the company achieved operating income of 629 million yuan in the previous year, an increase of 9.97% year-on-year; a net loss attributable to shareholders of listed companies of 162 million yuan, and a net loss of 178 million yuan attributable to shareholders of listed companies after deducting non-recurring gains and losses, a loss that expanded year-on-year.
During the reporting period, the company's net profit attributable to the shareholders of the listed company decreased by 139 million yuan year-on-year, and the net profit attributable to the shareholders of the listed company after deducting non-recurring gains and losses decreased by 138 million yuan year-on-year, mainly due to the company's further increase in the provision for the loss of bad debts in the receivables of Shenlong Bus and Zhongzhi Automobile (Chun'an) to 90%, and at the same time, some inventory price losses; the company further improved the construction of the talent system and continued to increase the introduction of talents, and the labor cost expenditure increased compared with the same period.
Guoxuan Hi-Tech and NavInfo ranked second and third in the sector and the total list with weekly declines of 10.97% and 10.83% respectively; as of April 15, they were quoted at 28.56 yuan / share and 13.01 yuan / share, respectively, the former's weekly market value shrank by 5.86 billion to 47.544 billion yuan, and the latter's weekly market value shrank by 3.752 billion yuan to 30.893 billion yuan.
In addition, the stocks that fell by more than 10% also included Leading Intelligence and Enjie shares, with declines of 10.8% and 10.56% respectively, while stocks with a decline of between 5% and 10% reached 11, and only 5 stocks with a decline of less than 5%.
Since the new energy & intelligent sector is almost fully green, and most stocks have fallen by a large margin, the sector is at the bottom of the five major sectors, whether it is the average stock price decline or the loss of market value.
It is worth mentioning that in the past week, the share price of the sector-weighted ningde era fell by 8.92%, and the market value evaporated as high as 100 billion yuan, falling back to nearly 1 trillion yuan; at the same time, dragging the market value of the sector to evaporate by nearly 200 billion yuan.
04 Parts: Mixed, Fuyao Glass A shares led the rise
In the 15th week of 2022, the 10 individual stocks involved in the 9 parts listed companies rose and fell as a whole, with an average stock price decline of 0.31% in one week, and the cumulative market value increased by 4.449 billion yuan.
Specifically, Fuyao Glass A shares led the sector with a weekly increase of 8.1%, while ranking second in the overall list of gains, as of the close of April 15, the stock was reported at 35.08 yuan / share, a weekly market value increase of 6.864 billion to 91.55 billion yuan. This may be due to the favorable announcement of its first-quarter performance growth.
On the evening of April 14, Fuyao Glass released its first-quarter results showing that the company achieved operating income of 6.548 billion yuan in the first quarter, an increase of 14.75% year-on-year; net profit attributable to shareholders of listed companies was 871 million yuan, an increase of 1.86% year-on-year; net profit after non-recurring gains and losses was 856 million yuan, an increase of 5.24% year-on-year; basic earnings per share was 0.33 yuan per share.
Or thanks to this, the next day, Fuyao Glass A shares rose and stopped, but also laid the foundation for the stock to lead the sector. In addition, Fuyao Glass H shares rose 5.97% on the day, reversing the overall performance of the week and finally achieving a weekly increase of 0.17%.
Dongan Power and Huayu Automobile ranked second and third in the sector with 4.19% and 3.82% increases respectively.
On the evening of April 15, Dongan Power issued a pre-reduction announcement of the first quarter of performance, and it is expected that the net profit attributable to the shareholders of the parent company in the first quarter of 2022 will decrease by 43.91 million yuan to 51.73 million yuan compared with the same period of the previous year, a year-on-year decrease of 65% to 77%. Net profit attributable to shareholders of the parent company in the same period last year was 67.3879 million yuan.
According to the announcement, in the first quarter of 2022, although the company's sales volume and operating income increased slightly, but due to the rise in raw materials, the gross profit margin of the product decreased, and at the same time, the company's research and development expenses increased year-on-year, resulting in a decline in the company's operating profit. In addition, the decline in the company's holding of Zotye Automobile shares confirmed the fair value change profit and loss.
With the disclosure of Dongan Power's pre-reduction announcement, people can't help but worry about its stock price trend in the 16th week.
In terms of declines, Jingforging Technology led the sector with a weekly decline of 7.52%, as of April 15, the stock was reported at 9.35 yuan / share, and the cumulative market value of the week shrank to 4.505 billion yuan.
Sanhua Zhikong and Linglong Tire ranked second and third in the decline of the sector with a decline of 4.95% and 4.71% respectively.
Overall, the parts sector, although mediocre, is relatively good among the five sectors.
05 Commercial vehicles: Yaxing Bus led the rise, Ankai Bus led the decline
In the 15th week, the 13 individual stocks involved in the 12 commercial vehicle sectors as a whole fell mainly, with an average decline of 0.94% in the week, and the cumulative market value shrank by 2.275 billion yuan. Among them, only 5 stocks have achieved stock price growth, and the remaining 8 have declined.
Specifically, Yaxing Bus led the sector with a weekly increase of 6.8%, while ranking third in the overall list of gains, as of the close of April 15, closing at 7.7 yuan / share, the cumulative market value increased to 2.202 billion yuan.
It is worth mentioning that on April 14, Yaxing Bus achieved a limit increase, laying the foundation for the stock to lead the rise in the sector.
In addition, Zhongtong Bus and Jinlong Automobile ranked second and third in the sector with weekly gains of 5.18% and 3.35% respectively.
On the evening of April 14, Zhongtong Bus issued an announcement that it had received a written resignation letter from director Guo Lei, who applied to resign as a director of the company's tenth board of directors due to job changes.
The next day, the stock plunged 7.13 percent, compared to a 9.62 percent gain the day before.
In terms of declines, Ankai Bus led the sector with a weekly decline of 9.32%, and as of the close of trading on April 15, it closed at 4.28 yuan / share, and the cumulative market value of the week shrank to 3.139 billion yuan.
On April 14, Ankai Bus disclosed the first quarter performance forecast, showing that it is expected that the net loss attributable to the shareholders of the listed company in the first quarter will be 30 million to 45 million yuan; the net loss after deducting non-recurring gains and losses will be 40 million to 55 million yuan; and the basic loss per share will be 0.04 yuan / share - 0.06 yuan / share.
According to the announcement, the first quarter of 2022 is the traditional off-season of the bus market, coupled with the impact of the epidemic, the company's product sales and total revenue are low, and the performance is loss-making.
In addition, Hanma Technology and Jiangling Motors ranked second and third in the sector with weekly declines of 6.41% and 3.26% respectively.
Views of Autoskline：
In the 15th week of 2022, China's auto stocks as a whole continued to decline.
Affected by the epidemic, the supply chain of China's automotive industry is under pressure, and at the same time, since mid-March, Many car companies such as Volkswagen, Toyota, Ma Bao, Tesla, and Nio have been forced to stop work and production.
He Xiaopeng, the founder of Xiaopeng Motors, once issued a warning that if the supply chain enterprises in Shanghai and the surrounding areas cannot find a way to dynamically resume work and production, all Chinese automakers may have to stop work and production in May. At present, many cities and regions in China are still facing the epidemic, which not only affects the normal operation of automobile companies, but also affects investors' confidence in the stock market to a certain extent, which is undoubtedly unfavorable for automobile stocks. In the short term, the haze of the epidemic may become the biggest "killer" restricting the performance of the stock market.