Introduction: The bright moonlight in front of the window, suspected to be silver shaking, looking up at the stock market, looking down and panicking. If this continues, the auto stock will really play "120".
【Key Points】
· New energy & intelligent, dealer group sector, the weekly stock price fell by more than 6%;
· Passenger cars and commercial vehicles fell by more than 5%;
· The parts sector fell 3.82%;
The market value of the five major sectors has been reduced across the board, of which the market value of the two sectors of new energy & intelligence and passenger cars has been reduced by nearly 200 billion yuan each.
In the 16th week of 2022, the fundamentals of the capital market did not improve significantly, the number of confirmed cases and asymptomatic infected people in the increasing number of locally confirmed cases remained high, and the "magic capital" was shrouded in the shadow of the epidemic, and scattered epidemics also appeared in many parts of the country. The May Day holiday is approaching, the flow of people is inevitable, and the prevention and control of the epidemic in China may face more severe challenges.
The good news is that this week, the Us company Tesla Shanghai factory "electrified" to resume production, SAIC also pressed the "start button" to resume work and production, injecting momentum into the recovery of China's automotive industry chain. As an important automotive vehicle and parts industry town in the country, the orderly restart of Shanghai will bring confidence to the stability of the automotive industry supply chain, but it will take a long time for the industrial chain to recover to the pre-epidemic level.
This week, of the 81 auto stocks registered in the auto K-line statistics, only 5 stocks have achieved red, and the increase is limited, and the whole look is green; after the stock price fell by 5.61% in a week, the auto stock market value evaporated by 400.67 billion yuan.
In terms of the broader market, the Shanghai Composite Index, the Shenzhen Component Index and the Hang Seng Index continued to close down collectively, falling by 3.87%, 5.12% and 4.09% respectively, meaning that auto stocks once again dragged down the broader market.
From the overall list, last week, only Fuyao Glass H shares, Desay SV, Weifu Hi-Tech, Xiaokang shares and NavInfo new five stocks rose, and the rest of the stocks all declined, and the overall weakness was evident.
In terms of declines, Weilai H shares and ideal automobile U.S. stocks fell by 13.61% and 13.15% at the bottom; in addition, the one-week decline of Yahua Group and Ganfeng Lithium H shares also exceeded 13%; the top ten fell, basically by the three forces of car manufacturing and new energy & intelligent sector stocks.
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 thrive
In the 16th week of 2022, the stock prices of 18 listed companies in the (passenger car) vehicle sector fell by an average of 5.74%, and the market value decreased by 192.74 billion yuan, and the decline in stock prices and the scale of market value reduction continued to expand; of which only One stock of Xiaokang shares turned red.
Specifically, Xiaokang shares can rise by 3.14% against the trend, mainly due to the pull-up stop on April 18.
On April 18, Huawei Yu Chengdong said in an interview that because of the shortage of chips, the sales target of 300,000 vehicles in the world this year has been unable to be achieved. Just after the end of the first quarter, the words that were sworn not long ago suddenly changed, and I really doubted that when it announced its sales target, it was also a hot head.
As the pride of a Chinese brand, Huawei is deeply rooted in the hearts of the people, and its performance in the automotive field is unfavorable, which has also attracted a lot of public pressure. Whether it is the BEIQI Polar Fox or the Xilis Questioning Circle, it has not become a market hit. On April 20, the M5 official announced a price increase, which was less than two months after its delivery.
Weak brand power, and then encounter the lack of core and lack of electricity environment, the new brand foothold and growth belly back to the enemy.
In terms of decline, last wednesday, the new car-making forces jumped in groups, covering the top six declines, with weekly declines of more than 10%, and the total market value loss was nearly 140 billion yuan.
On the news side, on April 21, Ideal Auto was included in the "pre-delisting list" by the US Securities and Exchange Commission (SEC) for the second time, which is also the second time since March 12 that it has been included in the list. It is worth mentioning that entering the list does not mean immediate delisting, and will ultimately depend on the progress and results of Sino-US audit regulatory cooperation.
Recently, the situation of auto Chinese stocks is indeed "more difficult". In the severe social environment, the tide of price increases, the suspension of production, the delay in delivery... They are all mountains straddling the new forces of car-making.
In addition, the pursuit of new forces such as Nezha and Zero Run, and the "chocolate exchange block" in the Ningde era have all formed a lot of pressure on Weilai, which is currently lagging behind in monthly delivery.
In terms of traditional car companies, Haima Automobile fell 9.58%, Jianghuai Automobile fell 6.95%, a larger decline; at the same time, Beiqi Blue Valley refreshed the 52-week low of 6.36 yuan / share, and Great Wall Motor A shares also refreshed the 52-week minimum of 23.8 yuan / share on the same day, resulting in two stocks falling by 5.37% and 5.14% respectively last week; the rest of the stocks fell within 5% a week.
02 Dealers: None of them are spared
In the 16th week of 2022, the stock price of the auto dealer group segment fell by an average of 6.1%, and the market value decreased by 13.87 billion yuan; except for the continued suspension of Rundong Automobile, all 11 stocks fell.
Among them, the biggest decline was Yongda Automobile, which fell by 10.25%, Guanghui Baoxin fell 10%, ranking second from the bottom; followed by Autohome H shares and US stocks, down 9.79% and 8.89% respectively.
It is worth mentioning that after the bottom of the previous week, the smallest decline was only 1.26%, mainly due to the sealing of the rise and stop on April 20; but then there was a sharp decline in the next two trading days.
From a fundamental point of view, the continuous epidemic has brought a greater impact on normal automobile production and sales, consumer confidence is low, and the pressure of the car market to recover is greater. The HKICCA expects retail sales of narrow passenger cars to be around 1.1 million units in April, down 31.9% year-on-year; therefore, dealers will also face a lot of operating pressure in the next period of time.
03 New energy & intelligence: large area of green, Yahua led the decline
In the 16th week of 2022, the 22 individual stocks involved in the 21 new energy & intelligent related listed companies fell as a whole, with an average decline of 6.2% in the stock price in one week, and the cumulative market value of the week evaporated by 180.194 billion yuan. Among them, only 3 stocks have risen in stock prices, and the remaining 19 stocks have declined.
Specifically, Desay SV led the sector with a weekly gain of 3.58%, while ranking second in the overall list of gains, as of the close of trading on April 22, the stock was quoted at 111.12 yuan / share, a weekly market value increase of 2.132 billion to 61.702 billion yuan.
On the evening of April 17, Desay SV announced the first quarter report of 2022, during the reporting period, its operating income was 3.142 billion yuan, an increase of 53.86% year-on-year; the net profit attributable to the shareholders of the listed company was 318 million yuan, an increase of 39.22% year-on-year; and the basic earnings per share was 0.57 yuan, an increase of 35.71% year-on-year.
Or as a result, the next day, Desay SV surged 7.07%, while laying the foundation for a week of positive growth for the stock.
In addition, Weifu Hi-Tech and NavInfo ranked second and third in the sector with weekly gains of 3.19% and 0.15% respectively, and ranked third and fifth in the overall list.
On the news side, Weifu Hi-Tech announced the 2021 annual performance report, achieving operating income of 13.682 billion yuan during the period, an increase of 6.20% year-on-year; net profit attributable to shareholders of listed companies of 2.575 billion yuan, a decrease of 7.12% year-on-year; net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses of 2.54 billion yuan, an increase of 21.75% year-on-year; basic earnings per share of 2.57 yuan, and a cash dividend of 16 yuan (including tax) for every 10 shares of shareholders.
In addition, the Company signed the Wuxi New Heights High-end Industrial Investment Fund Partnership (Limited Partnership) with Wuxi New Heights Private Equity Fund Management Co., Ltd. ("Wuxi New Heights"), Wuxi Yunlin Industrial Development Investment Fund (Limited Partnership) (hereinafter referred to as "Yunlin Fund"), Zhejiang Wanliyang Enterprise Management Co., Ltd. ("Wanliyang"), Dongsheng Xianxian Science and Technology Industry Co., Ltd. ("Dongsheng Xianxing"), and Wright (Hainan) Investment Partnership (Limited Partnership) (hereinafter referred to as "Wright Investment") Partnership Agreement", using its own idle funds of 50 million yuan to subscribe for the partnership share of Wuxi New Heights High-tech Industrial Investment Fund Partnership (Limited Partnership) (hereinafter referred to as "New Heights Fund") and become a limited partner of the partnership.
NavInfo and its subsidiaries received a total of 46.8672 million yuan in VAT refunds and other government subsidies for software products independently developed from December 2021 to February 2022.
In terms of declines, Yahua Group, which led the sector in the previous week, led the sector in the 16th week with a weekly decline of 13.09%, while ranking third in the overall list, as of April 22, the stock was reported at 27.29 yuan / share, and the cumulative market value of the week shrank by 4.737 billion to 31.453 billion yuan.
On April 22, Yahua Group disclosed its 2021 financial report and 2022 first quarter report.
According to the announcement, in 2021, the company achieved operating income of 5.241 billion yuan, an increase of 61.26% year-on-year; a net profit attributable to the shareholders of the listed company of 937 million yuan, an increase of 189.22% year-on-year; a net profit attributable to the shareholders of the listed company of 919 million yuan, an increase of 207.1% year-on-year; basic earnings per share of 0.82 yuan; and a cash dividend of 0.30 yuan (including tax) for every 10 shares to all shareholders.
At the same time, according to the first quarter of 2022, the company achieved operating income of 2.66 billion yuan, an increase of 210.22% year-on-year; net profit attributable to shareholders of listed companies was 1.022 billion yuan, an increase of 1210.02% year-on-year, which has exceeded the net profit for the whole year of 2021; basic earnings per share of 0.8867 yuan.
The favorable results announced by Yahua Group also make people look forward to the stock price performance in the future.
Ganfeng Lithium H-shares and Yiwei Lithium Energy ranked second and third in the sector with weekly declines of 13.03% and 12.76% respectively; as of April 22, they were quoted at HK$89.75/share and 62.2 yuan/share, respectively, the former's weekly market value shrank by HK$19.334 billion to HK$129.014 billion; the latter's weekly market value shrank by 17.279 billion yuan to 118.105 billion yuan.
In addition, stocks with a decline of more than 10% include Ganfeng Lithium A shares and Yihuatong, with a decline of 11.42% and 10.22% respectively, while the number of stocks with a decline between 5% and 10% is 10, and only 4 stocks with a decline of less than 5%.
Due to the large area of greenery in the new energy & intelligent sector, and the large decline in most stocks, the average stock price decline of this sector ranks at the bottom of the five major sectors.
It is worth mentioning that in the past week, the share price of the plate weighted stock Ningde Era fell by 7.88%, the market value evaporated as high as 81.904 billion yuan, and the market value fell out of the trillion mark; at the same time, the market value of the sector evaporated by more than 180 billion yuan.
04 Parts: Fuyao glass H shares thrive
In the 16th week of 2022, the 10 individual stocks involved in the 9 parts listed companies fell as a whole, with an average decline of 3.82% in one week, and the cumulative market value shrank by 7.004 billion yuan.
Specifically, Fuyao Glass H-shares thrived, leading the sector and the overall list with a weekly gain of 5.8%, and as of the close of trading on April 22, the stock was quoted at HK$31 per share, with a cumulative market value increase of HK$4.437 billion to HK$80.902 billion in a week.
In terms of declines, Dongan Power led the sector with a weekly decline of 12.77%, and as of April 22, the stock was reported at 6.08 yuan / share, and the weekly market value shrank to 2.809 billion yuan.
Sanhua Intelligent Holdings and Huayu Automobile ranked second and third in the decline of this sector with a decline of 6.99% and 5.52% respectively.
Overall, the parts sector, although also performing poorly, is the lowest average share price decline among the five sectors.
05 Commercial vehicles: the whole army was destroyed, and China National Heavy Duty Truck A shares led the decline
In the 16th week, 13 individual stocks involved in the 12 commercial vehicle sectors were "completely destroyed", the average stock price fell by 5.39% in one week, and the cumulative market value shrank by 6.862 billion yuan.
Specifically, Sinotruk A-shares led the sector with a weekly decline of 11.51%, and as of the close of trading on April 22, it closed at 10.69 yuan / share, and the cumulative market value of the week shrank to 12.559 billion yuan.
On April 22, Sinotruk disclosed a quarterly report showing that the company achieved operating income of 7.497 billion yuan, down 63.75% year-on-year; realized net profit attributable to shareholders of listed companies of 124 million yuan, down 79.43% year-on-year; realized net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses of 119 million yuan, down 79.61% year-on-year; basic earnings per share of 0.11 yuan, a year-on-year decrease of 79.63%.
In addition, Foton Motor and Yaxing Bus ranked second and third in the sector with weekly declines of 8.63% and 8.18% respectively.
Views of Autoskline：
In the 16th week of 2022, China's auto stocks as a whole continued to decline.
Recently, due to the tense epidemic situation, the contradiction between automobile production and parts supply has further intensified, and the automobile industry has also encountered huge challenges. Affected by this, Weilai, Tesla and other companies were forced to stop work and production. Although Tesla, SAIC And other enterprises have resumed work after the national conference on ensuring the smooth flow of goods and promoting the stability of the industrial chain supply chain, whether the industrial chain supply chain problems can be solved and whether the automobile industry can get rid of the current predicament remains to be verified by the market.
What is worrying is that many cities and regions in China are still facing the epidemic and there is no obvious inflection point, 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 will continue to be the biggest "killer" restricting the performance of the stock market. In addition, the impact of the international situation on the stock market is not optimistic.