Introduction: In the week that Ends in April, there is finally a hint of warmth in auto stocks.
【Key Points】
· Passenger cars, dealers, new energy & intelligent plates turned red, with a weekly increase of 0.48%, 0.75% and 0.89% respectively, and the market value also achieved a certain growth;
· The share price of the parts sector fell by an average of 1.78%, but the market value increased by about 12 billion yuan;
· The commercial vehicle segment performed the worst, with stock prices falling by an average of 5.66% and reducing market capitalization by about 5 billion yuan.
In the 17th week of 2022, the 81 auto stocks registered in the automotive K-line statistics picked up compared with the previous week, the stock price fell by an average of 0.68%, and the market value increased by 134.635 billion yuan; of which 38 stocks rose, but not more than half.
In the broader market, the Shanghai Composite Index and the Shenzhen Component Index continued to close down, falling by 1.29% and 0.27% respectively; the Hang Seng Index successfully closed up 2.18%.
From the overall list, last week, Tianqi Lithium led the rise with an increase of 14.93%, followed by the parts company Sanhua Zhikong with a 14.56% increase, while the one-week increase of Autohome U.S. stocks and Enjie shares, more than 10%, entered the top four of the total list.
In terms of declines, Yaxing Bus fell the most, at 14.14%; China National Machinery Automobile ranked second from the bottom with a decline of 12.61%; in addition, the weekly decline of Zhongtong Bus, *ST Zotye and Linglong Tire was more than 10%.
Below, the automotive candlestick divides the stocks on the record into five major sectors and analyzes them one by one.
01 Passenger cars: Xiaopeng led the rise with a slight advantage, and many shares brushed out new lows
In the 17th week of 2022, the stock prices of 18 listed companies in the (passenger car) vehicle sector rose by an average of 0.48%, and the market value increased by 71.047 billion yuan, of which the number of red stocks increased significantly.
Specifically, the top three gains in this sector are all H shares, which are Xiaopeng Automobile up 7.46%, Geely Automobile 7.24%, and Ideal Automobile 6.26%.
On the news side, Xiaopeng Automobile recently obtained a comprehensive credit line of 7.5 billion yuan from the Agricultural Bank of China to support business operation and development; in addition, in the delivery data disclosed on May 1, Xiaopeng Automobile delivered 9,002 vehicles in April and 43,563 vehicles in January-April.
Affected by the epidemic, the supply chain of the automotive industry is facing a severe test, the sales performance of vehicle manufacturers in April generally declined, and Xiaopeng Automobile failed to maintain the monthly delivery of more than 10,000 vehicles, which is reasonable.
In contrast, NIO delivered 5,074 vehicles in April and 30,842 vehicles in January-April; Ideal Car delivered 4,167 units in April and 35,883 vehicles in January-April. Among the three new car-making forces, only Xiaopeng Automobile achieved year-on-year delivery in April, and at the same time, from the perspective of cumulative delivery, it is also slightly better.
In addition, it is worth mentioning that the zero-run car delivered 9087 vehicles in April, and the cumulative delivery of 30666 vehicles in January-April, with eye-catching results, while Nezha Automobile also delivered 8813 vehicles in April and 38965 vehicles in January-April, which performed well.
These three new car-making forces listed in two places are afraid that the pressure is not small in the face of the latecomers who are chasing after them.
Looking at Geely Automobile, after falling 6.9% on April 25, it has risen consecutively in the following trading days, and as of the close of trading on April 29, the stock was quoted at HK$12.44 per share.
As a high-end new energy brand under Geely, Extreme Kr delivered 2,137 vehicles in April and 10,378 vehicles from January to April, and as of April 30, Extreme Krypton has delivered a total of 16,385 vehicles.
In addition, under the impetus of daimler and Geely's two shareholders, the Smart brand, which has been suspended for 2 years, recently launched the first electric vehicle genie #1 after rebirth, and the pre-sale range after subsidies is 190,000-230,000 yuan, which is undoubtedly a new starting point in the history of the brand's development. It is reported that within 24 hours after the opening of the pre-sale, the order volume of Smart Genie #1 exceeded 10,000 units, and delivery is expected to begin in the fourth quarter of this year.
The pure electric market has recently been extremely hot, Honda, Toyota has launched their first pure electric SUV in the Chinese market, and Great Wall Motors and BMW joint venture beam car, may also release a domestic MINI pure electric SUV this year.
Speaking of Geely Automobile, in addition to the product layout of the pure electricity market, its hybrid products will also begin to compete for market share under the blessing of Raytheon.com. In any case, the market value of more than HK$120 billion is indeed a bit thin for Geely Automobile, which is so rich in technology and products.
In terms of decline, *ST Zotye bottomed out with a decline of 11.81%, and on April 29, it refreshed the 52-week low of 3.07 yuan / share, and closed at 3.21 yuan / share.
On the news side, it is mainly Zotye Automobile that discloses the results of 2021 and the first quarter of this year. Specifically, in 2021, Zotye Automobile achieved operating income of 825 million yuan, a year-on-year decrease of 38.34%; net profit attributable to shareholders of listed companies was -700 million yuan, a year-on-year loss reduction of 93.18%; deduction of non-net profit of -2.109 billion yuan, a year-on-year reduction of 79.32%.
After the release of this performance, the inquiry letter of the Shenzhen Stock Exchange followed.
In the first quarter of this year, Zotye Automobile's revenue was 125 million yuan, a year-on-year decrease of 39.12%; the net profit attributable to shareholders of listed companies was -157 million yuan, a year-on-year loss reduction of 38.49%; and the deduction of non-net profit was -159 million yuan, a year-on-year loss of 37.68%.
After a year, Zotye Automobile finally successfully completed the reorganization, and its subordinate automobile production bases are still in a state of suspension, so the total sales revenue is low and the operating performance is a loss.
It is worth noting that as of December 31, 2021, Zotye Automobile's audited unmade loss was 20.189 billion yuan, the paid-up share capital was 5.069 billion shares, and the company's unmade up loss amount exceeded one-third of the total paid-in share capital.
At present, Zotye Automobile has submitted a request to the Shenzhen Stock Exchange to withdraw the company's stock trading, implement delisting risk warnings and some other risk warnings, and it is unknown whether it can be approved; but because it still has a situation where "the company's production and operation activities have been seriously affected and it is expected that it will not return to normal within three months", it may only be able to "pick the star".
Last week, Haima Automobile ranked second to last with an 8% decline, and the stock fell to a halt on the 25th, picked up on the 27th and 29th, or related to its disclosure of operating results in 2021 and the first quarter of 2022.
In 2021, Haima Automobile's operating income reached 1.762 billion yuan, an increase of 28.18% year-on-year; the net profit attributable to the shareholders of the listed company was 112 million yuan, up 108.36% year-on-year, and the deduction of non-net profit was a loss of 433 million yuan, a year-on-year decrease of 70.36%.
In the first quarter of this year, Haima Automobile's operating income was 710 million yuan, an increase of 119.95% year-on-year; the net profit attributable to the shareholders of the listed company was -60.925 million yuan, and the non-net profit was -34.347 million yuan, which was narrower than the same period last year.
In the context of favorable industrial policies, can Haima Automobile, which bets on hydrogen energy, achieve a counterattack?
Another traditional car company, Jianghuai Automobile, fell 7.35% last week to close at 7.94 yuan per share. The stock fell to a halt on April 25, continued to fall by 6.87% on the 26th, and refreshed the 52-week minimum of 7.02 yuan / share on the 27th, which is indeed more "miserable".
Jianghuai Automobile also disclosed its annual report and the latest quarterly report. According to the data, in 2021, jianghuai automobile revenue was 40.214 billion yuan, a year-on-year decrease of 6.11%; net profit attributable to shareholders of listed companies was about 200 million yuan, an increase of 40.24% year-on-year; while non-net profit was -1.883 billion yuan, and the loss continued to expand.
The situation in the first quarter of this year is also not optimistic, with revenue of 9.76 billion yuan, a decrease of 16.43% year-on-year; net profit attributable to shareholders of listed companies was -290 million yuan.
In addition to the above-mentioned individual stocks, Xiaokang shares brushed a new low of 32.7 yuan per share for 52 weeks on April 27, a one-week decline of 6.09%. Coincidentally, Beiqi Blue Valley refreshed 5.4 yuan / share on the same day, and SAIC Motor refreshed 14.63 yuan / share.
02 Dealers: Autohome double shares led the rise
In the 17th week of 2022, the share price of the auto dealer group segment rose by an average of 0.75%, and the market value increased by 2.824 billion yuan; 7 of which the stocks turned red, outperforming the previous week.
Specifically, Autohome U.S. stocks and H shares ranked first with up 12.15% and 7.74% respectively, and the total market value increased by 4.06 billion yuan.
Recently, Autohome has not released important news. However, Citi, based on optimistic expectations for its first-quarter results, upgraded the US stock rating of Autohome from "neutral" to "buy", and the target price remained unchanged at $30.
Last week, Guanghui Baoxin ranked third in the sector with a rise of 5.56%, and as of April 29, the closing price was 0.57 Hong Kong dollars per share, and the stock price came out of the "V" shape. The rest of the stocks that rose rose, all of which rose within 3%.
In terms of decline, China National Machinery Automobile bottomed out with a decline of 12.61%. The stock fell to a halt on the 25th, fell sharply by 9.76% on the 26th, and finally closed at 6.17 yuan / share. Recently, China National Machinery Automobile has hovered at the top and end of the list several times, which is elusive.
In the first quarter of this year, Sinomach Automobile achieved operating income of 8.83 billion yuan, a year-on-year decrease of 27.01%; net profit attributable to shareholders of listed companies was 7.051 million yuan, a decrease of 64.95% year-on-year; and deduction of non-net profit was 120 million yuan, an increase of 20.42% year-on-year.
In addition, huge group, Zhengtong Automobile and Guanghui Automobile fell by 4.44%, 3.51% and 1.78% respectively last week. Among them, the huge group brushed a new low of 1.2 yuan / share for 52 weeks on the 27th, and Guanghui Automobile also refreshed the low of 2 yuan / share.
On the news side, the net profit attributable to the shareholders of the listed company in 2021 of the huge group was 898 million yuan, an increase of 54.77% year-on-year, and the non-net profit was -389 million yuan, down 308.48% year-on-year from profit to loss; and in the first quarter of this year, the net profit attributable to the shareholders of the listed company was -91.226 million yuan, a year-on-year decrease of 119.7%; the deduction of non-net profit was -77.989 million yuan.
It seems that deducting non-regularization is not a small test for the huge group.
In contrast, the performance of Guanghui Automobile is relatively good, with a net profit attributable to shareholders of listed companies reaching 1.608 billion yuan in 2021, deducting non-net profit of 1.357 billion yuan; in the first quarter of this year, its two profit indicators were 667 million yuan and 632 million yuan, respectively.
According to the latest data of the China Automobile Dealers Association, the inventory warning index of automobile dealers in April was 66.4%, up 10 percentage points year-on-year and 2.8 percentage points month-on-month, located above the boom-bust line, and the automobile circulation industry was in a sluggish range.
The association expects the market to perform slightly better in May than in April, but not as well as in the same period last year.
03 New energy & intelligence: Tianqi Lithium Industry Yan pressure Qunfang
In the 17th week of 2022, the 22 individual stocks involved in the 21 new energy & intelligent related listed companies were mainly down, with an average stock price growth of 0.89% in one week and a cumulative increase of 53.757 billion yuan in market value in one week. Among them, only 10 stocks have risen in stock prices, and the remaining 12 stocks have declined.
Specifically, Tianqi Lithium led the sector and the total list with a weekly increase of 14.93%, as of the close of trading on April 29, the stock was reported at 76.43 yuan / share, and the weekly market value increased by 14.668 billion to 112.895 billion yuan.
The reason why Tianqi Lithium was able to lead the overall list and this sector was mainly due to the two rises and stops on the 27th and 29th, and Tianqi Lithium achieved a net inflow of 844 million yuan and 1.041 billion yuan in these two days, respectively.
It is worth mentioning that Tianqi Lithium released its 2021 annual report and a quarterly report on April 29, which may have a positive impact on the stock price trend in the 18th week.
In 2021, Tianqi Lithium achieved operating income of 7.663 billion yuan, an increase of 136.56% year-on-year; net profit attributable to shareholders of listed companies was 2.079 billion yuan, compared with a loss of 1.834 billion yuan in the same period of the previous year; net profit attributable to shareholders of listed companies before non-recurring gains and losses was 1.334 billion yuan, compared with a loss of 1.294 billion yuan in the same period of the previous year; and basic earnings per share was 1.41 yuan.
In the first quarter of this year, Tianqi Lithium achieved operating income of 5.257 billion yuan, an increase of 481.41% year-on-year; while its net profit attributable to shareholders of listed companies was higher than last year, at 3.328 billion yuan, compared with a loss of 248 million yuan in the same period last year; and realized a net profit attributable to shareholders of listed companies, net of non-recurring gains and losses, of 2.834 billion yuan, compared with a loss of 159 million yuan in the same period last year; and basic earnings per share of 2.25 yuan.
In addition, Enjie shares and Ganfeng Lithium A shares ranked second and third in the sector with weekly gains of 11.08% and 9.12% respectively, and ranked fourth and fifth in the overall list.
Among them, Enjie shares achieved a net inflow of 240 million yuan on February 27, and the stock achieved a limit on the same day.
On May 4, Enjie announced that its subsidiary, SEMCORP Hungary Korl átolt Felelel sség Társaság ("SEMCORP Hungary Kft"),Company SE ("ACC") and The French Automotive Cells Company SE ("ACC") have signed a Purchasing Agreement ("Contract") based on their willingness to cooperate between the two parties. It was agreed that SEMCORP Hungary Kft would supply approximately €655 million in lithium battery isolation membrane products to ACC from 2024 to 2030, with the contract effective from the date of signing by the parties.
Ganfeng Lithium released a quarterly report on the evening of April 26, with operating income of 5.365 billion yuan during the period, an increase of 233.91% year-on-year; net profit attributable to the mother of 3.525 billion yuan, an increase of 640.41% year-on-year. With this blessing, the stock rose and fell the next day.
In terms of declines, BDStar led the sector with a weekly decline of 7.8%, as of April 29, the stock was reported at 27.67 yuan / share, and the weekly market value shrank to 14.173 billion yuan.
On April 25, BDStar issued a first-quarter performance announcement saying that it achieved operating income of about 760 million yuan during the period, a year-on-year decrease of 16.76%; net profit attributable to shareholders of listed companies was about 45.83 million yuan, an increase of 9.45% year-on-year; basic earnings per share was 0.09 yuan, an increase of 12.5% year-on-year.
Joyson Electronics and Yihuatong ranked second and third in the sector with weekly declines of 7.22% and 6.22% respectively.
On April 25, Joyson Electronics announced its 2021 annual report and 2022 first quarter report. Or affected by this, Joyson Electronics fell to a stop on the day.
Last year, Joyson Electronics achieved operating income of 45.67 billion yuan, down 4.64% year-on-year; net profit attributable to shareholders of listed companies was a loss of 3.753 billion yuan, a year-on-year profit and loss; net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 3.787 billion yuan; basic earnings per share was -2.74 yuan.
In the first quarter of this year, Joyson Electronics achieved operating income of 11.73 billion yuan, down 4.53% year-on-year; net profit attributable to shareholders of listed companies was a loss of 158 million yuan, down 171.32% year-on-year; basic earnings per share was -2.74 yuan.
On April 28, Yihuatong announced the first quarter of this year, the company achieved operating income of 97.0593 million yuan, an increase of 855.75% year-on-year, a net loss of 23.4748 million yuan, a loss of 50.7% year-on-year, and basic earnings per share of -0.33 yuan.
Overall, although the new energy & intelligent sector has more stocks that have declined than have risen, the average stock price and market value of the sector have achieved positive growth driven by Tianqi Lithium and Enjie shares.
04 Parts: Sanhua Intelligent Control led the rise
In the 17th week of 2022, the 10 individual stocks involved in the 9 parts listed companies fell as a whole, and the average stock price fell by 1.78% in one week, but the cumulative market value increased by 11.955 billion yuan.
This is mainly due to the fact that Sanhua Zhikong's stock price rose by 14.56% in one week to lead the sector, and ranked second in the overall list, with a cumulative increase in market value of 7.649 billion yuan to 60.187 billion yuan in a week.
After hours on April 25, Sanhua Zhikong released a quarterly report, during which it achieved operating income of 4.804 billion yuan, an increase of 40.94% year-on-year; net profit attributable to shareholders of listed companies was 453 million yuan, an increase of 25.81% year-on-year; basic earnings per share was 0.13 yuan, an increase of 30% year-on-year.
Or affected by this, the next day the stock rose and fell.
Fuyao Glass H/A shares ranked second and third in the sector with weekly gains of 5.16% and 4.99%, respectively.
In terms of declines, Linglong Tire led the sector with a weekly decline of 10.25%, as of April 29, the stock was quoted at 17.77 yuan / share, and the weekly market value shrank to 26.375 billion yuan.
On April 28, Linglong Tire released its 2021 annual report, during the reporting period, the company achieved operating income of 18.579 billion yuan, an increase of 1.07% year-on-year; net profit attributable to shareholders of listed companies was 789 million yuan, a decrease of 64.48% over last year; the company intends to distribute a cash dividend of 1.6 yuan (including tax) to all shareholders for every 10 shares.
Ningbo Huaxiang and Jingforging Technology ranked second and third in the decline of this sector with a decline of 9.95% and 9% respectively.
On the evening of April 28, Ningbo Huaxiang disclosed the 2021 financial report and the first quarter of this year.
The report shows that the company achieved operating income of 17.588 billion yuan last year, an increase of 4.12% year-on-year; achieved a net profit attributable to shareholders of listed companies of 1.265 billion yuan, an increase of 48.87% year-on-year. In addition, the Company intends to distribute a cash dividend of RMB1.23 (including tax) to all shareholders for every 10 shares.
In the first quarter of this year, the operating income was 4.196 billion yuan, a year-on-year decrease of 3.2%; the net profit attributable to the shareholders of the listed company was 197 million yuan, a decrease of 17.6% year-on-year; and the basic earnings per share were 0.27 yuan, a year-on-year decrease of 28.95%.
On April 27, Fine Forging Technology also announced its 2021 financial report and this year's first quarter report.
According to the financial report, the operating income in 2021 was about 1.423 billion yuan, an increase of 18.3% year-on-year; the net profit attributable to the shareholders of the listed company was about 172 million yuan, an increase of 10.26% year-on-year; and the basic earnings per share were 0.3636 yuan, a year-on-year decrease of 5.07%. It is proposed to pay a cash dividend of 1 yuan (including tax) for every 10 shares, no bonus shares, and no increase.
In the first quarter of this year, the operating income was about 404 million yuan, an increase of 23.91% year-on-year; the net profit attributable to the shareholders of the listed company was about 42.29 million yuan, a decrease of 19.54% year-on-year; and the basic earnings per share were 0.0895 yuan, a year-on-year decrease of 19.51%.
Overall, although the parts sector performed poorly, its market value achieved positive growth in one week.
05 Commercial vehicles: mainly falling, Yaxing Bus led the decline in the overall list
The 13 individual stocks involved in the 12 commercial vehicle sectors fell mainly in the 17th week, with an average decline of 5.66% in the week, and the cumulative market value shrank by 4.949 billion yuan.
Specifically, only the stock prices of Wuling Motors and China National Heavy Duty Truck H Shares achieved growth, with increases of 2.94% and 2.78% respectively.
On April 25, Wuling Automobile announced its 2021 performance report, with operating income of 14.409 billion yuan during the period, a year-on-year decrease of 6.3%; net profit attributable to the mother of 24.148 million yuan, a loss narrower than 27.7% in 2020.
In terms of decline, Yaxing Bus led the sector and the total list with a weekly decline of 14.14%, and as of the close of trading on April 29, it closed at 6.07 yuan / share, and the cumulative market value of the week shrank to 1.736 billion yuan.
On April 27, Yaxing Bus disclosed its 2021 financial report, with operating income of 979 million yuan during the period, down 47.93% year-on-year; net profit attributable to shareholders of listed companies of 1.8916 million yuan; and loss of 166 million yuan after deduction.
It is worth mentioning that Yaxing Bus has not completed its revenue plan of 3 billion yuan in 2021. In 2022, the company's revenue plan is 2.1 billion yuan.
On the evening of April 28, Yaxing Bus disclosed the first quarter report of 2022, with operating income of 285 million yuan during the period, an increase of 2.78% year-on-year; a net loss attributable to the shareholders of the listed company of 43.6416 million yuan, compared with 1.1394 million yuan in the same period last year; and a net loss attributable to the shareholders of the listed company, net of non-recurring gains and losses, of 44.7564 million yuan.
In addition, Zhongtong Bus and Ankai Bus ranked second and third in the sector with weekly declines of 12.05% and 8.84% respectively, and the former also ranked third in the overall list.
On the evening of April 29, Zhongtong Bus disclosed its 2021 financial report and this year's first quarter report.
Last year, the company achieved operating income of 4.587 billion yuan, an increase of 4.06% year-on-year; net profit attributable to shareholders of listed companies was a loss of 220 million yuan, a sharp drop of 1033.23% year-on-year. In the first quarter of this year, the operating income was 863 million yuan, an increase of 30.93% year-on-year; the net profit attributable to the shareholders of the listed company was a loss of 35.287 million yuan, and the loss narrowed by 11.12%.
Ankai Bus also announced the first quarter performance report, the operating income of the period was 328 million yuan, down 14.9% year-on-year; the net profit attributable to the shareholders of the listed company was a loss of 39.993 million yuan, an increase over the same period of the previous year.
Overall, the overall performance of this sector is the worst, not only a large area of greenery, and there are 9 stock prices fell by more than 5%, of which Yaxing Bus and Zhongtong Bus, which fell by more than 10%, led the overall list.
Views of Autoskline：
In the 17th week of 2022, China's auto stocks as a whole finally reversed the performance of continuous declines in stock prices. As for whether such a trend can be sustained, it is somewhat worrying.
After all, the domestic epidemic situation is still tense, 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, plus the international situation is still unstable, which is undoubtedly unfavorable for automobile stocks. In addition, a quarterly report has been announced, and the first quarter performance of listed companies in the automobile industry may have a certain impact on the short-term trend of automobile-related stocks.