The world's first three-certificate complete eVTOL aircraft was born, laying the foundation for comprehensive large-scale commercial operation
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According to media reports, on April 7, the Civil Aviation Administration of China (CAAC) today issued a production license for EHang's EH216-S unmanned manned aircraft system in Guangzhou, marking the birth of the world's first three-certificate eVTOL (electric vertical take-off and landing) aircraft.
Aircraft from production to commercial operation requires a total of three types of certificates, namely type certificate (TC), airworthiness certificate (AC), production license (PC), last year EH216-S has obtained type certificate and standard airworthiness certificate. The issuance of this production license means that the EH216-S has become the world's first manned unmanned eVTOL model to obtain the "three major passes" for airworthiness, and has the qualification for mass production, laying the foundation for full-scale commercial operation. The low-altitude economy was first included in the government work report at the two sessions this year, and it was characterized as an emerging industry and a future industry. On March 27, the Ministry of Industry and Information Technology and other four departments made it clear that by 2030, the general aviation equipment will form a trillion market size, and make a clear plan for the development of the low-altitude economic industry. Analysts believe that under the premise of guaranteed product strength, the low-altitude economy will develop rapidly in the domestic market, and China will achieve corner overtaking in the field of general aviation.
$Broadcast Metrology (SZ002967)$ Provide environmental reliability test and electromagnetic compatibility test for EHang's eVTOL airworthiness certification.
$Blue Ocean Huateng (SZ300484)$ has set up a relevant team to focus on the research and development of electric aircraft motor controllers, which is currently in the stage of technical research, and is actively communicating with interested customers on cooperation matters.
〇 Resonance of domestic and foreign economic recovery International copper prices hit a new high in more than a year
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During the Qingming Festival holiday, international non-ferrous metal futures prices rose. As of the close of trading on April 5, LME copper, aluminum, zinc and lead rose by 2.96%, 3%, 4.92% and 5.32% respectively, and the international copper price hit a new high since January last year, and the aluminum price also reached a new high since April last year.
According to the latest data from the China Federation of Logistics and Purchasing, the global manufacturing purchasing managers' index was 50.3% in March, up 1.2 percentage points from the previous month, ending the trend of running below 50% for 17 consecutive months and returning to the expansion range. Experts said that the new orders index and production index in the purchasing managers' index, as well as foreign trade orders, have risen more, reflecting that the aggregate demand of the world economy has begun to pick up.
@银河证券研究所 believes that under the economic recovery, the operating rate of downstream processing enterprises in the non-ferrous metal industry has increased, and the demand for non-ferrous metals has recovered marginally. On the supply side, under the shortage of copper mines, catalytic factors such as the expected reduction of copper smelters and the resumption of electrolytic aluminum production in Yunnan may be less than expected have appeared one after another, non-ferrous metal prices have risen strongly, and the prosperity of the non-ferrous metal industry has risen significantly.
$CMOC (sh603993)$'s TFM and KFM, two world-class copper and cobalt mines, have accelerated their production, and the company's copper output will increase by 51% year-on-year in 2023;
$Zijin Mining (SH601899)$ is implementing large-scale expansion and technological transformation plans in the Democratic Republic of Congo, Tibet and Serbia, and the new production capacity of existing projects is expected to exceed 500,000 tons in the next 3-5 years.
Energy density sets record Tailan New Energy develops automotive-grade solid-state lithium batteries
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On April 4, Tailan New Energy announced that it had made a major breakthrough in the field of solid-state battery technology, and successfully developed the world's first automotive-grade solid-state lithium metal battery with a single capacity of 120Ah and a measured energy density of up to 720Wh/kg. In addition, Zhiji Automobile will release a new model Zhizhi L6 on April 8, the highlight of this model is that it is equipped with Qingtao Energy semi-solid-state battery technology, and the density of the positive and negative electrode materials far exceeds that of traditional liquid batteries, which greatly reduces the liquid content of the battery.
It is understood that the second-generation solid-state battery of Qingtao Energy is expected to be developed next year, which will further improve the density of the battery system. The eventual third generation, all-solid-state batteries, aims to gradually improve battery performance and safety. Industry insiders expect that by 2030, the commercial production capacity of global lithium-ion solid-state/semi-solid-state batteries is expected to begin to scale. At that time, the corresponding mileage of solid-state lithium batteries may reach 2-3 times that of liquid lithium batteries, equaling the endurance of fuel vehicles.
$Huasheng Lithium Battery(SH688353)$ focuses on the design and development of electrolyte materials for solid-state batteries, as well as the design and development of related electrode material stability and conductivity materials, such as sulfide solid electrolytes and high-conductivity additives;
$ Li Yuanheng (SH688499)$ can provide dry solid electrolyte coating equipment.
〇 Giants have deployed Robotaxi institutions and are optimistic about the development of the intelligent driving industry
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On April 7, GAC Aion and Didi Autonomous Driving announced that their joint venture, Guangzhou Andi Technology Co., Ltd., has been approved for industrial and commercial licenses. The two giants have joined forces and plan to spend 420 million yuan to target the Robotaxi (driverless taxi) field, and make efforts to open up the L4 large-scale commercial closed loop on the B-side. It is reported that the first model has completed the product definition, and the design and styling are being jointly reviewed, and mass production is planned to be achieved in 2025
In addition, Musk also said that Tesla plans to launch a self-driving taxi on August 8. Tesla's Robotaxi core technology consists of Autopilot, FSD and high-performance computing platforms, which is expected to achieve fully autonomous driving, efficient operation and personalized customization. China Securities believes that the implementation of Robotaxi has served as a vanguard in the popularization of intelligent driving at the level of regulations and user cognition, and is expected to boost the development of the intelligent driving industry chain.
$Desay SV (SZ002920)$ deeply focuses on the efficient integration of the three major fields of intelligent cockpit, intelligent driving and connected services, and continues to develop highly integrated intelligent hardware and leading software algorithms.
$Thundersoft (SZ300496)$ has invested heavily in the research and development of HPC products that integrate vehicle operating system and cabin driving, and launched the vehicle operating system product "Drip OS" for the first time in the industry.
New progress has been made in the research of safe and low-cost iron-based flow batteries
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According to reports, recently, the relevant research group of the Institute of Metal Research of the Chinese Academy of Sciences has made new progress in the research field of new low-cost iron-based flow battery energy storage technology. On the basis of the previous research work on all-iron flow batteries, the researchers successfully realized the uniform deposition and dissolution of iron elements on the surface of the electrode fibers during the charging and discharging process by taking the reversibility of the redox reaction of the iron anode as the starting point, and further realized the non-solidification of the electrolyte and the stable operation of the battery at a low temperature of -20°C by weakening the hydration hydrogen bond network, effectively breaking through the technical bottleneck of the anode materials of the all-iron flow battery at this stage.
Comments: The research and development of new systems and technologies for low-cost flow batteries is an effective way to break through the bottleneck of the industrialization of flow batteries at this stage. Among the many new energy storage technology routes, the flow battery energy storage technology represented by the all-vanadium flow battery has become the preferred electrochemical energy storage technology route in the long-term energy storage technology because of its intrinsic safety and flexible deployment. In the future, with the increase in clean energy consumption, flow batteries will be widely used in renewable energy storage and distribution systems. As one of the world's largest energy storage markets, China's flow battery market is also expanding and is expected to achieve rapid growth. A-share related concept stocks mainly include $Fengshan Group (SH603810)$, $Yaxing Chemical (SH600319)$, etc.
【CSI Focus】
The Ministry of Industry and Information Technology issued a document to encourage the digital upgrading of the electric bicycle industry
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The Consumer Goods Industry Department of the Ministry of Industry and Information Technology recently researched and drafted the "Standard Conditions for the Electric Bicycle Industry" and the "Administrative Measures for the Standard Announcement of the Electric Bicycle Industry", and solicited opinions from the public. The "Standard Conditions for the Electric Bicycle Industry (Draft for Comments)" mentions that enterprises are encouraged to vigorously promote intelligent manufacturing, improve the level of modern management, safety production guarantee capacity and resource allocation efficiency, and promote the digital upgrading of product research and development, production and operation, marketing management, after-sales service and other links. Encourage enterprises to code and identify the electric bicycle batteries produced or purchased, and promote the traceability management of battery information. Encourage enterprises to participate in the formulation and revision of standards related to green manufacturing in the electric bicycle industry, build green factories, produce green design products, and create a green supply chain.
Comments: According to the statistics of the global electric vehicle network, the number of electric vehicles in mainland China exceeds 350 million. According to incomplete statistics, about 35 million over-standard electric vehicles are facing delisting. The agency research report pointed out that 2022-2025 is the end node of the transition to the new national standard in a large number of cities in China, and it is expected that the industry sales of electric two-wheelers (including electric bicycles, electric motorcycles, etc.) will increase to more than 45 million units in 2022-2025; A-share related concept stocks mainly include $Xinri shares (SH603787)$, $Jiuqi shares (SZ300994)$, etc.
Five departments issued a notice to speed up the completion of the shortcomings of the urban domestic sewage pipe network
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The Ministry of Housing and Urban-Rural Development, the Ministry of Ecology and Environment and other five departments recently issued a notice, requiring all localities to speed up the completion of the shortcomings of the urban domestic sewage pipe network. By 2027, the direct discharge outlets of domestic sewage in urban built-up areas and the blank areas of facilities will be basically eliminated, the centralized collection rate of urban domestic sewage will reach more than 73%, and the comprehensive efficiency of urban domestic sewage collection and treatment will be significantly improved. All localities will also speed up the implementation of the transformation of the sewage pipe network, carry out the transformation of rainwater outlets and confluence overflow outlets along the water body, and strictly prevent rivers and lakes from backing up into the domestic sewage pipe network. Comprehensively carry out the renovation and transformation of drainage facilities that are beyond the service life, backward materials and outstanding problems. The notice is clear that sewage collection and treatment facilities will be promoted to fill in the gaps. Encourage qualified large and medium-sized cities to build sewage treatment facilities and large-scale sludge centralized treatment and disposal facilities in advance. A-share related concept stocks mainly include $Weixing New Materials (SZ002372)$, $Xinxing Cast Pipe (SZ000778)$, etc.
【Investment Focus】
> Musk announced the launch of Robotaxi on August 8, and Tesla's industrial chain company has attracted attention
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On April 5, Tesla CEO Elon Musk said on social media that he would release Robotaxi (driverless taxi) on August 8. It is reported that Tesla is about to launch Robotaxi, and the biggest confidence may come from the major progress of fully autonomous driving FSD. A few days ago, Tesla changed the name of FSD from the beta version of "FSD Beta" to "FSD Supervised", which means that FSD has ended its public beta and entered the process of large-scale commercialization.
Tesla's FSD self-driving function has now been updated from the beta version to the supervised version, which is a seemingly simple beta update, which represents Tesla's growing confidence in its self-driving capabilities. Tesla is no longer limited by computing power, and the iterative optimization speed of FSD will be further accelerated. As a new market model, Robotaxi is expected to give full play to Tesla's advantages in the field of high-level autonomous driving, or will become a new growth point for Tesla. Moreover, with the increase of FSD loading, it is expected to continue to boost Tesla's future sales, and the reuse of FSD algorithms in the field of humanoid robots is expected to accelerate the mass production of Optimus. Tesla's share price may lead to a new round of rise with the increase in FSD penetration, which is expected to boost the valuation of Tesla's industrial chain. In A-shares, you can pay attention to $Tuopu Group (SH601689)$, $Double Ring Transmission (SZ002472)$, etc.
【Exclusive Reference】
> Xinhan New Materials: PEEK raw material sales will fully benefit from the development of the industry
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$Xinhan New Materials (SZ301076)$ said in an institutional survey that PEEK, as a special engineering plastic with excellent performance, is used in electronic information, transportation, aerospace, energy industry, medical and health care, etc., and its application fields are expected to be further expanded with the demand trend of "lightweight" and "more energy-saving" in downstream applications. As an earlier manufacturer of aromatic ketone products engaged in DFBP R&D and production in the industry, the company has a long-term research and deep understanding of the PEEK industry chain, and the company's PEEK raw material sales will fully benefit from the development of the industry. The company has long-term research and deep understanding of the PEEK industry chain, mature technical system, stable quality control, and has been recognized by global customers for the company's products, which is the company's advantage.
>Peng Harrier Environmental Protection: Completed the export of the first batch of hydrocarbon-based biodiesel products
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According to the official public account of $Peng Harrier Environmental Protection (SZ300664)$, the company, as one of the few private listed companies in China in the field of hydrocarbon-based biodiesel (HVO), has the ability to quickly put into production and replicate (it was put into production in the same year). It has taken the lead in opening up the production and sales process of hydrocarbon-based biodiesel, and has the first-mover advantage and the ability to expand rapidly in the future. Recently, the National Energy Administration issued the "Notice of the Comprehensive Department of the National Energy Administration on Publicizing the Pilot Program for the Promotion and Application of Biodiesel" on its official website, marking that the national ministries and local governments have officially paid attention to the biodiesel industry and taken various measures to support the industry in various places. As local governments and departments begin to focus on biodiesel, the regulatory policies on the production, product specifications, import and export regulations, compliant feedstocks, and sales of products and by-products that have been vague until before hydrocarbon-based biodiesel will be clearer, making the company's business environment clearer, which is a benefit. The company has completed the completion of the 100,000 tons/year biomass liquid fuel project, and completed the export of the first batch of hydrocarbon-based biodiesel products on March 27, and has started the technical transformation project of sustainable bio-jet fuel (SAF).
【Financial News】
> Li Qiang met with U.S. Treasury Secretary Janet Yellen.
> State Administration of Foreign Exchange: Further optimize the management of foreign exchange business for trade.
> China's central bank increased its holdings of gold reserves for the 17th consecutive month.
The People's Bank of China of > has set up a re-loan for scientific and technological innovation and technological transformation, with a limit of 500 billion yuan and an interest rate of 1.75%.
> Guangdong: vigorously carry out the trade-in activities of automobiles and household appliances and home decoration and kitchen and bathroom.
> Huawei will release its car and PC products at the HarmonyOS Spring Communication Conference on April 11.
> Fujian Province: Support provincial geriatric hospitals and rehabilitation hospitals to explore the construction of provincial-level public nursing homes.
> Musk: Tesla will launch a driverless taxi on August 8.
【Announcement Gold Rush】
>$SAIC Motor (sh600104)$ MGI, a holding subsidiary, plans to introduce local investors in India, which is expected to increase the company's net profit by 5 billion to 7 billion yuan.
>$Taiji Industry (SH600667)$ subsidiary Eleven Science and Technology Consortium won the bid for the project with a bid price of 9.88 billion yuan.
>$Three Gorges Energy (SH600905)$ total power generation in the first quarter increased by 28.69% year-on-year.
>$ Baike Biotech (SH688276)$ net profit in the first quarter is expected to increase by 199% to 254% year-on-year.
>$Jointown (SH600998)$ and Wuhan Institute of Peking University jointly established a joint laboratory for artificial intelligence.
>$YIPLI (SZ002096)$ From January to March, the amount of new blasting service engineering contracts signed or started to be executed was 3.918 billion yuan.
>$Kehua Data (SZ002335)$ A wholly-owned subsidiary signed a framework agreement on computing power cooperation services.
>$ Xianhui Technology (SH688155)$ The company signed a major contract of 620 million yuan for daily operation.
>$ST Daji (SZ000564)$ The actual controller was officially changed to the All-China Federation of Supply and Marketing Cooperatives.
>$珠海冠宇(sh688772)$ 收到Stellantis定点通知。
>$ Baike Biotech (SH688276)$ net profit in the first quarter is expected to increase by 199% to 254% year-on-year.
【Dragon and Tiger Stands】
> funds flowed into gold, non-ferrous metals and other sectors
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On Wednesday, the market fluctuated throughout the day. At the close, the Shanghai Composite Index fell 0.18% to 3,069.30 points, the Shenzhen Component Index fell 0.44% to 9,544.77 points, and the ChiNext Index fell 1.08% to 1,840.41 points. The total turnover of the two cities was 917.9 billion yuan, a decrease of 49.7 billion yuan from the previous trading day. On the disk, gold, non-ferrous metals, oil and gas, coal and other sectors were among the top gainers, while Sora concept, flying cars, computing power leasing, multimodal AI and other sectors were among the top decliners.
The data of the after-hours Dragon and Tiger list shows that:
$Zhongrun Resources (SZ000506)$ was purchased by institutional funds, with a total net purchase amount of 139 million yuan;
$Haite High-tech (SZ002023)$ was purchased by Power Tour, with a total net purchase amount of 121 million yuan;
$Zongshen Power (SZ001696)$ was bought by institutional funds, with a total net purchase amount of 57.0719 million yuan;
$Northern Copper (SZ000737)$ was bought by institutional funds, with a total net purchase of 52.7601 million yuan;
$Feinan Resources (SZ301500)$ was bought by Power Tour, with a total net purchase of 36.0441 million yuan.