A number of blockbuster plug-in hybrid new energy vehicles will be unveiled at the Beijing Auto Show, and the penetration rate of plug-in hybrid models continues to increase
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According to reports, the 2024 (18th) Beijing International Automobile Exhibition, with the theme of "New Era and New Automobiles", will be held from April 25 to May 4. At this year's Beijing Auto Show, there were 117 world premieres (including 30 global premieres of multinational companies), 41 concept cars, and 278 new energy models. It is worth noting that the independent new energy potential energy of this Beijing Auto Show has been further strengthened, among which the proportion of plug-in hybrid new energy vehicles of independent brands has increased significantly, including the new M5 and M8 of Wenjie, Ideal L6, Leap C16, Qin L DM-i and many other popular plug-in hybrid/extended range models will be unveiled, becoming one of the biggest highlights of this auto show.
Since the beginning of this year, the penetration rate of plug-in hybrid vehicles, including range extenders, has steadily increased. In February 2024, plug-in hybrid models accounted for 43.04% of NEV sales, an increase of 10.12 percentage points over the same period last year. Zheshang Securities believes that at a time when the penetration rate of new energy vehicles has been high, the continued expansion of new energy vehicles needs the support of the target customer group in the sinking market, and from the perspective of use scenarios and user acceptance, plug-in hybrid models are expected to be favored by more customers in the sinking market, and the proportion of plug-in hybrid models in new energy vehicles is expected to further increase.
$Best(SZ300580)$ The company's hybrid transmission system support structural products and turbocharger core components are generally suitable for hybrid vehicles, the company has established long-term strategic cooperative relations with well-known enterprises at home and abroad, turbocharged devices supply to Huawei Wenjie, Ideal and BYD and other hybrid manufacturers.
$Alter(SZ300825)$ The company's independent research and development of electromagnetic DHT, with high transmission efficiency, simple structure, obvious cost advantages and other advantages, with the gradual expansion of the hybrid market, the company's electromagnetic DHT and electromagnetic clutch module market competitiveness and sales are expected to gradually reflect.
【Investment Focus】
> Huawei is about to release new supercharging products and pay attention to supercharging equipment industry chain companies
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According to Huawei's official website, Huawei Digital Power will hold the 2024 Smart Electric & Smart Charging Network Strategy and New Product Launch Conference and the Launching Ceremony of the Supercharging Alliance on the afternoon of April 24, launching a new power domain intelligent fusion solution for pure electric and extended range hybrid platforms, and will also release a full range of ultra-fast charging solutions for all scenarios to build a high-quality industrial ecosystem.
Compared with high-current solutions, high-voltage solutions have the advantages of light equipment, flexible design, large range of fast charging ranges, and high upper limits, and 800V high-voltage fast charging is expected to become the mainstream energy replenishment method in the future. According to the "China High Voltage Fast Charging Industry Development Report", the domestic 800V model sales penetration rate will reach 50% by the end of 2026. In order to achieve rapid energy replenishment, from the perspective of on-board components, the battery voltage of the whole vehicle has been increased from a low-voltage platform of 450V and below to a high-voltage platform of 750V and above, and the charging and distribution system, electric drive system, battery system and thermal management system have undergone significant changes. In September 2023, the supercharging standard was approved, and Huawei successively released plans for 600KW supercharging piles for the Sichuan-Tibet line and 100,000 supercharging piles in 2024. Pay attention to the technology upgrade direction of the whole pile enterprise with a high proportion of high-power DC piles, liquid-cooled modules, and liquid-cooled gun lines. In A-shares, you can pay attention to $Yonggui Electric (SZ300351)$, $Zhongrong Electric (SZ301031)$, etc.
Tin prices hit a new high in the past two years, and brokerages expect tin prices to continue to be strong, and the performance of related tin mining companies is expected to improve
The non-ferrous metals market continued to be active last week, among which tin prices hit a new high since June 2022, LME tin rose 5.23% on April 19, and the cumulative increase of 13.24% in the last three trading days, and the main domestic Shanghai tin futures contract rose 5.48% in night trading to 281,950 yuan/ton.
According to the analysis of Huaxin Securities, the supply-side disturbance continues, overseas demand is strong, and tin prices are expected to remain strong. On the supply side, the Wa State Bureau of Industry and Minerals recently issued two notices on the issue of mining areas, emphasizing that all mines in the Manxiang area need to strictly abide by the relevant documents of the Wa State Central Economic Planning Commission on the suspension of work and production, and if they violate the regulations, they will be investigated for legal responsibility. On the demand side, overseas demand has recovered strongly, but the actual domestic tin solder orders have not increased significantly, and downstream enterprises are mainly purchasing rigid needs. At present, LME inventories continue to fall, and the delay in the expected resumption of production in Myanmar has caused a tight supply. Although domestic demand is flat, overseas demand is strong, and tin prices are expected to maintain a strong trend.
Huafu Securities pointed out that last week, tin prices continued to rise strongly, the decline in Indonesian tin ingot exports in the early stage led to the continued low level of LME inventory, LME spot premium continued to rise, and the sentiment of forced positions spread, while Indonesian exports continued to be lower than expected in April, inventory improvement was limited, and the supply contraction of Wa mines in April is expected to land, and tin prices are expected to continue to be strong.
Analysts expect that this round of tin price rises actually reflects the market's optimism about non-ferrous metals, which is another long variety of international funds after gold, copper and aluminum, and it is expected that the short-term rally will be maintained. In the context of the current tight supply and demand pattern of the tin market and the continuous rise in prices, tin mining companies will benefit from the performance boost effect brought by the rise in tin prices.
【Exclusive Reference】
> Penghui Energy: A variety of lithium iron phosphate marine batteries have successfully passed the type approval of CCS China Classification Society
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$Penghui Energy (SZ300438)$ Official WeChat News, in the face of the development trend of green shipping, the company actively helps the low-carbon transformation of shipping, and recently a variety of lithium iron phosphate marine batteries have successfully passed the type approval of CCS China Classification Society, and won the type approval certificate issued by CCS China Classification Society, marking that the company's various LFP marine batteries have officially entered a new stage of industrial application in the field of ships. At present, global shipping is facing decarbonization pressure, and the mainland is also actively promoting the construction of green shipping corridors to accelerate the decarbonization transformation of the shipping industry. Ship electrification is a key area that Penghui Energy has always paid attention to, and its active layout has achieved remarkable results. This time, a number of products have obtained CCS type approval certificates, providing authoritative product qualification certification for Penghui Energy to further enter the field of green ship shipping.
> Tianyin Electromechanical: Tianyin Interstellar has realized the mass production of star sensors
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$Tianyin Electromechanical (SZ300342)$ said at the performance briefing that the star sensor of the subsidiary Tianyin Interstellar is an important part of the navigation system of spacecraft and aircraft, providing high-precision measurement data for spacecraft attitude control and astronomical navigation, and is mainly used in various satellites, unmanned aerial vehicles, airships and other aerospace facilities. SilverStar is a domestic commercial stellar sensor manufacturer, and currently has overseas customers in the United States, Europe and other countries. Tianyin Interstellar has realized the mass production of star sensors, with a production capacity of 2,000 sets/year, and the company can better meet customer needs. Tianyin Interstellar focuses on consolidating its market share in China, synchronously serving the satellite constellation of national key projects and the constellation plan of commercial satellite companies, and promoting the development of multi-party cooperation projects by casting a wide net and multiple locations abroad, and promoting the repurchase of original customers and the development of new users.
【Financial News】
> State Council: Grasp the phased characteristics of the mainland's capital market from the perspective of history and development, and pay more attention to the use of market concepts to design rules and formulate policies.
> Ministry of Finance: Support research on disruptive technologies and cutting-edge technologies, and promote research on key core technologies.
> Ministry of Finance: will work with relevant departments to launch the digital transformation and upgrading of transportation infrastructure.
> Ministry of Finance: This year, 24.6 billion yuan will be arranged to support subsidies for the purchase and application of agricultural machinery, and efforts will be made to implement the scrapping and renewal of agricultural machinery.
> Ministry of Finance: In the near future, it will work with relevant departments to start the implementation of county-level charging and swapping facilities to make up for shortcomings and tap the consumption potential of new energy vehicles in rural areas.
> Ministry of Finance: Support some large and medium-sized cities to implement urban renewal actions and carry out the renewal and transformation of underground pipe networks.
> National Health Insurance Administration: standardize the bidding of entrusted production holders, and strengthen the quality supervision of selected drugs in centralized procurement.
> Beijing Development and Reform Commission issued the implementation plan for further strengthening the loan interest discount for equipment purchase and renovation in key areas.
【Announcement Gold Rush】
>$Rongsheng Petrochemical (SZ002493)$ has signed a cooperation framework agreement with Saudi Aramco on a number of matters.
>$Hengli Petrochemical (SH600346)$ The controlling shareholder signed a memorandum of understanding with Saudi Aramco to discuss the latter's intention to acquire from Hengli Group its shares representing 10% of the company's issued share capital plus one share.
>$Zhejiang Yongqiang (SZ002489)$ intends to invest in securities with no more than 1 billion yuan.
>$Huadong Medicine (SZ000963)$ HDM1005 Injection obtained the US FDA New Drug Clinical Trial Approval Notice.
>$Founder Securities (SH601901)$ net profit in the first quarter was 784 million yuan, a year-on-year increase of 41.06%.
>$Sungrow (SZ300274)$ net profit in the first quarter increased by 39.05% year-on-year.
>$Guanhao High-tech (SH600433)$ net profit in the first quarter increased by 482.38% year-on-year.
>$Yangdian Technology (SZ301012)$ net profit in the first quarter increased by 2458.23% year-on-year.
>$Dongpeng Beverage (SH605499)$ plans to invest in the Zhongshan production base project of Dongpeng Beverage Group, and its net profit in the first quarter increased by 33.51% year-on-year.
>$Feiliks (SZ300240)$ A wholly-owned subsidiary plans to sign a construction general contracting contract of 300 million yuan.
>$Jinlong Co., Ltd. (SZ000712)$ plans to establish a project company with Saifu Jianxin and Jiuzhang Yunji to carry out the construction and operation of intelligent computing centers.
【Dragon and Tiger Stands】
> funds flowed into the military, pork and other sectors
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On Monday, the market fluctuated throughout the day. At the close, the Shanghai Composite Index fell 0.67% to 3,044.60 points, the Shenzhen Component Index fell 0.43% to 9,239.14 points, and the ChiNext Index fell 0.32% to 1,750.46 points. The total turnover of the two cities was 822.1 billion yuan, a decrease of 38.2 billion yuan from the previous trading day. On the disk, sectors such as military industry, pork, tourism, and medical equipment were among the top gainers, while sectors such as oil and gas, coal, gold, and flying cars were among the top decliners.
The data of the after-hours Dragon and Tiger list shows that:
$Zhongbing Red Arrow (SZ000519)$ was bought by the strength of the capital, with a total net purchase of 86.8549 million yuan;
$Zongshen Power (sz001696)$ won the main force to do T, with a total net purchase of 83.0459 million yuan;
$Northern Copper (SZ000737)$ was purchased by institutional funds, with a total net purchase of 77.0245 million yuan;
$Guangha Communication (SZ300711)$ was bought by Power Tour, with a total net purchase of 56.5841 million yuan;
$China Nuclear Technology (SZ000777)$ was bought by Power Tour, with a total net purchase of 45.8165 million yuan.
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