This morning, in "Important Highlights of A-shares Next Week: Epic Disk Protection Gives Birth to a Big Market!" 3 plates will lead the rise strongly! In the article, Jing Yang talked about the main opportunities and risks of the A-share market next week. According to Jingyang's analysis, the A-share market has re-established itself on the 5-day line this week, and there are signs of testing the 20-day line pressure level on Friday. Therefore, the market may be at the bottom of the construction phase at the current position.
It is worth noting that in addition to the lifting of the systemic risk alert in the broader market, the electric fan pattern of the entire market will also come to an end, and it will be replaced by a multi-hot spot rotation leading the pattern. Although it is said that there are many hot spots, in the final analysis, the most important thing is the performance wave. Because the vast majority of sectors participating in the rotation are in the direction of high performance growth in this year's interim report. Except for one type of stock, which is unmanned!
Since Jingyang has talked to you many times about how to catch the wave of performance in the report, which sectors have the strongest performance! So in this article, Jingyang will talk to you about the theme of unmanned driving, which may become the main investment direction of A-shares in the next stage!
Before the text begins, first of all, I would like to emphasize that everyone must remember, especially short-term speculators! Many branches covered by unmanned driving, such as online car-hailing, unmanned driving, intelligent cockpit, Internet of Vehicles, etc., have seen continuous sharp rises this week. Technically, there is obvious overbought, so before the middle of next week, this sector needs to be pulled back, and you must not immediately chase higher on Monday! I can only wait for it to fall down and then find a chance to suck low!
First, why has unmanned driving exploded in the near future?
Unmanned driving is neither a new technology nor a new hot spot in the A-share market. However, in the past few years, in Jingyang's impression, even if there is a market for unmanned driving, there are few large-scale changes like this week! This week, Tianmai Technology, which is in the driverless online car-hailing branch, rose by 68.91% weekly, and the weekly increase in public transportation was as high as 51.08%, which is far stronger than other stocks!
So why did autonomous driving break out this week? Is it just the result of Baidu Radish Run? Apparently not so! Let's take a look at what has happened in the past month on the big theme of unmanned driving?
Before the popularity of the radish run, the first thing to attract the attention of the A-share market was the outbreak of the Internet of Vehicles! On June 14 this year, the Hubei provincial investment project approval platform showed that the Wuhan major demonstration project of vehicle-road-cloud integration was approved by the Municipal Development and Reform Commission, with a total investment of about 17.1 billion yuan, and is planned to start construction in June.
Later, on June 18, some media reported that Hangzhou Communications Investment Group Co., Ltd.'s "Request for Approval of the Feasibility Study Report of the Pilot Project of "Vehicle-Road-Cloud Integration" Application of Intelligent Connected Vehicles in the Main Urban Area of Hangzhou" has been approved by the city's Development and Reform Commission, "agreeing in principle to the feasibility study report of the project". However, the amount of the investment has not yet been disclosed.
From June 18th to 20th, the 11th International Intelligent Connected Vehicle Technology Annual Conference CICV2024) was held in Yizhuang, Beijing, and the annual meeting released the mainland's first "White Paper on the Practical Application of Vehicle-Road-Cloud Integration for Comments)".
On July 2, Beijing Jiaotong City publicly solicited opinions on the "Beijing Autonomous Vehicle Regulations". It is proposed to make overall plans for traffic areas and roads, support the regional opening of intelligent roadside infrastructure improvement, coordinate the construction of a unified autonomous vehicle safety monitoring platform and cloud control infrastructure platform in the city, support relevant entities to carry out autonomous driving map application pilots, and give full play to the role of map support.
The next day, the Ministry of Industry and Information Technology and other five departments jointly issued the "Notice on Announcing the List of Pilot Cities for the Application of "Vehicle-Road-Cloud Integration" for Intelligent Connected Vehicles. 20 urban consortiums, including Beijing, Shanghai, Guangzhou, Shenzhen, Chongqing, Chengdu, Nanjing, Wuhan and Shenyang, have been identified as pilot cities for the application of "vehicle-road-cloud integration" for intelligent networked vehicles.
On July 8, at the 2024 World Artificial Intelligence Conference, Shanghai issued the first batch of driverless intelligent networked vehicle demonstration application permits, and the four certified companies can realize fully unmanned vehicle applications in some sections of Pudong.
On July 9, it was reported that the mainland's first large-scale closed intelligent networked vehicle test site - Yangtze River Delta (Yancheng) intelligent networked vehicle test site will be officially put into operation on July 16. The test site was built with an investment of 1.5 billion yuan by China Automotive Co., Ltd., a listed company controlled by China Automotive Center, and is a large-scale comprehensive closed test site dedicated to the development and testing of intelligent networked vehicles and autonomous vehicles.
On July 10, it was reported that Baidu Radish Express ushered in an explosive growth in the number of fully unmanned orders in Wuhan, with a peak of more than 20 single-day singles, which is equivalent to the average daily order volume of taxi drivers.
We can see from the news and major events that have occurred in the unmanned driving industry chain in the past month or so that local governments have begun to invest real money to carry out the construction of "vehicle-road-cloud integration". In the final analysis, "vehicle-road-cloud integration" is for unmanned driving. After that, Baidu Radish Express is very popular, and the number of orders received in a single day is the same as that of ordinary taxis, which shows that driverless online car-hailing has the strength to accelerate commercialization!
In other words, the strong outbreak of unmanned driving this week is a process of accumulation, and unmanned online car-hailing has the potential for large-scale commercialization, which can only be regarded as a catalyst for the outbreak!
Second, will unmanned driving continue to be strong in the later stage?
After figuring out the reasons for the sudden force of unmanned driving this week, let's judge the theme of unmanned driving, and whether it can continue to be strong in the later stage?
In Jingyang's view, if a sector wants to become the main hot spot of the A-share market, there are various requirements: first, it must be a growth plate or a strong cyclical plate. Second, this sector should be large enough, it is best to cover multiple sub-industries, involving a large number of listed companies, only such a sector can have the conditions to be continuously increased by large funds! If the market value of a sector is too small and there are not a few companies, the public fund will not easily increase its position significantly, because even if such a sector is pulled to the sky, the net value of the fund will not increase too much. Third, after meeting the first two conditions, this sector has recently appeared a signal of institutional entry, so it may become the main hot spot of the A-share market in the later stage!
Obviously, these three conditions have been met at the same time by unmanned driving, which is the reason why Jingyang should focus on analyzing unmanned driving!
First, the door to driverless large-scale commerce has been opened! In fact, even if there is no Baidu's radish run, most of the new energy vehicles produced now have unmanned driving, or intelligent assisted driving functions. But the carrot run is equivalent to opening another door to the large-scale application of unmanned driving!
At present, the daily order volume of Radish Express has been the same as that of ordinary taxis, because it has no labor costs, and can work 24 hours a day, the probability of gradually replacing conventional taxis or online car-hailing in the future is still very large! Once the Wuhan model is passed, it will soon follow in other cities, and the vehicles used by Baidu Radish Express are quite a big cake!
But that's just the beginning! Why are more and more cities starting to build connected cars? And Baidu Radish Run, also started from Wuhan? This is because the Internet of Vehicles is for the full popularization of driverless technology, and the driverless online car-hailing is actually only the first stop, and it will slowly transition to private cars later!
According to industry estimates, the output value of the Internet of Vehicles alone will reach 700 billion next year and 2.6 trillion by 2030! If you count unmanned driving technology and driverless online car-hailing, then the market cake is bound to be bigger!
The second point is that unmanned driving has gradually formed a new industry from the previous auto parts branch, and the number of listed companies covered has also increased greatly, and it has the space to accommodate large funds! Previously, when it came to unmanned driving technology, everyone would think of a small branch of auto parts, involving automotive millimeter-wave radar, lidar, as well as automotive electronics and braking systems. However, now unmanned driving is no longer an auto part, but also includes multiple branches such as intelligent cockpit, Internet of Vehicles and online car-hailing.
From the perspective of plate capacity, the total number of listed companies involved in these branches exceeds 400, which is already a relatively large sector in the A-share market. In such a large sector, whether it is a floating capital or a domestic institution, adding and decreasing positions will not feel crowded trading.
The third point is that the recent theme of unmanned driving, the receiving of institutional funds is getting stronger and stronger! Before the news about Baidu radish came out this week, the focus of market attention was on the Internet of Vehicles. According to Jingyang's observation, since June 18, 7 companies in the Internet of Vehicles sector have been significantly net bought by major institutions more than 10 million! After the news of Baidu Radish Express came out this week, the attention of the main institutions began to shift from the adjustment of the Internet of Vehicles branch to unmanned driving and online car-hailing. In the 4 trading days from Tuesday to Friday this week, 4 related stocks were significantly increased by major institutions!
In the past 1 month, more than 10 companies have been bought by major institutions on the theme of unmanned driving! It is worth noting that there are signs of being significantly reduced by institutions on this Friday, but in Jingyang's view, this is only because there is obvious short-term overbought in the entire sector, so the main institutions will properly control the rhythm and sell part of the price first!
It is estimated that after the continuous pullback of the unmanned driving theme next week, domestic institutions will return to the market again!
Third, who are the major listed companies involved in unmanned driving?
In the entire autonomous driving sector, more than 400 companies are covered, so how should we choose so many companies? In fact, it is relatively simple, just look for opportunities along two lines:
The first line is the direction of the Internet of Vehicles, which has been more active since this period of time, and will still receive high attention from the market in the short and medium term; The second line is the unmanned online car-hailing line, especially the company that has cooperation with Baidu. The only thing we have to do in the future is to wait for the continuous pullback of related stocks, and then find an opportunity to buy low!
BAIC Blue Valley 600733: In April 2021, the company signed a joint technology development agreement with Baidu's Apollo Intelligent Driving Division.
VIE Technology 002590: The company provides subframes and braking systems and other related products for Baidu's unmanned vehicles.
King Long Automobile 600686: Apollon, the country's first commercial-grade driverless micro-cycle electric vehicle jointly produced by King Long Automobile and Baidu, has very little revenue and is still in the test stage in a closed park. At present, the car is only being tested and is not commercialized.
TZTEK 688003: The company does not directly participate in the Radish Express project, but the company has carried out in-depth cooperation with Baidu, and is an ecological partner of Baidu's Apollo platform, providing a domain controller based on the NVIDIA Jetson solution for the Apollo platform.
Xingwang Yuda 002829: With the growth of demand for inertial navigation and other products in the field of unmanned driving, it will have a positive impact on the company's future performance. However, there are still many uncertainties in the large-scale application and promotion of related products.
Tianmai Technology 300807: At present, the company's business is mainly focused on the field of smart public transportation, and the company is based on ADAS advanced driving assistance system. The active safety assisted driving system developed with driver driving behavior analysis mainly perceives the surrounding environment, monitors the driving state and the driver's driving status through radar, cameras and other sensor equipment, and focuses on assisting the driver to improve the safety of driving, which is mainly used in the field of commercial vehicles such as public transportation.
Genvict 002869: The company is a leading provider of digital intelligence solutions and products in the field of smart transportation, and has built a complete vehicle-to-road cloud product system, including in-vehicle V2X series products, road-end V2X edge-end system integration products including sensing, MEC edge computing, V2X roadside RSU, etc.), cloud-based vehicle-road collaboration cloud platform, and C-V2X vehicle-board HMI human-computer interaction system. The company provides related software and hardware products in the form of solutions.
Soling shares 002766: After years of deep cultivation and accumulation, the company has reserved a series of vehicle cloud products. In response to the policy guidance of the national and local governments, the company has set up legal entities for the "vehicle-road-cloud integration" project in some domestic pilot areas, and intends to use the verified product solutions and development experience to iterate quickly and strive for domestic related business.
TransInfo Technology 002373: The company has the whole industry chain products such as RSU, OBU, signal, cloud control center, edge computing intelligent twin, etc., which can fully meet the needs of the current market.
Gosuncn 300098: The company has been deeply involved in the smart transportation industry for many years and has an early layout in the V2X field. Up to now, the company has actively participated in the pilot construction of intelligent network pilot areas and demonstration zones in Guangdong, Sichuan, Jiangsu, Henan, Hunan, Tianjin and other places, and has implemented many projects such as smart buses, intelligent network test sites, and smart intersections, and has rich project experience.