Benefiting from the rapid development of new energy vehicles, the lithium battery industry chain has benefited significantly. Judging from the lithium battery concept stocks that have disclosed the results of the 2016 third quarter report, the performance growth momentum will not change.

Some industry analysts said that the start of the new energy vehicle market, the lithium battery industry boom continues to improve. On the one hand, lithium batteries have become the most important type of power battery for new energy vehicles. The explosion of the new energy automobile industry opens up the space for lithium battery growth. On the other hand, entering the automobile market from the original consumer electronics market requires an upgrade of the comprehensive capabilities of lithium-ion enterprises, and the operating efficiency of the enterprises behind them will also be significantly improved. Especially since the production and sales of new energy vehicles have exceeded the market expectations this year, the lithium battery industry chain has not lost its heat, and its performance is expected to surpass the previous market expectations.

Some industry insiders pointed out that under the background of increasing macroeconomic downward pressure, new energy vehicles are expected to continue to benefit from the steady growth policy. Supporting policies are expected to extend other areas of the new energy automobile industry chain and further promote the development of new energy vehicles. . In terms of segmentation, the proportion of pure electric vehicles will gradually increase, and the proportion of lithium batteries will increase accordingly.

In the near term, the lithium battery concept stocks rebounded due to the increase in the price of small materials for lithium batteries, the expected subsidy policy and the lifting of the ban on low-speed electric vehicles . Considering the impact of subsidies on the downturn next year, the subsidy policy is expected to reproduce the tide of new energy vehicles. The target of completing 500,000 vehicles is still a high probability event, and there is still a certain performance growth trend in the upstream material field with high shortage.

Gao Jin, an analyst at CICC, said that the Ministry of Industry and Information Technology issued the "Interim Measures for the Parallel Management of Enterprise Fuel Consumption and New Energy Vehicle Points (Draft for Comment)", and proposed to establish enterprises to fulfill fuel consumption and new energy vehicle credit management enterprises. The “list” system, the new energy vehicle industry has gradually shifted from policy support to market-oriented development. It is expected that the production and sales volume of leading enterprises will continue to increase substantially in the fourth quarter. At present, the industry is at the time of the left side layout, and the catalyst sees whether the sales volume and policies can exceed expectations. It is recommended that the leading companies in the industry with relatively low valuations, such as Zhangzhou Pearl, Xinzhoubang and Shanshan, should pay attention to Guoxuan Hi-Tech and Shengli Precision.

Potential stock selection

Ganzhou Pearl three quarterly report increased by 125%-150%

In the first three quarters of the company, the net profit attributable to the mother was 387 million yuan, a year-on-year increase of 149.71%, and the growth was in line with expectations. At the same time, the company achieved a net profit of 48,292.38-53,658.20 million yuan, a year-on-year increase of 125%-150%, a year-on-year increase. Haitong Securities analyst Deng Xue pointed out that the company's wet diaphragm diaphragm 25 million square meters has been gradually put into production since January, and has now entered the supply chain of mainstream automakers and battery manufacturers such as BYD, Waterma, Miaosheng; dry diaphragm production capacity The utilization rate and yield rate continued to increase, which brought about scale effect and boosted the profitability of the diaphragm business. It is expected that the company will benefit from the wet diaphragm production and BOPA film gross profit in the future, and its performance is expected to maintain high growth.

New Zeon's performance has grown substantially

The company's lithium-ion battery electrolytes and chemicals benefited from the rapid growth of the domestic new energy vehicle market, and the production and sales boomed. Sales orders increased substantially, driving the company's operating income and profit scale to grow rapidly; the subsidiary Heisford's operating data all The fact that the company's performance has been greatly improved is the main reason for the substantial growth in performance. Tianfeng Securities analyst Zhang Wei pointed out that the company's electrolyte business has surpassed the traditional capacitor chemicals business, accounting for more than half of revenue, becoming the absolute main force of performance contribution. The company's electrolyte capacity is currently 20,000 tons, is one of the world's major suppliers of lithium-ion battery electrolyte, and is also an excellent supplier of Samsung and Sony. In addition, the company has an obvious advantage over competitors in terms of cost and price.

Guoxuan Gaoke ternary power battery capacity reached 650 million Ah

With the completion of the third phase of Hefei and the completion of the Qingdao plant, the company's third-quarter power battery capacity in the third quarter of 2016 reached 650 million Ah, of which the capacity of Qingdao 300 million Ah will be used for BAIC New Energy, and with Jianghuai, SAIC and Chery. With the strategic cooperation partner of the car enterprise, future orders and sales are guaranteed. China has become the world's largest new energy vehicle market, and the production and sales of new energy vehicles have driven the rapid growth of the power lithium battery market. With the development of new energy vehicles, the demand for power batteries will gradually move closer to the industry leader, and market share is expected to increase substantially. Shen Xiaohong Securities analyst Liu Xiaoning pointed out that the company is the leader in lithium batteries in the domestic new energy automobile industry chain, accelerating the layout of the entire industry chain and maintaining the investment rating of “overweight”.

Shanshan's compound annual growth rate reached 20.2%

The company's main business now covers three major sectors: clothing, new energy battery materials, and investment business. Everbright Securities analyst Wang Haishan pointed out that driven by power batteries, lithium battery materials business has grown rapidly. The global lithium-ion battery market has increased from 84 billion yuan in 2011 to 175.5 billion yuan in 2015, with an average compound annual growth rate of 20.2%. It is estimated that in 2016, global lithium battery shipments will reach 115.38Gwh, of which power lithium battery shipments will reach 45.33Gwh, accounting for 40%. The increase in production capacity of positive and negative materials will greatly enhance the company's performance. The initial valuation expects that there is still room for growth in market value. The company's new energy vehicle business will be a new driving force for the company's performance growth in the next two years.

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