Liu Junling, a reporter from the Securities Times
Rapid growth of production and sales of new energy vehiclesSeagames2019website, goodSeagames2019websiteThe performance of the performance pushed up the share prices of car companies. On May 14, the A-share vehicle plate led the two cities higher, and the industry index rose 3.Seagames2019websiteThe share prices of Jinlong Motor (600686), Ankai bus, Zhongtong bus (000957) and * ST Asia Star rose by the daily limit, while Great Wall Motor, BAIC Langu (600733) and CIMC vehicles rose more than 5%. Among them, Zhongtong bus has risen by the limit for two consecutive days.
Double increase in production and sales
The export shines brilliantly
According to data released by the China Automobile Association, domestic production and sales of new energy vehicles completed 870000 and 850000 respectively in April, an increase of 35% over the same period last year.Seagames2019website.9% and 33.5%, with a market share of 36%. From January to April, the production and marketing of new energy vehicles completed 2.985 million and 2.94 million respectively, an increase of 30.3% and 32.3% respectively over the same period last year, and the market share reached 32.4%.
With its complete and mature industrial chain and leading technological advantages, China New Energy (600617) Automobile also shines brilliantly in overseas markets. In 2023, China exported 1.203 million new energy vehicles, an increase of 77.6 percent over the same period last year. Exports of new energy vehicles continued to grow rapidly this year, with exports of 114000 vehicles in April, up 13.3 percent from January to April, up 20.8 percent from January to April.
According to Securities Times data Bao statistics, 12 A-share listed companies disclosed overseas business income in their annual reports, and all of them achieved year-on-year growth in 2023. Overseas business income of Jianghuai Automobile (600418) and Great Wall Motor doubled, up 153.2% and 101.53% respectively over the same period last year. Overseas business income of BYD (002594) and SAIC (600104) exceeded 100 billion yuan for the first time.
The trade-in policy brings
Increment of more than one million vehicles
Under the effect of various policies to promote consumption, the prospect of new energy vehicles in China continues to improve. A few days ago, the detailed rules for the implementation of Automobile Trade-in subsidies were issued, making it clear that within this year, individual consumers who scrap qualified old cars and buy qualified new energy vehicles or energy-efficient vehicles will be given an one-time quota subsidy.
A spokesman for the Ministry of Commerce said at a news conference that the car trade-in subsidy policy can be superimposed with tax relief for new energy vehicles, financial and credit support for car purchase, and supporting concessions for enterprises to form a package, and strive to give more concessions to ordinary people (603883).
This time, the policy covers a wide range of areas, and the implementation rules include all gasoline passenger cars registered before June 30, 2011 and diesel vehicles registered before June 30, 2013, which actually include some national four vehicles.
Data show that the number of qualified old cars is about 14.545 million, of which about 13.708 million are fuel vehicles and about 837000 are new energy vehicles, which are expected to bring an increment of 1 million to 2 million, accounting for 4.5% and 9.1% of the domestic passenger car market. among them, the increment of new energy passenger vehicles ranges from 400000 to 800, 000.
Donghai Securities Research News believes that this subsidy policy covers a wide range of models and does not set restrictions on bicycle prices, while the amount of subsidy is relatively high. under the industry trend of rising domestic car ownership and replacement demand instead of first purchase demand, it may effectively promote the performance of the retail end to pick up.
The prosperity of the whole vehicle plate is getting better.
From the performance point of view, the vehicle listed companies achieved good results in the first quarter of this year. According to the first quarterly report, 10 of the 16 vehicle listed companies increased their net profit in the first quarter compared with the same period last year, of which 6 increased by more than 100%, accounting for nearly 40% of the total, followed by Great Wall Motor, Yutong bus (600066) and FAW Jiefang.
According to the first quarterly report of Great Wall Motor, the company realized a net profit of 3.228 billion yuan, an increase of 1752.55% over the same period last year and more than 45% of the company's annual report last year. The company released production and sales KuaiBao in April, showing that a total of 81600 new energy vehicles were sold from January to April, a year-on-year increase of 91.27%.
Since February this year, the whole vehicle sector has bottomed out and rebounded, and the sector index has risen 32.75%, outperforming the Shanghai Composite Index by about 20 percentage points. Specific to individual stocks, Yutong bus, Zhongtong bus, Jinlong Motor, and Selis have all increased by more than 50%, of which the share price of Yutong bus has continued to climb since the beginning of this year, constantly setting new record highs, up 122.64% so far this year.
Yutong bus has shown good growth in recent years, and its net profit has increased for three consecutive years from 2021 to 2023 compared with the same period last year. In the first quarter of this year, it reached 657 million yuan, an increase of 445.09% over the same period last year. The company is favored by a number of institutions, according to the quarterly report, two QFII holding shares, become the company's top ten circulating shareholders, in addition, the National Social Security Fund 101portfolio is the company's fourth largest tradable shareholders.
(the thematic data of this edition is provided by Chen Jinxing / Cartography provided by the Securities Times Central Database)