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"Twelfth Five-Year" development plan report brings new energy investment opportunities



Recently, the A-share market has continued to adjust, and the sectors that can perform are mostly positive factors and areas with heavy institutional positions. As a relatively large sector in the A-share market, the new energy sector has had many performance opportunities in the past market operations. During the major adjustment of the A-share market last Thursday, Ningbo Yunsheng (600366) rose strongly, indicating that Its new energy varieties still attract capital attention. With the attention of institutions and the possible introduction of policies, the research believes that certain structural investment opportunities will still be reflected in the operation of the market. However, because some varieties with high valuations in the sector face the risk of semi-annual reports, the research believes that there are certain structural investment opportunities. Varieties with valuation advantages, excessive institutional positions and relatively sufficient adjustment should be the focus of selection.

From the perspective of the industry, according to media reports: in early June this year, the "Twelfth Five-Year" Renewable Energy Development Plan has been submitted to the State Council for approval. The "Twelfth Five-Year" target for the total installed capacity of photovoltaic power generation has been clearly raised to 10 GW, doubling the target in the first draft of the plan. The plan will eventually be released together with the "Twelfth Five-Year" Energy Development Plan. It is foreseeable that the time for its introduction will be accelerated; Opinion draft)”, soliciting opinions from all walks of life. According to the draft for comments, my country intends to expand the scope of exemption, exempting vehicles and vessels from vehicle tax for pure electric vehicles, fuel cell vehicles and plug-in hybrid electric vehicles, and also exempting vehicles and vessels from Hong Kong, Macau and Taiwan. The draft for comments stated that the passed vehicle and vessel tax law will come into force on January 1, 2012. From the perspective of national policy, the extensive solicitation of opinions in the whole society shows that the country attaches great importance to the development of the new energy industry.

From the perspective of changes in external factors, in the context of high oil prices, new energy, as an alternative resource for oil, may have a certain degree of volatility in its investment opportunities. From the perspective of the world's major economies, it is obvious that the sharp rise in oil prices will promote the new energy industry in the medium and long term. The high oil price has an obvious impact on the world economy. How to develop the new energy industry and expand its social utilization rate will become an important issue or reality for all countries. After Japan experienced a major earthquake, renewable energy will be the main direction in the future. Germany, the United States, etc. have also increased the development of the new energy industry. Research believes that in the current stage of high oil prices, new energy vehicles, new energy vehicles in the new energy industry, Both the photovoltaic industry and the wind energy industry have certain industrial incentives. From the perspective of the promotion of policy factors, it may provide certain performance opportunities for plate varieties.

The new energy sector is a relatively large sector in the A-share market, with roughly 80 companies concentrated. There are about 30 listed companies engaged in automobile manufacturing in the Shenzhen and Shanghai A-share market, and less than half of them are involved in the field of new energy vehicles. From the perspective of large foreign institutional investors, they have increased their allocation of new energy vehicles in recent years. For example, Buffett's investment in my country's new energy vehicle BYD is optimistic about the future of new energy vehicles, which will also be listed in A shares. listed. At present, research has found that the field of new energy vehicles is expanding, and related listed companies have also begun to increase investment, such as Shuguang (600303), Huayu Automobile (600741), Yutong Bus (600066), Changan Automobile (000625) and so on.

From the perspective of national industrial policy, the new energy industry is an emerging strategic industry strongly supported by the state. Under the background of my country's high dependence on oil prices and continued high crude oil prices, my country will definitely increase the industry in this industry. Going forward, in the 12th Five-Year Rules, the support for the new energy industry will continue to provide a better policy background for listed companies in the industry. For fund stocks with heavy holdings in new energy batteries, photovoltaic industry, wind power, solar energy and other fields, you can choose to participate in a moderate amount of dips when the market adjusts.

From the point of view of market operation, we suggest to pay attention to the new energy varieties that have the advantage of performance valuation on the one hand, fund institutions have obvious positions and have certain adjustments in the stage, and to grasp their volatility, pay close attention to the volume, price, time On the basis of , empty, according to the changes in the international crude oil market, combined with the market operation trajectory to grasp and can, in the context of the poor coordination of the overall market volume, it is necessary to reduce market expectations; Companies with high industry competitiveness and relatively poor industry competitiveness should be avoided.