New energy track is diverging, a senior private equity said “new energy if bear market this year, economics textbooks must be rewritten”

2022-06-27 0 By

Recently, the new energy sector continues to slump, with Ningde Times (300750.SZ) led by the new energy industry chain stock prices have plummeted.According to iFinD flush data, today, Ningde times share price intraday decline once touched 8.65%.At the close of trading, it was 518.10 yuan/share, down 5.32%.It is worth noting that the stock price of Ningde Times has fallen back to 518.10 yuan/share since the peak of 692.00 yuan/share in early December 2021, a decline of 24.70%, which surprised many investors in the market.In addition, as of February 10, the new energy sector shares of Enjie Shares (002812.SZ) down 5.43%;Ev Lithium Energy (300014.SZ), down 5.93%;Longie Shares (601012.SH) down 3.77%;Sunshine Power Supply (300274.SZ) fell 5.56%.On February 10, Ping An Securities issued a statement, with the policy end and the car enterprise end of the intensification, the penetration of new energy vehicles in the global market is ushering in a new round of acceleration, the industry prosperity continues to rise.But at the same time, we also need to guard against risks. First, the growth rate of electric vehicle production and sales slows down.With the continuous growth of the production and marketing base of new energy vehicles, it will be more and more difficult to maintain high growth rate, and the launch of mainstream models for the public has become the key;Second, the price war in the industrial chain intensified.The continuous decline of subsidies and the continuous release of new production capacity lead to price reduction pressure in all links of the industrial chain;Third, the influx of overseas competitors accelerated.With the expansion of the domestic market and the dilution of subsidy policies, the pace of overseas giants entering the domestic market is accelerating, bringing new impact on the industrial structure.China Merchants Securities also believes that in the global market, Ningde times power battery industry position is stable, energy storage field began to force, is entering the leading stage from catch-up, at the same time has been shaping a large industrial cluster with outstanding global advantages.Ningde Times is in the stage of global expansion, has a strong balance sheet, and is expected to maintain a stable profit margin in the future based on the company’s accounting and financial policies (such as depreciation and after-sales service fees, etc.) that are stricter than those of peers.The reporter also noted that a number of influential senior private placement figures in south China’s capital circle on the market also elaborated their own views.Among them, in shengchenjia private equity fund manager Kang Haoping posted on the exchange platform, “new energy this year if it is a bear market, the economics textbook must be rewritten!”Data shows that Kang Haoping has more than 20 years of financial industry experience, he entered the securities market in 1993, began to futures broker career;In 1995, he joined Hainan Hong Kong and Macao International Trust and Investment Co., Ltd. as an investment manager and securities analyst.In 2000, he joined shenzhen Securities Research Institute as a researcher.After resigning in 2007, HE set up Shenzhen Tinghao Investment Management Co., LTD., and began his career in sunshine private equity industry.Specifically, Kang hauping wrote in the article, “New energy will definitely not be a bear market this year, because the new energy industry will grow at least 50%, and the photovoltaic industry will grow at least 40%, so it can’t be a bear market.If it is a bear market, the whole economics textbook must be rewritten.I don’t know to what extent this round of decline has absorbed the past overdraft of the rise, even if the overall new energy bull market has ended, it will also come out of the market, there must be real competitive, excellent cost control companies continue to bull.In other words, this year’s new energy investment needs to select stocks.”In the equity market, the bullish and bearish voices of the new energy sector are constantly controversial.Ge Yunshuai, general manager of Shenzhen Straddle Fund, said in an interview with Silver Persimen financial reporter, “For the most popular new energy track last year, I am very optimistic about the long term.But as far as the short-term markets are concerned, I remain very cautious.In addition, AT the beginning of the fourth quarter of last year, I advised cautious participation and short-term stay away from new energy related stocks.””The main reasons are several aspects, one is the upstream raw materials continue to rise in price, downstream order delivery is not ideal, suppress the profit space of many intermediate enterprises, the head companies take the lead to expand production, the future competition may also be more intense;Second, new energy stocks have risen greatly from the bottom, overdrawing their earnings expectations for many years in the future. Facing the three-high pattern of high valuation, high stock price and high PE ratio, they may face the situation of market killing valuation.Three from the logic of capital to promote, main fund sales institutions, such as bank securities in the market did not sell new energy related topics during start fund, but has a lower risk of solid + funds, coupled with the recent market down considerably and fund sales overall lack of power, bottom new energy fund relative shortage,New energy related stocks must go through a certain risk release before new investment opportunities emerge.”Ge yunshuai said.For the follow-up investment opportunities of the new energy industry chain, Ge Yunshuai pointed out that the time and space for the current adjustment of the head companies are not enough.In terms of investment, risks have not been further released, so I choose to wait and see. One is to wait for the market decline to stabilize.The second is to wait for the new energy plate after full adjustment, the risk has been released completely, and then consider participation.In addition, the industry believes that new energy as a hot track in the past two years, there are bearish and strong bullish market is a normal phenomenon, but everything is in the market, the so-called “market is always right”, investors need to comply with the market when investing, respect the trend.