New energy rose by nearly 10% in a month, exploring new energy leading stocks in the second half of the year.

The first half of the ups and downs is about to pass, and the Shanghai Composite Index successfully stood at 3,300 points after the difficult 3,000-point defense. How will A shares be interpreted in the second half of the year? Where are the investment opportunities in the market? By combing the investment strategy reports of major brokers in the second half of the year, the reporter found that the new energy industry has become one of the most promising major tracks for institutions. This topic combs and analyzes the policies, sub-sectors, market performance and investment opportunities of the new energy industry for readers.

The new energy industry continues to be overweight by policies, and it is expected to run out of "acceleration" in the future.

The popularity of the new energy track is closely related to the continuous favorable policies.

Policies help accelerate the development of industries.

On June 24th, the Ministry of Transport and other four departments officially issued the implementation opinions on implementing the Opinions of the Central Committee of the State Council on comprehensively, accurately and comprehensively implementing the new development concept and doing a good job of carbon neutrality in peak carbon dioxide emissions. Among them, it is proposed to "actively develop new energy and clean energy vehicles"; On June 16, the National Development and Reform Commission held a press conference in June, saying that it would start construction of a number of nuclear power and hydropower projects and accelerate the construction of large-scale wind power photovoltaic bases focusing on deserts, Gobi and desert areas; On May 30th, the General Office of the State Council forwarded the Implementation Plan for Promoting the High-quality Development of New Energy in the New Era by the National Development and Reform Commission and the National Energy Administration, proposing that the total installed capacity of wind power and solar power will reach 654.38+0.2 billion kilowatts by 2030, so as to accelerate the construction of a clean, low-carbon, safe and efficient energy system.

In this regard, Liu Cunxin, assistant manager of Rong Zhi Investment Fund interviewed by Securities Daily, said, "The development of new energy industry has two favorable supports: First, the development of new energy industry has become a global knowledge, and the new energy industry has a large room for growth and high certainty. In the next three to five years, the new energy industry will maintain a rapid growth trend; Secondly, policy is an important driver of new energy development. In recent years, the state has continuously introduced favorable policies for the new energy industry, and the state's support for the new energy industry will increase in the future. "

The new energy industry mainly includes photovoltaic, wind power and energy storage. On the development of photovoltaic industry, Chen Hao, chief economist and director of the research institute of Chuancai Securities, told reporters that "in May, the newly installed photovoltaic capacity in China exceeded expectations, mainly due to strong policy support, strong demand in superimposed European markets and high price acceptance. In the long run, overseas market demand and domestic distributed installed capacity demand are expected to continue to be strong, and the superimposed scenery base project continues to advance, and the photovoltaic industry chain prosperity is expected to continue to rise. "

In terms of the development of wind power industry, Chen Li said that the scale of bidding has been accelerating recently, which has provided strong support for the demand for wind power installed capacity. Scenery base projects and offshore wind power projects have entered the acceleration stage, and the downward trend of unit price of wind turbines is superimposed, so the wind power industry has great room for future development.

Regarding the development of the energy storage industry, Chen Li believes that "with the double-carbon goal becoming a global consciousness, the proportion of new energy continues to increase, and global energy prices have risen sharply, and the energy storage industry is expected to usher in explosive growth."

The industry boom is expected to continue to rise.

For the investment opportunities in the second half of the year, central china securities believes that the global energy revolution has accelerated the process of the new energy revolution in Europe and America; From the domestic point of view, the policy continues to increase the new energy industry, and it is recommended to continue to pay attention to the new energy field in the second half of the year.

Yuan Huaming, general manager of Hua Hui Chuangfu Investment, told the reporter that with the technological progress and the maturity of the industrial chain, new energy represented by photovoltaic and wind energy has gradually replaced traditional petrochemical energy and become the direction of industrial development. With the strong support of the policy, the market scale of China's new energy industry has developed rapidly, and the industry prosperity is expected to continue to rise.

According to the data released by the National Energy Administration, from June to May, 2022, the cumulative installed capacity of photovoltaic was 23.7 1GW, a year-on-year increase of139.25%; 65438+10-May, the newly installed capacity of domestic wind power was 10.82GW, a year-on-year increase of 39%.

Since the beginning of this year, influenced by geopolitical conflicts and other factors, European countries have accelerated the progress of replacing traditional energy with renewable energy, and the demand in overseas markets has exceeded expectations. According to the data of the General Administration of Customs, during the period of 6543810-May, the export of solar cells was 3.74 million tons, up 62.5% year-on-year. Among them, the export of solar cells in May was 850,000 tons, up 68.7% year-on-year and 25.0% quarter-on-quarter.

Yang Delong, chief economist of Qianhai Open Source Fund, told the reporter that in the first quarter of this year, wind power and photovoltaic power generation accounted for 13.4%, and according to relevant plans, non-fossil energy consumption will account for more than 80% when carbon neutrality is achieved in 2060. This means that the new energy industry has huge development space in the future and is expected to generate 1 trillion yuan of market commercial value.

The performance of new energy companies can be expected, and the fundamentals support the investment logic.

In recent years, under the influence of multiple favorable factors, the performance of listed companies related to the new energy concept has increased to a certain extent, and the profitability of some companies has become prominent.

In this context, the new energy industry has also been focused by A-share investors. Although the plate has been adjusted back in the first few months of this year, the new energy plate has recently regained popularity in the capital market and has come out of a strong market. Can the new energy sector remain strong in the second half of the year?

14 company

Last year, the return on equity exceeded 20%

Since last year, listed companies related to the concept of new energy have performed well. The data shows that among the 66 companies in the new energy sector/KLOC-0, 95 companies achieved a year-on-year increase in net profit attributable to their mothers last year, and 83 companies achieved a year-on-year increase in net profit attributable to their mothers in the first quarter of this year. On the whole, 58 companies achieved "double growth" in their net profit returned to their mothers last year and the first quarter of this year, with excellent performance.

Debon Securities said in the research report that the performance growth rate of related companies in the photovoltaic equipment industry continued to maintain a high level. This is mainly due to two factors. First, driven by the "double carbon" policy, under the background of photovoltaic parity, the enthusiasm for downstream expansion has been continuously improved. Second, the upgrading of industrial technology has driven the upgrading frequency of equipment and materials.

As one of the important indicators to judge a company's operating ability, the return on equity is the key indicator that investors pay attention to. In the new energy sector, there are 132 companies with positive 202 1 return on equity, accounting for 79.52%, and there are 14 companies with 202 1 return on equity higher than 20%, which shows strong business ability.

In addition, new energy-related listed companies attach great importance to R&D investment. In the new energy sector, 157 listed companies disclosed the total R&D investment last year, totaling10153.6 billion yuan. Among them, the total R&D investment of 14 companies accounted for more than 20% of their operating income last year.

Over 60% of new energy concept stocks outperformed the broader market within the month.

Recently, with the recovery of the market, the new energy sector has gradually strengthened. The data shows that since June, as of the close of June 24th, the new energy sector rose by 9.95% during the period, significantly outperforming the Shanghai Composite Index (rising by 5. 13% during the period), and 102 stocks in the sector outperformed the Shanghai Composite Index, accounting for over 60%. There was a big correction in the new energy sector in the first few months of this year, but overall, the new energy sector fell by 1 1.60% during the year.

In this regard, Hu Bo, the investment fund manager of Rong Zhi, who was interviewed by the Securities Daily reporter, said that the booming new energy track is the main line of the recent rebound, mainly due to two factors: on the one hand, because the early adjustment of the sector is relatively sufficient; On the other hand, new energy is the direction of China's industrial upgrading, and many listed companies related to new energy have outstanding performance, and the future is worth looking forward to, which fundamentally supports the rise of the new energy sector.

Li He, general manager of Shan Zhi Fund, said in an interview with Securities Daily that since the beginning of this year, after a long period of adjustment, the valuations of new energy batteries and four major materials are far less than the historical average.

Some new energy concept stocks are also favored by financiers. Since June, as of June 23rd, * * * 57 new energy concept stocks have been bought by financiers, among which, the net purchase amount of 22 stocks during the financing period exceeded 654.38 billion yuan. BYD, Sunshine Power and North Huachuang are among the top three stocks, all exceeding 600 million yuan, which are 65.438+648 million yuan, 86.5438+0 million yuan and 685 million yuan respectively.

In terms of investment opportunities, Li He said that from the perspective of the future development space of the new energy industry, the whole sector still has long-term allocation value. 202 1, the overall beta property of the new energy track is very strong, and most of them have a large increase. With the further development of the industry, some companies with poor competitiveness will be gradually eliminated, while new energy leading enterprises with strong technical strength, financial strength and comprehensive competitiveness will go out of the independent Alpha market.

Hu Bo, who holds a relatively cautious view, believes that with the continuous influx of funds, the overall performance of the new energy sector is worth looking forward to, but related stocks may already be in a relatively hot state, and some adjustments may occur in the near future. But overall, the new energy sector is still of great investment value.

More than 40% of the new energy leaders are held by institutions, and Contemporary Ampere Technology Co., Ltd. has been well received.

As the saying goes, "the faucet does not fall, and the market does not stop." In June, a number of new energy concept leading stocks performed brilliantly. According to incomplete statistics, as of June 24th, the share capital of 19 new energy concept leaders such as Ji Tai, Jingshan Light Machinery Co., Ltd. and Contemporary Ampere Technology Co., Ltd. has increased every month. Among them, the cumulative increase of Jitai and Jingshan during the light machine period exceeded 100%.

"When the sector becomes a hot spot, under the effect of making money, leading stocks are easy to attract the attention of institutions, hot money and retail investors, thus driving other stocks in the sector to rise." Zhou Wanqing, managing director of Guangzhou Guo Bang Asset Management Co., Ltd. told Securities Daily.

Major stocks rose across the board this month.

After combing the above-mentioned 19 new energy leading stocks, the Securities Daily reporter found that there are two characteristics worthy of investors' attention.

First of all, the performance of these companies is generally good. 19 leading stocks, in the first quarter of 2022, 13 companies achieved a year-on-year increase in operating income, accounting for 68.42%.

It is worth noting that six companies have achieved "double growth" in operating income and net profit, accounting for over 30%. Among them, Dalian Heavy Industry, Yongfu, Guodian Nanrui, Baoxin Technology and other four companies' net profit growth rate in the first quarter of 2022 exceeded 50%.

Secondly, for the above-mentioned leading companies in the field of new energy, institutions actively hold positions. By the end of the first quarter of 2022, social security funds, pension funds, insurance funds and QFII funds appeared in the list of the top ten tradable shareholders of eight companies, accounting for 42. 1 1%. Among them, Guodian Nanrui has also obtained the same position in more than two institutions.

Brokers mainly recommend 3 stocks.

In the last 30 days, five of the 9 new energy leading stocks in/kloc-0 were rated as "buy" or "overweight" by the institution. Contemporary Ampere Technology Co., Ltd., Longji Green Energy, Daikin Heavy Industry and other three stocks have been rated as favorable for many times.

As the world's leading supplier of power battery systems, Contemporary Ampere Technology Co., Ltd. not only produces power battery systems for new energy vehicles, but also has great advantages in R&D and production of energy storage systems. TF Securities said that in 20021year, the sales volume of lithium-ion batteries of Contemporary Amp Technology Co., Ltd. reached 133 4438+0 GWh, up 185% year-on-year. Among them, the energy storage system realized income of 654.38+0.36 billion yuan, a year-on-year increase of 6065.438+0%; The revenue of lithium battery materials was 654.38+0.55 billion yuan, a year-on-year increase of 3565.438+0%.

In the first quarter of 2022, due to the sharp rise in raw material prices and other factors, the gross profit margin of Contemporary Ampere Technology Co., Ltd. dropped sharply from the previous month. However, TF Securities believes that due to the rising prices of raw materials, the company's short-term performance is under pressure, but its competitiveness remains unchanged, and it maintains its buy rating.

Longji Green Energy is mainly engaged in the research, development, production and sales of monocrystalline silicon rods, silicon wafers, batteries and components. Central china securities said that Longji ranks first in the world in terms of sales volume, market share and brand influence of green energy single crystal components, and has achieved a leading position in Asia-Pacific, Europe and other regions. In 2022, Longji's shipments of green energy components are expected to maintain a leading position in the world.

In the global wind power equipment manufacturing industry, Daikin Heavy Industry is the first echelon enterprise and also the leading enterprise in the wind power tower industry. Soochow securities said that Daikin Heavy Industries focuses on wind power towers, and its products include offshore and onshore wind power towers and sea breeze foundations. Considering the rising prosperity of the industry, we are optimistic about the long-term development of the company and give it a "buy" rating.